The Export price index rose 5.5% this quarter. The main contributors to the rise were:
- Metalliferous ores and metal scrap (+11.5%), driven by the demand for iron ore from China.
- Non-ferrous metals (+9.6%), due to increased global manufacturing demand.
- Petroleum, petroleum products and related materials (+5.6%), reflecting the slow recovery in oil demand post COVID-19.
- Gas, natural and manufactured (+2.1%), due to the oil-linked contracts capturing the beginning of the recovery in oil prices.
- Coal, coke and briquettes (+0.9%), reflecting the demand for thermal coal during the northern hemisphere winter.
The main offsetting contributors were:
- Gold, non-monetary (-4.0%), due to easing global uncertainty.
- Meat and meat preparations (-2.4%), driven by competition in the global market and appreciation of the Australian dollar.
Through the year, the Export Price Index rose 0.3%. The main contributors were:
- Gas, natural and manufactured (-40.4%), and
- Coal, coke and briquettes (-24.9%).