Dairy lifts terms of trade in June quarter
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01/09/2015. 23:54
노영례
Overseas Trade Indexes (Prices and Volumes): June 2015 quarter
The merchandise (goods) terms of trade rose 1.3 percent in the June 2015 quarter, due to export prices rising more than import prices, Statistics New Zealand said today. This rise follows a 1.2 percent rise in the March quarter.
Exported goods prices rose 2.1 percent, with dairy products (up 6.0 percent) contributing the most to the rise.
“Although dairy prices were up in the June quarter, helped by a weaker dollar, they are 28 percent lower than in the March quarter last year,” prices manager Chris Pike said. “Excluding dairy, export prices fell about 0.1 percent in the June 2015 quarter.”
The rise in dairy prices in the June 2015 quarter follows four quarterly decreases. Seasonally adjusted dairy volumes fell, while their value fell 1.8 percent to $2.8 billion in the June quarter. Prices for dairy product exports can be set some time in advance. The global dairy trade index (traded in US dollars) has fallen since March, with significant falls in July and the first half of August, before regaining some ground in mid-August.
Seasonally adjusted export volumes fell 0.2 percent in the June 2015 quarter. Dairy (down 4.0 percent) and meat (down 4.2 percent) contributed the most to the fall, while export petroleum products, fruit, and forestry product volumes rose.
Imported goods prices rose 0.7 percent in the June 2015 quarter, and seasonally adjusted import volumes rose 0.4 percent. Petroleum products (up 4.1 percent) had the most significant effect on overall import prices. Excluding petroleum, import prices fell 0.3 percent and volumes fell 0.4 percent.
The price and volume indexes for exports and imports of goods are compiled mainly from information initially collected in New Zealand Customs Service declarations.
