COMMENTARY
IMPORT PRICE INDEX
The Import Price Index rose 1.4% in the June quarter 2015. The rise is driven mainly by rises in the prices paid for petroleum, petroleum products and related materials (+15.8%); and road vehicles (including air-cushion vehicles) (+1.3%). Partly offsetting these rises are falls in the prices paid for gas, natural and manufactured (-36.5%); and medicinal and pharmaceutical products (-3.5%).
Through the year to the June quarter 2015, the Import Price Index rose 1.3%. The rise is driven mainly by rises in the prices paid for office machines and automatic data-processing machines (+17.0%); road vehicles (including air-cushion vehicles ) (+5.2%); general industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (+8.3%); telecommunications and sound recording equipment and reproducing apparatus and equipment (+9.1%) and electrical machinery, apparatus and appliances, n.e.s., and electrical parts thereof (including non-electrical counterparts, n.e.s., of electrical household-type equipment) (+9.2%). Partly offsetting these through the year rises are falls in the prices paid for petroleum, petroleum products and related materials (-25.3%); medicinal and pharmaceutical products (-5.2%); rubber manufactures, n.e.s. (-6.3%); gas, natural and manufactured (-42.3%) and gold, non-monetary (excluding gold ores and concentrates) (-7.6%).
Major Import Products
Australia's major import products based on contribution are:
- Road vehicles (including air-cushion vehicles) (SITC 78) (+1.3%)
- Petroleum, petroleum products and related materials (SITC 33) (+15.8%)
- General industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (SITC 74) (-0.3%)
- Electrical machinery, apparatus and appliances, n.e.s., and electrical parts thereof (including non-electrical counterparts, n.e.s., of electrical household-type equipment) (SITC 77) (-0.8%)
- Telecommunications and sound recording equipment and reproducing apparatus and equipment (SITC 76) (-1.0%)
EXPORT PRICE INDEX
The Export Price Index fell 4.4% in the June quarter 2015. This fall is driven by falls in the prices received for metalliferous ores and metal scrap (-7.9%); gas, natural and manufactured (-23.9%) and coal, coke and briquettes (-3.5%). Partly offsetting these falls are rises in the prices received for petroleum, petroleum products and related materials (+10.9%).
Through the year to the June quarter 2015, the Export Price Index fell 8.9%. This fall is driven by falls in the prices received for metalliferous ores and metal scrap (-24.3%); petroleum, petroleum products and related materials (-33.4%) and gas, natural and manufactured (-21.2%). Partly offsetting these through the year falls are rises in the prices received for meat and meat preparations (+17.8%); non-ferrous metals (+10.0%); power generating, general industrial and other specialised machinery and equipment (+10.2%) and telecommunications equipment, sound recording apparatus and electrical machinery, n.e.s. (+20.0%).
Major Export Products
Australia's major export products based on contribution are:
- Metalliferous ores and metal scrap (SITC 28) (-7.9%)
- Coal, coke and briquettes (SITC 32) (-3.5%)
- Gas, natural and manufactured (SITC 34) (-23.9%)
- Gold, non-monetary (excluding gold ores and concentrates) (SITC 97) (+0.6%)
- Petroleum, petroleum products and related materials (SITC 33) (+10.9%)