NZ terms of trade sink to 3-year low as dairy prices fall for 6th straight quarter

Thu, 28 Feb 2013

March 1 (BusinessDesk) – New Zealand’s terms of trade unexpectedly fell to a three-year low in the fourth quarter as prices of dairy exports extended their slide and fish export prices fell. The terms of trade fell 1.3 percent in the fourth quarter from three months earlier, according to Statistics New Zealand. A 1.3 percent gain was expected, based on a Reuters survey. The trade-weighted index of the New Zealand dollar fell to 75.62 from 75.85 before the report was released. The TWI rose 1.3 percent in the fourth quarter. Confirmation of th...

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