The Australian Bureau of Statistics (ABS) has released export and import prices for the December quarter, which portends yet another large fall in Australia’s terms-of-trade when the national accounts are released in early March.
According to the ABS, export prices fell by a whopping 5.4% over the December quarter and were down by 10.3% over the year. This was only partly offset by a 0.3% fall in import prices over the quarter, which also rose by 2.4% over the year (see below table).
