Australia’s terms-of-trade soar as Aussies get poorer

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The Australian Bureau of Statistics (ABS) has released its International Trade Price Indexes for the June quarter of 2022, which revealed that export prices soared by 10.1% over the quarter and by 38.7% through the year.

By contrast, the import price index rose by 4.3% this quarter and were 22.1% higher 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.