NZ terms of trade reach record high in September quarter on cheaper petrol imports

Thu, 30 Nov 2017

By Paul McBeth Dec. 1 (BusinessDesk) - New Zealand's terms of trade hit a new record in the September quarter as cheaper petrol imports offset lower export prices, which have been buoyed by strong butter prices in recent months. The terms of trade, which measure of the purchasing power of New Zealand’s exports relative to imports, increased 0.7 percent in the three months ended Sept. 30, its fourth quarterly gain, and eclipsing the previous high set in July 1973, Statistics New Zealand said. Export prices fell 1.9 percent in the quarter,...

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