New Zealand's export prices, led by meat products, boosted terms of trade by 3.1% in the last quarter of 2024.

New Zealand's terms of trade rose 3.1% in the December 2024 quarter, mainly due to a 3.2% increase in export prices. Export prices for meat products, including a 7.0% rise in lamb and 6.1% in beef, significantly contributed to this increase. Meanwhile, import prices climbed only 0.1%, with petroleum products declining 9.5%. Total exports reached $26.7 billion, up from $24.3 billion, reflecting improved purchasing power on the international stage.