Import, export prices signal another big terms-of-trade rise

Thursday 27 April 2017

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

According to the ABS, export prices surged by 9.4% over the March quarter and were up by 29.1% over the year, whereas import prices rose by only 1.2% over the quarter but were down by 0.6% 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.