U.S. IMPORT AND EXPORT PRICE INDEXES – DECEMBER 2023

U.S. import prices were unchanged in December, after declining 0.5 percent in November, the U.S. Bureau 

of Labor Statistics reported today. Import fuel prices decreased 0.3 percent in December and nonfuel prices 

were unchanged. Prices for U.S. exports fell 0.9 percent in December following a 0.9-percent decline the 

previous month. 

Chart 1. One-month and 12-month percent changes in the Import Price Index: December 2022 – December 2023

Imports 

The price index for U.S. imports was unchanged in December, after declining in each of the previous 2 

months. Prices for U.S. imports fell 1.6 percent for the year ended in December. U.S. import prices have not 

risen on a 12-month basis since January 2023. (See table 1.)

Fuel Imports: Prices for import fuel declined 0.3 percent in December following decreases of 6.4 percent in 

November and 3.9 percent in October. Lower petroleum prices in December more than offset higher natural 

gas prices. Import fuel prices fell 9.4 percent from December 2022 to December 2023. The price index for 

import petroleum decreased 0.3 percent in December, after declining 7.7 percent in November and 4.1 

percent in October. Import petroleum prices fell 4.0 percent over the past 12 months. In contrast, prices for 

import natural gas rose 0.3 percent in December following a 35.7-percent increase in November. Despite the 

recent increases, natural gas prices fell 61.9 percent over the past year, the largest 12-month drop since the 

index decreased 70.7 percent for the year ended June 2023. 

 

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Dec'22 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec'23

1-month percent change 12-month percent change

Transmission of material in this release is embargoed until

8:30 a.m. (ET) Wednesday, January 17, 2024 

Technical information: (202) 691-7101 • MXPinfo@bls.gov • www.bls.gov/mxp

Media contact: (202) 691-5902 • PressOffice@bls.gov

USDL-24-0066
2

All Imports Excluding Fuel: Nonfuel import prices were unchanged in December, after ticking up 0.1 

percent in November and declining 0.1 percent in October. Higher prices in December for nonfuel industrial 

supplies and materials and automotive vehicles were offset by lower prices for capital goods and foods, 

feeds, and beverages. The price index for nonfuel imports declined 0.8 percent for the year ended in 

December. 

Foods, Feeds, and Beverages: Prices for import foods, feeds, and beverages edged down 0.1 percent in 

December following a 1.0-percent advance the previous month. The December drop was driven by a 2.4-

percent decrease in fish and shellfish prices. 

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices rose 0.4 percent

in December, after increasing 0.2 percent in November. The December advance was the largest monthly rise 

since the index increased 1.2 percent in December 2022 and was led by higher metals prices. 

Finished Goods: Prices for the major finished goods import categories were mixed in December. Capital 

goods prices edged down 0.1 percent for the third consecutive month in December. Lower prices for 

semiconductors and computer accessories, peripherals, and parts led the December drop in capital goods 

prices. In contrast, prices for import automotive vehicles ticked up 0.1 percent in December, after declining 

0.1 percent the previous month. The advance was driven by higher prices for automotive tires and tubes. 

Import consumer goods prices were unchanged in December for the fifth consecutive month. 

Table A. Percent change in Import and Export Price Indexes, selected categories
3

Chart 2. One-month and 12-month percent changes in the Export Price Index: December 2022 – December 2023

Exports 

The price index for U.S. exports decreased 0.9 percent for the third consecutive month in December. Those 

were the first 1-month declines since June 2023. Lower prices for both agricultural and nonagricultural 

exports contributed to the December drop. U.S. export prices fell 3.2 percent over the past year. Despite the 

recent declines, the December decrease was the smallest 12-month drop since February 2023. (See table 2.) 

Agricultural Exports: Export agricultural prices declined 0.6 percent in December following a 0.1-percent 

advance in November. Lower prices in December for soybeans and other oilseeds, corn, meat, and nuts 

more than offset higher fruit prices. Prices for agricultural exports decreased 8.9 percent for the year ended 

in December. The 12-month drop was largely driven by lower prices for corn, soybeans, wheat, and 

vegetables over the past year. 

All Exports Excluding Agriculture: Prices for nonagricultural exports declined 0.9 percent in December 

following decreases of 1.0 percent in November and 0.9 percent in October. Lower prices in December for 

nonagricultural industrial supplies and materials and nonagricultural foods more than offset higher prices for 

consumer goods and automotive vehicles. The price index for nonagricultural exports fell 2.4 percent from 

December 2022 to December 2023. 

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices 

declined 2.3 percent for the second consecutive month in December. The December and November drops 

were driven by lower fuel prices. The 2.3-percent declines were the largest 1-month drops since a 5.0-

percent decrease in May. 

Finished Goods: Prices for the major finished goods export categories were mostly up in December. 

Consumer goods prices rose 0.3 percent following a 0.2-percent drop in November. Higher prices for coins, 

gems, jewelry, and collectables in December led the advance in consumer goods prices. The price index for 

automotive vehicles advanced 0.2 percent in December, after a 0.1-percent decline the previous month. The 

increase was driven by a 0.6-percent rise in passenger car prices. Prices for export capital goods were 

unchanged in December following a 0.1-percent decrease in November. 

More information for the major import and export price indexes can be found at 

www.bls.gov/web/ximpim/largest.htm. 

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2.0

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8.0

Dec'22 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec'23

1-month percent change 12-month percent change
4

Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Import prices from China edged down 0.1 percent in December, after 

declining 0.2 percent the previous month. Prices for imports from China last increased on a monthly basis in 

October 2022. Prices for imports from China decreased 3.0 percent for the year ended in December. The 

price index for imports from Japan also fell 0.1 percent in December following 0.1-percent increases in each 

of the previous 3 months. The December drop was the first monthly decrease for import prices from Japan 

since May 2023. Prices for imports from Japan advanced 0.4 percent over the past year. The price index for 

imports from Canada fell 1.3 percent in December, after declining 2.8 percent in November and 1.3 percent 

in October. The price index for imports from Canada decreased 6.0 percent from December 2022 to 

December 2023. In contrast, prices for imports from the European Union and Mexico advanced in 

December, rising 0.3 percent and 0.1 percent, respectively. (See table 7.) 

Exports by Locality of Destination: Prices for exports to China decreased 0.7 percent in December 

following a 1.0-percent drop the previous month. The price index for exports to China declined 3.1 percent 

for the year ended in December. Export prices to Japan fell 1.7 percent in December, after decreasing 1.8 

percent in November. Prices for exports to Japan declined 9.5 percent over the past 12 months. The price 

index for exports to Canada was unchanged in December following a 0.5-percent drop in November. Export 

prices to Canada fell 1.0 percent over the past year. Prices for exports to the European Union decreased 0.3 

percent in December and the price index for exports to Mexico declined 1.5 percent over the same period. 

(See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on country, region, or grouping and measure 

the change in the purchasing power of exports relative to imports. U.S. terms of trade with China fell 0.6 

percent in December, after declining 0.8 percent in November and 0.4 percent in October. Lower export 

prices to China in December more than offset lower import prices from China. The index for U.S. terms of 

trade with China declined 0.2 percent over the past 12 months. U.S. terms of trade with Japan fell 1.7 

percent in December following a 1.9-percent decrease the previous month. The index for U.S. terms of trade 

with Japan declined 9.9 percent from December 2022 to December 2023. In contrast, U.S. terms of trade 

with Canada rose 1.3 percent in December, after advancing 2.4 percent in November. The indexes for U.S. 

terms of trade with the European Union and Mexico fell 0.6 percent and 1.5 percent, respectively, in 

December. (See table 9.)

Import and Export Services

Imports: Import air passenger fares rose 6.9 percent in December, after declining 0.4 percent in November. 

Higher Latin American/Caribbean, European, and Asian fares all contributed to the December advance. 

Despite the increase, import air passenger fares declined 4.2 percent over the past year. Import air freight 

prices rose 13.3 percent in December following a 4.5-percent advance in November. The December increase 

was the largest 1-month advance since the index rose 13.9 percent in November 2021. In spite of the 

December increase, import air freight prices fell 4.6 percent over the past 12 months. (See table 10.)

Exports: The index for export air passenger fares decreased 3.4 percent in December, after increasing 1.3 

percent the previous month. Lower Latin American/Caribbean, European, and Asian fares all contributed to 

the December drop. Export air passenger fares declined 5.3 percent for the year ended in December. Export 

air freight prices rose 0.4 percent in December following a 0.5-percent decline in November. Higher prices 

for export air freight to Asia and Europe contributed to the advance. Prices for export air freight decreased 

12.9 percent from December 2022 to December 2023. 

 

U.S. Import and Export Price Index data for January 2024 are scheduled for release on Thursday, 

February 15, 2024, at 8:30 a.m. (ET). 
Table 1. U.S. import price indexes and percent changes for selected categories of goods: December 2022 to

December 2023

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

All commodities................................... 100.000 139.5 139.5 -1.6 0.5 -0.6 -0.5 0.0

All imports excluding food and fuels (Dec.

2010=100)........................................ 83.462 107.4 107.5 -1.0 -0.2 -0.1 0.0 0.1

All imports excluding petroleum.............. 91.322 123.2 123.2 -1.5 -0.2 -0.2 0.2 0.0

All imports excluding fuels (Dec.

2001=100)........................................ 90.713 126.9 126.9 -0.8 -0.2 -0.1 0.1 0.0

Foods, feeds, & beverages................... 0 7.250 215.0 214.7 2.7 -0.3 -0.5 1.0 -0.1

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 5.895 241.9 242.4 5.3 0.0 -0.2 1.7 0.2

Nonagricultural foods (fish, distilled

beverages).................................. 01 1.355 150.1 147.6 -7.6 -1.3 -1.7 -2.1 -1.7

Industrial supplies & materials.............. 1 24.477 241.3 241.6 -7.4 2.0 -2.0 -2.4 0.1

Industrial supplies & materials excluding

petroleum.................................... 15.923 197.8 198.6 -9.6 -0.9 -0.7 0.9 0.4

Industrial supplies & materials excluding

fuels (Dec. 2001=100)..................... 15.203 220.0 220.9 -6.1 -0.8 -0.7 0.2 0.4

Industrial supplies & materials, durable. . .. 9.565 213.6 214.5 -5.3 -0.8 -1.2 0.4 0.4

Industrial supplies & materials nondurable

excluding petroleum....................... 6.234 179.9 180.5 -15.5 -1.1 0.1 1.7 0.3

Fuels & lubricants............................. 10 9.287 287.4 286.5 -9.4 6.4 -3.9 -6.4 -0.3

Petroleum & petroleum products......... 100 8.678 306.6 305.6 -4.0 7.0 -4.1 -7.7 -0.3

Crude petroleum........................... 10000 5.566 319.4 306.4 2.5 8.4 -2.0 -9.6 -4.1

Fuels, n.e.s.-coals & gas.................. 101 0.474 195.4 195.6 -56.3 -5.5 -1.8 24.9 0.1

Natural gas.................................. 10110 0.371 177.8 178.4 -61.9 -6.7 -2.7 35.7 0.3

Paper & paper base stocks.................. 11 0.530 140.6 139.6 -7.0 -2.8 1.9 1.3 -0.7

Materials associated with nondurable

supplies & materials....................... 12 5.094 192.5 193.3 -7.6 -0.5 0.1 -0.2 0.4

Selected building materials.................. 13 1.700 184.7 185.2 -4.1 -0.7 -1.0 -1.7 0.3

Unfinished metals related to durable

goods........................................ 14 3.796 311.1 313.3 -8.9 -1.2 -1.0 1.2 0.7

Finished metals related to durable

goods........................................ 15 2.321 214.7 217.8 0.6 -0.5 -1.7 1.1 1.4

Nonmetals related to durable goods. . . . . .. 16 1.748 121.9 120.3 -5.4 -0.4 -1.3 -0.2 -1.3

Capital goods................................... 2 27.819 93.2 93.1 -0.2 0.0 -0.1 -0.1 -0.1

Electric generating equipment............... 20 3.759 129.5 129.7 0.4 -0.1 -0.2 0.0 0.2

Nonelectrical machinery...................... 21 22.652 84.1 84.0 -0.6 0.0 -0.1 -0.1 -0.1

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 1.407 152.8 152.8 3.4 -0.2 0.0 -0.1 0.0

Automotive vehicles, parts & engines..... 3 13.000 119.0 119.1 1.6 0.1 0.3 -0.1 0.1

Consumer goods, excluding

automotives.................................. 4 27.454 109.8 109.8 -0.1 0.0 0.0 0.0 0.0

Nondurables, manufactured................. 40 12.867 125.3 125.3 0.7 -0.1 0.0 0.2 0.0

Durables, manufactured...................... 41 13.625 95.1 95.1 -0.4 -0.1 0.1 -0.2 0.0

Nonmanufactured consumer goods. . . . . . .. 42 0.962 123.6 123.9 -4.2 0.2 -0.2 0.5 0.2

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

5
Table 2. U.S. export price indexes and percent changes for selected categories of goods: December 2022 to

December 2023

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

All commodities................................... 100.000 147.3 146.0 -3.2 0.5 -0.9 -0.9 -0.9

Agricultural commodities....................... 10.612 231.7 230.2 -8.9 -1.1 -1.0 0.1 -0.6

All exports excluding food and fuels (Dec.

2010=100)........................................ 73.934 113.7 113.9 0.4 0.1 -0.1 -0.1 0.2

All exports excluding fuels (June

2022=100)........................................ 83.612 98.6 98.7 0.1 0.0 -0.2 0.0 0.1

Nonagricultural commodities.................. 89.388 140.8 139.5 -2.4 0.7 -0.9 -1.0 -0.9

Foods, feeds, & beverages................... 0 9.678 232.5 230.9 -9.7 -1.4 -1.0 0.2 -0.7

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 9.308 235.0 233.4 -9.3 -1.4 -1.0 0.2 -0.7

Nonagricultural foods (fish, distilled

beverages).................................. 01 0.370 185.5 184.8 -17.4 -2.8 -1.2 -0.1 -0.4

Industrial supplies & materials.............. 1 37.781 196.5 192.1 -8.3 1.5 -2.1 -2.2 -2.2

Industrial supplies & materials, durable. . .. 10.844 208.0 210.5 -1.5 0.0 -1.2 1.0 1.2

Industrial supplies & materials,

nondurable.................................. 26.937 189.5 182.5 -11.0 2.1 -2.5 -3.5 -3.7

Agricultural industrial supplies &

materials..................................... 10 1.272 218.7 218.1 -6.5 0.4 -0.6 -0.3 -0.3

Nonagricultural industrial supplies &

materials..................................... 36.509 195.9 191.3 -8.4 1.5 -2.1 -2.3 -2.3

Fuels & lubricants............................. 11 16.388 239.4 225.3 -14.0 3.6 -4.2 -5.2 -5.9

Nonagricultural supplies & materials

excluding fuels & building materials. . . .. 12 19.295 189.1 190.1 -3.7 -0.2 -0.4 0.2 0.5

Selected building materials.................. 13 0.826 150.0 150.5 -1.8 0.5 1.1 0.1 0.3

Capital goods................................... 2 31.246 121.5 121.5 2.2 0.1 0.1 -0.1 0.0

Electrical generating equipment............. 20 3.457 136.5 136.8 0.7 -0.4 0.1 0.1 0.2

Nonelectrical machinery...................... 21 22.839 101.7 101.6 1.5 0.1 0.1 -0.1 -0.1

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 4.950 211.8 211.9 6.6 0.2 0.0 0.1 0.0

Automotive vehicles, parts & engines..... 3 8.428 126.0 126.2 3.3 1.0 0.3 -0.1 0.2

Consumer goods, excluding

automotives.................................. 4 12.867 118.5 118.8 1.8 -0.3 -0.3 -0.2 0.3

Nondurables, manufactured................. 40 6.793 109.8 110.0 1.2 -0.5 -0.2 -0.3 0.2

Durables, manufactured...................... 41 4.830 119.2 119.6 3.2 -0.1 -0.6 -0.1 0.3

Nonmanufactured consumer goods (Dec.

2018=100)................................... 42 1.245 127.2 127.1 -0.2 -0.8 0.0 0.0 -0.1

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

6
Table 3. U.S. import price indexes and percent changes for selected industries: December 2022 to December

2023

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Nonmanufacturing................................ 8.720 154.2 150.4 -2.8 6.0 -1.6 -4.5 -2.5

Agriculture, forestry, fishing and

hunting........................................ 11 2.334 230.8 231.9 8.0 2.0 -1.2 3.5 0.5

Crop production............................... 111 1.904 244.8 246.3 8.4 2.6 -0.7 4.7 0.6

Animal production (Dec. 2022=100)........ 112 0.260 109.9 110.3 10.3 -1.9 -3.1 -2.1 0.4

Mining............................................ 21 6.386 148.4 143.1 -6.4 7.3 -1.7 -7.1 -3.6

Oil and gas extraction........................ 211 6.107 146.9 141.4 -7.2 7.6 -1.9 -7.4 -3.7

Mining (except oil and gas) (Dec.

2022=100)................................... 212 0.279 111.3 110.9 10.9 1.2 2.2 -2.4 -0.4

Manufacturing..................................... 91.009 121.3 121.6 -1.5 -0.1 -0.4 -0.2 0.2

Manufacturing, part 1......................... 31 11.393 137.8 137.8 -0.2 -0.8 0.0 0.0 0.0

Food manufacturing.......................... 311 4.173 184.2 183.9 -1.1 -2.1 0.2 -0.2 -0.2

Beverage and tobacco product

manufacturing............................... 312 1.193 141.1 141.7 4.8 0.1 -0.3 0.1 0.4

Apparel manufacturing....................... 315 3.225 118.9 119.0 -0.5 -0.1 0.1 0.2 0.1

Leather and allied product

manufacturing............................... 316 1.383 127.4 127.2 0.2 0.1 0.1 0.2 -0.2

Manufacturing, part 2......................... 32 19.647 140.6 142.0 -5.0 0.4 -1.5 -1.0 1.0

Paper manufacturing......................... 322 0.975 122.9 122.3 -4.4 -1.8 1.1 0.9 -0.5

Petroleum and coal products

manufacturing............................... 324 2.915 134.2 143.7 -13.3 4.9 -8.6 -4.6 7.1

Chemical manufacturing..................... 325 11.029 148.8 148.8 -3.5 -0.3 0.3 -0.3 0.0

Plastics and rubber products

manufacturing............................... 326 2.609 131.5 130.7 -1.8 -0.2 -1.2 -0.2 -0.6

Nonmetallic mineral product

manufacturing............................... 327 1.069 144.4 144.5 1.8 -0.5 -0.3 -0.1 0.1

Manufacturing, part 3......................... 33 59.969 112.2 112.2 -0.6 -0.1 -0.2 0.1 0.0

Primary metal manufacturing................ 331 4.668 216.4 217.7 -6.6 -1.3 -1.5 1.8 0.6

Fabricated metal product manufacturing... 332 3.275 146.1 147.2 -2.3 -0.3 -0.3 -0.5 0.8

Machinery manufacturing.................... 333 7.761 131.7 131.8 2.7 0.1 -0.3 0.1 0.1

Computer and electronic product

manufacturing............................... 334 16.797 72.5 72.4 -2.3 0.0 0.0 0.0 -0.1

Electrical equipment, appliance, and

component manufacturing................. 335 5.960 126.6 126.6 -0.1 -0.2 -0.2 -0.5 0.0

Transportation equipment manufacturing... 336 13.217 118.0 117.9 1.5 0.1 0.3 0.0 -0.1

Furniture and related product

manufacturing............................... 337 2.018 128.6 127.7 -1.3 0.2 -0.1 -0.4 -0.7

Miscellaneous manufacturing............... 339 6.272 127.9 128.2 1.3 -0.2 0.1 0.0 0.2

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

7
Table 4. U.S. export price indexes and percent changes for selected industries: December 2022 to December

2023

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Nonmanufacturing................................ 14.515 172.0 168.0 -15.7 2.0 -2.3 -2.8 -2.3

Agriculture, forestry, fishing and

hunting........................................ 11 5.066 190.0 190.3 -15.2 -2.5 -1.8 0.2 0.2

Crop production............................... 111 4.741 200.3 200.9 -15.9 -2.8 -1.8 0.3 0.3

Mining............................................ 21 9.449 107.5 103.6 -16.0 4.4 -2.5 -4.4 -3.6

Oil and gas extraction (Dec. 2021=100). .. 211 8.094 95.0 91.3 -17.0 5.2 -3.1 -5.5 -3.9

Mining (except oil and gas).................. 212 1.355 136.8 133.6 -9.9 -0.7 1.1 2.9 -2.3

Manufacturing..................................... 83.855 133.4 132.5 -0.8 0.2 -0.6 -0.6 -0.7

Manufacturing, part 1......................... 31 6.970 172.4 171.8 -2.8 -0.1 -0.3 0.0 -0.3

Food manufacturing.......................... 311 5.163 203.6 202.6 -3.2 0.1 -0.5 -0.1 -0.5

Beverage and tobacco product

manufacturing............................... 312 0.533 142.8 143.4 -1.6 0.2 0.1 1.3 0.4

Manufacturing, part 2......................... 32 26.087 135.0 131.7 -4.9 0.7 -1.6 -2.1 -2.4

Wood product manufacturing (Dec.

2017=100)................................... 321 0.414 116.8 117.4 0.6 1.2 0.4 0.4 0.5

Paper manufacturing......................... 322 1.543 142.6 143.4 -8.9 -1.3 3.0 -0.8 0.6

Petroleum and coal products

manufacturing............................... 324 6.669 151.3 137.0 -11.6 3.1 -6.2 -6.1 -9.5

Chemical manufacturing..................... 325 14.175 130.9 130.7 -2.8 -0.2 0.0 -0.7 -0.2

Plastics and rubber products

manufacturing............................... 326 2.312 134.1 134.2 0.9 0.5 -0.1 -0.1 0.1

Nonmetallic mineral product

manufacturing............................... 327 0.776 132.6 132.9 -0.2 -0.2 0.2 -0.2 0.2

Manufacturing, part 3......................... 33 50.797 128.8 129.0 1.7 0.1 -0.2 0.2 0.2

Primary metal manufacturing................ 331 4.199 197.0 198.7 -5.1 -0.8 -3.4 3.0 0.9

Machinery manufacturing.................... 333 9.665 150.2 150.1 3.9 0.0 0.0 -0.1 -0.1

Computer and electronic product

manufacturing............................... 334 12.901 83.0 82.9 -1.0 0.1 0.0 -0.1 -0.1

Electrical equipment, appliance, and

component manufacturing................. 335 3.590 135.1 135.3 1.5 -0.6 0.3 0.0 0.1

Transportation equipment manufacturing... 336 12.397 145.7 145.8 4.7 0.8 0.3 0.0 0.1

Miscellaneous manufacturing............... 339 4.980 138.4 138.8 3.5 -0.3 0.1 0.1 0.3

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

8
Table 5. U.S. import price indexes and percent changes for selected categories of goods: December 2022 to

December 2023

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Live animals; animal products................. I 1.485 222.8 220.6 -2.1 -2.1 -2.1 -2.8 -1.0

Meat and edible meat offal..................... 02 0.396 313.3 315.3 4.3 -3.3 -0.8 -2.7 0.6

Fish and crustaceans, molluscs and other

aquatic invertebrates......................... 03 0.723 139.0 134.8 -13.9 -2.1 -2.6 -3.6 -3.0

Vegetable products............................... II 2.287 261.6 263.7 4.0 -0.2 -0.4 3.3 0.8

Edible vegetables, roots, and tubers.......... 07 0.618 551.8 558.9 13.0 2.7 -2.5 5.1 1.3

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.831 131.4 130.7 3.6 1.2 1.7 3.8 -0.5

Coffee, tea, mate and spices.................. 09 0.386 297.5 306.9 7.8 -1.1 -1.3 2.5 3.2

Animal or vegetable fats and oils (Dec.

2009=100)........................................ III 0.384 147.4 148.3 -2.4 -2.3 1.4 -0.3 0.6

Prepared foodstuffs, beverages, and

tobacco........................................... IV 3.434 198.0 198.9 4.1 -0.2 0.1 0.7 0.5

Sugars and sugar confectionary (Dec.

2021=100)..................................... 17 0.226 120.8 121.7 13.4 0.5 2.8 0.4 0.7

Cocoa and cocoa preparations (Dec.

2009=100)..................................... 18 0.265 130.9 135.6 21.1 1.0 0.9 2.8 3.6

Miscellaneous edible preparations (Dec.

2022=100)..................................... 21 0.401 99.5 99.7 -0.3 -0.2 1.3 0.6 0.2

Beverages, spirits, and vinegar................ 22 1.119 154.2 154.7 4.6 0.2 -0.3 -0.2 0.3

Mineral products.................................. V 9.405 294.7 294.2 -9.0 6.4 -4.0 -6.3 -0.2

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 9.062 287.8 287.3 -9.5 6.7 -4.3 -6.4 -0.2

Products of the chemical or allied

industries........................................ VI 10.525 170.5 170.4 -2.0 -0.1 0.2 -0.2 -0.1

Inorganic chemicals............................. 28 0.607 498.5 511.5 -6.5 1.7 -0.5 1.1 2.6

Organic chemicals............................... 29 2.373 143.3 142.0 -1.3 0.6 0.7 -0.5 -0.9

Pharmaceutical products....................... 30 5.263 147.5 147.6 1.0 0.1 -0.1 0.2 0.1

Fertilizers (Dec. 2022=100).................... 31 0.328 61.1 61.4 -38.6 -10.7 1.4 -3.8 0.5

Tanning extracts; dye, pigments, varnish,

paints & putty (Dec. 2022=100)............. 32 0.205 101.1 101.3 1.3 0.1 -0.9 -1.0 0.2

Miscellaneous chemical products............. 38 0.804 116.0 114.7 -4.8 -0.2 -0.1 -1.6 -1.1

Plastics and articles thereof; rubber and

articles thereof.................................. VII 4.071 154.0 153.3 -2.7 -0.5 -0.5 -0.3 -0.5

Plastics and articles thereof.................... 39 2.613 151.5 150.1 -5.7 -0.8 -0.9 -0.3 -0.9

Rubber and articles thereof.................... 40 1.458 162.0 162.5 3.0 0.1 0.3 -0.2 0.3

Woodpulp, recovered paper, and paper

products......................................... X 0.966 128.5 127.9 -4.8 -1.8 1.0 0.5 -0.5

Textile and textile articles....................... XI 4.439 120.5 120.6 -0.3 -0.1 -0.1 0.2 0.1

Articles of apparel and clothing accessories,

not knitted or crocheted...................... 62 1.215 126.7 126.7 -0.7 -0.2 0.1 0.1 0.0

Headgear, umbrellas, artificial flowers,

etc................................................. XII 1.211 127.1 126.8 -0.2 0.0 0.1 0.2 -0.2

Footwear and parts of such articles........... 64 0.981 124.0 123.7 -0.2 0.0 0.1 0.2 -0.2

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.932 136.8 136.8 2.0 -0.5 -0.2 -0.2 0.0

Articles of stone, plaster, cement, asbestos,

or mica (Dec. 2020=100).................... 68 0.341 101.5 101.3 -0.4 -1.0 -0.2 -0.2 -0.2

Glass and glassware (Dec. 2021=100)....... 70 0.328 107.6 107.8 7.5 -0.3 -0.3 -0.1 0.2

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 3.191 223.5 225.7 -3.1 -0.8 -2.4 2.8 1.0

See footnotes at end of table.

9
Table 5. U.S. import price indexes and percent changes for selected categories of goods: December 2022 to

December 2023 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Base metals and articles of base metals. . .. XV 6.092 226.6 227.4 -4.1 -1.0 -0.4 -0.4 0.4

Articles of iron or steel.......................... 73 1.798 194.5 194.4 -4.8 -2.0 -0.6 -0.7 -0.1

Copper and articles thereof.................... 74 0.525 365.5 374.9 -1.4 -3.2 -2.4 1.7 2.6

Aluminum and articles thereof................. 76 1.045 185.3 187.4 -2.8 0.1 -0.1 -0.6 1.1

Tools, implements, cutlery, spoons and

forks, of base metal; parts thereof.......... 82 0.450 132.0 132.2 1.8 -0.2 -0.2 -0.1 0.2

Miscellaneous articles of base metal. . . . . . . .. 83 0.537 143.7 143.5 -5.6 0.0 -1.4 -0.6 -0.1

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 29.977 82.4 82.3 -0.6 -0.1 0.0 -0.1 -0.1

Machinery and mechanical appliances;

parts thereof................................... 84 15.277 89.4 89.3 -0.3 0.0 -0.2 -0.1 -0.1

Electrical machinery and equip, sound and

TV recorders & reproducers, parts......... 85 14.700 75.9 75.7 -0.9 0.0 0.1 0.0 -0.3

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 10.995 122.6 122.6 1.2 0.0 0.3 0.0 0.0

Motor vehicles and their parts................. 87 10.477 121.8 121.8 1.4 0.1 0.3 0.0 0.0

Aircraft, spacecraft, and parts thereof (Dec.

2020=100)..................................... 88 0.517 107.2 107.1 -0.7 -0.4 0.0 0.0 -0.1

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 4.173 108.3 108.9 2.8 0.0 0.0 -0.2 0.6

Optical, photographic, measuring and

medical instruments.......................... 90 3.879 103.9 104.4 2.5 0.0 0.0 -0.1 0.5

Miscellaneous manufactured articles......... XX 4.844 119.8 119.7 -0.3 0.1 -0.2 -0.2 -0.1

Furniture & stuffed furnishings; lamps &

lighting fittings, nesoi; prefab bldgs......... 94 2.749 126.8 126.7 -1.0 0.1 0.0 -0.5 -0.1

Toys, games and sports equipment; parts

and accessories thereof...................... 95 1.793 106.4 106.5 0.0 0.1 -0.3 -0.1 0.1

Miscellaneous manufactured articles. . . . . . . .. 96 0.302 147.6 147.6 6.9 -0.1 -0.1 0.0 0.0

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

10
Table 6. U.S. export price indexes and percent changes for selected categories of goods: December 2022 to

December 2023

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Live animals; animal products................. I 2.085 259.5 257.4 -6.3 0.7 0.9 -1.1 -0.8

Meat & edible meat offal (Dec. 2006=100)... 02 1.317 220.8 220.1 4.0 -0.6 1.6 -1.4 -0.3

Fish and crustaceans, mollusks and aquatic

invertebrates (Dec. 2022=100).............. 03 0.217 75.3 74.8 -25.2 -4.2 -1.0 -0.1 -0.7

Vegetable products............................... II 4.760 247.9 248.8 -15.3 -2.8 -2.3 0.0 0.4

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.850 140.6 146.7 5.5 1.2 1.4 5.5 4.3

Cereals............................................ 10 1.552 249.6 244.7 -25.5 -5.2 0.8 -3.1 -2.0

Oilseeds and misc. grains, seeds, fruits,

plants, straw and fodder..................... 12 1.841 267.3 267.0 -13.4 -3.2 -6.4 1.5 -0.1

Prepared foodstuffs, beverages, and

tobacco........................................... IV 3.063 186.5 186.6 -0.5 -0.2 -0.6 0.5 0.1

Miscellaneous edible preparations (Dec.

2017=100)..................................... 21 0.677 116.1 116.7 5.6 -0.4 -1.0 -1.4 0.5

Beverages, spirits, and vinegar (Dec.

2008=100)..................................... 22 0.471 107.6 107.6 -0.3 -0.6 -0.5 0.0 0.0

Residues and waste from the food

industries; prepared animal feed............ 23 0.772 300.0 301.2 -10.9 -0.6 -0.1 3.3 0.4

Mineral products.................................. V 16.196 287.9 270.8 -14.1 3.8 -4.1 -5.1 -5.9

Ores, slag and ash (Dec. 2012=100)......... 26 0.468 123.1 123.9 -3.7 -1.0 1.0 -1.7 0.6

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 15.505 276.2 259.0 -14.7 4.0 -4.3 -5.2 -6.2

Products of the chemical or allied

industries........................................ VI 12.698 159.0 158.5 -3.0 -0.4 -0.2 -0.7 -0.3

Pharmaceutical products....................... 30 4.493 107.6 107.8 2.2 -0.5 -0.4 -0.1 0.2

Essential oils and resinoids; perfumery

cosmetic or toilet preparations.............. 33 0.880 148.4 148.3 5.1 -0.1 0.0 0.0 -0.1

Soap; lubricants; waxes, polishing or

scouring products; candles, pastes......... 34 0.495 140.1 140.0 3.4 -0.1 1.7 -0.8 -0.1

Miscellaneous chemical products............. 38 2.333 192.0 192.1 4.3 -0.2 -0.1 -0.3 0.1

Plastics and articles thereof; rubber and

articles thereof.................................. VII 4.595 157.3 156.7 -1.0 0.4 0.3 -0.3 -0.4

Plastics and articles thereof.................... 39 3.773 153.7 152.9 -1.8 0.5 0.0 -0.3 -0.5

Rubber and articles thereof.................... 40 0.822 172.6 173.2 2.7 -0.2 1.8 -0.3 0.3

Wood, wood charcoal, cork, straw, baskets

and wickerwork (Dec. 2014=100)............ IX 0.471 106.6 107.3 -4.3 1.0 -0.7 0.4 0.7

Woodpulp, recovered paper, and paper

products......................................... X 1.710 144.2 144.8 -5.1 -1.4 4.0 -0.9 0.4

Woodpulp and recovered paper (Dec.

2019=100)..................................... 47 0.504 149.1 151.6 -9.9 -1.5 11.9 -0.5 1.7

Paper and paperboard; articles of paper

pulp, paper or paperboard................... 48 0.960 143.2 143.2 -4.4 -1.7 1.0 -1.5 0.0

Cotton, including yarns and woven fabrics

thereof.......................................... 52 0.479 160.7 162.4 -10.2 0.4 -0.2 -2.4 1.1

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.776 151.8 152.1 3.2 0.0 2.0 -0.1 0.2

Glass and glassware (Dec. 2019=100)....... 70 0.469 114.6 114.9 2.0 0.0 0.3 0.0 0.3

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 4.553 308.4 312.2 -1.7 -1.0 -2.9 4.0 1.2

Base metals and articles of base metals. . .. XV 4.428 204.5 208.4 -1.4 0.4 -1.1 -1.4 1.9

Copper and articles thereof.................... 74 0.568 249.9 256.3 -5.2 -0.3 -4.3 -0.5 2.6

Aluminum and articles thereof................. 76 0.673 143.5 144.5 -0.8 -1.3 2.7 0.0 0.7

See footnotes at end of table.

11
Table 6. U.S. export price indexes and percent changes for selected categories of goods: December 2022 to

December 2023 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Miscellaneous articles of base metal (Dec.

2022=100)..................................... 83 0.331 104.8 104.7 4.7 0.0 1.7 0.0 -0.1

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 26.210 106.6 106.5 1.8 0.1 0.0 -0.1 -0.1

Machinery and mechanical appliances;

parts thereof................................... 84 15.295 130.9 130.6 4.1 0.1 0.2 -0.1 -0.2

Electrical machinery and equipment and

parts and accessories thereof............... 85 10.915 81.3 81.5 -1.0 0.2 -0.2 -0.1 0.2

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 9.311 152.5 152.7 2.8 1.0 0.2 0.0 0.1

Motor vehicles and their parts................. 87 7.042 127.4 127.5 2.2 1.1 0.3 0.0 0.1

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 5.721 118.4 118.6 3.9 0.0 0.1 0.0 0.2

Miscellaneous manufactured articles......... XX 1.206 134.2 134.4 0.1 -0.3 0.1 -0.6 0.1

Furniture; stuffed furnishings; lamps and

lighting fittings nesoi.......................... 94 0.579 147.8 147.8 -0.7 -0.6 0.0 0.0 0.0

Toys, games and sports equipment; parts

and accessories thereof...................... 95 0.494 117.8 118.3 3.7 0.1 0.1 -0.2 0.4

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

12
Table 7. U.S. import price indexes and percent changes by locality of origin: December 2022 to December 2023

[2000=100, unless otherwise noted]

Description

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Industrialized Countries2

.................... 100.000 144.6 144.2 -1.7 0.3 -0.6 -1.0 -0.3

Nonmanufacturing........................... 11.477 257.5 249.0 -5.8 6.1 -3.0 -5.9 -3.3

Manufacturing................................ 88.078 135.6 135.7 -1.2 -0.3 -0.4 -0.2 0.1

Canada.......................................... 100.000 172.8 170.5 -6.0 1.4 -1.3 -2.8 -1.3

Nonmanufacturing........................... 32.427 253.5 244.4 -6.7 6.4 -3.2 -6.0 -3.6

Manufacturing................................ 66.729 154.6 154.2 -5.7 -0.8 -0.4 -1.1 -0.3

European Union............................... 100.000 154.7 155.2 1.4 -0.4 -0.4 -0.3 0.3

Manufacturing................................ 99.165 150.4 150.9 1.5 -0.4 -0.5 -0.3 0.3

France (Dec. 2003=100)...................... 100.000 150.2 150.6 5.8 -0.7 -0.7 -0.1 0.3

Germany (Dec. 2003=100)................... 100.000 123.1 123.5 -2.1 -0.6 -0.9 0.2 0.3

United Kingdom (Dec. 2003=100).......... 100.000 136.6 136.3 1.0 0.9 -0.4 -0.3 -0.2

Latin America3

................................. 100.000 171.5 172.7 2.6 0.9 -0.2 0.0 0.7

Nonmanufacturing........................... 14.650 341.4 337.7 4.8 4.5 -0.9 -1.6 -1.1

Manufacturing................................ 85.037 137.7 139.1 2.4 0.3 0.0 0.2 1.0

Mexico (Dec. 2003=100)...................... 100.000 146.0 146.1 3.6 0.1 -0.4 -0.1 0.1

Nonmanufacturing (Dec. 2008=100). . . . .. 9.087 175.4 172.4 13.7 -1.5 -3.6 -2.9 -1.7

Manufacturing (Dec. 2008=100)........... 90.606 99.6 99.8 2.7 0.3 -0.1 0.3 0.2

Pacific Rim (Dec. 2003=100)4............... 100.000 102.4 102.2 -2.0 0.0 -0.1 -0.3 -0.2

China (Dec. 2003=100)....................... 100.000 101.2 101.1 -3.0 -0.2 -0.1 -0.2 -0.1

Japan............................................ 100.000 101.6 101.5 0.4 0.1 0.1 0.1 -0.1

Taiwan (Dec. 2018=100)...................... 100.000 109.5 109.0 -2.0 -0.1 0.3 -0.3 -0.5

Asian NICs5

..................................... 100.000 95.3 94.7 -2.7 0.0 -0.2 -0.4 -0.6

ASEAN (Dec. 2003=100)6

.................... 100.000 100.7 100.2 -3.0 -0.1 0.0 -0.5 -0.5

Asia Near East (Dec. 2003=100)7

........... 100.000 215.4 208.1 -7.7 1.1 -0.9 -3.8 -3.4

1 Relative importance figures are based on 2021 trade values.

2 Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

3 Mexico, Central America, South America, and the Caribbean.

4 China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized

Countries.

5 Asian Newly Industrialized Countries - Hong Kong, Singapore, South Korea, and Taiwan.

6 Association of Southeast Asian Nations - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

7 Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, and Yemen.

NOTES: Data may be revised in each of the 3 months after original publication.

Regions are not mutually exclusive.

Dash = Not available

13
Table 8. U.S. export price indexes and percent changes by locality of destination: December 2022 to December

2023

[December 2017=100, unless otherwise noted]

Description

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Industrialized Countries2

.................... 100.000 119.4 119.2 -0.5 0.6 -0.7 -0.7 -0.2

Nonmanufacturing........................... 12.506 137.2 132.9 -8.3 3.1 -1.7 -5.7 -3.1

Manufacturing................................ 85.708 117.6 117.8 0.7 0.3 -0.5 0.0 0.2

Canada.......................................... 100.000 127.9 127.9 -1.0 0.6 -0.3 -0.5 0.0

Nonmanufacturing (Dec. 2020=100). . . . .. 7.786 136.5 133.4 -18.4 2.0 -0.5 -1.7 -2.3

Manufacturing (Dec. 2020=100)........... 90.460 119.5 119.7 0.6 0.6 -0.2 -0.5 0.2

European Union............................... 100.000 116.8 116.5 -0.6 0.9 -0.8 -1.5 -0.3

Nonmanufacturing........................... 15.504 137.0 133.5 -4.0 7.0 -4.5 -7.4 -2.6

Manufacturing................................ 82.818 113.3 113.3 0.3 -0.3 0.0 -0.3 0.0

Germany........................................ 100.000 117.2 117.3 3.3 0.0 -1.0 0.4 0.1

Latin America3

................................. 100.000 122.6 119.9 -5.7 1.0 -1.3 -1.8 -2.2

Nonmanufacturing........................... 9.062 137.1 134.0 -28.0 0.4 1.7 -3.5 -2.3

Manufacturing................................ 90.351 121.9 119.2 -2.5 1.0 -1.6 -1.6 -2.2

Mexico........................................... 100.000 122.6 120.8 -4.1 0.2 -0.8 -1.8 -1.5

Nonmanufacturing........................... 8.028 120.8 117.4 -32.8 -0.9 4.9 -3.4 -2.8

Manufacturing................................ 91.344 123.7 122.0 -0.6 0.3 -1.3 -1.8 -1.4

Pacific Rim4.................................... 100.000 112.0 111.4 -3.6 0.3 -0.6 -1.1 -0.5

Nonmanufacturing........................... 20.493 115.6 112.6 -12.8 1.1 -2.0 -5.2 -2.6

Manufacturing................................ 78.354 112.8 112.7 -0.4 0.0 -0.1 0.0 -0.1

China............................................ 100.000 107.5 106.8 -3.1 0.6 -0.5 -1.0 -0.7

Nonmanufacturing........................... 27.089 106.8 103.8 -9.4 0.7 -2.2 -2.7 -2.8

Manufacturing................................ 71.822 110.2 110.2 -0.7 0.5 0.4 -0.4 0.0

Japan............................................ 100.000 108.6 106.7 -9.5 -0.2 0.4 -1.8 -1.7

Nonmanufacturing........................... 23.591 114.9 109.8 -20.5 -1.4 3.0 -5.6 -4.4

Manufacturing................................ 75.363 107.3 106.3 -4.7 0.3 -0.5 -0.6 -0.9

1 Relative importance figures are based on 2021 trade values.

2 Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

3 Mexico, Central America, South America, and the Caribbean.

4 China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized

Countries.

NOTES: Data may be revised in each of the 3 months after original publication.

Regions are not mutually exclusive.

Dash = Not available

14
Table 9. U.S. terms of trade indexes and percent changes by locality: December 2022 to December 20231

[December 2017=100, unless otherwise noted]

Description

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Industrialized Countries2

............................ 101.1 101.2 1.2 0.2 -0.1 0.3 0.1

Canada.................................................. 97.3 98.6 5.3 -0.8 1.1 2.4 1.3

European Union...................................... 101.6 101.0 -1.9 1.4 -0.3 -1.3 -0.6

Germany................................................ 109.6 109.3 5.5 0.6 -0.1 0.3 -0.3

Latin America3

........................................ 106.4 103.4 -8.0 0.0 -1.1 -1.8 -2.8

Mexico.................................................. 108.3 106.7 -7.5 0.1 -0.4 -1.8 -1.5

Pacific Rim4............................................ 107.6 107.3 -1.6 0.3 -0.5 -0.8 -0.3

China.................................................... 106.3 105.7 -0.2 0.8 -0.4 -0.8 -0.6

Japan.................................................... 102.1 100.4 -9.9 -0.3 0.3 -1.9 -1.7

1 Terms of trade indexes are derived by dividing the export price index by the corresponding import price index and multiplying by 100.

2 Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

3 Mexico, Central America, South America, and the Caribbean.

4 China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized

Countries.

NOTES: Data may be revised in each of the 3 months after original publication.

Regions are not mutually exclusive.

Dash = Not available

15
Table 10. U.S. international price indexes and percent changes for selected transportation services: December

2022 to December 2023

[2000=100, unless otherwise noted]

Description

Relative

importance

Nov.

20231

Index Percent change

Nov.

2023

Dec.

2023

Annual Monthly

Dec.

2022 to

Dec.

2023

Aug.

2023 to

Sep.

2023

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Air Freight

Import Air Freight.................................... 100.000 239.9 271.7 -4.6 4.1 -0.6 4.5 13.3

Europe (Dec. 2003=100).......................... 22.581 178.9 183.1 -30.6 -7.7 -0.3 -3.3 2.3

Asia.................................................. 76.981 248.0 290.5 6.5 9.1 -0.4 7.4 17.1

Export Air Freight................................... 100.000 169.5 170.1 -12.9 1.0 -5.2 -0.5 0.4

Europe (Dec. 2006=100).......................... 25.318 133.1 134.9 -15.8 1.1 -5.8 -2.1 1.4

Asia (Dec. 2011=100).............................. 53.298 134.0 135.4 -10.5 0.8 -6.9 0.8 1.0

Inbound Air Freight................................. 100.000 173.6 185.7 -5.2 3.7 0.5 3.5 7.0

Europe (Dec. 2003=100).......................... 25.759 143.6 149.7 -14.2 -6.4 -3.0 -0.6 4.2

Asia.................................................. 63.444 168.7 185.4 0.9 10.1 0.0 7.4 9.9

Outbound Air Freight............................... 100.000 169.5 169.8 -16.6 8.0 0.4 -6.4 0.2

Europe (Dec. 2003=100).......................... 29.204 165.6 167.1 -14.2 0.9 -2.6 -2.1 0.9

Asia.................................................. 54.161 184.2 185.5 -18.9 13.0 3.2 -9.9 0.7

Air Passenger Fares

Import Air Passenger Fares....................... 100.000 177.5 189.7 -4.2 9.9 2.5 -0.4 6.9

Europe............................................... 43.207 189.7 192.8 -0.9 17.7 -0.8 -7.6 1.6

Asia.................................................. 5.876 177.8 198.0 -4.0 3.1 3.8 0.2 11.4

Latin America/Caribbean.......................... 16.175 157.9 172.5 -11.0 -2.8 8.2 5.3 9.2

Export Air Passenger Fares....................... 100.000 181.0 174.9 -5.3 -4.5 -0.6 1.3 -3.4

Europe............................................... 19.911 210.4 199.7 -4.3 0.8 -3.8 -8.0 -5.1

Asia.................................................. 12.034 198.8 191.2 -5.8 -10.8 -2.9 2.6 -3.8

Latin America/Caribbean.......................... 54.371 183.6 175.4 -7.1 -4.3 0.5 4.9 -4.5

1 Relative importance figures are based on 2021 trade values.

NOTES: Data may be revised in each of the 3 months after original publication.

Dash = Not available

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TECHNICAL NOTE

Import and Export Goods and Services Price Indexes - All indexes use a modified Laspeyres 

formula and are not seasonally adjusted. Price indexes are reweighted annually, with a 2-year lag in the 

weights. Published series use a base year of 2000=100 where possible. More detailed index series and 

additional information may be obtained at www.bls.gov/mxp or by calling (202) 691-7101. 

Merchandise Goods Classification Systems - The merchandise price indexes are published using three 

classification systems. Items are classified by end use according to the Bureau of Economic Analysis 

Classification System, by industry according to the North American Industry Classification System 

(NAICS), and by product category according to the Harmonized System (HS). While classification by 

end use and product category are self-explanatory, some notes are in order for classifying items by 

industry. In the NAICS imports and exports tables, items are classified by output industry, not input 

industry. As an example, NAICS import index 326 (plastics and rubber products manufacturing) 

includes outputs such as manufactured plastic rather than inputs such as petroleum. The NAICS 

classification structure also matches the classification system used by the Producer Price Index (PPI) to 

produce the NAICS primary products indexes.

Import Price Goods Indexes - Items are classified by the Harmonized Tariff Schedule of the United 

States Annotated (TSUSA). Import prices are based on U.S. dollar prices paid by the U.S. importer. The 

prices are generally either "free on board" (f.o.b.) foreign port or "cost, insurance, and freight" (c.i.f.) 

U.S. port transaction prices, depending on the practices of the individual industry. The index for crude 

petroleum is calculated from data collected by the U.S. Department of Energy. 

Export Price Goods Indexes - Items are classified by the Harmonized Schedule B classification system 

of the U.S. Bureau of the Census. The prices used are generally either "free alongside ship" (f.a.s.) 

factory or "free on board" (f.o.b.) transaction prices, depending on the practices of the individual 

industry. Prices used in the grain index, excluding rice, are obtained from the U.S. Department of 

Agriculture. 

Services Price Indexes - Indexes for import and export air passenger fares calculate changes in the 

average revenue received per passenger by foreign carriers from U.S. residents and by U.S. carriers from 

foreign residents, respectively. Data are obtained from an airline consulting service and report on tickets 

sold by travel agencies, travel websites, and directly by the airlines. Taxes and fees are included in both 

the import and export air passenger fares indexes. Import air passenger fares data have used the airline 

consulting service source since September 2008. Before April 2018, the export air passenger fares data 

were collected directly by BLS from U.S. airlines. The air freight indexes are calculated from data 

collected directly from airlines. These data exclude mail and passenger baggage. The scope of the 

service being priced is the movement of freight from airport to airport only, and does not include any 

ground transportation or port service. The air freight indexes are presented using two definitions: 

balance of payments (which represents transactions between U.S. and foreign residents) and 

international (which represents transactions inbound to and outbound from the United States.) Fact 

sheets specifying detailed information for each services industry are available at www.bls.gov/mxp 

under "MXP Publications." 
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Import Price Indexes by Locality of Origin - Prices used in these indexes are a subset of the data 

collected for the import price indexes. The indexes are specific to a country, region, or grouping and, 

beginning with January 2002, are based on the North American Industry Classification System (NAICS) 

covering goods-producing industries. Nonmanufactured goods are defined as NAICS 11 and 21, and 

manufactured goods are defined as NAICS 31-33. 

Export Price Indexes by Locality of Destination - Prices used in these indexes are a subset of the data 

collected for the export price indexes. The indexes are specific to a country, region, or grouping and are 

based on the North American Industry Classification System (NAICS) covering goods-producing 

industries. Nonmanufactured goods are defined as NAICS 11 and 21, and manufactured goods are 

defined as NAICS 31-33. 

Terms of Trade Indexes - Terms of trade indexes measure the relative price of exports in terms of 

import prices for a specific country, region, or grouping. The indexes are calculated as one country, 

region, or grouping’s all-export goods price index divided by the corresponding all-import goods price 

index on a scale of 100. 

 

Relative Importance - A relative importance is a specific index’s price-updated value share (expressed 

as a percentage) of overall imports or exports at a specific point in time. Relative importance values are 

affected by the trade weights at the point indexes are reweighted and index changes relative to other 

indexes since the reweight point. If an index is rising in value relative to other indexes over time, the 

relative importance will increase as well. 

Revision Policy - To reflect the availability of late reports and corrections by respondents, monthly data 

may be revised in each of the 3 months after original publication. After 3 months, no further data 

revisions take place. For example, data first published in the January release will be subject to revision 

in the releases for February, March, and April. 

Rounding Policy - Index values are rounded to the tenth decimal place after being calculated. All 

percent changes are then derived from the rounded index values and subsequently rounded to the tenth 

decimal place. 

Uses of the Data - The primary use of the indexes is to deflate trade statistics, notably the foreign trade 

sector of the National Income and Product Accounts (NIPA) constructed by the Department of 

Commerce. Other published indexes are useful for general market analysis. For trade in international 

services, balance of payments indexes are used for deflating NIPA, while international indexes are more 

appropriate for market analysis. 

Email Subscription - The U.S. import and export price indexes news release is available through an 

email subscription service at https://subscriptions.bls.gov/accounts/USDOLBLS/subscriber/new. 

 

Additional Information - More detailed data are available on the Import/Export Price Indexes home 

page at www.bls.gov/mxp. For import and export price indexes data requests, send an email to 

mxpinfo@bls.gov. 

If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access 

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