New Zealand: Terms of trade reach new record in Q3
"New Zealand's terms of trade rose 0.7 percent in the September 2017 quarter to reach an all-time high," the Statistics New Zealand announced on Friday.
The terms of trade increased over the last year, driven by high meat and dairy prices, especially butter, to reach the highest level since the series began in March 1957.
The previous high for the terms of trade was the June 1973 quarter.
The new high in the terms of trade echoes the impact seen in the early 1970s, when prices also rose for dairy and meat, as well as wool.