International Trade Price Indexes, Australia

The main contributors to the fall were:

• Gas, natural and manufactured (-5.2%), driven by falls in petroleum gases, as oil indexed contracts followed lower crude oil prices during the June quarter 2025. Additionally, higher Chinese inventories and stronger nuclear and coal-fired power generation in Japan and South Korea softened Asian demand for spot cargoes this quarter.
• Coal, coke and briquettes (-1.5%), driven by falling metallurgical coal prices, reflecting reduced demand stemming from China’s policy measures to cut unsustainable steel production. Thermal coal prices rose this quarter as warmer weather in Asia boosted demand for coal-fired power generation.
• Metalliferous ores and metal scrap (-0.5%), driven by falling alumina and bauxite prices as supply tightness eased this quarter.

The main offsetting contributors were:

• Gold, non-monetary (+3.2%), reflecting sustained demand for gold as a safe-haven asset due to ongoing geopolitical and economic uncertainty. Central bank purchasing activities moderated this quarter, easing the rate of demand growth.
• Meat and meat preparations (+2.1%), driven by high demand for Australian beef and sheep meat as US domestic supply remains tight. Additionally, high Australian domestic sheep livestock prices have added to price pressures this quarter as dry weather conditions impact local supply.

Through the year, the Export Price Index rose 0.1%. The main contributors were:

• Gold, non-monetary (+42.7%), and
• Metalliferous ores and metal scrap (+2.1%).

The main offsetting annual contributors were:

• Coal, coke and briquettes (-20.2%), and
• Gas, natural and manufactured (-7.0%).

The main contributors to the fall were: 

• Telecommunications equipment (-3.4%), driven by existing models being imported at lower prices. The appreciation of the AUD against the USD further contributed to a fall in prices.
• General industrial machinery and equipment (-2.6%), due to the appreciation of the AUD against the USD making prices across various industrial machinery cheaper.
• Coffee, tea, cocoa and manufacturers thereof (-9.2%), due to a reversal in cocoa prices. Cocoa prices have begun to recover on the back of improved supply from West Africa and Ecuador.

The main offsetting contributors are: 

• Petroleum, petroleum products and related materials (+3.5%), prices rose due to an uptick in US demand, and heightened supply concerns for Middle Eastern refined petroleum products.
• Fertilisers, manufactured (+10.4%), primarily driven by increases in urea and ammonium phosphates. Urea prices remained elevated and ammonium phosphate prices increased due to tight global supply and strong agricultural demand.
• Gold, non-monetary (+3.1%), due to investor demand amid economic uncertainty.

Through the year the Import Price Index rose 2.3%. The main contributors were: 

• Gold, non-monetary (+42.9%), and
• Electrical machinery, apparatus and appliances (+3.5%)

The main offsetting annual contributor was:

• Petroleum, petroleum products and related materials (-6.6%).

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.

The Import Price Index and the Export Price Index have been reweighted for the September quarter 2025. These indexes are annually reweighted each September quarter, using import and export values. A detailed explanation of the reweighting methodology and data sources are available in the Methodology, under the heading Items and weights. The new weighting patterns are provided in the Appendix of this issue. As a consequence of the annual reweighting, the points contribution data for the June quarter 2025 shown in Tables 2, 8 and 17 have been updated from those published in the previous issue of this publication.

From December quarter 2024, a method for calculating a small number of indexes was introduced in which administrative data was used to replace survey data. The method known as the multilateral index method utilised administrative trade data sourced from the Department of Home Affairs, Customs declarations. For this release, the number of indexes calculated using the multilateral methods expanded, with the indexes in the table below produced using a mix of survey data and administrative data for the first time.

A benefit of utilising multilateral methods is that it captures prices for a broader range of products and a greater proportion of Australia’s trade than is possible via current sampling methods. Multilateral indexes also incorporate transactions across all three months of the quarter, capturing volatility, and improving the quality of the indexes while also reducing the burden on businesses that provide data for the survey.