International Trade Price Indexes, Australia

The main contributors to the rise were:

• Gold, non-monetary (+19.5%), reflecting ongoing demand for gold as a safe-haven asset due to geopolitical and economic uncertainty. Central bank purchasing activities increased this quarter, boosting the rate of demand growth.
• Metalliferous ores and metal scrap (+2.6%), driven by improved market sentiment this quarter, with iron ore demand improving due to seasonal restocking in China. Seasonal restocking occurs to guard from supply chain disruptions leading up to the Chinese winter months and Chinese New Year.
• Coal, coke and briquettes (+3.6%), driven by rising metallurgical coal prices, reflecting the reduced supply outlook stemming from China’s policy measures to cut unsustainable steel production, leading to temporary closures of Chinese coal mines. 

The main offsetting contributors were:

• Gas, natural and manufactured (-5.2%), driven by falls in petroleum gases, as oil indexed contracts followed lower crude oil prices during the September quarter 2025. Additionally, higher Asian inventories and milder weather weighed on demand and spot LNG prices.
• Petroleum and petroleum products (-6.7%), driven by production hikes by OPEC+ nations earlier in 2025. Higher production, combined with weak demand and tariff-driven trade disruptions, reinforced expectations of a supply glut, weighing on crude oil prices.

Through the year, the Export Price Index fell 0.3%. The main contributors were:

• Gas, natural and manufactured (-16.3%), and
• Coal, coke and briquettes (-14.5%).

The main offsetting annual contributors were:

• Gold, non-monetary (+55.4%), and
• Meat and meat preparations (+20.3%).

The main contributors to the rise were: 

• Gold, non-monetary (+19.7%), due to ongoing strength in demand for gold as a safe-haven asset. Investors and central banks continue to purchase gold in a bid to hedge against economic uncertainty and intensifying geopolitical tensions.  
• Road vehicles (+2.9%), prices rose as annual price reviews resulted in vehicles being imported at higher prices.
• Crude fertilisers and minerals (+42.5%), prices rose as sulphur prices reached an all-time high in December. Supply constraints and strong demand from clean energy and agricultural sectors have put upward pressure on prices.
• Metalliferous ores and scrap (+11.5%), prices rose driven by declines in Chinese smelter production of zinc. Demand for zinc has more than outpaced zinc concentrate availability, which has led to a rapid depletion of inventories. 

The main offsetting contributor is: 

• Telecommunications equipment (-4.5%), driven by quality improvements in new model phones more than offsetting the price increase for these models. Existing model phones being imported at lower prices further contributed to this fall.

Through the year the Import Price Index rose 3.0%. The main contributors were: 

• Gold, non-monetary (+55.2%), and
• Road vehicles (+2.8%).

The main offsetting annual contributor was:

• Telecommunications equipment (-5.0%).

Import Price Index

Export Price Index

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Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.