Falling fuel prices helped lift New Zealand's terms of trade 3 percent in the September quarter.This means that 3 percent more imported goods could be funded by a fixed quantity of exported goods than in the June quarter.Export prices edged down 0.1 perce
Falling fuel prices helped lift New Zealand's terms of trade 3 percent in the September quarter.
This means that 3 percent more imported goods could be funded by a fixed quantity of exported goods than in the June quarter.
Export prices edged down 0.1 percent, after rises of 3.7 percent and 10.5 percent in the June and March quarters respectively, Statistics New Zealand (SNZ) said today.
Prices for forestry product exports were down 4.1 percent in the latest period, with fruit down 8.2 percent, petroleum and petroleum products down 4.1 percent, while dairy products rose 7.1 percent.
Import prices fell 3 percent in the September quarter, compared to rises of 1.7 percent in the June quarter and 4.2 percent in the March quarter.
Petroleum and petroleum import prices fell 7 percent, mechanical machinery prices were down 2.8 percent, and food and beverages fell 3.2 percent.
Seasonally adjusted import volumes rose 3.7 percent in the September quarter, the fifth consecutive quarterly rise, SNZ said.
Import volumes remained 10 percent below the peak in the June 2008 quarter, but had recovered to levels last seen in late 2008.
Capital goods were the main contributor to the import volumes rise.
Seasonally adjusted export volumes fell 2.9 percent in the September quarter, with meat, dairy, and forestry products the major contributors to the fall. Meat volumes were at their lowest level since the September 2002 quarter.
