New Zealand’s merchandise terms of trade rose 3.7% quarter-on-quarter in the three months to December 2025, reversing the prior quarter’s 2.1% deterioration and way above expectations of a 0.7% drop. The improvement reflected stronger relative export prices, which rose 5.3%, against a 1.5% increase in import prices. In value terms, export values for goods rose 1.6% to $19.4 billion as export volumes fell 3.2%, while import values rose 5.3% to $20.5 billion as import volumes rose 5.8%. The stronger terms of trade indicate increased purchasing power for New Zealand exporters despite falling export volumes.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
New Zealand Terms of Trade Beats Estimates in Q3
New Zealand’s merchandise terms of trade rose 3.7% quarter-on-quarter in the three months to December 2025, reversing the prior quarter’s 2.1% deterioration and way above expectations of a 0.7% drop. The improvement reflected stronger relative export prices, which rose 5.3%, against a 1.5% increase in import prices. In value terms, export values for goods rose 1.6% to $19.4 billion as export volumes fell 3.2%, while import values rose 5.3% to $20.5 billion as import volumes rose 5.8%. The stronger terms of trade indicate increased purchasing power for New Zealand exporters despite falling export volumes.