NZ: Lift off in terms of trade – ANZ

Susan Kilsby, agriculture economist at ANZ, notes that the New Zealand’s goods terms of trade lifted 1.0% q/q in Q1 2019, as the fall in import prices exceeded the fall in export prices.

Key Quotes

“The OTI goods terms of trade lifted 1.0% q/q in Q1, as the 3.5% fall in import prices more than offset the 2.6% decrease in export prices.”

“Looking forward, steady prices in the meat and forestry prices combined with higher dairy prices are expected to bolster export prices in Q2.”