Q2 terms of trade was expectd to fall 1.5%
- And the previous was +4.4%
So, at a 2.1% fall that's a miss and well under the prior result
More:
- Export volumes +10.2% q/q (seasonally adjusted), at their highest levels since the series began in 1990.
- Dairy products made the largest contribution to the rise in export volume, seasonally adjusted volume up 13 percent
- The volume for dairy is at its highest level since the September 2012 quarter,
- Import volumes +0.7% q/q
Commentary from Stats NZ:
- "While the amount of goods New Zealand exported this quarter was at record levels, price falls for key commodities meant the amount that we earned from exports was little changed," international statistics senior manager Jason Attewell said. "We sent more tonnes of dairy products this quarter than we have in the last four June quarters, but prices for these goods fell."
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NZD is barely changed.
