The following movements occurred in the June 2017 quarter, compared with the March 2017 quarter.

• The merchandise (goods) terms of trade rose 1.5 percent.

• Export prices for goods rose 2.4 percent, while import prices for goods rose 0.9 percent.

• Seasonally adjusted goods export volumes rose 6.8 percent, and goods import volumes rose 2.3 percent.

• Seasonally adjusted goods export values rose 9.0 percent, and goods import values rose 2.9 percent.

The 1.5 percent rise in terms of trade in the June quarter follows a 3.9 percent increase in the March 2017 quarter, revised down from a provisional increase of 5.1 percent. The smaller increase for the March 2017 quarter than first reported mainly reflects a correction in the provisional price of forestry products. This correction will also flow through to the expenditure measure of gross domestic product, but is not significant enough to change the overall story.