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6457.0 - International Trade Price Indexes, Australia, Mar 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 20/04/2012   
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COMMENTARY


IMPORT PRICE INDEX

The Import Price Index fell 1.2% in the March quarter 2012. This decrease was driven mainly by falls in the prices paid for medicinal and pharmaceutical products (-7.1%), telecommunications and sound-recording and reproducing apparatus and equipment (-4.4%), office machines and automatic data-processing machines (-4.0%), machinery specialised for particular industries (-3.3%) and gold, non-monetary (excluding gold, ores and concentrates) (-3.9%). The appreciation of the Australian dollar against most of our major trading currencies contributed to this decrease. These decreases were partly offset by rises in the prices paid for petroleum, petroleum products and related materials (+1.4%) and inorganic chemicals (+21.3%).

Through the year to the March quarter 2012, the Import Price Index rose 2.1%. This increase was driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+15.2%), gold, non-monetary (excluding gold, ores and concentrates) (+17.1%) and inorganic chemicals (+56.5%). Partly offsetting these through the year rises were falls in the prices paid for medicinal and pharmaceutical products (-9.5%), telecommunications and sound-recording and reproducing apparatus and equipment (-7.7%) and office machines and automatic data-processing machines (-8.5%).


EXPORT PRICE INDEX

The Export Price Index fell 7.0% in the March quarter 2012. This decrease was driven mainly by falls in the prices received for metalliferous ores and metal scrap (-11.7%), coal, coke and briquettes (-11.3%), gold, non-monetary (excluding gold ores and concentrates) (-3.9%), and gas, natural and manufactured (-4.1%). These decreases were partly offset by rises in the prices received for medicinal and pharmaceutical products (+8.0%).

Through the year to the March quarter 2012, the Export Price Index rose 1.0%. This increase was driven mainly by rises in the prices received for coal, coke and briquettes (+12.4%), gas, natural and manufactured (+26.5%), gold, non-monetary (excluding gold ores and concentrates) (+17.5%), textile fibres and their wastes (+22.2%) and iron and steel (+13.6%). Partly offsetting these through the year rises were falls in the prices received for metalliferous ores and metal scrap (-8.8%), non-ferrous metals (-15.5%), cereals and cereal preparations (-7.8%), and professional, scientific and controlling instruments and apparatus, n.e.s. (-9.2%).


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