In the third quarter of 2024, New Zealand's terms of trade experienced a seasonally adjusted increase of 2.4 percent, as reported by Statistics New Zealand on Tuesday. This growth surpassed the anticipated rise of 1.2 percent and followed a 2.1 percent improvement in the previous quarter.
Export prices increased by 0.7 percent over the quarter, which was lower than the expected 1.4 percent increment, following a substantial 5.2 percent rise in the second quarter. Meanwhile, import prices declined by 1.7 percent quarter-on-quarter, contrasting with forecasts for a 0.6 percent decrease, after having risen by 3.1 percent in Q2.
In terms of volume, export goods decreased by 1.8 percent, whereas import volumes saw a 3.0 percent increase. Additionally, the value of export goods fell by 0.3 percent, while the value of imports rose by 1.1 percent.
