Australia’s terms-of-trade to hit new high in Q3

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The Australian Bureau of Statistics (ABS) has released its International Trade Price Indexes for the September quarter of 2021, which revealed that export prices rose by 6.2% over the quarter and by 41.0% through the year.

By comparison, the import price index rose by 5.4% this quarter and by 6.4% through the year.

Surging 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.