Export and Import Price Indices -
2nd Quarter 2024
Highlights
Export Price Index (EPI)
1. EPI rose by 2.9% from 159.6 in the first quarter of 2024 to 164.2 in the second quarter of 2024, mainly due to increases in the prices of “Miscellaneous manufactured articles" (+4.6%) and “Food and live animals" (+1.4%).
2. Compared to price levels in the corresponding quarter of 2023, the index increased by 5.3% which was mainly due to increases in the prices of “Food and live animals" (+8.1%) and “Miscellaneous manufactured articles" (+3.8%).
Import Price Index (IPI)
3. IPI increased by 2.7% from 162.2 in the first quarter of 2024 to 166.5 in the second quarter of 2024. That was mainly the effect of increases in the prices of “Mineral fuels, lubricants and related materials" (+6.0%) and “Machinery and transport equipment" (+2.6%), partly offset by decreases in the prices of “Food and live animals" (-2.5%).
4. Compared to the corresponding quarter of 2023, the index rose by 1.5%, mainly as a result of increases in the prices of “Mineral fuels, lubricants and related materials" (+4.2%), “Machinery and transport equipment" (+3.1%) and “Chemicals and related products, n.e.s" (+5.5%), partly offset by decreases in the prices of “Food and live animals" (-5.8%).
Terms of Trade Index
5. The terms of trade index, i.e., the ratio of EPI to IPI, increased by 0.2 point (+0.2%) from 98.4 in the first quarter of 2024 to 98.6 in the second quarter of 2024. Compared to 95.1 in the corresponding quarter of 2023, the terms of trade increased by 3.5 points (+3.7%).
24 September 2024
