Statistics New Zealand announced on Monday that the terms of trade in the country saw a seasonally adjusted decline of 7.8 percent in the final quarter of 2023. This dip missed projections of a 0.1 percent decline, following a 0.6 percent decrease in the previous quarter.
Export prices also fell by 4.2 percent, failing to meet anticipated expectations of a 0.4 percent decrease, following the 1.4 percent slump in the third quarter. Nevertheless, export volume experienced an increase, registering a growth of 2.6 percent, after a significant 5.5 percent fall in the third quarter.
On the other hand, import prices rose by 3.8 percent against predictions of a 0.2 percent decrease, following a minor 0.8 percent drop in the preceding three months.
