COMMENTARY
IMPORT PRICE INDEX
The Import Price Index fell 0.2% in the March quarter 2015. This fall was driven mainly by falls in the prices paid for petroleum, petroleum products and related materials (-23.6%) and gas, natural and manufactured (-11.7%). Partly offsetting these falls were rises in the prices paid for office machines and automatic data-processing machines (+8.8%); general industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (+5.0%); road vehicles (including air-cushion vehicles) (+2.4%); electrical machinery, apparatus and appliances, n.e.s., and electrical parts thereof (including non-electrical counterparts, n.e.s., of electrical household-type equipment) (+5.8%); miscellaneous manufactured articles, n.e.s. (+6.3%); articles of apparel and clothing accessories (+6.9%); transport equipment (excluding road vehicles) (+13.6%); manufactures of metals, n.e.s. (+6.2%); telecommunications and sound recording equipment and reproducing apparatus and equipment (+4.1%); machinery specialised for particular industries (+5.2%); furniture and parts thereof (+9.5%); power-generating machinery and equipment (+5.7%) and chemical materials and products n.e.s. (+10.3%). Over the quarter depreciation in the value of the Australian dollar had an upward effect on the prices paid for all of Australia’s major imported products.
Through the year to the March quarter 2015, the Import Price Index fell 3.0%. The fall was driven mainly by falls in the prices paid for petroleum, petroleum products and related materials (-38.4%); medicinal and pharmaceutical products (-3.3%); rubber manufactures, n.e.s. (-7.4%); gold, non-monetary (excluding gold ores and concentrates) (-10.8%) and non-ferrous metals (-10.0%). Partly offsetting these through the year falls were rises in the prices paid for office machines and ADP machines (+11.8%); Telecommunications and sound recording equipment and reproducing apparatus and equipment (+5.2%); road vehicles (including air-cushion vehicles) (+3.4%); general industrial machinery and equipment, n.e.s., and machine parts, n.e.s.(+4.9%) and textile yarn, fabrics, made-up articles, n.e.s., and related products (+11.4%).
Major Import Products
Australia's major import products based on contribution are;
- Petroleum, petroleum products and related materials (SITC 33) (-23.6%)
- Road vehicles (including air-cushion vehicles) (SITC 78) (+2.4%)
- General industrial machinery and equipment, n.e.s., and machine parts, n.e.s. (SITC 74) (+5.0%)
- Electrical machinery, etc. and parts thereof (SITC 77) (+5.8%)
- Telecommunications and sound recording equipment and reproducing apparatus and equipment (SITC 76) (+4.1%)
EXPORT PRICE INDEX
The Export Price Index fell 0.8% in the March quarter 2015. This fall was driven mainly by falls in the prices received for petroleum, petroleum products and related materials (-25.1%); metalliferous ores and metal scrap (-2.7%); gas, natural and manufactured (-7.8%); and meat and meat preparations (-3.5%). Partly offsetting these falls were rises in the prices received for coal, coke and briquettes (+4.4%); cereals and cereal preparations (+5.7%); and textile fibres and their wastes (+7.1%). Over the quarter depreciation in the value of the Australian dollar had an upward effect on the prices received for all of Australia’s major exported products.
Through the year to the March quarter 2015, the Export Price Index fell 12.2%. This fall was driven by falls in the prices received for metalliferous ores and metal scrap (-31.5%); petroleum, petroleum products and related materials (-41.2%); coal, coke and briquettes (-10.1%); gold, non-monetary (excluding gold ores and concentrates) (-3.6%) and oil seeds and oleaginous fruits (-15.9%). Partly offsetting these through the year falls were rises in the prices received for meat and meat preparations (+20.6%); non-ferrous metals (+9.4%); cereals and cereal preparations (+5.7%); gas, natural and manufactured (+2.9%) and telecommunications equipment, sound recording apparatus and electrical machinery, n.e.s. (+19.1%).
Major Export Products
Australia's major export products based on contribution are;
- Metalliferous ores and metal scrap (SITC 28) (-2.7%)
- Coal, coke and briquettes (SITC 32) (+4.4%)
- Gas, natural and manufactured (SITC 34) (-7.8%)
- Gold, non-monetary (excluding gold ores and concentrates) (SITC 97) (+1.4%)
- Petroleum, petroleum products and related materials (SITC 33) (-25.1%)
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