Trade

Further subdued economic data is weighing heavily on gross domestic product (GDP) expectations for the third quarter as wholesale trade figures released yesterday declined for the first time in two years.

Beef and Lamb New Zealand and the Meat Industry Association have welcomed the prospect of a closer trade partnership with Taiwan, saying it is a key export beef market and also a significant sheep meat market.

Continued increases in dairy prices underpinned yet another lift in the terms of trade in the three months ended June.

China looms ever larger as a trading partner with New Zealand.

Agriculture is back on the table for free-trade negotiations with South Korea, Prime Minister John Key says.

Clothing and nursery retailer Postie Plus Group reported a 4.3 percent rise in third quarter sales from a year earlier to $26.5 million.

New Zealand recorded its first annual trade surplus in nearly eight years in the year to April, Statistics New Zealand (SNZ) says.

Trade Minister Tim Groser is hailing as a success a trade mission to oil-rich Middle Eastern countries despite delays in signing a free trade agreement and the absence of Prime Minister John Key.

New Zealand has joined 18 other nations in calling for recommitment to the next round of Doha negotiations.