MNI China Daily Summary: Wednesday, Dec 4

MNI: Toronto Nov Home Sales Jump 40% From Year Ago As BOC Cuts

MNI: UK FINAL NOV SRVCS PMI 50.8 (FLASH 50.0); OCT 52.0

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI: US MBA: MARKET COMPOSITE +2.8% SA THRU NOV 29 WK

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

MNI: EUROZONE OCT PPI +0.4% M/M, -3.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NEW ZEALAND: Terms Of Trade Improves But Goods Export Volumes Weak

NEW ZEALAND
APACNew ZealandBulletMarketsFixed Income BulletsForeign Exchange Bullets

NZ recorded its third straight quarterly rise in the merchandise terms of trade in Q3. It rose 2.4% q/q to be up 1.2% y/y, the first positive annual rate since Q1 2022, after +2.1% q/q and -1.7% y/y in Q2, while services fell 0.9% q/q and 5.7% y/y. The improvement was driven by both goods export and import prices which rose 0.7% q/q and fell 1.7% q/q respectively. While the better terms of trade is positive for the economic outlook, Q3 merchandise net export volumes were soft. 

  • Services import prices exceeded exports at 1.7% q/q compared to +0.7%.
  • Goods export volumes fell 1.8% q/q while imports rose 3.0% after -4.3% and +3.1% in Q2.
  • Q3 exports of goods and services values grew 2.9% y/y while imports were flat. Merchandise exports rose 4.4% y/y while services fell 0.7%. 

NZ terms of trade y/y%

Keep reading...Show less
145 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

NZ recorded its third straight quarterly rise in the merchandise terms of trade in Q3. It rose 2.4% q/q to be up 1.2% y/y, the first positive annual rate since Q1 2022, after +2.1% q/q and -1.7% y/y in Q2, while services fell 0.9% q/q and 5.7% y/y. The improvement was driven by both goods export and import prices which rose 0.7% q/q and fell 1.7% q/q respectively. While the better terms of trade is positive for the economic outlook, Q3 merchandise net export volumes were soft. 

  • Services import prices exceeded exports at 1.7% q/q compared to +0.7%.
  • Goods export volumes fell 1.8% q/q while imports rose 3.0% after -4.3% and +3.1% in Q2.
  • Q3 exports of goods and services values grew 2.9% y/y while imports were flat. Merchandise exports rose 4.4% y/y while services fell 0.7%. 

NZ terms of trade y/y%

Keep reading...Show less