Australia’s terms-of-trade to surge on rising export prices

The Australian Bureau of Statistics (ABS) has released its International Trade Price Indexes for the March quarter of 2022, which revealed that export prices soared by 18.0% over the quarter and by 46.7% through the year.

By contrast, the import price index rose by 5.1% this quarter but fell 19.3% through the year.

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

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