Import, export prices presage terms-of-trade hit

Thursday 30 April 2015

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

According to the ABS, export prices fell 0.8% in the March quarter and were down by 12.2% over the year. By contrast, import prices fell by 0.2% over the March quarter and by 3.0% 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.