Terms of Trade by Country
Latest released Terms of Trade value for every supported currency, with the previous reading, the change between releases, reference date, frequency, unit, and source.
/api/v1/announcements/{currency}/terms_of_trade. Non-USD endpoints require an API key query parameter.| Country / Currency | Latest | Previous | Change | Reference | Frequency | Unit | Source |
|---|---|---|---|---|---|---|---|
|
Australia
AUD · Australian Dollar
|
95.8
31 Dec 2025
|
95.4
30 Sep 2025
|
▲ +0.4 | 31 Dec 2025 | Quarterly | Index | ABS/RBA |
What is Terms of Trade?
The terms of trade is the ratio of export prices to import prices. Improvements (export prices rising faster than import prices) raise national income and typically support the currency; deteriorations weigh on it.
Why it matters for FX
Terms of trade are one of the cleanest medium-horizon drivers of commodity-currency FX (AUD, NZD, CAD, NOK, BRL). Sustained ToT swings can drive multi-quarter trends in the relevant pair through the trade and income channel.
How to read this page
Watch year-over-year change. Compare with the home-currency TWI for the FX feed-through and with current_account_balance for the external-position implications.
What to watch for
- Year-over-year change vs TWI
- Decomposition: which prices are moving (energy, metals)
- Volume vs price effects
- Cross-check with current account
- Multi-quarter trend persistence