Rising fuel costs pinch terms of trade

More expensive fuel was a key factor driving the turnaround. (Image: Nova)

Wed, 02 Mar 2022

New Zealand’s terms of trade slipped in the December quarter in its first decline since September 2020 as the price of imported goods rose at a faster pace than exports.More expensive fuel was a key factor driving the turnaround in the terms of trade (ToT), with the value of imported petroleum and petrol products rising 1.1% from the September quarter, even as the volume shrank 7.2%.This rising trend came before recent disruptions to global energy supplies caused by the Russian invasion of Ukraine, which has pushed prices at the petrol pu...

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