Export and Import Price Indices - 1st Quarter 2024
Highlights
Export Price Index (EPI)
1. EPI rose by 3.2% from 154.6 in the fourth quarter of 2023 to 159.6 in the first quarter of 2024, mainly due to increases in the prices of “Food and live animals" (+3.4%) and “Miscellaneous manufactured articles" (+3.1%).
2. Compared to price levels in the corresponding quarter of 2023, the index increased by 4.3% which was mainly due to increases in the prices of “Food and live animals" (+11.1%).
Import Price Index (IPI)
3. IPI increased by 3.4% from 156.9 in the fourth quarter of 2023 to 162.2 in the first quarter of 2024. That was mainly the effect of increases in the prices of “Mineral fuels, lubricants and related materials" (+3.6%), “Food and live animals" (+2.3%), “Manufactured goods classified chiefly by material" (+5.3%) and “Machinery and transport equipment" (+2.4%).
4. Compared to the corresponding quarter of 2023, the index fell by 4.6%, mainly as a result of decreases in the prices of “Mineral fuels, lubricants and related materials" (-9.7%), “Manufactured goods classified chiefly by material" (-5.4%) and “Animal and vegetable oils, fats and waxes" (-24.9%), partly mitigated by increases in the prices of “Chemicals and related products, n.e.s" (+6.1%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, decreased by 0.1 point (-0.1%) from 98.5 in the fourth quarter of 2023 to 98.4 in the first quarter of 2024. Compared to 89.9 in the corresponding quarter of 2023, the terms of trade increased by 8.5 points (+9.5%).
25 June 2024
