New Zealand's terms of trade increased 1.9 percent on quarter in the three months to September 2019, following a 1.4 percent rise in the prior period and beating market expectations of a 0.7 percent gain. Export prices went up 1.9 percent to its highest in over 10 years (vs 3.2 percent in Q2), as cost of meat advanced 4.8 percent boosted by lamb (6 percent) and beef (5.4 percent), which hit their highest level on record. Also, prices rose at a faster pace for dairy product (8.9 percent), namely milk powder (9.6 percent), butter (7.3 percent), and cheese (6.2 percent). Meantime, import prices were flat (vs 2.4 percent in Q2), as a fall in fuel import prices (-1.1 percent) and non-fuel crude materials (-3.3 percent) was offset by an increase in cost of food and beverages (0.1 percent) and textiles, clothing and footwear (3.1 percent). Year-on-year, terms of trade dropped 2.3 percent in the third quarter of 2019, as exports increased 3.6 percent and imports advanced at a faster 6 percent.
Terms of Trade in New Zealand averaged 1073.32 Index Points from 1957 until 2019, reaching an all time high of 1472 Index Points in the fourth quarter of 2017 and a record low of 796 Index Points in the fourth quarter of 1975. This page provides - New Zealand Terms of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics New Zealand
Terms of Trade in New Zealand is expected to be 1398.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Terms of Trade in New Zealand to stand at 1383.00 in 12 months time. In the long-term, the New Zealand Terms of Trade is projected to trend around 1374.00 points in 2021 and 1370.00 points in 2022, according to our econometric models.