Export and Import Price Indices
3rd Quarter 2009
Highlights

Export Price Index
1. The Export Price Index for the 3rd quarter of 2009 stood at 97.7 representing a decrease of 1.0% over the previous quarter of 2009 and an increase of 0.8% over the corresponding quarter of 2008.
2. The 1.0% decrease over the previous quarter was mainly due to decreases in the prices of “Miscellaneous manufactured articles” (-1.0%), “Manufactured goods classified chiefly by material” (-5.6%) and “Chemicals and related products, n.e.s” (-6.2%) partly offset by an increase in the prices of “Food and live animals” (0.5%), which carries 34% of total weight.
3. The increase of 0.8% over the corresponding quarter of 2008 is mostly explained by price increases in “Miscellaneous manufactured articles” (5.7%), offset by price decreases in “Food and live animals” (-9.1%).

Import Price Index
1. The Import Price Index for the third quarter of 2009 worked out to 105.7, representing an increase of 1.2% over the previous quarter. Compared to the corresponding period of 2008, the index went down by 11.6%.
2. The 1.2% increase compared to the previous quarter was mainly due to the effect of increases in the prices of “Mineral fuels, lubricants and related materials”(18.6%), “Food and live animals” (1.9%), coupled with price decreases in “Manufactured goods classified chiefly by material” (-7.3%) and “Machinery and transport equipment” (-0.9%).
3. The decrease of 11.6% resulted from decreases in prices of “Mineral fuels, lubricants and related materials” (-41.6%), “Food and live animals” (-8.5%), “Manufactured goods, classified by material” (-6.8%) despite an increase in “Machinery and transport equipment” (10.5%).
Terms of trade
The terms of trade index (i.e. the ratio of Export Price Index to Import Price Index) decreased by 2 points from 94 during the second quarter of 2009 to 92 in the third quarter. Compared to the corresponding period of 2008, the index increased by 11 percentage points from 81 to 92.

December 2009