Source: MIL-OSI Submissions
2 September 2021
Merchandise terms of trade for the June 2021 quarter rose 3.3 percent on the previous quarter, as rising global commodity prices contributed to a strong quarterly increase in export prices, Stats NZ said today.
Export prices for goods rose 8.3 percent on the previous quarter, while import prices rose 4.8 percent. Both export and import goods prices had previously fallen each quarter since the first half of 2020, including large falls in the September 2020 quarter.
Compared with the previous June quarter, merchandise terms of trade remained steady as both export and import prices fell 1.8 percent annually.
Total services imports rose 16 percent in the June 2021 quarter, compared with March 2021, while total services exports rose 25 percent, Stats NZ said today.
When compared with a year ago, total services imports were up 17 percent, while services exports were up 4.9 percent.
On the goods side, total exports were up 20 percent from the March 2021 quarter, while imports were up 7.2 percent. Compared with a year ago, exports were up 9.2 percent, while imports were up 32 percent.
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