Export and Import Price Indices - 3rd Quarter 2019
Highlights
Export Price Index (EPI)
1. EPI rose by 3.6% from 99.1 in the second quarter of 2019 to 102.7 in the third quarter, mainly due to increases in the prices of "Miscellaneous manufactured articles" (+4.9%) and "Food and live animals” (+2.2%).
2. Compared to price levels in the corresponding quarter of 2018, the index increased by 4.2%. This is mainly due to an increase in the prices of “Miscellaneous manufactured articles” (+7.8%), partly offset by a decrease in the prices of “Food and live animals” (-0.2%).
Import Price Index (IPI)
3. IPI increased by 0.4% from 92.9 in the second quarter of 2019 to 93.3 in the third quarter. This is mainly attributable to price increases of “Food and live animals” (+1.6%), “Manufactured goods classified chiefly by material” (+1.6%) and “Machinery and transport equipment” (+1.7%), partly offset by a decrease in the prices of “Mineral fuels, lubricants and related materials” (-1.9%).
4. Compared to the corresponding quarter of 2018, the index fell by 2.1%, largely as a result of a decrease in the prices of “Mineral fuels, lubricants and related materials” (-11.4%), partly mitigated by an increase in the prices of “Food and live animals” (+4.8%).
Terms of Trade Index
5. The terms of trade index, i.e. the ratio of EPI to IPI, increased by 3.4 points (+3.2%) from 106.7 in the second quarter of 2019 to 110.1 in the third quarter. Compared to the corresponding quarter of 2018, the terms of trade increased by 6.6 points (+6.4%).
December 2019
