–3.8–0.3Commodities and transactions, n.e.s.

–4.7–2.7Miscellaneous manufactured articles

1.6–1.9Machinery and transport equipment

–13.5–4.4Manufactured goods classified chiefly by material

5.20.2Chemicals and related products, n.e.s.

–11.4–4.9Animal and vegetable oils, fats and waxes

–12.0–5.8Mineral fuels, lubricants and related materials

–23.0–11.7Crude materials, inedible, except fuels

4.94.7Beverages and tobacco

–5.0–0.3Food and live animals

–13.4–6.4Export Price Index all groups

–1.5–0.3Commodities and transactions, n.e.s.

4.2–0.9Miscellaneous manufactured articles

1.0–0.8Machinery and transport equipment

0.4–1.3Manufactured goods classified chiefly by material

–0.1–1.7Chemicals and related products, n.e.s.

–13.3–4.6Animal and vegetable oils, fats and waxes

0.8–9.1Mineral fuels, lubricants and related materials

–5.3–3.7Crude materials, inedible, except fuels

–4.3–4.6Beverages and tobacco

1.9–1.9Food and live animals

1.2–2.4Import Price Index all groups

% change% change

Sep Qtr 11 toSep Qtr 12

Jun Qtr 12 toSep Qtr 12

K E Y F I G U R E S

I M P O R T P R I C E I N D E X

! The Import Price Index fell 2.4% in the September quarter 2012. Through the year to the

September quarter 2012, the Import Price Index rose 1.2%.

E X P O R T P R I C E I N D E X

! The Export Price Index fell 6.4% in the September quarter 2012. Through the year to the

September quarter 2012, the Export Price Index fell 13.4%.

K E Y P O I N T S

E M B A R G O : 1 1 . 3 0 A M ( C A N B E R R A T I M E ) T H U R S 1 N O V 2 0 1 2

INTERNATIONAL TRADE PRICEINDEXES A U S T R A L I A

6457.0S E P T E M B E R Q U A R T E R 2 0 1 2

For further informationabout these and relatedstatistics, contact theNational Information andReferral Service on1300 135 070.

IMPORT PRICE INDEX: all groupsQuarterly % change

Sep2008

Sep2009

Sep2010

Sep2011

Sep2012

%change

–10

–5

0

5

10

15

EXPORT PRICE INDEX: all groups Quarterly % change

Sep2008

Sep2009

Sep2010

Sep2011

Sep2012

%change

–30

–20

–10

0

10

20

I N Q U I R I E S

w w w . a b s . g o v . a u

31 October 2013September 2013

1 August 2013June 2013

2 May 2013March 2013

31 January 2013December 2012

RELEASE DATEISSUE (Quarter)FO R T H C O M I N G I S S U E S

B r i a n P i n k

Au s t r a l i a n S t a t i s t i c i a n

Data referenced in the Key Points and Commentary are available from the tables shown

in this publication, or in the corresponding tables of this publication on the ABS website

<http://www.abs.gov.au>.

DA T A RE F E R E N C E S

Any discrepancies between totals and sums of components are due to rounding.RO U N D I N G

Both the Import Price Index and the Export Price Index data have been reweighted for

the September quarter 2012. This is in line with the ABS policy of reweighting these

indexes annually for the September quarter, as explained in paragraphs 8–10 of the

Explanatory Notes. The new weighting patterns are provided in Appendix 1 of this issue.

As a consequence of the annual reweighting, the points contribution data for the June

quarter 2012 shown in Tables 2, 8 and 17 differ from that published in the previous issue

of this publication.

From the September quarter 2012, all index numbers are calculated on a new index

reference period of 2011–12 = 100.0. Period–to–period percentage changes may differ

slightly to those previously published due to rounding and the re–referencing. These

differences do not constitute a revision. Re–referencing conversion factors are available

from the ABS website in Table 20 of the 'Downloads' tab of this issue. Further

information on re–referencing can be found in Appendix 2 of this issue and in Chapter

12 of Producer and International Trade Price Indexes: Concepts, Sources and Methods,

2006 (cat. no. 6429.0).

CH A N G E S IN TH I S I S S U E S

The ABS published the outcomes from a major review of the Producer and International

Trade Price Indexes on 6 March 2012. More information on the review can be found in

Information Paper: Outcome of the Review of the Producer and International Trade

Price Indexes, 2012 (cat. no. 6427.0.55.004).

Details relating to the implementation of the outcomes of the review can be found in

Information Paper: Implementation of the Review of the Producer and International

Trade Price Indexes, 2012 (cat. no. 6427.0.55.005), released on 28 September 2012.

RE V I E W OF TH E

PR O D U C E R AN D

IN T E R N A T I O N A L TR A D E

PR I C E IN D E X E S

2 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

N O T E S

On 1 July 2012, the Australian Government introduced a $23 per tonne carbon price on

greenhouse emissions, to be paid directly by Australia's largest greenhouse gas emitting

companies, together with compensation and incentive packages. Carbon pricing changes

the relative prices of high and low emission-intensive goods. The extent that any carbon

costs translate into general increases in prices depends on a range of factors. Carbon

pricing will be occurring at the same time as normal variations in prices are occurring

driven by productivity, the terms of trade or changing preferences. The extent to which

businesses pass on the carbon price will depend on their consideration of issues such as

operating costs, margins, and other economic factors (such as degree of competition).

The Australian Bureau of Statistics (ABS) released an information paper 'Recording

emissions reduction schemes in ABS statistics' (cat. no. 5257.0.55.001) on 30 July 2012.

This information paper summarises the nature of emissions permits measures

introduced under the Clean Energy Act 2011, and how the ABS expects to include

estimates of various carbon credit schemes in economic and environment statistics,

commencing with the September quarter 2012.

The ABS will not be able to quantify the impact of carbon pricing, compensation or other

government incentives and will not be producing estimates of price change exclusive of

the carbon price or measuring the impact of the carbon price. Any changes in the prices

charged by companies for their outputs, paid by companies for their inputs or paid by

consumers, will be reflected in the suite of price indexes compiled and published by the

ABS. Further information on the expected impacts of the introduction of carbon pricing

is available in the publication Strong Growth, Low Pollution - Modelling a Carbon Price

(The Treasury, 2011).

I N T R O D U C T I O N OF

CA R B O N PR I C I N G

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 3

I N T R O D U C T I O N O F C A R B O N P R I C I N G

The Export Price Index fell 6.4% in the September quarter 2012. This decrease was

driven mainly by falls in the prices received for metalliferous ores and metal scrap

(–12.1%), coal, coke and briquettes (–6.1%), petroleum, petroleum products and related

materials (–9.6%), and textile fibre and their waste (–15.8%). These decreases were partly

offset by rises in the prices received for inorganic chemicals (+18.1%).

Through the year to the September quarter 2012, the Export Price Index fell 13.4%. This

decrease was driven mainly by falls in the prices received for metalliferous ores and metal

scrap (–23.9%), coal, coke and briquettes (–18.6%), non–ferrous metals (–19.5%), textiles

(–25.7%), cereals and cereal preparations (–15.2%) and petroleum, petroleum products

and related materials (–7.1%). Partly offsetting these through the year falls were rises in

the prices received for gas, natural and manufactured (+7.8%), medicinal and

pharmaceutical products (+7.0%), meat and meat preparations (+3.7%) and vegetables

and fruit (+9.2%).

EX P O R T PR I C E IN D E X

The Import Price Index fell 2.4% in the September quarter 2012. This decrease was

driven mainly by falls in the prices paid for petroleum, petroleum products and related

materials (–10.0%), machinery specialised for particular industries (–4.0%) and medicinal

and pharmaceutical products (–3.3%). The appreciation of the Australian dollar against

all of our major trading currencies contributed to this decrease. These decreases were

partly offset by rises in the prices paid for professional, scientific, and controlling

instruments and apparatus, n.e.s. (+2.2%).

Through the year to the September quarter 2012, the Import Price Index rose 1.2%. This

increase was driven mainly by rises in the prices paid for manufactures of metals, n.e.s.

(+7.3%) and chemical materials and products, n.e.s. (+18.8%). Partly offsetting these

through the year rises were falls in the prices paid for medicinal and pharmaceutical

products (–6.5%), non–ferrous metals (–11.8%) and fertilisers (excluding crude)

(–12.1%).

IM P O R T PR I C E IN D E X

4 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

C O M M E N T A R Y

29Re–referencing the International Trade Price Indexes2 . . . . . . . . . . . . . . .24Index structures and weighting patterns1 . . . . . . . . . . . . . . . . . . . . . . .

AP P E N D I X E S

Conversion Factors, from index reference period 1989–90 to 2011–1220

Export price index, by selected ANZSIC industry of origin division and

subdivision

19

Export price index, by selected AHECC section18

Export price index, AHECC and ANZSIC contribution to all groups

index

17

Import price index, by BEC category16

Import price index, by selected ANZSIC industry of origin subdivision15

Import price index, by selected ANZSIC industry of origin division14

Import price index, by selected HTISC section13

Import price index, by selected SITC division12

AD D I T I O N A L TA B L E S AV A I L A B L E ON AB S WE B S I T E

19

Export price index: Non–rural goods, balance of payments classification

of exports

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18

Export price index: Rural goods, balance of payments classification of

exports

10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17Export price index: Selected SITC sections9 . . . . . . . . . . . . . . . . . . . . .15Export price index: SITC contribution to all groups index8 . . . . . . . . . . . .14Export price index: All groups, index numbers and percentage changes7 . . . .12

Import price index: Intermediate and other merchandise goods,

balance of payments broad economic categories

6. . . . . . . . . . . . . . . . . .

11

Import price index: Capital goods, balance of payments broad

economic categories

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

Import price index: Consumption goods, balance of payments broad

economic categories

4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9Import price index: Selected SITC sections3 . . . . . . . . . . . . . . . . . . . . . .7Import price index: SITC contribution to all groups index2 . . . . . . . . . . . . .6Import price index: All groups, index numbers and percentage changes1 . . . . .

I N T E R N A T I O N A L TR A D E PR I C E IN D E X E S

page

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 5

L I S T O F T A B L E S

. . not applicable(a) Index reference period: 2011–12 = 100.0.

1.2–2.499.4September3.72.4101.8June2.1–1.299.4March

20124.72.4100.6December

–1.60.098.2September–0.90.898.2June0.11.497.4March

2011–0.9–3.796.1December–1.50.799.8September–5.21.899.1June

–12.90.397.3March2010

–15.5–4.297.0December–2.3–3.1101.3September5.8–6.4104.5June

14.7–2.7111.7March2009

21.110.7114.8December9.65.0103.7September3.61.498.8June2.22.797.4March

2008–2.30.294.8December

2007

. .2.1100.02011–12

. .–0.897.92010–11

. .–9.298.72009–10

. .12.8108.72008–09

% change from

corresponding

quarter of

previous year

% change

from

previous

period

Index

numbersPe r i od

IMPORT PRICE INDEX (a) : Al l groups , index numbers and percentage changes1

6 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(b) Differs from previously publsihed June quarter 2012 due to the annualreweighting.

(a) Index reference period: 2011–12 = 100.0.

–0.012.962.979 Commodities and transactions, n.e.s.–0.1011.5711.678 Miscellaneous manufactured articles–0.3341.3141.647 Machinery and transport equipment–0.1311.2511.386 Manufactured goods classified chiefly by material–0.1810.8010.985 Chemicals and related products, n.e.s.–0.010.240.254 Animal and vegetable oils, fats and waxes–1.5215.2616.783 Mineral fuels, lubricants and related materials–0.041.131.172 Crude materials, inedible, except fuels–0.040.810.851 Beverages and tobacco–0.084.034.110 Food and live animals

S I T C SE C T I O N S

–2.499.4101.8All groups

AL L GR O U P S

Jun Qtr 2012 to

Sep Qtr 2012

Sep Qtr

2012

Jun Qtr

2012(b)

CHANGETO POINTSCONTRIBUTION

POINTSCONTRIBUTIONTO ALL GROUPS

Catego r y

IMPORT PRICE INDEX (a) , SITC cont r ibu t ion to al l groups index2

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 7

(b) Differs from previously publsihed June quarter 2012 due to the annualreweighting.

(a) Index reference period: 2011–12 = 100.0.

–0.012.962.9797 Gold, non-monetary–0.053.623.6789 Miscellaneous manufactured articles, n.e.s.–0.010.600.6188 Photographic and optical goods0.052.282.2387 Professional, scientific and controlling instruments and apparatus, n.e.s.

–0.010.570.5885 Footwear–0.042.412.4584 Articles of apparel and clothing0.000.350.3583 Travel goods and handbags

–0.021.191.2182 Furniture and parts thereof–0.010.560.5781 Prefabricated buildings and fixtures n.e.s.–0.062.082.1479 Other transport equipment0.0512.8112.7678 Road vehicles (incl. air–cushion vehicles)

–0.024.944.9677 Electrical machinery, etc. and parts thereof–0.055.145.1976 Telecommunications and sound recording equipment and reproducing apparatus and equipment0.054.254.2075 Office machines and ADP machines

–0.094.864.9574 General industrial machinery and equipment, n.e.s., and machine parts, n.e.s.–0.194.855.0472 Machinery specialised for particular industries–0.032.072.1071 Power generating machinery and equipment–0.032.692.7269 Manufactures of metals, n.e.s.–0.061.411.4768 Non-ferrous metals–0.021.871.8967 Iron and steel–0.011.021.0366 Non-metallic mineral manufacts–0.011.091.1065 Textile yarn, fabrics, made-up articles, n.e.s., and related products–0.031.101.1364 Paper, paperboard and articles of paper pulp, of paper or of paperboard–0.010.330.3463 Cork and wood manufactures0.021.691.6762 Rubber manufactures n.e.s.0.000.050.0561 Leather and leather manufactures0.030.930.9059 Chemical materials and products, n.e.s.0.000.630.6358 Plastics in non-primary forms0.000.760.7657 Plastics in primary forms

–0.020.750.7756 Fertilizers (excluding crude)0.030.870.8455 Essential oils etc

–0.164.694.8554 Medicinal products–0.010.260.2753 Dyeing and colouring materials–0.010.690.7052 Inorganic chemicals–0.061.211.2751 Organic chemicals–0.010.190.2042 Fixed vegetable fats and oils–1.5714.0715.6433 Petroleum, petroleum products and related materials0.000.120.1227 Crude fertilizers and minerals0.000.040.0426 Textile Fibres and Wastes

–0.010.070.0825 Pulp and Waste Paper–0.010.280.2924 Cork and wood–0.010.060.0723 Crude rubber–0.010.100.1112 Tobacco–0.030.710.7411 Beverages0.000.780.7809 Misc edible products

–0.020.610.6307 Coffee, tea cocoa–0.030.810.8405 Vegetables, fruit and nuts–0.010.580.5903 Fish, crustaceans, molluscs and aquatic invertebrates and preparations thereof–0.010.300.3102 Dairy products and eggs

S I T C D I V I S I O N S

Jun Qtr 2012 to

Sep Qtr 2012

Sep Qtr

2012

Jun Qtr

2012(b)

CHANGETO POINTSCONTRIBUTION

POINTSCONTRIBUTIONTO ALL GROUPS

Catego r y

IMPORT PRICE INDEX (a) , SITC cont r ibu t ion to al l groups index co n t i n u e d2

8 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(a) Index reference period: 2011–12 = 100.0.

98.2101.5100.199.699.791.095.396.896.299.8September98.5102.4100.9100.9101.495.4104.8100.5100.8101.7June98.999.399.299.498.594.7100.894.999.399.7March

2012102.9100.9100.8100.6100.4105.199.8102.499.4100.7December

99.797.499.199.299.8104.994.5102.2100.597.9September87.296.199.598.099.8107.997.2103.2102.496.9June84.598.8102.098.898.599.087.4104.0103.596.1March

201184.899.2103.698.898.595.277.0101.3103.294.3December83.1106.4108.1103.4102.289.277.8101.5105.499.8September82.7105.4107.6100.1100.785.078.4104.7105.3101.0June74.8103.9108.898.298.292.373.694.6107.198.7March

201073.3104.1108.297.0100.397.974.090.2107.895.2December69.6112.2114.5103.3104.2103.674.490.1108.3101.5September73.2120.5121.6108.0108.4120.364.692.1108.4108.4June82.5134.8129.1119.3116.1140.460.9127.9110.1111.9March

200971.3128.2124.3117.0127.4137.990.2162.5103.5117.0December58.8100.9105.299.2109.0121.1120.6124.8102.297.4September57.197.5104.194.699.3120.7107.6111.299.495.5June61.4100.2107.194.597.4111.292.8101.999.795.1March

200853.099.5107.394.296.494.483.695.798.790.1December

2007

100.0100.0100.0100.0100.0100.0100.0100.0100.0100.02011–1284.9100.1103.399.899.897.884.9102.5103.696.82010–1175.1106.4109.899.7100.994.775.194.9107.199.12009–1071.5121.1120.1110.9115.2129.984.1126.8106.1108.72008–09

Commodities

and

transactions,

n.e.s. (9)

Miscellaneous

manufactured

articles (8)

Machinery

and

transport

equipment

(7)

Manufactured

goods

classified

chiefly by

material (6)

Chemicals

and

related

products,

n.e.s. (5)

Animal and

vegetable

oils, fats

and

waxes (4)

Mineral

fuels,

lubricants

and related

materials (3)

Crude

materials,

inedible,

except

fuels (2)

Beverages

and

tobacco

(1)

Food

and live

animals

(0)Pe r i od

IMPORT PRICE INDEX (a) : SITC sect i ons3

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 9

(a) Index reference period: 2011–12 = 100.0.

98.1101.9100.4100.298.199.599.5September100.5102.1101.8100.299.3101.8100.8June

97.199.199.798.797.399.698.4March2012

102.499.7101.8100.2101.6100.4101.2December100.099.096.8100.9101.998.199.5September102.399.391.4101.7101.897.299.6June103.0102.094.0101.6106.197.1100.6March

2011104.3103.992.9102.6107.495.8101.2December108.7111.199.2103.1116.4100.6105.4September108.2109.995.8104.2120.9102.2105.6June106.6109.992.5106.1122.9100.5104.9March

2010104.7106.792.6105.6122.898.0103.6December108.4115.0101.4107.7132.0103.4108.7September113.1125.1110.4109.2140.4109.1114.0June120.9140.2123.3110.2149.1113.2120.8March

2009118.4135.3116.1106.1145.8116.0117.7December102.4105.689.8101.7128.299.3102.2September100.5101.485.3102.1121.697.4100.2June101.3106.588.6102.9126.997.5101.3March

2008102.6105.988.5100.7130.493.0100.3December

2007

100.0100.0100.0100.0100.0100.0100.02011–12104.6104.194.4102.3107.997.7101.72010–11107.0110.495.6105.9124.7101.0105.72009–10113.7126.6109.9106.8140.9109.4113.72008–09

Consumption

goods, n.e.s.

Toys,

books and

leisure

goods

Textiles,

clothing

and

footwear

Non-industrial

transport

equipment

Household

electrical

items

Food and

beverages,

mainly for

consumption

Consumptiongoods total

BALANCE OF PAYMENTS BROAD ECONOMIC CATEGORIES

IMPORT PRICE INDEX (a) : Consumpt ion goods4

10 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(a) Index reference period: 2011–12 = 100.0.

103.3102.4102.499.7101.298.4100.4September101.4100.8103.8100.5100.6101.1101.1June

98.6102.099.498.697.799.499.3March2012

101.098.4100.9102.7101.8101.3101.1December99.198.995.998.299.998.398.5September98.899.595.5100.5101.497.498.8June

102.6100.999.9104.3107.999.9102.2March2011

104.1102.5101.9107.0111.1101.6104.2December109.7101.7110.7113.3122.0106.3109.5September111.598.4109.8112.4122.9104.3108.4June108.7103.0108.3113.6123.3105.8109.5March

2010112.7100.7106.2114.2123.8104.6109.1December121.9107.1117.2122.3136.4110.1116.8September125.5108.2133.5132.5150.4119.5125.4June136.0113.1146.8145.4167.6127.6135.3March

2009129.4107.0136.7146.3165.4121.1130.0December102.895.6101.7119.5128.997.7105.6September107.794.498.3119.9128.995.5104.8June108.697.4102.0126.2139.696.5107.5March

2008108.798.0101.5125.0143.997.8108.3December

2007

100.0100.0100.0100.0100.0100.0100.02011–12103.8101.2102.0106.3110.6101.3103.72010–11113.7102.3110.4115.6126.6106.2111.02009–10123.4106.0129.7135.9153.1116.5124.12008–09

Capital

goods,

n.e.s.

Industrial

transport

equipment,

n.e.s.

Civil

aircraft

Telecommuni-

cations

equipment

ADP

equipment

Machinery

and

industrial

equipment

Capitalgoods

total

BALANCE OF PAYMENTS BROAD ECONOMIC CATEGORIES

Per i od

IMPORT PRICE INDEX (a) : Cap i ta l goods5

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 11

(a) Index reference period: 2011–12 = 100.0.

103.6100.5101.9100.095.698.093.598.698.6September107.3101.3101.3101.7104.9101.896.1102.9102.6June100.099.597.8100.2100.994.796.8100.1100.0March

201294.9100.8101.6100.399.7101.3103.199.9100.1December97.798.499.397.894.4102.2104.097.197.3September91.397.6101.097.696.8106.0106.897.697.1June87.7100.9108.299.387.2105.799.394.293.7March

201187.6101.6111.699.776.9101.695.990.190.0December92.0106.8123.8103.177.499.996.693.492.9September86.7106.2123.6102.678.5106.191.392.591.9June88.4106.3123.2100.173.897.192.489.688.4March

2010103.2107.1123.598.574.394.590.690.188.6December109.1113.4138.0103.474.497.494.293.991.4September111.7118.8156.7109.164.498.7103.693.591.5June126.2126.4179.1116.460.2138.9109.299.397.8March

2009129.0121.7174.9111.689.0185.0119.1111.8107.5December114.4100.8134.394.0121.3139.699.7109.3103.8September

94.299.1132.991.7109.1121.496.3100.695.8June93.1101.2145.594.093.8106.588.395.091.4March

200888.9101.9149.792.084.898.677.290.686.7December

2007

100.0100.0100.0100.0100.0100.0100.0100.0100.02011–1289.7101.7111.299.984.6103.399.793.893.42010–1196.9108.3127.1101.275.398.892.191.590.12009–10

120.3116.9161.3107.883.7140.6107.9103.5100.22008–09

Organic and

inorganic

chemicals

Other

parts

for

capital

goods

Parts for

ADP

equipment

Parts for

transport

equipment

Fuels and

lubricants

Primary

industrial

supplies,

n.e.s.

Food and

beverages,

mainly for

industry

Intermediate

and other

goods total

excluding

non-

monetary

gold

Intermediateand other merchandise

goods total

BALANCE OF PAYMENTS BROAD ECONOMIC CATEGORIES

Per i od

IMPORT PRICE INDEX (a) : In te rmed ia te and othe r merchand i se goods6

12 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(a) Index reference period: 2011–12 = 100.0.

98.2100.3102.096.298.598.6September98.5101.6101.597.3100.7100.4June98.9100.397.199.2101.497.9March

2012102.999.7101.2102.2101.7101.6December

99.798.5100.3101.496.2100.2September87.298.0104.4102.391.598.1June84.598.1102.299.888.7100.5March

201184.897.2101.898.287.8104.3December83.1101.9115.7106.594.5105.9September82.799.0116.497.089.8105.1June74.896.7109.095.285.7108.0March

201073.396.2108.692.183.5108.8December69.6102.0112.7101.888.9114.3September73.3108.7120.7101.599.1122.7June82.5118.0132.6131.5109.7126.8March

200971.3129.0138.2132.1110.0120.3December58.8106.9104.0103.388.7115.3September57.199.195.692.184.7111.1June61.497.595.190.385.2111.6March

200853.094.194.492.084.3114.5December

2007

100.0100.0100.0100.0100.0100.02011–1284.998.8106.0101.790.6102.22010–1175.198.5111.796.587.0109.12009–1071.5115.7123.9117.1101.9121.32008–09

Non-

monetary

gold

Processed

industrial

supplies,

n.e.s.Plastics

Iron

and

steel

Textile

yarn

and

fabric

Paper and

paperboard

BALANCE OF PAYMENTS BROAD ECONOMIC CATEGORIES continued

Per i od

IMPORT PRICE INDEX (a) : In te rmed ia te and othe r merchand i se goods co n t i n u e d6

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 13

. . not applicable(a) Index reference period: 2011–12 = 100.0.

–13.4–6.490.5September–3.90.996.7June1.1–7.095.8March

201214.2–1.4103.0December

6.53.9104.5September10.56.1100.6June20.95.194.8March

201119.5–8.190.2December27.77.898.1September

7.116.191.0June–26.73.878.4March

2010–32.7–1.775.5December–20.7–9.676.8September

–0.1–20.685.0June42.7–4.6107.0March

200954.815.9112.2December32.813.796.8September13.313.585.1June

0.33.475.0March2008

–3.1–0.572.5December2007

. .4.3100.02011–12

. .19.395.92010–11

. .–19.880.42009–10

. .31.3100.32008–09

% change from

corresponding

quarter of

previous year

% change

from

previous

period

Index

numbersPe r i od

EXPORT PRICE INDEX (a) : Al l groups , index numbers and percentage changes7

14 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(b) Differs from previously published June quarter 2012 due to the annualreweighting.

(a) Index reference period: 2011–12 = 100.0.

–0.026.376.39Commodities and transactions not classsified elsewhere in the SITC9–0.051.891.94Miscellaneous manufactured articles8–0.104.854.95Machinery and transport equipment7–0.306.576.87Manufactured goods classified chiefly by material60.013.283.27Chemicals and related products, n.e.s.5

–0.010.200.21Animal and vegetable oils, fats and waxes4–1.5825.6827.26Mineral fuels, lubricants and related materials3–4.1431.2035.34Crude materials, inedible, except fuels20.040.870.83Beverages and tobacco1

–0.039.639.66Food and live animals0

S I T C SE C T I O N S

–6.290.596.7All groups

AL L GR O U P S

Jun Qtr 2012 to

Sep Qtr 2012

Sep Qtr

2012

Jun Qtr

2012(b)

CHANGEIN POINTSCONTRIBUTION

CONTRIBUTIONTO ALLGROUPS INDEX

Catego r y

EXPORT PRICE INDEX (a) : SITC cont r i bu t i on to al l groups index8

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 15

(b) Differs from previously published June quarter 2012 due to the annualreweighting.

(a) Index reference period: 2011–12 = 100.0.

0.015.625.61Gold, non–monetary (excluding gold, ores and concentrates)97–0.020.880.90Miscellaneous manufactured articles, n.e.s.89–0.010.090.10Photographic apparatus, equipment and supplies and optical goods, n.e.s.88–0.020.720.74Professional, scientific and controlling instruments and apparatus, n.e.s.870.000.080.08Prefabricated buildings and furniture and parts thereof81–82

–0.020.610.63Other transport equipment79–0.021.011.03Road vehicles (incl. air–cushion vehicles)78–0.030.960.99Telecommunications equipment, sound–recording apparatus and electrical machinery, n.e.s.76–77–0.022.272.29Power generating, general industrial and other specialised machinery and equipment71–75–0.194.504.69Non–ferrous metals68–0.070.770.84Iron and steel67–0.010.340.35Non–metallic mineral manufactures, n.e.s.660.000.300.30Paper, paperboard, and articles of paper pulp, of paper or of paperboard64

–0.010.070.08Rubber manufactures, n.e.s.620.000.090.09Leather, leather manufactures, n.e.s., and dressed furskins61

–0.020.340.36Chemical materials and products, n.e.s.59–0.010.120.13Plastics in non–primary forms580.000.160.16Plastics in primary forms570.011.621.61Medicinal and pharmaceutical products540.000.290.29Dyeing, tanning and colouring materials530.050.320.27Inorganic chemicals520.000.080.08Organic chemicals51

–0.020.120.14Animal oils and fats41–0.054.744.79Gas, natural and manufactured34–0.494.665.15Petroleum, petroleum products and related materials33–1.0416.2817.32Coal, coke and briquettes32–3.8027.7831.58Metalliferous ores and metal scrap28–0.010.340.35Crude fertilisers, other than those of division 56, and crude minerals (excluding coal, petroleum)27–0.311.651.96Textile fibres and their wastes260.000.420.42Cork and wood240.010.510.50Oil seeds and oleaginous fruits220.000.320.32Hides, skins and furskins, raw210.040.830.79Beverages110.000.340.34Miscellaneous edible products and preparations090.030.440.41Feeding stuff for animals (not including unmilled cereals)08

–0.010.100.11Coffee, tea, cocoa, spices and manufactures thereof07–0.070.610.68Sugars, sugar preparations and honey060.050.690.64Vegetables and fruit050.033.163.13Cereals and cereal preparations040.010.370.36Fish, crustaceans, molluscs and aquatic invertebrates and preparations thereof03

–0.040.780.82Dairy products and birds' eggs020.012.732.72Meat and meat preparations01

–0.010.430.44Live animals other than animals of division 0300

SE L E C T E D S I T C D I V I S I O N S

Jun Qtr 2012 to

Sep Qtr 2012

Sep Qtr

2012

Jun Qtr

2012(b)

CHANGEIN POINTSCONTRIBUTION

CONTRIBUTIONTO ALLGROUPS INDEX

Catego r y

EXPORT PRICE INDEX (a) : SITC cont r i bu t i on to al l groups index co n t i n u e d8

16 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(a) Index reference period: 2011–12 = 100.0.

96.996.3100.392.2102.692.791.083.8105.497.0September97.299.0102.296.4102.497.596.694.9100.797.3June98.998.599.698.3101.294.095.692.698.198.0March

2012103.3101.599.598.798.9103.9104.5103.8100.6102.6December100.7101.098.7106.697.5104.6103.4108.8100.5102.1September

88.5100.897.3107.296.2106.394.0108.197.7103.1June85.4103.1100.3108.396.0118.384.599.6105.8100.4March

201185.3103.4100.2103.893.2110.579.492.3105.395.7December84.4107.8105.6104.194.394.891.6105.8107.693.6September83.5112.4106.6105.091.689.180.893.5110.192.6June75.1108.7105.499.389.878.469.368.3110.090.2March

201074.2112.3104.992.688.188.867.664.5110.084.8December70.3118.8109.393.989.486.768.965.5112.789.5September74.3121.9115.786.493.1102.988.173.1123.391.3June84.5131.6124.892.298.371.6134.393.3129.9101.3March

200974.4132.8124.0119.5100.356.9133.7103.4127.6112.8December61.7117.1105.8123.291.297.1106.490.5119.5100.0September59.3109.9100.8125.287.6100.374.784.7124.794.3June61.6113.2103.3122.483.2116.255.370.1128.387.3March

200854.2114.0103.3123.784.7107.554.169.9125.375.7December

2007

100.0100.0100.0100.0100.0100.0100.0100.0100.0100.02011–1285.9103.8100.9105.994.9107.587.4101.5104.198.22010–1175.8113.1106.697.789.785.871.773.0110.789.32009–1073.7125.9117.6105.395.782.1115.690.1125.1101.42008–09

Commodities

and

transactions,

n.e.s. (9)

Miscellaneous

manufactured

articles (8)

Machinery

and

transport

equipment

(7)

Manufactured

goods

classified

chiefly by

material (6)

Chemicals

and

related

products,

n.e.s. (5)

Animal and

vegetable

oils, fats

and

waxes (4)

Mineral

fuels,

lubricants

and related

materials (3)

Crude

materials,

inedible,

except

fuels (2)

Beverages

and

tobacco

(1)

Food

and live

animals

(0)Pe r i od

EXPORT PRICE INDEX (a) : SITC sect i ons9

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 17

(a) Index reference period: 2011–12 = 100.0.

94.584.495.4100.395.1September98.192.094.7100.197.2June98.096.094.5102.398.0March

2012102.199.7101.3101.0101.5December101.8112.2109.496.7103.2September

95.4109.3106.3105.1101.2June91.796.0102.5103.797.0March

201190.578.196.896.291.7December90.373.288.899.990.2September88.373.287.696.288.2June84.474.987.691.285.4March

201080.165.690.085.881.4December82.561.598.291.884.8September83.259.6110.588.586.2June90.760.3125.996.794.1March

200998.666.7141.0112.8105.1December90.570.7120.0105.296.9September87.773.9118.593.492.7June86.779.0108.580.287.7March

200880.174.985.571.277.6December

2007

100.0100.0100.0100.0100.02011–1292.089.298.6101.295.02010–1183.868.890.991.385.02009–1090.864.3124.4100.895.62008–09

Other

rural

Wool and

sheepskins

Cereal

grains and

cereal

preparations

Meat and

meat

preparations

Ruralgoods

total

BALANCE OF PAYMENTS CLASSIFICATION OF EXPORTS

Per i od

EXPORT PRICE INDEX (a) : Rura l goods10

18 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

(a) Index reference period: 2011–12 = 100.0.

97.595.495.799.8100.490.898.986.483.389.3September97.298.699.7102.0102.295.5104.692.094.696.6June99.295.697.6100.199.498.796.794.992.195.1March

2012103.3104.4100.8100.099.398.3100.0107.1104.2103.2December100.3101.4101.998.099.1107.598.7106.1109.1105.1September

87.3101.199.897.097.7109.588.797.0109.7101.7June84.4100.499.9100.2100.5111.385.784.5101.495.4March

201184.794.497.799.5100.8106.476.181.594.490.3December83.093.5100.3105.4105.8105.581.296.9109.7100.8September82.796.699.9107.5106.8106.678.082.695.992.1June74.796.796.5105.3106.2100.971.966.467.377.3March

201074.088.395.0105.4105.494.067.167.563.774.4December69.688.197.0111.5109.095.664.272.565.176.0September73.394.799.9119.7114.286.162.6110.273.985.8June82.5104.4107.9129.7122.989.983.8174.496.9111.9March

200971.2102.2112.1128.1122.5122.097.6165.8107.7118.0December58.788.2101.1104.1107.7130.196.3121.593.0101.1September57.185.497.1100.8101.7132.992.071.686.386.8June61.481.198.3104.4103.5128.978.246.469.573.8March

200853.078.299.0105.5103.0131.173.547.370.473.7December

2007

100.0100.0100.0100.0100.0100.0100.0100.0100.0100.02011–1284.997.499.4100.5101.2108.282.990.0103.897.12010–1175.392.497.1107.4106.999.370.372.373.080.02009–1071.497.4105.3120.4116.8107.085.1143.092.9104.22008–09

Non-

monetary

gold

Other

non-

rural

Other

manufactures

Transport

equipmentMachinery

Metals

(excl.

non-

monetary

gold)

Other

mineral

fuels

Coal,

coke and

briquettes

Metal

ores and

minerals

Non-ruralgoods

total(excl. non-monetary

gold)

BALANCE OF PAYMENTS CLASSIFICATION OF EXPORTS

Per i od

EXPORT PRICE INDEX (a) : Non- rura l goods11

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 19

8 The import price index and export price index are annually reweighted chained

Laspeyres indexes. This method of weighting was introduced for the September quarter

2000 and replaces the 'fixed–base' method of weighting in which the weighting patterns

are updated infrequently (generally once every 5 or 10 years).

9 The annual reweighting and chaining process involves a number of steps in order to

provide new weights each year. The current weighting basis for the import price index

was derived from the average value of import items during 2011–12. This differs slightly

from the export price index which has used the average value of export items during

2010–11 and 2011–12, due to the greater volatility associated with the value of export

items. These weights were revalued to reflect link period (June quarter 2012) price

levels. This means, for example, that the weights for the import price index are

effectively determined using quantities from 2011–12 and prices from the June quarter

2012. Indexes derived by using the new weights for the September quarter 2012 were

then linked to the already published June quarter 2012 (link period) levels which were

derived using the previous series weights. Using this methodology, long-term chain

I T E M S AN D WE I G H T S

5 Index numbers for selected sections of the Standard International Trade

Classification (SITC) are provided in table 3 (import price index) and table 9 (export

price index). The SITC (Revision 4) used from the September quarter 2008 onwards is

the United Nations' updated version, replacing SITC (Revision 3). SITC (Revision 4)

retains the overall structure of SITC (Revision 3) and consists of the same number of

sections, divisions and groups. Changes to the classification labels and components were

made at levels lower than those used in the import and export prices indexes. As a result,

there has been no material impact on the indexes, which remain comparable across the

changes in classification.

6 The import price index is also presented by Balance of Payments Broad Economic

Categories in tables 4–6, which have been disaggregated into balance of payments

groupings of consumption goods, capital goods and intermediate and other

merchandise goods. From the September quarter 2008 onwards, the previous heading of

Classification of Broad Economic Categories (BEC) End Use, has been replaced with

Balance of Payments Broad Economic Categories. This is simply a name change, with the

series remaining comparable to previously published series.

7 The export price index is also presented by balance of payments classification of

exports groupings in tables 10 and 11.

CL A S S I F I C A T I O N S

3 The import price index excludes the following items (representing less than 5% of

the value of merchandise imported during the weighting period) because of the inherent

difficulties in pricing the items to constant quality (see paragraph 15 below):

! live animals (not for food)

! jewellery and other articles of precious metal, n.e.s.

! military equipment

! commodities not classified according to kind

! works of art, collectors' pieces, antiques

! railway vehicles

! ships of various types.

4 The export price index includes re–exports of merchandise (i.e. goods which are

imported into Australia and exported at a later date without physical transformation).

SC O P E

1 This publication contains indexes measuring changes in the prices paid for imports

of merchandise that are landed in Australia each quarter and prices received for exports

of merchandise that are shipped from Australia each quarter. The import price indexes

are in tables 1–6 and the export price indexes are in tables 7–11.

2 The indexes are calculated on the index reference period 2011–12 = 100.0.

I N T R O D U C T I O N

20 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

E X P L A N A T O R Y N O T E S

11 In general, prices of individual shipments are obtained from major importers and

exporters of the selected items and relate to the quarter in which the imported goods

physically arrive in Australia and the exported goods physically leave Australia.

12 Imports are priced on a 'free on board' (f.o.b.), country of origin basis. Therefore

freight and insurance charges involved in shipping goods from foreign to Australian ports

are excluded from the prices used in the index, as are Australian import duties and taxes.

Similarly, exports are priced on a f.o.b. basis at the main Australian ports of export.

Exports are exempt from taxes on products.

13 As the prices used in the indexes are expressed in Australian currency, changes in

the relative value of the Australian dollar and overseas currencies can have a direct

impact on price movements for the many commodities that are bought and sold in

currencies other than Australian dollars. Prices reported in a foreign currency are

converted to Australian dollars using relevant exchange rates. Where imports or exports

are transacted in prices expressed in terms of a foreign currency and forward exchange

cover is used, the prices in the indexes exclude the forward exchange cover. As noted,

imports are priced on a country of origin basis. Therefore the exchange rates applied are

impacted by the differences between the date of transaction (ownership change) and the

shipping time from the country of origin to Australia.

14 The main pricing methodology used is specification pricing, under which a

manageable sample of precisely specified products is selected, in consultation with each

reporting business, for repeat pricing. In specifying the products, care is taken to ensure

that they are fully defined in terms of all the characteristics which influence their

transaction prices. As such, all the relevant technical characteristics need to be described

(e.g. make, model, features) along with the unit of sale, type of packaging, conditions of

sale (e.g. delivered, payment within 30 days), etc. The goods are also specified by

country and market in order to lessen the impact of price variations attributable solely to

changes over time in the mix of countries, or markets.

15 When the quality or specifications of an item being priced change over time,

adjustments are made to the reported prices so that the index captures only pure price

change. That is, any element of price change attributable to a change in quality is

removed. If there is an increase (decrease) in the quality of an item, then the price index

is adjusted downwards (upwards) to reflect the 'worth' of the quality change. This

technique is known as pricing to constant quality.

16 Wherever possible, prices from volume selling products being traded with

predominant countries, or markets, are obtained to ensure specifications have a good

chance of being re-priced over time and index series are representative of overall price

movements. Individual product weights and weights between markets and countries are

regularly reviewed to keep the indexes up to date. The ABS has access to a rich source of

international merchandise trade data and selectively uses average unit values in the

export price index to augment specification pricing. Imported commodities are typically

PR I C E ME A S U R E M E N T

linked series can be constructed over time on a consistent reference base for continuity

and user convenience, but using annually refreshed weights. From the September

quarter 2012, the index reference period for each index series is 2011–12 = 100.0 even

though the weights are being updated each year.

10 The commodities directly represented in each index (the index items) were

selected on the basis of the significance of their import and export values in the period

2011–12 for imports and 2010–11 and 2011–12 for exports. All significant commodities

were selected for pricing. The weights for minor commodities which are not directly

priced are included with those of comparable directly priced items where prices are

likely to move in a similar way.

I T E M S AN D WE I G H T S continued

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 21

E X P L A N A T O R Y N O T E S continued

19 Care should be exercised when interpreting quarter–to–quarter movements in the

indexes as short–term movements do not necessarily indicate changes in trend.

20 Movements in indexes from one period to another can be expressed either as

changes in 'index points' or as percentage changes. The following example illustrates the

method of calculating index points changes and percentage changes between any two

periods:

Export price index, All groups index number:

September quarter 2012 90.5 (see table 7)

less September quarter 2011 104.5 (see table 7)

Change in index points –14.0

Percentage change –14.0/104.5 x 100 = –13.4%

21 Tables 2 and 8 provide analyses of the contribution which SITC sections and

divisions make to the All groups import price index and export price index, respectively.

For example, exports of mineral fuels, lubricants and related materials contributed 25.68

index points to the All groups export price index number of 90.5 for the September

quarter 2012 and –1.58 index points to the net change of –6.18 index points between the

June 2012 and September 2012 quarters.

AN A L Y S I S OF IN D E X

CH A N G E S

18 Index numbers for financial years are simple averages of the relevant quarterly

index numbers.

I N D E X NU M B E R S

17 There are differences between the export price index (EPI) presented in this

publication, and the export implicit price deflator (IPD) presented in National Income,

Expenditure and Product (cat. no. 5206.0) and Balance of Payments and International

Investment Position (cat. no. 5302.0). The differences are mainly due to the index

methodology (fixed basket price index for the EPI, whereas the IPD is a quarterly

weighted index, which includes price change and compositional change from period to

period), the completeness of the dataset used and the source of the data. Further, the

EPI is calculated from predominantly sampled businesses, whereas the export IPD is

calculated from predominantly international merchandise trade data supplied by

Customs. These differences can result in significant divergences between the measures

when prices of commodities, which form a large proportion of exports, are volatile.

D I F F E R E N C E S BE T W E E N EP I

AN D EX P O R T I P D

more stable in price, but non-homogenous in character and generally do not lend

themselves to measurement by average unit value.

PR I C E ME A S U R E M E N T continued

22 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

E X P L A N A T O R Y N O T E S continued

23 Users may also wish to refer to the following related publications, which are

available from the ABS website:

Producer Price Indexes, Australia, (cat. no. 6427.0)

Consumer Price Index, Australia, (cat. no. 6401.0)

Wage Price Index, Australia, (cat. no. 6345.0)

Australian National Accounts, Input–Output Tables, (cat. no. 5209.0)

Balance of Payments and International Investment Position, Australia,

(cat. no. 5302.0)

24 Current publications and other products released by the ABS are listed on the ABS

website <http://www.abs.gov.au>. The ABS also issues a daily Release Advice on the

website which details products to be released in the week ahead.

RE L A T E D PU B L I C A T I O N S

22 For further information on price indexes in the ABS refer to the following

publications:

Information Paper: Producer and International Trade Price Indexes; Concepts,

Sources and Methods 2006, (cat. no. 6429.0)

Information Paper: Changes to Time Series Spreadsheets for Producer Price

Indexes, Australia, Feb 2006, (cat. no. 6427.0.55.001)

Information Paper: Update on ANZSIC 2006 Implementation for Producer

and International Trade Price Indexes, Australia, 2009, (cat. no. 6427.0.55.002)

Information Paper: Review of the Producer and International Trade Price

Indexes, 2011 (cat. no. 6427.0.55.003)

Information Paper: Outcome of the Review of the Producer and International

Trade Price Indexes, 2012 (cat. no. 6427.0.55.004)

Information Paper: Implementation of the Review of the Producer and

International Trade Price Indexes, 2012 (cat. no. 6427.0.55.005)

Information Paper: An Analytical Framework for Price Indexes in Australia,

(cat. no. 6421.0)

Information Paper: Producer Price Index Developments, (cat. no. 6422.0)

Information Paper: Review of the Import Price Index and Export Price Index,

Australia, (cat. no. 6424.0)

Information Paper: Price Indexes and The New Tax System, (cat. no. 6425.0)

FU R T H E R IN F O R M A T I O N

Standard International Trade ClassificationSITC

not elsewhere specifiedn.e.s.

not elsewhere classifiedn.e.c.

implicit price deflatorIPD

Harmonized Tariff Item Statistical ClassificationHTISC

free on boardf.o.b.

Classification by Broad Economic CategoriesBEC

Australian and New Zealand Standard Industrial ClassificationANZSIC

Australian Harmonised Export Commodity ClassificationAHECC

automatic data processingADP

Australian Bureau of StatisticsABSAB B R E V I A T I O N S

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 23

E X P L A N A T O R Y N O T E S continued

Both the Import Price Index and the Export Price Index have been reweighted in the

September quarter 2012. It is ABS practice to reweight these indexes annually each

September quarter, as explained in paragraphs 8–10 of the Explanatory Notes. The new

weighting patterns for both the Import Price Index and Export Price Index, based on the

Standard International Trade Classification (SITC) (Revision 4), are presented in this

Appendix.

All SITC sections and divisions are included in the reweighted index structure for

completeness. However, indexes for some of the lower weighted SITC divisions are not

constructed separately and so are not available for publication.

Corresponding new weighting patterns based on classification by Broad Economic

Categories (BEC), Harmonized Tariff Item Statistical Classification (HTSIC) and

Australian and New Zealand Standard Industrial Classification (ANZSIC) for the Import

Price Index and Australian Harmonised Export Commodity Classification (AHECC) and

ANZSIC for the Export Price Index can be made available on request.

CO M P O S I T I O N

24 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

A P P E N D I X 1 I N D E X S T R U C T U R E S A N D W E I G H T I N G P A T T E R N S

(b) Indexes for some lower weighted sections/divisions are notavailable for publication.

(a) Standard International Trade Classification, Revision 4.

0.898.22Chemical materials and products, n.e.s.590.625.70Plastics in non–primary forms580.746.89Plastics in primary forms570.767.01Fertilisers (other than those of group 272)560.837.66Essential oils and resinoids and perfume materials; toilet, polishing and cleansing preparations554.7744.20Medicinal and pharmaceutical products540.262.43Dyeing, tanning and colouring materials530.686.34Inorganic chemicals521.2511.55Organic chemicals51

10.80100.00Chemicals and related products, n.e.s.5

0.0312.82Fats and oils (processed), waxes and inedible mixtures or preparations, of animal or vegetable

origin, n.e.s.43

0.1978.53Fixed vegetable fats and oils, crude, refined or fractionated420.028.65Animal oils and fats41

0.24100.00Animal and vegetable oils, fats and waxes4

1.106.67Gas, natural and manufactured3415.3893.22Petroleum, petroleum products and related materials33

0.020.11Coal, coke and briquettes32

16.50100.00Mineral fuels, lubricants and related materials3

0.1714.65Crude animal and vegetable materials, n.e.s.290.3731.85Metalliferous ores and metal scrap280.1210.57

Crude fertilisers (excluding those of Division 56) and crude minerals (excluding coal, petroleumand precious stones)

270.043.75Textile fibres and their wastes (not manufactured into yarn or fabric)260.086.53Pulp and waste paper250.2824.44Cork and wood240.076.11Crude rubber (including synthetic and reclaimed)230.021.99Oil seeds and oleaginous fruits220.000.11Hides, skins and furskins, raw21

1.15100.00Crude materials, inedible, except fuels2

0.1112.87Tobacco and tobacco manufactures120.7287.13Beverages11

0.83100.00Beverages and tobacco1

0.7719.04Miscellaneous edible products and preparations090.235.75Feeding stuff for animals (excluding unmilled cereals)080.6215.32Coffee, tea, cocoa, spices, and manufactures thereof070.153.76Sugars, sugar preparations and honey060.8220.42Vegetables and fruit050.307.55Cereals and cereal preparations040.5814.41

Fish (not marine mammals), crustaceans, molluscs and aquatic invertebrates, and preparationsthereof

030.317.56Dairy products and birds' eggs020.256.19Meat and meat preparations01

4.03100.00Food and live animals0

Divisions

and

Sections

to All

Groups

2012

Divisions

to

Sections

2012

PERCENTAGECONTRIBUTION

SITC

IMPORT PRICE INDEX GROUPED BY SITC (REVIS ION 4) (a) (b )

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 25

A P P E N D I X 1 I N D E X S T R U C T U R E S A N D W E I G H T I N G P A T T E R N S continued

(b) Indexes for some lower weighted sections/divisions are notavailable for publication.

(a) Standard International Trade Classification, Revision 4.

2.91100.00Gold, non–monetary (excluding gold ores and concentrates)97

2.91100.00Commodities and transactions not classified elsewhere in the SITC9

3.6031.44Miscellaneous manufactured articles, n.e.s.890.605.21Photographic apparatus, equipment and supplies and optical goods, n.e.s.; watches and clocks882.1919.13Professional, scientific and controlling instruments and apparatus, n.e.s.870.574.98Footwear852.4020.98Articles of apparel and clothing accessories840.342.98Travel goods, handbags and similar containers831.1910.37

Furniture, parts thereof; bedding, mattresses, mattress supports, cushions and similar stuffedfurnishings

820.564.91Prefabricated buildings; sanitary, plumbing, heating and lighting fixtures and fittings, n.e.s.81

11.45100.00Miscellaneous manufactured articles8

2.105.13Other transport equipment7912.5430.65Road vehicles (including air–cushion vehicles)78

4.8711.90Electrical machinery, apparatus, appliances, n.e.s., and electrical parts thereof (including

non–electrical counterparts, n.e.s., of electrical household–type eqipment)77

5.1012.47Telecommunications and sound–recording and reproducing apparatus and equipment764.1210.08Office machines and automatic data–processing machines754.8611.88General industrial machinery and equipment, n.e.s. and machine parts, n.e.s.740.310.75Metal working machinery734.9512.11Machinery specialised for particular industries722.065.03Power–generating machinery and equipment71

40.91100.00Machinery and transport equipment7

2.6723.84Manufactures of metals, n.e.s.691.4412.88Non–ferrous metals681.8516.57Iron and steel671.019.05Non–metallic mineral manufactures, n.e.s.661.089.67Textile yarn, fabrics, made–up articles, n.e.s., and related products651.119.90Paper, paperboard, and articles of paper pulp, of paper or of paperboard640.332.95Cork and wood manufactures (excluding furniture)631.6414.70Rubber manufactures, n.e.s.620.050.44Leather, leather manufactures, and dressed furskins, n.e.s.61

11.18100.00Manufactured goods classified chiefly by material6

Divisions

and

Sections

to All

Groups

2012

Divisions

to

Sections

2012

PERCENTAGECONTRIBUTION

SITC

IMPORT PRICE INDEX GROUPED BY SITC (REVIS ION 4) (a) (b ) co n t i n u e d

26 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

A P P E N D I X 1 I N D E X S T R U C T U R E S A N D W E I G H T I N G P A T T E R N S continued

(b) Indexes for some lower weighted sections/divisions are notavailable for publication.

(a) Standard International Trade Classification, Revision 4.

0.3710.88Chemical materials and products n.e.s.590.133.83Plastics in non–primary forms580.174.93Plastics in primary forms570.154.47Fertilisers (other than those of group 272)560.247.14Essential oils and resinoids and perfume materials; toilet, polishing and cleaning preparations551.6649.20Medicinal and pharmaceutical products540.308.87Dyeing, tanning and colouring materials530.288.34Inorganic chemicals520.082.34Organic chemicals51

3.38100.00Chemicals and related products n.e.s.5

0.001.87Animal or vegetable fats and oils, processed; waxes of animal or vegetable origin; mixtures or

preparations of animal or vegetable fats or oils n.e.s.43

0.0731.92Fixed vegetable fats and oils, crude refined or fractioned420.1466.21Animal oils and fats41

0.21100.00Animal and vegetable oils, fats and waxes4

4.9517.56Gas, natural and manufactured345.3318.90Petroleum, petroleum products and related materials33

17.9163.54Coal, coke and briquettes32

28.19100.00Mineral fuels, lubricants and related materials3

0.100.28Crude animal and vegetable materials n.e.s.2932.6589.39Metalliferous ores and metal scrap 28

0.371.00 Crude fertilisers, other than those of division 56, and crude minerals (excluding coal,

petroleum and precious stones)27

2.035.54Textile fibres (other than wool top sand other combed wools) and their wastes (not

manufactured into yarn or fabric)26

0.090.26Pulp and waste paper250.431.18Cork and wood240.010.02Crude rubber (including synthetic and reclaimed)230.521.42Oil seeds and oleaginous fruits220.330.91Hides, skins and furskins, raw21

36.53100.00Crude materials, inedible, except fuels2

0.045.16Tobacco and tobacco manufactures120.8294.84Beverages11

0.86100.00Beverages and tobacco1

0.363.56Miscellaneous edible products and preparations090.424.20Feeding stuff for animals (not including unmilled cereals)080.111.09Coffee, tea, cocoa, spices and manufactures thereof070.707.03Sugars, sugar preparations and honey060.666.64Vegetables and fruit053.2432.44Cereals and cereal preparations040.373.75

Fish (not marine mammals) crustaceans, molluscs and aquatic invertebrates and preparationsthereof

030.858.53Dairy products and birds' eggs022.8228.19Meat and meat preparations010.464.57Live animals other than animals of division 0300

9.99100.00Food and live animals 0

Divisions

and

Sections

to All

Groups

2012

Division

to

Sections

2012

PERCENTAGECONTRIBUTION

SITC Code

EXPORT PRICE INDEX GROUPED BY SITC (REVIS ION 4) (a) (b )

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 27

A P P E N D I X 1 I N D E X S T R U C T U R E S A N D W E I G H T I N G P A T T E R N S continued

(b) Indexes for some lower weighted sections/divisions are notavailable for publication.

(a) Standard International Trade Classification, Revision 4.

5.7987.71Gold, non–monetary (excluding gold ores and concentrates)970.294.32Coin (other than gold coin), not being legal tender960.537.97Special transactions and commodities not classified according to kind93

6.61100.00Commodities and transactions not classified elsewhere in the SITC9

0.9446.40Miscellaneous manufactured articles n.e.s.890.104.97

Photographic apparatus, equipment and suppliers and optical goods n.e.s., watches andclocks

880.7638.02Professional, scientific and controlling instruments and apparatus n.e.s.870.021.04Footwear850.104.79Articles of apparel and clothing accessories840.010.62Travel goods, handbags and similar containers830.084.16Prefabricated buildings, building fittings and furniture81–82

2.01100.00Miscellaneous manufactured articles8

0.6512.64Other transport equipment791.0720.90Road vehicles (including air–cushion vehicles)781.0320.09Telecommunications equipment, sound–recording apparatus and electrical machinery, n.e.s.76–772.3646.37Power generating, general industrial and other specialise machinery and equipment71–75

5.11100.00Machinery and transport equipment7

0.385.30Manufactures of metals, n.e.s.694.8668.28Non–ferrous metals680.8712.29Iron and steel670.365.06Non–metallic mineral manufactures, n.e.s.660.111.55Textile yarn, fabrics, made–up articles, n.e.s. and related products650.314.39Paper, paperboard and articles of paper pulp, of paper or of paperboard640.050.69Cork and wood manufactures (excluding furniture)630.081.11Rubber manufactures, n.e.s.620.091.33Leather, leather manufactures, n.e.s., and dressed furskins61

7.11100.00Manufactured goods classified chiefly by material6

Divisions

and

Sections

to All

Groups

2012

Division

to

Sections

2012

PERCENTAGECONTRIBUTION

SITC Code

EXPORT PRICE INDEX GROUPED BY SITC (REVIS ION 4) (a) (b ) co n t i n u e d

28 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

A P P E N D I X 1 I N D E X S T R U C T U R E S A N D W E I G H T I N G P A T T E R N S continued

6 For example, for the Import Price Index; All Groups an arithmetic conversion factor is

obtained as follows:

! Rounded conversion factor (index reference period 1989–90 = 100.0) =

100.0/((117.1 + 120.0 + 118.6 + 121.4)/4) = 0.8384

! Index number for June quarter 2012 = 121.4 (index reference period 1989–90 =

100.0)

! Index number for the June quarter 2012 (index reference period 2011–12 = 100.0) is

121.4 x 0.8384 = 101.8

7 The factor may be used to convert any historical Import Price Index; All groups, index

numbers to the new index reference period. The formulae shown in the above example

may be followed in respect of any specific time series for which index numbers have

been published on the old index reference period.

(a) Index number for financial year 2011–12 (index reference period 1989–90 =100.0) = (117.1 + 120.0 + 118.6 + 121.4)/4 = 119.3

(b) Index number for financial year 2011–12 (index reference period 2011–12 =100.0) = (98.2 + 100.6 + 99.4 + 101.8)/4 = 100.0

(b)100.0(a)119.3Financial year 2011–12101.8121.4June quarter 2012

99.4118.6March quarter 2012100.6120.0December quarter 2011

98.2117.1September 20112011–12

98.2117.1June quarter 201197.4116.2March quarter 2011

2010–112011–12=100.0 (new)1989–90=100.0 (old)

INDEX REFERENCE PERIOD

Per i od

IMPORT PRICE INDEX, Al l groups , index numbers

4 The conversion of time series from the old index reference periods to the new involves

a rescaling of the index numbers. The conversion factors that should be applied to the

index numbers are calculated by obtaining the ratio of the index numbers on the old

(1989–90 = 100.0) to the new (2011–12 = 100.0) index reference period.

5 Conversion factors are calculated using the four quarterly index numbers for the

2011–12 financial year.

CONVERTING AN OLD TIME

SERIES TO THE NEW INDEX

REFERENCE PERIOD

1 From the September quarter 2012, the ABS harmonised the index reference periods

for the International Trade Price Indexes and the Producer Price Indexes. These series

are now presented on an index reference period of 2011–12 = 100.0.

2 The ABS has published conversion factors in 'Table 20 – ITPIs conversion factors, from

index reference period 1989–90 to 2011–12' available as a data cube on the 'Downloads'

tab of this product. This enables users to convert previously published time series to the

new index reference period or to convert index numbers on the new index reference

period to an old time series index reference period.

3 The following examples demonstrate the method used by the ABS to calculate the

conversion factors to convert from the old (1989–90 = 100.0) to the new (2011–12 =

100.0) index reference period (and vice versa).

RE–REFERENCING THE

INTERNATIONAL TRADE PRICE

INDEXES (ITPIs)

A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2 29

A P P E N D I X 2 RE – R E F E R E N C I N G TH E I N T E R N A T I O N A L TR A D E PR I C EI N D E X E S

10 Index numbers and percentage changes are always published to one decimal place,

with the percentage changes being calculated from the rounded index numbers. Index

numbers for periods longer than a single quarter (e.g. for financial years) are calculated

as the simple arithmetic average of the relevant rounded quarterly index numbers. The

conversion factors described above are applied to the rounded index numbers. A

consequence of re–referencing price indexes can be that period–to–period percentage

changes may differ slightly to those previously published due to rounding and the

re–referencing. These differences do not constitute a revision.

11 It should be noted that a different conversion factor will apply for each index series.

For example the conversion factor for the Import price Index Food and live animals will

differ from the factor for the Import Price Index Beverages and tobacco. Similarly, the

conversion factor for the Export price Index Food and live animals will differ from the

factor for the Export Price Index Beverages and tobacco. Conversion factors for

converting to the new index reference period are provided in 'Table 20 – ITPIs

conversion factors, from index reference period 1989–90 to 2011–12' available as a data

cube on the 'Downloads' tab of this product.

12 For further information, contact the National Information and Referral Service on

1300 135 070. The ABS provides further information on re–referencing in Producer and

International Trade Price Indexes: Concepts, Sources and Methods, 2006

(cat. no. 6429.0) and Frequently Asked Questions available at <http://www.abs.gov.au>.

ROUNDING

8 The conversion of the series from the new index reference period to the old involves a

rescaling of the index numbers. The rescaling factors are obtained by taking the inverse

of the previously described scaling factor.

For example, for the Import Price Index; All groups, the rescaling factor is obtained as

follows:

! Rounded conversion factor (index reference period 1989–90 = 100.0) = ((117.1 +

120.0 + 118.6 + 121.4)/4) /100.0 = 1.1928

! Index number for the June quarter 2012 (index reference period 2011–12 = 100.0) is

101.8

! Index number for the June quarter 2012 (index reference period 1989–90 = 100.0) is

101.8 x 1.1928 = 121.4

9 The factor may be used to convert any historical Import Price Index; All groups index

number on the new index reference period. The formulae shown in the above example

may be followed in respect of any specific time series for which index numbers have

been published on the new index reference period.

CONVERTING THE

RE–REFERENCED SERIES

BACK TO PREVIOUS INDEX

REFERENCE PERIOD

NOTE: The above example is calculated using the published index numbers that have

been rounded to one decimal. The ABS has calculated the conversion factors from

unrounded index numbers, to obtain a greater degree of precision. The preferred

conversion factors which use this greater degree of precision are available electronically,

as data cubes, on the 'downloads' tab of this product.

CONVERTING AN OLD TIME

SERIES TO THE NEW INDEX

REFERENCE PERIOD continued

30 A B S • I N T E R N A T I O N A L T R A D E P R I C E I N D E X E S • 6 4 5 7 . 0 • SE P QT R 2 0 1 2

A P P E N D I X 2 RE – R E F E R E N C I N G TH E I N T E R N A T I O N A L TR A D E PR I C EI N D E X E S continued

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Client Services, ABS, GPO Box 796, Sydney NSW 2001POST

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© Commonwealth of Australia 2012Produced by the Australian Bureau of Statistics

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ISSN 1445–2588