Monthly Statistical Bulletin
6.3 Terms of trade
Quarter	2003–04	2004–05	2005–06	2006–07	2007–08
Implicit price deflator for exports of goods and services (a) (b) – index
September	78.2	85.7	95.6	106.1	103.9
December	77.0	85.3	98.5	105.9	104.8
March	77.2	85.7	100.8	106.2	108.7
June	82.5	92.5	105.0	105.8
Annual average	79.0	87.3	100.0	105.9
Implicit price deflator for imports of goods and services (a) (b) – index
September	99.3	98.7	97.9	102.0	97.3
December	95.8	97.1	98.7	99.6	97.0
March	92.6	94.9	100.5	98.3	99.5
June	96.6	96.4	102.8	98.2
Annual average	96.3	96.8	100.0	99.3
Terms of trade (a) (b) (c) – index
September	78.8	86.8	97.7	104.0	106.8
December	80.4	87.8	99.8	106.3	108.0
March	83.4	90.3	100.3	108.0	109.2
June	85.4	95.9	102.2	107.8
Annual average	82.1	90.2	100.0	106.7
(a) Quarterly figures are seasonally adjusted.
(b) Base: 2005–06 = 100.0.
(c) Index of the ratio of the implicit price deflator for exports of goods and services
to the implicit price deflator for imports of goods and services
Source: ABS, Balance of payments and international investment position, Cat. no. 5302.0
								Update
								1 September 2008