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Impact of the exchange rate on export volumes

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  • Mark Smith

    (Reserve Bank of New Zealand)

Abstract

This article reviews our understanding of how export volumes (as opposed to export values) are influenced by the exchange rate and other factors. Recent analysis finds that the real TWI exchange rate has a sizeable effect on export volumes; the low measured elasticity of export volumes needs to be considered in light of the large cyclical movements in the TWI exchange rate. We also find that export sectors respond differently to the same exchange rate movement, with exports of services volumes (which include tourism) more exchange rate sensitive than export volumes from the agricultural sector.

Suggested Citation

  • Mark Smith, 2004. "Impact of the exchange rate on export volumes," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, march.
    • Handle: RePEc:nzb:nzbbul:march2004:2
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2004/2004mar67-1smith.pdf
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    Citations

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    Cited by:

    1. Joana Garcia & João Amador, 2023. "Currency choices and the role of the U.S. dollar in international services trade," Working Papers w202316, Banco de Portugal, Economics and Research Department.
    2. Myoung Shik Choi & Hun Dae Lee, 2021. "The Value-Added Effects of Exchange Rates on Global Trade," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 10, January.
    3. Eichengreen, Barry & Gupta, Poonam, 2012. "The Real Exchange Rate and Export Growth: Are Services Different?," MPRA Paper 43358, University Library of Munich, Germany.
    4. Bhanumurthy, N.R. & Sharma, Chandan, 2013. "Does Weak Rupee Matter for India's Manufacturing Exports?," Working Papers 13/115, National Institute of Public Finance and Policy.
    5. Nihan Nur Akhan & Anil Donmez & Refik Erzan & Tolga Umut Kuzubas, 2018. "Exchange Rates and Export Behavior: Firm-level Evidence from Turkey," Working Papers 2018/02, Bogazici University, Department of Economics.
    6. Shafaai, Shafizal & Masih, Mansur, 2018. "The dynamics of growth, exports, exchange rate and foreign direct investment: evidence from Malaysia," MPRA Paper 102538, University Library of Munich, Germany.
    7. Chin, Lee & Yousefi, Abdolaziz, 2017. "Non-Tariff Barriers and Their Effect on Export: Evidence from 5 ASEAN Countries," MPRA Paper 118781, University Library of Munich, Germany.
    8. Sofyan Syahnur & Nawafil, 2012. "Modelling Indonesian oil and gas export," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 4(1), pages 25-36, April.
    9. Castillo, Carlos, 2014. "Inflation targeting and exchange rate volatility smoothing: A two-target, two-instrument approach," Economic Modelling, Elsevier, vol. 43(C), pages 330-345.
    10. Joseph Dery Nyeadi & Oswald Atiga & Charles Amoyea Atogenzoya, 2014. "The Impact of Exchange Rate Movement on Export: Empirical Evidence from Ghana," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(3), pages 41-48, July.

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