Hon GRANT ROBERTSON: Securing the recovery has also been supported by industries, including the export sector. Statistics New Zealand reported yesterday that the terms of trade for the March quarter 2021 remain near historical highs, rising 0.1 percent. Exports continue to be resilient, with global demand pushing up log prices, while dairy and meat prices experienced modest declines. BNZ economists noted that the result continues a period of relative buoyancy in the terms of trade, which has been a major support to the New Zealand economy. They anticipate terms of trade to rise further over coming quarters to a new record level as the likes of higher dairy prices filter into the official statistics.