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International Trade Price Indexes, Australia

Contains indexes measuring changes in prices of imports of merchandise landed in Australia and exports of merchandise shipped from Australia

Reference period
September 2020
Released
29/10/2020
Future releases
  • Next Release 28/01/2021
    International Trade Price Indexes, Australia, December 2020
  • Next Release 29/04/2021
    International Trade Price Indexes, Australia, March 2021
  • Next Release 29/07/2021
    International Trade Price Indexes, Australia, June 2021
  • View all releases

Key statistics

  • Import price index fell 3.5% this quarter and 5.7% through the year.
  • Export price index fell 5.1% this quarter and 9.9% through the year.

  • The Australian dollar appreciated against the United States dollar.

    • The exchange rate had an downward effect on import and export prices this quarter.

    Main features

    September quarter key statistics

    Import price index

    • Fell 3.5% this quarter and 5.7% through the year.
       

    Main contributors to the fall were:

    • Telecommunications and sound recording equipment (-7.2%),
    • Office machines and ADP machines (-8.7%), and
    • Articles of apparel and clothing (-8.5%).
       

    Offsetting rises occurred in:

    • Petroleum, petroleum products and related materials (+5.2%)
    • Gold, non-monetary (+2.3%), and
    • Non-ferrous metals (+6.7%).
       

    Export price index

      • Fell 5.1% this quarter and 9.9% through the year.
         

      Main contributors to the fall were:

      • Gas, natural and manufactured (-39.7%),
      • Coal, coke and briquettes (-20.6%), and
      • Meat and meat preparations (-6.9%).
         

      Offsetting rises occurred in:

      • Metalliferous ores and metal scrap (+9.8%),
      • Petroleum, petroleum products and related materials (+37.4%), and
      • Gold, non-monetary (+2.3%).
         

      Exchange rate

      • The Australian dollar appreciated against the United States dollar.
        • This had an downward effect on import and export prices this quarter.

         

         Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
         % change% change
        Import Price Index all groups-3.5-5.7
        Food and live animals-3.60.3
        Beverages and tobacco-1.0-0.8
        Crude materials, inedible, except fuels1.5-8.6
        Mineral fuels, lubricants and related materials2.9-35.9
        Animal and vegetable oils, fats and waxes-13.6-0.5
        Chemicals and related products, n.e.s.-2.6-3.1
        Manufactured goods classified chiefly by material-3.9-1.5
        Machinery and transport equipment-4.5-1.1
        Miscellaneous manufactured articles-6.3-4.1
        Commodities and transactions, n.e.s.2.324.2
        Export Price Index all groups-5.1-9.9
        Food and live animals-5.91.3
        Beverages and tobacco-5.6-5.3
        Crude materials, inedible, except fuels8.33.7
        Mineral fuels, lubricants and related materials-24.6-36.7
        Animal and vegetable oils, fats and waxes-10.62.6
        Chemicals and related products, n.e.s.-2.4-6.9
        Manufactured goods classified chiefly by material-1.3-11.5
        Machinery and transport equipment-2.3-0.9
        Miscellaneous manufactured articles-10.7-7.7
        Commodities and transactions, n.e.s.2.122.2
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        Use of price indexes in contracts

        Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

        Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.

        Changes in this issue

        The Import Price Index and the Export Price Index have been reweighted for the September quarter 2020. These indexes are annually reweighted each September quarter, using import and export values. A detailed explanation of the reweighting methodology and data sources is available in the Methodology, under the heading Items and weights. The new weighting patterns are provided in the Appendix of this issue. As a consequence of the annual reweighting, the points contribution data for the June quarter 2020 shown in Tables 2, 8 and 17 have been updated from those published in the previous issue of this publication.

        Analysis of price changes

        Import price index (-3.5%)

        The main contributors to the fall were:

        • Telecommunications and sound recording equipment (-7.2%), due to delays in new phone model releases and discounting to older models.
        • Office machines and ADP machine (-8.7%), due to the impact of exchange rates on prices.
        • Articles of apparel and clothing (-8.5%), due to the impact of exchange rates on prices and discounting of stock.

        The main offsetting contributors were:

        • Petroleum, petroleum products and related materials (+5.2%), due to reduced global supply and increased demand as economic activity picked up.
        • Gold, non-monetary (+2.3%), due to continued demand for the safe-haven commodity in an uncertain global market.
        • Non-ferrous metals (+6.7%), as production activities resumed with the continued easing of lockdowns.

        Through the year, the Import Price Index fell 5.7%. The main contributors were:

        • Petroleum, petroleum products and related materials (-34.5%), and
        • Telecommunications and sound-recording equipment (-4.9%).

        Major import products

        Price movements for Australia's major import products this quarter were:

        • Petroleum, petroleum products and related materials (+5.2%).
        • Road vehicles (including air-cushion vehicles) (-1.1%).
        • Electrical machinery, apparatus and appliances, n.e.s. (-5.0%).
        • Telecommunications and sound-recording equipment (-7.2%).
        • General industrial machinery and equipment, n.e.s. (-5.2%).
           

        Export price index (-5.1%)

          The main contributors to the fall were:

          • Gas, natural and manufactured (-39.7%), due to the oil-linked contracts capturing the historic low oil prices in the April/May period.
          • Coal, coke and briquettes (-20.6%), reflecting falling global demand for thermal and metallurgical coal.
          • Meat and meat preparations (-6.9%), driven by high global supply and appreciation of the Australian dollar.

          The main offsetting contributors were:

          • Metalliferous ores and metal scrap (+9.8%), due to continued global demand for iron ore and supply constraints from Brazil.
          • Petroleum, petroleum products and related materials (+37.4%), due to reduced global supply and increased demand as economic activity picked up.
          • Gold, non-monetary (+2.3%), due to continued demand for the safe-haven commodity in an uncertain global market.

          Through the year, the Export Price Index fell 9.9%. The main contributors were:

          • Gas, natural and manufactured (-43.0%), and
          • Coal, coke and briquettes (-36.5%).

          Major export products

            Price movements for Australia's major export products this quarter were:

            • Metalliferous ores and metal scrap (+9.8%).
            • Coal, coke and briquettes (-20.6%).
            • Gas, natural and manufactured (-39.7%).
            • Gold, non–monetary (excluding gold ores and concentrates) (+2.3%).
            • Meat and meat preparations (-6.9%).
               

            Data downloads - time series spreadsheets

            Tables 1, 3 and 12. Import price index by SITC, index numbers and percentage changes

            Tables 4, 5 and 6. Import price index by balance of payments broad economic categories, index numbers

            Tables 7 and 9. Export price index by SITC, index numbers and percentage changes

            Tables 10 and 11. Export price index by balance of payments classification of exports, index numbers

            Table 13. Import price index by selected HTISC section, index numbers

            Tables 14 and 15. Import price index by selected ANZSIC division and subdivision, index numbers

            Table 16. Import price index: BEC category, index numbers

            Table 18. Export price index by selected AHECC section, index numbers

            Table 19. Export price index by selected ANZSIC division and subdivision, index numbers

            All time series spreadsheets

            Data downloads - data cubes

            Table 2 Import price index, SITC contribution to all groups index

            Table 8 Export price index, SITC contribution to all groups index

            Table 17 Export price index, AHECC and ANZSIC contribution to all groups index

            Previous catalogue number

            This release previously used catalogue number 6457.0.