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.

Weights in the Trade-Weighted Index
Per cent
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.