New Zealand’s terms of trade for import prices strengthened in the fourth quarter of 2025, with the indicator rising to 1.5%, up from 0.5% in the third quarter of 2025. The latest figures, updated on 3 March 2026, signal a notable acceleration in import price growth over the period.
The shift from a modest 0.5% increase to a more pronounced 1.5% rise suggests that imported goods became relatively more expensive for New Zealand by the end of 2025. While the data release does not detail underlying drivers, the change in the import price component of the terms of trade will be closely watched by businesses and policymakers for its potential impact on input costs, consumer prices and trade dynamics going into 2026.
