A surge in dairy product prices helped New Zealand's terms of trade rise during the March quarter at the fastest rate in a third of a century.The terms of trade rose 5.9 percent in the latest quarter, the largest increase since 1976, Statistics New Zealan
A surge in dairy product prices helped New Zealand's terms of trade rise during the March quarter at the fastest rate in a third of a century.
The terms of trade rose 5.9 percent in the latest quarter, the largest increase since 1976, Statistics New Zealand (SNZ) said today.
The latest rise was the result of a 10.3 percent rise in export prices outpacing a 4.2 percent rise in import prices. It means that in the March quarter, 5.9 percent more imports could be funded by a fixed quantity of exports, than in the December quarter.
A 32.1 percent rise in dairy prices was the main factor in the overall rise in export prices, SNZ said.
A 9.6 percent rise in the March quarter for prices of petroleum and petroleum product imports made a significant factor in the rise in import prices.
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