Australia's export prices rose by 3.8 percent quarter-on-quarter in the June quarter 2019, following a 4.5 percent climb in the previous period and compared to market expectations of a 2.8 percent advance. Main contributors to the increase were: metalliferous ores and metal scrap (21.4 percent), reflecting local and global supply disruptions for iron ore and sustained demand from China; petroleum, petroleum products and related materials (8.9 percent), due to a decrease in global supply; meat and meat preparations (4.6 percent), due to increased global demand for Australian beef; and gold, non-monetary (2.0 percent), amid concerns over global economic growth and increasing investor demand. These rises were partially offset by falls in: gas, natural and manufactured (-17.8 percent); coal, coke and briquettes (-5.4 percent); and cereals and cereal preparations (-4.9 percent). Through the year to the second quarter, the export price index increased 17.4 percent. Export Prices in Australia averaged 56.18 Index Points from 1974 until 2019, reaching an all time high of 113.30 Index Points in the second quarter of 2019 and a record low of 16.30 Index Points in the third quarter of 1974.
Export Prices in Australia is expected to be 115.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Export Prices in Australia to stand at 115.00 in 12 months time. In the long-term, the Australia Export Prices is projected to trend around 105.00 Index Points in 2020, according to our econometric models.