Weights for the TWI
The new weights for the TWI have been compiled and are reported in the table below. The currency composition remains the same with the index containing 23 currencies. These weights will apply from the 1st of October 2005 and reflect Australia's two way merchandise trade in 2004/05.
| Trade Weight | ||
|---|---|---|
| Currency | Current | Previous |
| Japanese yen | 16.3596 | 16.0616 |
| European euro | 13.0819 | 13.5177 |
| Chinese renminbi | 12.7491 | 11.3042 |
| United States dollar | 11.9388 | 13.1603 |
| South Korean won | 5.7178 | 5.9748 |
| New Zealand dollar | 5.6381 | 5.8800 |
| United Kingdom pound sterling | 4.1785 | 4.7279 |
| Singapore dollar | 4.1299 | 3.6558 |
| Malaysian ringgit | 3.3057 | 3.0999 |
| New Taiwan dollar | 3.3041 | 3.1755 |
| Thai baht | 3.1509 | 2.7434 |
| Indian rupee | 2.8263 | 2.6227 |
| Indonesian rupiah | 2.6159 | 3.0208 |
| Hong Kong dollar | 1.5237 | 1.7666 |
| Vietnamese dong | 1.4794 | 1.1311 |
| Canadian dollar | 1.4786 | 1.6244 |
| Saudi Arabian riyal | 1.2539 | 1.2299 |
| South African rand | 1.1587 | 1.1964 |
| Papua New Guinea kina | 1.1396 | 0.9960 |
| Swedish krona | 0.8737 | 0.8788 |
| United Arab Emirates dirham | 0.8146 | 0.8614 |
| Swiss franc | 0.6723 | 0.6132 |
| Philippine peso | 0.6089 | 0.7576 |
The combined weight of the Asia-Pacific region is 65 per cent, an increase of 2½ percentage points from last year. The weight of North America fell by 1¼ percentage points to 13½ per cent, while the weight of Europe fell by 1 percentage point to 19 per cent. The new weights reflect the increasing importance of the Asia-Pacific region to Australian merchandise trade.
The Japanese yen continues to have the highest weight in the index, increasing by a third of a percentage point from last year. The Chinese renminbi increased by 1½ percentage points, marking the third consecutive year in which it has increased by over 1 percentage point. It is now ranked third behind the yen and the euro, overtaking the US dollar, whose weight declined by 1¼ percentage points.