Export and Import Price Indices - 2nd Quarter 2023
Highlights
Export Price Index (EPI)
1. EPI rose by 2.0% from 153.0 in the first quarter of 2023 to 156.0 in the second quarter, mainly due to increases in the prices of “Food and live animals" (+4.3%) and “Miscellaneous manufactured articles" (+0.4%).
2. Compared to price levels in the corresponding quarter of 2022, the index increased by 15.0% which was mainly due to increases in the prices of “Food and live animals" (+29.5%), “Miscellaneous manufactured articles" (+6.9%) and “Chemicals and related products, n.e.s" (+16.0%).
Import Price Index (IPI)
3. IPI decreased by 4.3% from 170.1 in the first quarter of 2023 to 162.8 in the second quarter. That was mainly the effect of decreases in the prices of “Mineral fuels, lubricants and related materials" (-9.8%) and “Manufactured goods classified chiefly by material" (-5.0%), partly mitigated by higher prices of “Food and live animals" (+2.6%).
4. Compared to the corresponding quarter of 2022, the index fell by 12.8%, mainly as a result of decreases in the prices of “Mineral fuels, lubricants and related materials" (-27.8%) and “Manufactured goods classified chiefly by material" (-13.0%), partly mitigated by increases in the prices of “Food and live animals" (+8.2%) and “Machinery and transport equipment" (+6.4%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, increased by 5.9 points (+6.6%) from 89.9 in the first quarter of 2023 to 95.8 in the second quarter. Compared to 72.7 in the corresponding quarter of 2022, the terms of trade increased by 23.1 points (+31.8%).
26 September 2023
