NZ second-quarter terms of trade fall 2.1% as dairy export prices fall, oil drives up import prices

Thu, 01 Sep 2016

By Jonathan Underhill Sept. 1 (BusinessDesk) - New Zealand's terms of trade fell in the second quarter as dairy products led a decline in export prices and a rebound in crude oil drove up prices of imports. The terms of trade, which measures the purchasing power of New Zealand's exports abroad, fell 2.1 percent in the three months ended June 30, Statistic New Zealand said. Economists had expected a decline of 1.5 percent. Total export prices fell 1.9 percent while import prices gained 0.2 percent. The value of exports rose 7.6 percent,...

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