Australia's export prices surged by 18% on quarter in Q1 2022, accelerating sharply from a 3.5% gain in Q4 2021. This was the sixth straight quarter of rises, and the fastest pace since the series began in 1975, amid a lift in COVID-19 restrictions and surging commodity prices. Main contributors to the rise were: coal, coke, and briquettes (32.0%), driven by surging global demand for thermal and coking coals; petroleum, petroleum products (27.5%), led by global oil demand outpacing growth in global supply; metalliferrous and metal scrap (25.5%), driven by the increase in demand for iron ore from China; gas, natural and manufactured (13.0%), due to the rise in oil-linked contracts capturing the continued oil price rises in late 2021; and gold, non-monetary (4.8%), through increased demand for the safe-haven commodity due to growing global inflationary pressures and uncertainty over the Russia-Ukraine conflict. Through the year to Q1, export prices soared 46.7% after rising 38.3% in Q4. source: Australian Bureau of Statistics
Export Prices in Australia averaged 58.66 points from 1974 until 2021, reaching an all time high of 137.30 points in the second 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 June of 2022.
Export Prices in Australia is expected to be 154.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Export Prices is projected to trend around 128.00 points in 2023 and 108.00 points in 2024, according to our econometric models.