NZ terms of trade soar to 40-year high in 3Q as diary prices rocket

Sun, 01 Dec 2013

Dec. 2 (BusinessDesk) - New Zealand’s terms of trade, which measure the quantity of imports the country can buy with a set amount of exports, climbed to its highest level since December 1973 as dairy prices surged in the quarter, while cheaper electrical machinery kept a lid on increases in import prices. The terms of trade rose 7.5 percent in the three months ended Sept. 30 from the June quarter, the biggest increase in four decades, according to Statistics New Zealand. That was more than twice the 3.1 percent forecast in a Reuters survey o...

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