Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Terms of trade rise: Overseas Trade Indexes (Volumes)

Terms of trade continues to rise

3 June 2014

In the March 2014 quarter, the merchandise terms of trade rose 1.8 percent, Statistics New Zealand said today. The latest increase was due to export prices rising and import prices falling.

Terms of trade is a measure of the purchasing power of New Zealand’s exports abroad. An increase means New Zealand can buy more imports for the same amount of exports.

“Five consecutive quarterly rises have lifted the terms of trade to its highest level since the September 1973 quarter,” prices manager Chris Pike said. The terms of trade is now 1.7 percent below its all-time high in the June 1973 quarter.

In the March 2014 quarter, the price of exported goods rose 0.8 percent, and seasonally adjusted export volumes rose 1.6 percent. The trend for export volumes has reached a new high, and is 4.2 percent higher than the previous high point in the December 2012 quarter.

Dairy prices (up 2.3 percent) were the top contributor to total export prices. Seasonally adjusted dairy volumes fell 4.3 percent, following a 24 percent rise in the previous quarter.

Meat prices rose 2.1 percent and meat volumes rose 6.6 percent, leading the rise in export values. The trend for meat volumes has reached a new high – it is now 5.3 percent higher than the previous high point in the September 2006 quarter.

Prices for imported goods fell 1.0 percent in the March 2014 quarter, following a 2.7 percent fall in the previous quarter. Petroleum and petroleum products (down 3.5 percent) contributed the most to the overall decrease in import prices due to lower prices for crude oil.

Import volumes rose 2.3 percent, following a flat December 2013 quarter. The trend for import volumes has been rising for six consecutive quarters – by a total of 14 percent.

The price and volume indexes for exports and imports of goods are compiled mainly from overseas merchandise trade data.

For more information about these statistics: Visit Overseas Trade Indexes (Volumes): March 2014 quarter (provisional)

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news