Export and Import Price Indices for Q1 2019

The EPI, Export Price Index, rose by 0.3% from 96.5 in the fourth quarter of 2018 to 96.8 in the first quarter of 2019, mainly due to increases in the prices of “Food and live animals” (+0.4%) and “Miscellaneous manufactured articles” (+0.3%), partly offset by a decrease in the prices of “Manufactured goods classified chiefly by material” (-1.5%).

Compared to price levels in the corresponding quarter of 2018, the index decreased by 0.2%. That was mainly due to a decrease in the prices of “Food and live animals” (-5.1%), partly mitigated by an increase in the prices of “Miscellaneous manufactured articles” (+3.7%).

The IPI, Import Price Index. decreased by 3.3% from 92.0 in the fourth quarter of 2018 to 89.0 in the first quarter of 2019. That was mainly the effect of decreases in the prices of “Mineral fuels, lubricants and related materials” (-9.8%) and “Crude materials, inedible, except fuels” (-7.9%), partly mitigated by increases in the prices of “Miscellaneous manufactured articles” (+3.0%), “Machinery and transport equipment” (+1.5%) and “Food and live animals” (+0.8%).

Compared to the corresponding quarter of 2018, the index rose by 2.1%, mainly as a result of increases in the prices of “Food and live animals” (+5.5%) and “Manufactured goods classified chiefly by material” (+4.8%), partly offset by decreases in the prices of “Animal and vegetable oils, fats and waxes” (-6.6%), “Beverages and Tobacco” (-1.5%) and “Chemical materials & related products, n.e.s” (-1.4%).

Terms of Trade Index
The terms of trade index, i.e. the ratio of Export Price Index to Import Price Index, increased by 3.8 points (+3.6%) from 105.0 in the fourth quarter of 2018 to 108.8 in the first quarter of 2019. Compared to the corresponding quarter of 2018, the terms of trade decreased by 2.4 points (-2.2%).