A hike has been recorded at a rapid rate in a third of the century in New Zealand's trade system due to a gush in the export prices of the dairy products, during the March quarter. The Statistics New Zealand (SNZ) has revealed the largest rise in terms of trade since 1976, accounting to be 5.9% in this recent quarter.

Lately, an augment of 10.3% in the export costs had outpaced the 4.2% rise in import values. This had implied in the markets, 5.9% higher amount of imports than that in the December quarter can be funded by a rigid number of exports, than in the quarter of March.

In this year, there was a drop of 0.2% in the terms of trade, which was followed, despite a noticeable hike in the March quarter. In addition to this, the statistics show a 4.9% decline in year to the March 2009 quarter, whereas during in 2008, it was an 11.6% rise to the March quarter.

SNZ said, "A 32.1% rise in dairy prices was the main factor in the overall rise in export prices in the latest quarter. Export volumes rose a seasonally adjusted 3% in the March quarter from the previous three months".