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Financial News: Australia Export Prices Decline 3.0% In Q3

Australia Export Prices Decline 3.0% In Q3

10/25/2017 - 21:30:00 (RTTNews)

(RTTNews) - Export prices in Australia skidded 3.0 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for a decline of 4.0 percent following the 5.7 percent drop in the three months prior.

The fall was driven by lower prices received for coal, coke and briquettes (-7.4 percent), metalliferous ores and metal scrap (-1.5 percent) and gas, natural and manufactured (-4.0 percent).

On a yearly basis, the export price index spiked 14.2 percent, driven by coal, coke and briquettes (62.1 percent).

Import prices were down 1.6 percent on quarter, missing slightly forecasts for a decline of 1.5 percent following the 0.1 percent contraction in the second quarter.

The fall was driven by lower prices paid for telecommunication and sound recording equipment (-7.8 percent), petroleum, petroleum products and related materials (-2.0 percent) and office and automatic data processing machines (-4.7 percent).

On a yearly basis, the import price index fell 0.4 percent, driven by telecommunications and sound recording equipment (-15.9 percent).

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