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ABS provided data on International Trade Price Indexes

Jan 27, 2023

The Australian Bureau of Statistics has provided statistical data on International Trade Price Indexes. According to the ABS, the export price index fell by 0.9% this quarter primarily due to the following:

  • Price falls for thermal and metallurgical coal by 7.8% as supply concerns for thermal coal eased and global steel demand remained low.
  • Another contributor to the fall was Metalliferous ores and metal scrap, which declined 0.9% due to weak Chinese iron ore demand stemming from COVID-19 restrictions and diminished economic growth.
  • Meat and meat preparations fell by 3.0%, driven by improved global supply, mainly out of the US, as drought conditions led to producers exporting record volumes of beef.

Export Price Index rose by 20.5% through the year mainly due to:

  • Coal, coke, and briquettes rose by 42.5%, and
  • Gas, natural, and manufactured increased by 46.2%

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