• Prior quarter 2.0%
  • Terms of trade +2.4% versus 1.8% expected % q/q
  • YoY x.x% vs -1.6% last quarter
  • Export Prices +0.7.x% q/q vs 5.2% last quarter. Expected 1.4%
  • Import Prices -1.7% vs +3.1% last quarter. Expected -0.6%

Other details:

  • Total exports of goods and services for the September 2024 quarter were $22.2 billion, up from $21.5 billion in the September 2023 quarter.
  • Total imports of goods and services for the September 2024 quarter were $29.1 billion, the same as the September 2023 quarter.
  • The total two-way trade for the September 2024 quarter was $51.3 billion.
  • Export volumes for goods fell 1.8 percent and import volumes rose 3.0 percent.
  • Export values for goods fell 0.3 percent and import values rose 1.1 percent.
  • The services terms of trade fell 0.9 percent.
  • Services export prices rose 0.7 percent, while import prices rose 1.7 percent.

NZD/USD update, a few pips higher on the data:

  • Terms of trade refer to the ratio between the prices of a country's exports and the prices of its imports. In other words, it's the relative value of a country's exports to its imports.
  • When the terms of trade of a country are improving, it means that the prices of its exports are increasing faster than the prices of its imports. This can lead to an increase in the purchasing power of the country's exports, which can boost economic growth.
  • On the other hand, if a country's terms of trade are deteriorating, it means that the prices of its imports are increasing faster than the prices of its exports. This can lead to a decrease in the purchasing power of the country's exports, which can negatively impact economic growth.