New Zealand Commodity Terms of Trade stands at -0.67% as of May 2026, down from 1.44% a year earlier. The reading sits in the 22nd percentile of its history back to 1981.
| Latest (May 2026) | -0.67% |
| One year ago | 1.44% |
| 10-year range | -1.58% – 2.45% |
| Percentile vs. full history | 22nd |
| History | 1981–2026 (545 observations) |
Year-over-year change in New Zealand's commodity terms of trade: the IMF's commodity net-export price index, which weights world commodity-price moves by what New Zealand actually exports and imports, scaled by the size of its economy. A rising line is an income windfall - the things New Zealand sells are getting more valuable relative to the things it buys. For commodity exporters this series can swing the whole macro picture; for importers it works in reverse, and for economies with little commodity trade it stays quiet by construction. It feeds the commodities pillar of the tailwinds score.
<iframe src="https://www.tacticalassetallocation.com/charts/new-zealand-commodity-terms-of-trade/embed.html" width="800" height="360" loading="lazy" style="border:1px solid #ddd;border-radius:8px"></iframe>
<a href="https://www.tacticalassetallocation.com/charts/new-zealand-commodity-terms-of-trade/">New Zealand Commodity Terms of Trade — Cambria Chart Lab</a>
Data: download CSV (source: IMF Commodity Terms of Trade (CTOT) database).