The Australian Bureau of Statistics (ABS) has released export and import prices for the June quarter, which portends a lift in Australia’s terms-of-trade when the national accounts are released in early September.
According to the ABS, export prices rose by 3.8% over the June quarter and were up by 17.4% over the year, whereas import prices rose by 0.9% over the quarter but were up by 2.8% over the year:
According to the ABS, the rise in export prices was driven by “Metalliferous ores and metal scrap (+21.4%), Petroleum, petroleum products and related materials (+8.9%), Meat and meat preparations (+4.6%) and Gold, non-monetary (excluding gold ores and concentrates) (+2.0%), partly offset by “Gas, natural and manufactured (–17.8%), Coal, coke and briquettes (–5.4%) and Cereals and cereal preparations (–4.9%).
