Export and Import Price Indices - 4th Quarter 2021Highlights
Export Price Index (EPI)
1. EPI rose by 1.2% from 131.4 in the third quarter of 2021 to 133.0 in the fourth quarter, mainly due to increases in the prices of “Miscellaneous manufactured articles" (+2.0%) and “Food and live animals" (+0.5%).
2. Compared to price levels in the corresponding quarter of 2020, the index increased by 6.9% which was mainly due to increases in the prices of “Miscellaneous manufactured articles" (+7.4%) and “Food and live animals" (+6.9%), partly offset by decreases in the prices of “Chemicals and related products, n.e.s" (-2.7%).
Import Price Index (IPI)
3. IPI increased by 3.6% from 126.4 in the third quarter of 2021 to 131.0 in the fourth quarter. That was mainly the effect of increases in the prices of “Mineral fuels, lubricants and related materials" (+10.8%) and “Manufactured goods classified chiefly by material" (+4.0%), partly offset by decreases in the prices of “Food and live animals" (-2.5%).
4. Compared to the corresponding quarter of 2020, the index rose by 31.3%, mainly as a result of increases in the prices of “Mineral fuels, lubricants and related materials" (+65.2%), “Food and live animals" (+20.1%) and “Manufactured goods classified chiefly by material" (+26.7%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, decreased by 2.5 points (-2.4%) from 104.0 in the third quarter of 2021 to 101.5 in the fourth quarter. Compared to 124.6 in the corresponding quarter of 2020, the terms of trade decreased by 23.1 points (-18.5%).
25 March 2022
