Australia's export prices unexpectedly rose by 5.5 percent on quarter in Q42020, easily beating market consensus of a 1.3 percent fall and shifting from a 5.1 percent drop in Q3. This was the first rise in export prices in three quarters and the steepest pace since Q1 2017, as the economy recovered from the COVID-19 hit. Main contributors to the advances 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 (5.6%), on the slow recovery in oil demand post-pandemic; gas, natural and manufactured (2.1%), due to the oil-linked contracts capturing the beginning of the recovery in oil prices; and coal, coke and briquettes (0.9%), amid demand for thermal coal during the northern hemisphere winter. Offsetting contributors were: gold, non-monetary (-4.0%); and meat and meat preparations (-2.4%. Through the year to Q4, export prices rose 0.3%. source: Australian Bureau of Statistics
Export Prices in Australia averaged 57.90 points from 1974 until 2020, reaching an all time high of 114.80 points in the third quarter of 2019 and a record low of 16.30 points in the third quarter of 1974. This page provides the latest reported value for - Australia Export Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Export Prices - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Export Prices in Australia is expected to be 112.00 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 111.00 in 12 months time. In the long-term, the Australia Export Prices is projected to trend around 108.00 points in 2022, according to our econometric models.