Australia’s terms-of-trade to record biggest ever rise

Thursday, 29 July 2021

The Australian Bureau of Statistics (ABS) has released its International Trade Price Indexes for the June quarter of 2021, which revealed that export prices soared by 13.2% over the quarter and by 26.0% through the year.

By contrast, the import price index rose by 1.9% this quarter but fell 2.5% through the year.

Surging iron ore, coal and gas prices drove the rise in export prices:

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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.