NZ terms of trade edges closer to all-time high

NZ terms of trade edges closer to all-time high
By Jonathan Underhill June 3 (BusinessDesk) - New Zealand’s terms of trade edged closer to an all-time high in the first quarter as dairy products led a gain in export prices and petroleum products led import prices lower. Terms of trade, which measures the quantity of imports the country can buy with a set amount of exports, gained 1.8 percent in the fourth quarter to the highest level since September 1973, according to Statistics New Zealand. It is now just 1.7 percent below its all-time high in the June 1973 quarter. The quarterly gain...