9.26 Export and import price indexes measure price movements for Australian exports and imports. Selected international merchandise trade statistics are used to provide coverage checks for updating price samples with new commodities and contributors. The information is also used for annually reweighting both indexes each September quarter.
9.27 In addition, price samples are supplemented with unit prices for selected homogeneous commodities, calculated directly from quarterly trade data. Export and import price indexes are released quarterly, categorised by commodity and industry, in the ABS publication International Trade Price Indexes, Australia (Cat. no. 6457.0) and previously in two ABS publications: Export Price Index, Australia (Cat. no. 6405.0), and Import Price Index, Australia (Cat. no. 6414.0).
9.28 International price pressures can have an important effect on domestic prices, directly through exchange rates and imports, and indirectly through exports. There is considerable policy interest in import prices as a potential source of inflation and in the impact of export prices on national income. In disaggregated form, the export and import price indexes are used extensively in Australia's system of national accounts and balance of payments to deflate merchandise export and import values to derive volume estimates.
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