New Zealand’s terms of trade index posted a solid recovery in the fourth quarter of 2025, rising 3.7% quarter-over-quarter, according to data updated on 3 March 2026. The improvement follows a 2.1% quarter-on-quarter decline recorded in the third quarter of 2025, marking a notable turnaround in the country’s trade conditions.
On a quarter-over-quarter comparison, the latest figure shows that the price New Zealand receives for its exports has strengthened relative to the price it pays for imports, after weakening in the prior period. The previous reading of -2.1% represented a comparison of the third quarter of 2025 with the second quarter, while the current 3.7% figure compares the fourth quarter of 2025 with the third.
The shift from a negative to a positive quarterly change suggests a measurable improvement in New Zealand’s trading position at the end of 2025, though the underlying drivers—such as specific export or import price movements—are not detailed in the released data. Investors and policymakers are likely to watch subsequent releases to see whether this rebound in the terms of trade can be sustained into 2026.
