COMMENTARY
IMPORT PRICE INDEX
The Import Price Index fell 0.6% in the December quarter 2013. This decrease was driven primarily by the appreciation of the Australian dollar against the major trading currencies, as well as falls in the prices paid for medicinal and pharmaceutical products (-3.4%), telecommunications, sound-recording, reproducing apparatus and equipment (-2.5%) and gold, non-monetary (excluding gold ores and concentrates) (-5.4%). These decreases were partly offset by rises in the prices paid for petroleum, petroleum products and related materials (+3.4%) and other transport equipment (+8.5%).
Through the year to the December quarter 2013, the Import Price Index rose 5.2%. This increase was driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+10.5%), general industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (+9.7%) and miscellaneous manufactured articles, n.e.s. (+10.6%). Partly offsetting these through the year rises were falls in the prices paid for gold, non-monetary (excluding gold ores and concentrates) (-17.0%), inorganic chemicals (-28.7%) and medicinal and pharmaceutical products (-3.7%).
Major Import Products
Australia's major import products based on contribution are;
- Petroleum, petroleum products and related materials (SITC 33) (+3.4%)
- General industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (SITC 74) (-1.6%)
- Telecommunications and sound recording and reproducing apparatus and equipment (SITC 76) (-2.5%)
- Electrical machinery, etc. and parts there of (SITC 77) (-0.8%)
- Road vehicles (including air-cushion vehicles) (SITC 78) (-0.1%)
EXPORT PRICE INDEX
The Export Price Index fell 0.5% in the December quarter 2013. This decrease was driven mainly by falls in the prices received for coal, coke and briquettes (-3.7%), gold, non-monetary (excluding gold, ores and concentrates) (-6.1%), and cereals and cereal preparations (-4.9%). These decreases were partly offset by rises in the prices received for metalliferous ores and metal scrap (+1.9%) and petroleum, petroleum products and related materials (+3.1%).
Through the year to the December quarter 2013, the Export Price Index rose 6.2%. This increase was driven mainly by rises in the prices received for metalliferous ores and metal scrap (+19.9%), gas, natural and manufactured (+15.4%), petroleum, petroleum products and related materials (+11.0%), textile fibres and their wastes (+14.2%), dairy products and birds' eggs (+29.3%), power generating machinery and equipment (+9.8%), meat and meat preparations (+6.8%), and professional, scientific and controlling instruments and apparatus, n.e.s. (+18.3%). Partly offsetting these through the year rises were falls in the prices received for coal, coke and briquettes (-9.3%), and gold, non-monetary (excluding gold, ores and concentrates) (-17.5%).
Major Export Products
Australia's major export products based on contribution are;
- Metalliferous ores and metal scrap (SITC 28) (+1.9%)
- Coal, coke and briquettes (SITC 32) (-3.7%)
- Petroleum, petroleum products and related materials (SITC 33) (+3.1%)
- Gas, natural and manufactured (SITC 34) (-0.8%)
- Gold, non-monetary (excluding gold, ores and concentrates) (SITC 97) (-6.1%)
Quality Declaration 
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