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Export and Import Price Indices - 4^th Quarter 2023

Highlights

Export Price Index (EPI)

1.      EPI fell by 1.3% from 156.7 in the third quarter of 2023 to 154.6 in the fourth quarter, mainly due to decreases in the prices of “Miscellaneous manufactured articles" (-2.5%).

2.      Compared to price levels in the corresponding quarter of 2022, the index increased by 8.7% which was mainly due to increases in the prices of “Food and live animals" (+20.2%), “Miscellaneous manufactured articles" (+1.4%) and “Chemicals and related products, n.e.s." (+9.8%).

Import Price Index (IPI)

3.      IPI decreased by 8.5% from 172.2 in the third quarter of 2023 to 157.5 in the fourth quarter. That was mainly the effect of decreases in the prices of “Mineral fuels, lubricants and related materials" (-14.5%) and “Food and live animals" (-5.4%). 

4.      Compared to the corresponding quarter of 2022, the index fell by 6.3%, mainly as a result of decreases in the prices of “Mineral fuels, lubricants and related materials" (-13.7%), “Manufactured goods classified chiefly by material" (-11.9%) and “Animal and vegetable oils, fats and waxes" (-29.0%), partly mitigated by increases in the prices of “Chemicals and related products, n.e.s" (+10.1%), “Machinery and transport equipment" (+3.9%) and “Food and live animals" (+2.2%). 

 

Terms of Trade Index

5.      The terms of trade index, i.e., the ratio of EPI to IPI, increased by 7.2 points (+7.9%) from 91.0 in the third quarter of 2023 to 98.2 in the fourth quarter. Compared to 84.6 in the corresponding quarter of 2022, the terms of trade increased by 13.6 points (+16.1%).
 

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