Australia's export prices jumped by 11.2 percent on quarter in Q1 2021, after a 5.5 percent gain in Q4. This was the second straight quarter of rises and the steepest pace since Q4 2016, as a recovery from the COVID-19 hit accelerated. Main contributors were: metalliferous ores and metal scrap (18.2%), driven by the demand for iron ore from China and constrained global supply; gas, natural, and manufactured (20.2%), due to the oil-linked contracts capturing the recovery in oil prices; petroleum (37.3%), driven by stronger oil demand and reduced global supply; and coal, coke, and briquettes (5.8%), reflecting the demand for thermal coal during the northern hemisphere winter. Offsetting contributors were gold, non-monetary (-9.7%); fish, molluscs (-26.8%), driven from lower demand for lobsters from China; and cereals and cereal preparations (-3.2%), driven from a record Australian harvest placing downward pressure on prices. Through the year to Q1, export prices surged 8.6%. source: Australian Bureau of Statistics
Export Prices in Australia averaged 58.24 points from 1974 until 2021, reaching an all time high of 121.30 points in the first quarter of 2021 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 May of 2021.
Export Prices in Australia is expected to be 116.00 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.