Export and Import Price Indices -
3rd Quarter 2023
Highlights
Export Price Index (EPI)
1. EPI rose by 0.4% from 156.0 in the second quarter of 2023 to 156.7 in the third quarter, mainly due to increases in the prices of “Food and live animals" (+2.9%), partly offset by decreases in the prices of “Miscellaneous manufactured articles" (-1.3%).
2. Compared to price levels in the corresponding quarter of 2022, the index increased by 11.9% which was mainly due to increases in the prices of “Food and live animals" (+24.7%), “Miscellaneous manufactured articles" (+4.2%) and “Chemicals and related products, n.e.s" (+17.1%).
Import Price Index (IPI)
3. IPI increased by 4.9% from 164.1 in the second quarter of 2023 to 172.2 in the third quarter. That was mainly the effect of increases in the prices of “Mineral fuels, lubricants and related materials" (+12.0%), partly offset by lower prices of “Manufactured goods classified chiefly by material" (-2.6%).
4. Compared to the corresponding quarter of 2022, the index fell by 5.5%, mainly as a result of decreases in the prices of “Mineral fuels, lubricants and related materials" (-13.2%), “Manufactured goods classified chiefly by material" (-11.9%) and “Animal and vegetable oils, fats and waxes" (-36.7%), partly mitigated by increases in the prices of “Food and live animals" (+6.8%), “Machinery and transport equipment" (+4.6%) and “Chemicals and related products, n.e.s" (+8.8%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, decreased by 4.1 points (-4.3%) from 95.1 in the second quarter of 2023 to 91.0 in the third quarter. Compared to 76.8 in the corresponding quarter of 2022, the terms of trade increased by 14.2 points (+18.5%).
28 December 2023
