2017.07.2622:16:00UTC+00Australia Export Prices Fall 5.7% In Q2

Export prices in Australia skidded 5.7 percent on quarter in the second quarter of 2017, the Australian Bureau of Statistics said on Thursday.

That missed forecasts for a decline of 5.5 percent following the 8.8 percent gain in the previous three months.

The fall was driven by lower prices received for crude materials, inedible, except fuels (-13.1 percent) and Mineral fuels, lubricants, and related materials (-4.8 percent).

Offsetting these price falls were rises in food and live animals (+1.8 percent) and commodities and transactions, (non-monetary gold) (+3.1 percent).

On a yearly basis, the Export Price Index rose 22.5 percent, driven by mineral fuels, lubricants, and related materials (+68.3 percent).

Import prices eased 0.1 percent on quarter, also shy of forecasts for an increase of 0.7 percent following the 1.2 percent gain in the three months prior.

The fall was driven by lower prices paid for mineral fuels, lubricants, and related materials (-4.8 percent) and machinery and transport equipment (-0.3 percent).

Offsetting these price falls were rises in manufactured goods classified chiefly by material (+1.9 percent); chemicals and related products (+1.7 percent); and miscellaneous manufactured articles (+1.0 percent).

On a yearly basis, the Import Price Index rose 0.3 percent, driven by mineral fuels, lubricants, and related materials (+13.9 percent).