6457.0 - International Trade Price Indexes, Australia, Jun 2020 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 30/07/2020   
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Analysis of price changes


Import Price Index (-1.9%)

The main contributors to the fall were:

  • Petroleum, petroleum products and related materials (-32.5%), due to continued high levels of production amid a collapse in global demand.
  • Non-ferrous metals (-5.6%), reflecting the current weakened global demand.
  • Coffee, tea, cocoa spices and manufactures thereof (-3.6%), driven by a drop in global demand amid COVID-19 food outlet shutdowns.
The main offsetting contributors were:
  • Road vehicles (including air-cushion vehicles) (+2.0%), driven by a depreciation in the AUD exchange rate and pass through of price changes in supply chains.
  • Gold, non-monetary (+8.3%), due to increased demand for the safe-haven commodity in an uncertain global market.
Through the year, the Import Price Index fell 1.9%. The main contributors were:
  • Petroleum, petroleum products and related materials (-40.7%).
  • Inorganic chemicals (-21.7%).


Major import products

Price movements for Australia's major import products this quarter were:
  • Petroleum, petroleum products and related materials (-32.5%).
  • Road vehicles (including air-cushion vehicles) (+2.0%).
  • Electrical machinery, apparatus and appliances, n.e.s. (+3.3%).
  • Telecommunications and sound-recording equipment and reproducing apparatus and equipment (+0.3%).
  • General industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (+2.9%).


Export price index (-2.4%)

The main contributors to the fall were:
  • Petroleum, petroleum products and related materials (-46.6%), due to continued high levels of production amid a collapse in global demand.
  • Coal, coke and briquettes (-6.8%), reflecting falling global demand for thermal and metallurgical coal.
  • Gas, natural and manufactured (-7.2%), due to falls in crude oil prices in the March quarter 2020 flowing through to LNG contract prices.
  • Non-ferrous metals (-7.9%), reflecting the current weakened global demand.

The main offsetting contributors were:
  • Metalliferous ores and metal scrap (+2.9%), due to continued global demand for iron ore. In addition, there were global supply concerns due to the shutdown of some Brazilian mines following a COVID-19 outbreak.
  • Gold, non-monetary (+8.4%), due to increased demand for the safe-haven commodity in an uncertain global market.
  • Cereals and cereal preparations (+4.8%), as a result of continued demand for the staple food.

Through the year, the Export Price Index fell 3.8%. The main contributors were:
  • Coal, coke and briquettes (-24.7%).
  • Petroleum, petroleum products and related materials (-54.0%).


Major export products

Price movements for Australia's major export products this quarter were:
  • Metalliferous ores and metal scrap (+2.9%).
  • Coal, coke and briquettes (-6.8%).
  • Gas, natural and manufactured (-7.2%).
  • Gold, non–monetary (excluding gold ores and concentrates) (+8.4%).
  • Meat and meat preparations (-0.3%).