New Zealand's Terms Of Trade Slump 7.8% In Q4

(RTTNews) - The terms of trade in New Zealand dropped a seasonally adjusted 7.8 percent on quarter in the fourth quarter of 2023, Statistics New Zealand said on Monday.

That missed forecasts for a decline of 0.1 percent following the 0.6 percent drop in the previous three months.

Export prices were down 4.2 percent, again missing expectations for a decline of 0.4 percent following the 1.4 percent drop in Q3. Export volume added 2,6 percent after slumping 5.5 percent in the third quarter.

Import prices climbed3.8 percent versus expectations for a fall 0.2 percent after slipping 0.8 percent in the three months prior.