Australia’s terms of trade to get hammered

Thursday, 31 July 2014

The Australian Bureau of Statistics (ABS) released export and import prices for the June quarter, which portends big falls in Australia’s terms-of-trade when the national accounts are released next month.

According to the ABS, export prices fell by 7.9% in June quarter and by 1.9% over the year. By contrast, import prices fell by a more moderate 3.0% over the June quarter but rose by 5.7% over the year (see below table).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.