Australia's terms of trade were clonked again in the first quarter of 2016 it seems.
The ABS International Trade Price Indexes figures for the March quarter showed that export prices fell by -4.7 per cent in the first quarter to be down by -13.8 per cent over the year and to sit at a 10 year low.
This quarterly fall was driven by falls in the prices received for metalliferous ores & metal scrap (-5.3 per cent), coal, coke & briquettes (-8.1 per cent), natural & manufactured gas (-11.6 per cent), and petroleum and its related materials and products (-15.8 per cent).
On the flip side, import prices were also down by 3 per cent, with petroleum a key driver here too.
Overall, though, it looks like another clonk to the terms of trade when the National Accounts are released in due course.