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International merchandise trade - Export data commodity prices adjustment
INTERNATIONAL MERCHANDISE TRADE - EXPORT DATA COMMODITY PRICES ADJUSTMENT
International merchandise trade exports data are based on information provided by exporters to the Australian Customs and Border Protection Service (Customs and Border Protection). At the time of initial reporting to Customs and Border Protection the final prices for some commodities may not be known. New contract prices that have been recently negotiated, or are still being negotiated for commodities like iron ore and coal may not be fully reflected in the Customs and Border Protection source data. Final prices are updated progressively in recorded trade data as exporters revise the information provided to Customs and Border Protection.
It is not yet known how the recent move from annual to quarterly contracts for some exporters will impact on the reporting of information. For more information please refer to International Trade in Goods and Services, Australia, Jun 2010 (cat. no. 5368.0).
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