Export and Import Price Indices - 1st Quarter 2020
Highlights
Export Price Index (EPI)
1. EPI rose by 1.9% from 106.7 in the fourth quarter of 2019 to 108.7 in the first quarter of 2020, mainly due to increases in the prices of "Miscellaneous manufactured articles" (+1.7%) and "Food and live animals” (+2.5%).
2. Compared to price levels in the corresponding quarter of 2019, the index increased by 12.3%. This is mainly due to increases in the prices of “Miscellaneous manufactured articles” (+17.7%) and “Food and live animals” (+6.5%).
Import Price Index (IPI)
3. IPI increased by 9.1% from 91.1 in the fourth quarter of 2019 to 99.4 in the first quarter of 2020. This is mainly attributable to price increases of “Mineral fuels, lubricants and related materials” (+25.1%) and “Miscellaneous manufactured articles” (+15.4%), partly offset by a decrease in the prices of “Food and live animals” (-2.2%).
4. Compared to the corresponding quarter of 2019, the index rose by 11.7%, mainly as a result of increases in the prices of “Mineral fuels, lubricants and related materials” (+28.7%), “Manufactured goods classified chiefly by material” (+7.8%), “Miscellaneous manufactured articles” (+19.1%) and “Machinery and transport equipment” (+5.5%), partly offset by a decrease in the prices of “Food and live animals” (-1.9%).
Terms of Trade Index
5. The terms of trade index, i.e. the ratio of EPI to IPI, decreased by 7.7 points (-6.6%) from 117.1 in the fourth quarter of 2019 to 109.4 in the first quarter of 2020. Compared to the corresponding quarter of 2019, the terms of trade increased by 0.6 point (+0.6%).
