Trade terms down again
PA Wellington The value of New Zealand’s overseas terms of trade index for the September quarter was one point lower, at 73, than the index for the June quarter, the Department of Statistics announced. The base, in December, 1957, was 100. The index measures the changing volume of imports which can be financed per unit volume of exports. The export price index increased 13 per cent from June to September and 15.8 per cent for the year ended in the September quarter, the department said in a statement. The import price index increased by 15.4 per cent from June to September and the annual movement between the September quarters was up 18.3 per cent. Significant export price increases contributing to the rise included cheese, 18 per cent, meat, 15.3 per cent, and manufactured goods
other than food 15 per cent. Wool increased 10.7 per cent and butter 8.7 per cent. Main import price increases were petroleum and by-products 21.5 per cent, iron and steel 20.3 per cent, crude materials other than fuels 19.9 per cent, textiles 19.1 per cent, and food, live animals, beverages and tobacco products 16.8 per cent. Transport equipment import prices were up 14.7 per cent, electrical machinery 13.5 per cent and other machinery 12.3 per cent. The actual export volume index rose 2.9 per cent for the year to September, while the seasonally-ad-justed export volume index increased 1.3 per cent between the June and September quarters. The import volume index, which does not display a regular seasonal pattern, increased 16.7 per cent from June to September and was 22 per cent above the index for the September, 1983, quarter.
Trade terms down again
Press, 5 December 1984, Page 42
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