Export and Import Price Indices - 3rd Quarter 2024
Highlights
Export Price Index (EPI)
1. EPI rose by 0.5% from 164.2 in the second quarter of 2024 to 165.1 in the third quarter of 2024, mainly due to increases in the prices of “Miscellaneous manufactured articles" (+1.5%), partly offset by decreases in the prices of “Food and live animals" (-0.7%).
2. Compared to price levels in the corresponding quarter of 2023, the index increased by 5.4% mainly due to increases in the prices of “Miscellaneous manufactured articles" (+6.7%) and “Food and live animals" (+4.4%).
Import Price Index (IPI)
3. IPI decreased by 2.0% from 166.4 in the second quarter of 2024 to 163.1 in the third quarter of 2024. That was mainly the effect of decreases in the prices of “Mineral fuels, lubricants and related materials" (-6.7%), partly mitigated by increases in the prices of “Food and live animals" (+3.1%).
4. Compared to the corresponding quarter of 2023, the index fell by 5.3%, mainly as a result of decreases in the prices of “Mineral fuels, lubricants and related materials" (-13.2%) and “Food and live animals" (-3.0%), partly mitigated by increases in the prices of “Machinery and transport equipment" (+3.9%), “Manufactured goods classified chiefly by material" (+5.1%) and “Chemicals and related products, n.e.s" (+5.9%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, increased by 2.5 points (+2.5%) from 98.7 in the second quarter of 2024 to 101.2 in the third quarter of 2024. Compared to 91.0 in the corresponding quarter of 2023, the terms of trade index increased by 10.2 points (+11.2%).
27 December 2024
