New Zealand’s terms of trade for export prices swung back into positive territory in the second quarter of 2026, signalling a notable improvement in the country’s trading conditions. The indicator rose to 3.5% in Q2 2026, reversing a -2.7% reading recorded in the first quarter of the year.
The turnaround suggests that prices received for New Zealand’s exports strengthened after a period of weakness at the start of 2026, potentially easing some pressure on exporters’ margins. While the underlying drivers of the move are not specified, the shift from contraction to expansion in just one quarter highlights a more favourable pricing environment for New Zealand’s goods abroad.
The updated data, released on 2 September 2026, will be closely watched by investors and policymakers assessing the sustainability of New Zealand’s external position and its implications for growth, trade balances and income flows over the remainder of the year.
