NZ data: Q4 Terms of Trade +5.7% q/q (expected +4.0%)

New Zealand terms of trade for Q4 of 2016

• expected 4.0%, prior revised to -1.1% from -1.7%

 More:

• export volumes fell 5.8% on the quarter


• import volumes up 1.2% q/q

Via Stats NZ:

• A rise in milk powder prices and a fall in prices of consumer electronics helped drive the terms of trade up 5.7 percent


• The lift in the terms of trade in the December 2016 quarter was the largest quarterly increase since the September 2013 quarter


• ."The uptick of dairy export prices lifted New Zealand"s terms of trade," business prices manager Sarah Williams said today. "However, dairy export prices are still about a third lower than they were three years ago."


• While dairy export prices (up 14 percent) and values (up 9.8 percent) rose in the December 2016 quarter, dairy export volumes were down 8.1 percent. Despite the fall in volumes, New Zealand has earned more from the sale of dairy products abroad compared with the September 2016 quarter.

NZ data: Q4 Terms of Trade +5.7% q/q (expected +4.0%)
NZ data: Q4 Terms of Trade +5.7% q/q (expected +4.0%)
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