Export and Import Price Indices -1st Quarter 2021
Highlights
Export Price Index (EPI)
1. EPI fell by 0.9% from 124.4 in the fourth quarter of 2020 to 123.3 in the first quarter of 2021, mainly due to decreases in the prices of “Miscellaneous manufactured articles” (-1.0%), “Food and live animals” (-0.5%) and “Chemicals and related products, n.e.s” (-5.9%), partly mitigated by an increase in the prices of “Manufactured goods classified chiefly by material” (+1.2%).
2. Compared to price levels in the corresponding quarter of 2020, the index increased by 12.1%. That was mainly due to increases in the prices of “Miscellaneous manufactured articles” (+11.9%) and “Food and live animals” (+12.6%).
Import Price Index (IPI)
3. IPI increased by 6.6% from 99.8 in the fourth quarter of 2020 to 106.4 in the first quarter of 2021. That was mainly the effect of increases in the prices of “Mineral fuels, lubricants and related materials” (+15.0%), “Food and live animals” (+6.1%) and “Manufactured goods classified chiefly by material” (+6.3%), partly offset by a decrease in the prices of “Miscellaneous manufactured articles” (-15.0%).
4. Compared to the corresponding quarter of 2020, the index rose by 7.0%, mainly as a result of increases in the prices of “Food and live animals” (+18.8%), “Manufactured goods classified chiefly by material” (+13.1%), “Machinery and transport equipment” (+10.9%), “Chemical materials & related products, n.e.s.” (+13.9%) and “Miscellaneous manufactured articles” (+17.7%), partly offset by a decrease in the prices of “Mineral fuels, lubricants and related materials” (-6.0%).
Terms of Trade Index
5. The terms of trade index, i.e. the ratio of EPI to IPI, decreased by 8.7 points (-7.0%) from 124.6 in the fourth quarter of 2020 to 115.9 in the first quarter of 2021. Compared to 110.7 in the corresponding quarter of 2020, the terms of trade increased by 5.2 points (+4.7%).
25 June 2021
