The Australian Bureau of Statistics (ABS) has released export and import prices for the September quarter, which portends a lift in Australia’s terms-of-trade when the national accounts are released in early December.
According to the ABS, export prices rose by 1.3% over the September quarter and were up by 14.7% over the year, whereas import prices rose by 0.4% over the quarter and were up by 1.2% over the year:
According to the ABS, the rise in export prices was driven mostly by Gas, natural and manufactured (+7.0%) and Gold, non-monetary (excluding gold ores and concentrates) (+15.6%), partly offset by Coal, coke and briquettes (–5.9%) and Petroleum, petroleum products and related materials (–9.9%).