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Australia's international trade declined in the 4th quarter of 2009.
The Australian Bureau of Statistics reported Friday that the nation's Import Price Index decreased by 4.3 percent compared the preceding quarter.
The Bureau said the decline was due mainly to the appreciation of the Australian Dollar against most other major currencies. lower prices for telecommunications and sound recording equipment also added to the drop.
For the full year to the December 2009 quarter, the Import Price Index was down 15.5 percent, the biggest annual drop since record keeping began in 1981.
The Export Price Index for December decreased 1.7 percent vs. the quarter before. Again, appreciation of the aussie was cited as the primary reason. Prices also fell significantly for coal, coke and briquettes.
For the full year to the December 2009 quarter, the Export Price Index declined 32.7 percent, also the largest full-year decrease on record.
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