New Zealand Terms Of Trade Jumps 5.1% In Q1

(RTTNews) - New Zealand's terms of trade climbed a seasonally adjusted 5.1 percent on quarter in the first quarter of 2024, Statistics New Zealand said on Wednesday.

That exceeded expectations for an increase of 3.1 percent following the 7.8 percent contraction in the three months prior.

Export prices were down 0.3 percent after slipping 4.2 percent in the previous three months, while export volumes climbed 6.3 percent - up from 2.6 percent in the previous quarter.

Import prices slumped 5.1 percent after adding 3.8 percent in the previous three months.

Export values were up 6.6 percent to NZ$16.9 billion, while import values fell 1.2 percent to NZ$18.1 billion.