New Zealand Q3 Terms Of Trade Slide 0.3%

(RTTNews) - New Zealand's terms of trade fell a seasonally adjusted 0.3 percent on quarter in the third quarter of 2018, Statistics New Zealand said on Monday.

That followed the downwardly revised 0.4 percent increase in the three months prior (originally 0.6 percent).

Export prices for goods rose 2.3 percent and import prices rose 2.6 percent.

Export volumes for goods rose 1.8 percent and import volumes fell 0.9 percent.

Export values for goods rose 6.0 percent and import values rose 0.6 percent.

The services terms of trade skidded 4.0 percent. Services export prices rose 0.9 percent, while import prices rose 5.1 percent.

For exports, dairy prices rose 6.5 percent (milk powder up 8.5 percent, cheese up 5.7 percent, and butter up 3.7 percent) and dairy volumes fell 2.9 percent and values rose 6.7 percent.

Meat prices rose 1.9 percent (lamb up 1.0 percent and beef up 1.8 percent) and meat volumes rose 8.2 percent and meat values rose 13 percent.

Among imports, petroleum and petroleum product prices rose 6.4 percent, following a 10 percent increase in the June 2018 quarter. Petroleum and petroleum product volumes rose 5.5 percent, and values rose 12 percent.