NZ first-quarter terms of trade fall as weaker commodity prices weigh on exports

Thu, 31 May 2012

June 01 (BusinessDesk) - New Zealand's terms of trade fell in the first three months of the year as a decline in commodity prices weighed on exports, with dairy prices falling for the third straight quarter even as volumes rose. The terms of trade, which measures how much imports can be bought with a fixed quantity of exports, fell 2.3 percent in the three months ended March 31, according to Statistics New Zealand. That’s a smaller decline than the 3 percent forecast in a Reuters survey. Export volumes fell 0.6 percent against an expectation...

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