Trade data holds up ... for now

Latest trade data does not include big hits to commodity prices.

Mon, 04 Sep 2023

New Zealand’s terms of trade rose by 0.4% in the June quarter, with export prices proving to be far more resilient than expected.Market expectations were for a decline in the terms of trade – which measures the ability of exports to pay for imports – but economists said the data had not captured the worst of the recent commodities decline, such as the dramatic fall in milk powder prices over August.Changes in the terms of trade can have big impacts on the economy as a whole, directly through the impact on export revenues and i...

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