FX.co ★ New Zealand Export Volumes Accelerate in Q2, Lifting Terms of Trade Momentum

New Zealand’s export volumes strengthened markedly in the second quarter of 2026, with the Terms of Trade – Exports Volume indicator rising 6.4% quarter-over-quarter, up from a 2.7% increase in the first quarter. The latest data, updated on 2 September 2026, highlights a notable acceleration in export activity compared with the start of the year.

On a quarter-over-quarter basis, the “actual” figure reflects the change in export volumes in the current quarter relative to the previous one, while the “previous” figure shows the change in the first quarter versus the quarter before it. The jump from 2.7% to 6.4% suggests a solid improvement in export performance, which may support New Zealand’s external balance and broader economic outlook heading into the second half of 2026.