WELLINGTON, New Zealand--The international purchasing power of New Zealand's export industries fell the most in a decade in the third quarter as the pandemic lowered prices for dairy, meat and logs.
New Zealand's statistics agency said the terms of trade index--which measures the prices commanded for exports relative to the prices paid for imports--fell 4.7% from the April-June quarter.
The agency said export prices dropped 8.3% in the third quarter from a record high in the second quarter and import prices fell 4.7%.
Recent global dairy auctions have shown improved prices for New Zealand's mainstay export commodity.
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(END) Dow Jones Newswires