New Zealand Terms of Trade
Net barter terms of trade index (2015 = 100).
Terms of Trade in New Zealand increased to 107.60 points in 2024 from 105.10 points in 2023.
New Zealand Terms of Trade — History
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New Zealand Terms of Trade — analysis in simple words
Latest reading
Terms of Trade in New Zealand increased to 107.60 points in 2024 from 105.10 points in 2023.
Over the last three years it rose once and fell twice.
Recent trend
A year earlier (2023) it was 105.1, so the latest figure is 2.5 higher.
Over the past five years the average was 110.4, with a range from 105.1 to 114.8. The latest value is below that five-year average.
Historical context
This data series starts in 2005 and has 20 annual observations. The latest reading is higher than 65% of all of them.
The highest value on record is 114.8 (2021) and the lowest is 82.3 (2005). The long-run average is 99.7.
Compared with other countries
Among 205 economies with recent data, New Zealand ranks 79th from the top. The median across all these economies is 101.2, so New Zealand is above the typical country.
Within East Asia & Pacific (36 economies with data) it ranks 13th; the regional median is 101.1.
Statistics
- Latest
- 107.62024
- Previous
- 105.1
- 5-year average
- 110.4
- Long-run average
- 99.7since 2005
- All-time high
- 114.82021
- All-time low
- 82.32005
- Observations
- 20Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2024 | 107.6 | ▲ +2.5 |
| 2023 | 105.1 | ▼ −6.8 |
| 2022 | 111.9 | ▼ −2.9 |
| 2021 | 114.8 | ▲ +2.0 |
| 2020 | 112.8 | ▲ +2.6 |
| 2019 | 110.2 | ▲ +1.4 |
| 2018 | 108.8 | ▼ −0.7 |
| 2017 | 109.5 | ▲ +9.2 |
| 2016 | 100.3 | ▲ +0.3 |
| 2015 | 100.0 | ▼ −4.3 |
| 2014 | 104.3 | ▲ +5.6 |
| 2013 | 98.7 | ▲ +8.1 |
| 2012 | 90.6 | ▼ −6.5 |
| 2011 | 97.1 | ▲ +4.2 |
| 2010 | 92.9 | ▲ +8.7 |
| 2009 | 84.2 | ▼ −9.4 |
| 2008 | 93.6 | ▲ +6.4 |
| 2007 | 87.2 | ▲ +4.9 |
| 2006 | 82.3 | ■ 0.0 |
| 2005 | 82.3 |
Terms of Trade — New Zealand vs Peers
Latest available reading for each economy (periods may differ). New Zealand highlighted.
More New Zealand indicators
Understanding Terms of Trade — a simple guide
What it measures
The ratio of export prices to import prices, indexed to 2015 = 100.
How it is calculated
Export price index ÷ import price index × 100 (2015 = 100).
If export prices rise faster than import prices, the index goes above 100.
An improving index raises national income.
A falling index means imports became relatively more expensive.
Why it matters for the economy and markets
An improving terms of trade raises national income without any change in volumes.
How to read it
Commodity exporters see large swings as commodity prices move.
Data source
World Bank — World Development Indicators (series TT.PRI.MRCH.XD.WD), annual data from 2005 to 2024. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current terms of trade of New Zealand?
What is the highest and lowest terms of trade of New Zealand?
What does terms of trade measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.