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Export and Import Price Indices - 4th Quarter 2019
Export Price Index (EPI)
EPI rose by 3.9% from 102.7 in the third quarter of 2019 to 106.7 in the fourth quarter, mainly due to increases in the prices of "Miscellaneous manufactured articles" (+6.0%) and "Food and live animals” (+1.1%).
Compared to the corresponding quarter of 2018, the index increased by 10.6%. This is mainly due to increases in the prices of “Miscellaneous manufactured articles” (+16.0%) and “Food and live animals” (+4.3%).
Import Price Index (IPI)
IPI decreased by 2.4% from 93.3 in the third quarter of 2019 to 91.1 in the fourth quarter. This is mainly attributable to price decreases of “Mineral fuels, lubricants and related materials” (-4.6%) and “Food and live animals” (-3.7%).
Compared to the corresponding quarter of 2018, the index fell by 1.0%, largely as a result of a decrease in the prices of “Mineral fuels, lubricants and related materials” (-7.3%), partly mitigated by increases in the prices of “Manufactured goods classified chiefly by material” (+4.0%), “Machinery and transport equipment” (+3.9%) and “Food and live animals” (+1.0%).
Terms of Trade Index
The terms of trade index, i.e. the ratio of EPI to IPI, increased by 7.0 points (+6.4%) from 110.1 in the third quarter of 2019 to 117.1 in the fourth quarter. Compared to the corresponding quarter of 2018, the terms of trade increased by 12.2 points (+11.6%).