New Zealand Terms Of Trade Advance 1.3% In Q4

(RTTNews) - New Zealand's terms of trade climbed a seasonally adjusted 1.3 percent on quarter in the fourth quarter of 2020, Statistics New Zealand said on Tuesday.

That was in line with expectations following the 4.7 percent decline in the previous three months.

Export prices slipped 0.4 percent on quarter, missing expectations for a flat reading following the 8.3 percent drop in the previous three months.

Import prices sank 1.7 percent on quarter versus expectations for a decline of 1.0 percent after retreating 3.7 percent in the three months prior.

Export volumes for goods rose 3.3 percent and import volumes rose 6.5 percent, while export values for goods rose 1.7 percent and import values rose 5.0 percent.

The services terms of trade rose 2.8 percent and services export prices rose 2.4 percent, while import prices fell 0.5 percent.

Total exports of goods and services for the December 2020 quarter were NZ$18.3 billion, down from NZ$22.3 billion in the December 2019 quarter.

Total imports of goods and services for the December 2020 quarter were NZ$19.5 billion, down from NZ$23.4 billion in the December 2019 quarter.

The two-way trade for the December 2020 quarter was NZ$37.9 billion.