New Zealand Q4 terms of trade: +0.8% q/q (vs. expected +0.5%)

The previous quarter’s result was a move for the ToT to a new record high on strong commodity export prices and lower import pricesThis Q4 data sets another fresh record high … New Zealand Q4 terms of trade +0.8% q/q

  • expected +0.5%, prior +0.7%  

Export prices up 4.9% q/q

  • Import prices +4.0% q/q

For results over the year:Q4 terms of trade +5.8% y/y

  • Export prices +4.9% y/y
  • Import prices -0.9% y/y 

NZD a few tics higher 

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