U.S. IMPORT AND EXPORT PRICE INDEXES – JANUARY 2024

Prices for U.S. imports advanced 0.8 percent in January following a 0.7-percent decline the previous month, 

the U.S. Bureau of Labor Statistics reported today. Higher prices for both nonfuel and fuel imports 

contributed to the overall increase. U.S. export prices also advanced 0.8 percent in January, after decreasing 

0.7 percent in December. 

Chart 1. One-month and 12-month percent changes in the Import Price Index: January 2023 – January 2024

Imports 

The price index for U.S. imports rose 0.8 percent in January, the first 1-month increase since September 

2023 and the largest monthly advance since the index rose 2.9 percent in March 2022. Despite the January 

increase, U.S. import prices fell 1.3 percent over the past year and have not risen on a 12-month basis since 

January 2023. (See table 1.)

Fuel Imports: Import fuel prices increased 1.2 percent in January following declines of 7.7 percent in 

December, 6.3 percent in November, and 3.9 percent in October. In January, higher petroleum prices more 

than offset lower natural gas prices. In spite of the January rise, import fuel prices declined 10.8 percent 

over the past 12 months. Prices for import petroleum rose 2.3 percent in January, after decreasing 18.5 

percent in the final quarter of 2023. Petroleum prices declined 2.7 percent for the year ended in January, the 

smallest 12-month drop since the index last increased in December 2022. In contrast, the price index for 

import natural gas fell 24.5 percent in January following a 3.6-percent decrease the previous month. Natural 

gas prices declined 75.9 percent over the past year. 

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0.6 0.5

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0.8 0.9

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-4.8

-3.0

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-2.4

-1.3

-8.0

-6.0

-4.0

-2.0

0.0

2.0

Jan'23 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan'24

1-month percent change 12-month percent change

Transmission of material in this release is embargoed until

8:30 a.m. (ET) Thursday, February 15, 2024 

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

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

USDL-24-0268
2

All Imports Excluding Fuel: Prices for nonfuel imports advanced 0.7 percent in January, after being 

unchanged in December. The January increase was the largest 1-month rise since the index advanced 1.2 

percent in March 2022. In January, prices for consumer goods, capital goods, automotive vehicles, and 

foods, feeds, and beverages all contributed to the overall advance. The price index for nonfuel imports 

decreased 0.3 percent for the year ended in January, the smallest 12-month decline since the index last rose 

in February 2023. 

Foods, Feeds, and Beverages: Import foods, feeds, and beverages prices rose 1.5 percent in January, the 

largest monthly increase since July 2023. The January advance was led by a 10.2-percent rise in fruit prices 

and a 4.9-percent increase in vegetable prices. 

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials was

unchanged in January following a 0.4-percent increase in December. In January, lower prices for finished 

metals and chemicals offset higher prices for unfinished metals and selected building materials. 

Finished Goods: Prices for each of the major finished goods import categories advanced in January. 

Consumer goods prices rose 1.1 percent in January, the largest monthly increase since the 1-month percent 

change series was first published in January 1989. The January 2024 rise was driven by a 4.1-percent 

advance in medicinal, dental, and pharmaceutical materials. Automotive vehicles prices advanced 0.8 

percent in January, the largest monthly increase since May 2011. Higher prices for parts, engines, bodies, 

and chassis and passenger cars led the January advance. The price index for capital goods also rose in 

January, increasing 0.4 percent, the largest 1-month advance since April 2022. 

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: January 2023 – January 2024

Exports 

U.S. export prices increased 0.8 percent in January, after declining 0.7 percent in each of the 2 previous 

months. The January advance was the first monthly rise since September 2023. Higher nonagricultural 

export prices in January more than offset lower agricultural prices. Despite the January increase, U.S. export 

prices decreased 2.4 percent over the past 12 months. (See table 2.)

Agricultural Exports: Prices for agricultural exports fell 1.0 percent, after declining 0.2 percent the 

previous month. Lower prices in January for soybeans, animal feeds not elsewhere specified, corn, 

vegetables, and fruit all contributed to the overall decline. Agricultural export prices decreased 8.7 percent 

for the year ended in January. The 12-month drop was primarily led by a 17.8-percent decline in soybeans 

prices and a 30.7-percent decrease in corn prices. 

All Exports Excluding Agriculture: The price index for nonagricultural exports rose 0.9 percent in 

January, the first monthly advance since September 2023. Higher prices in January for nonagricultural 

industrial supplies and materials, capital goods, automotive vehicles, and nonagricultural foods more than 

offset lower consumer goods prices. Nonagricultural export prices decreased 1.6 percent from January 2023 

to January 2024. 

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

rose 2.0 percent in January, after declining 6.0 percent over the 3 previous months. The January advance 

was led by a 4.8-percent increase in fuel prices. The rise in fuel prices followed declines of 5.4 percent in 

December, 4.9 percent in November, and 4.2 percent in October. 

Finished Goods: Prices for the major finished goods export categories were mixed in January. The price 

index for export capital goods rose 0.9 percent, the largest monthly advance since January 2022. The 

increase was driven by higher prices for civilian aircraft, aircraft engines, and parts; and industrial and 

service machinery. Prices for automotive vehicles rose 0.4 percent in January, after advancing 0.2 percent 

the previous month. The increase was led by higher prices for parts, engines, bodies, and chassis. In 

contrast, consumer goods prices fell 1.2 percent, the largest 1-month decline since June 1991. 

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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1.2 0.5

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0.8

2.0

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-11.8

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-5.7

-4.3 -4.7 -5.1

-2.9 -2.4

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-10.0

-8.0

-6.0

-4.0

-2.0

0.0

2.0

4.0

Jan'23 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan'24

1-month percent change 12-month percent change
4

Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Prices for imports from China decreased 0.3 percent in January, the largest 

1-month decline since July 2023. The price index for imports from China last increased on a monthly basis 

in October 2022. Import prices from China fell 2.9 percent from January 2023 to January 2024. In contrast, 

prices for imports from Japan rose 1.1 percent in January, after edging down 0.1 percent in December. The 

January increase was the largest monthly advance for the index since a 1.2-percent rise in November 1998. 

Import prices from Japan increased 1.4 percent over the past year. The price index for imports from Canada 

declined 0.2 percent in January following decreases of 3.7 percent in December and 3.3 percent in 

November. Prices for imports from Canada fell 9.0 percent for the year ended in January. Import prices 

from the European Union advanced 1.0 percent in January and prices for imports from Mexico rose 1.3 

percent over the same period. (See table 7.)

Exports by Locality of Destination: Export prices to China fell 0.9 percent in January, the largest 1-month 

drop since a 1.7-percent decline in June 2023. The price index for exports to China decreased 3.4 percent 

over the past 12 months. Prices for exports to Japan fell 0.7 percent in January following a 0.1-percent 

advance the previous month. Export prices to Japan declined 7.9 percent over the past year. The price index 

for exports to Canada decreased 0.5 percent in January, the largest monthly drop since May 2023. Prices for 

exports to Canada fell 0.9 percent for the year ended in January. In contrast, export prices to the European 

Union increased 1.8 percent in January and prices for exports to Mexico advanced 0.7 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 January, after increasing 0.3 percent in December. Lower export prices to China in January more 

than offset lower import prices from China. The index for U.S. terms of trade with China declined 0.6 

percent for the year ended in January. U.S. terms of trade with Japan declined 1.9 percent in January 

following a 0.2-percent increase the previous month. The index for U.S. terms of trade with Japan declined 

9.2 percent over the past year. U.S. terms of trade with Canada fell 0.3 percent in January following a 3.8-

percent advance in December and a 3.1-percent increase in November. The index for U.S. terms of trade 

with the European Union rose 0.8 percent in January and U.S. terms of trade with Mexico fell 0.6 percent 

over the same period. (See table 9.)

Import and Export Services

Imports: Import air passenger fares decreased 6.2 percent in January following a 6.9-percent advance the 

previous month. Lower Asian and Latin American/Caribbean fares in January more than offset higher 

European fares. Despite the January decrease, import air passenger fares rose 2.6 percent over the past year, 

the first 12-month advance since June 2023. The price index for import air freight fell 12.1 percent in 

January, after rising 13.3 percent in December. Lower Asian air freight prices drove the January decline. 

Prices for import air freight decreased 5.5 percent over the past 12 months. (See table 10.)

Exports: Export air passenger fares increased 10.8 percent in January following a 3.4-percent drop the 

previous month. The January advance was the largest monthly rise since January 2023. Higher Latin 

American/Caribbean, European, and Asian fares in January all contributed to the overall advance. In spite of 

the January increase, export air passenger fares fell 6.6 percent over the past year. Export air freight prices 

rose 2.7 percent in January, after falling 1.2 percent in December. Despite the January increase, prices for 

export air freight fell 9.4 percent from January 2023 to January 2024. 

 

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

March 15, 2024, at 8:30 a.m. (ET). 
Table 1. U.S. import price indexes and percent changes for selected categories of goods: January 2023 to

January 2024

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

All commodities................................... 100.000 138.4 139.5 -1.3 -0.6 -0.5 -0.7 0.8

All imports excluding food and fuels (Dec.

2010=100)........................................ 84.942 107.4 108.1 -0.6 -0.2 0.1 0.0 0.7

All imports excluding petroleum.............. 92.518 123.1 123.8 -1.4 -0.2 0.2 0.0 0.6

All imports excluding fuels (Dec.

2001=100)........................................ 92.118 126.8 127.7 -0.3 -0.2 0.1 0.0 0.7

Foods, feeds, & beverages................... 0 7.177 214.7 217.9 2.9 -0.4 0.9 -0.1 1.5

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 5.869 242.3 246.6 5.8 -0.2 1.7 0.2 1.8

Nonagricultural foods (fish, distilled

beverages).................................. 01 1.307 147.8 148.2 -8.5 -1.7 -2.1 -1.5 0.3

Industrial supplies & materials.............. 1 22.668 234.9 235.9 -7.6 -1.9 -2.4 -2.7 0.4

Industrial supplies & materials excluding

petroleum.................................... 15.343 198.3 197.2 -10.6 -0.6 0.8 0.3 -0.6

Industrial supplies & materials excluding

fuels (Dec. 2001=100)..................... 14.774 221.0 220.9 -5.8 -0.6 0.2 0.4 0.0

Industrial supplies & materials, durable. . .. 9.411 214.6 214.7 -4.9 -1.2 0.4 0.5 0.0

Industrial supplies & materials nondurable

excluding petroleum....................... 5.774 179.6 177.0 -18.2 0.3 1.4 0.0 -1.4

Fuels & lubricants............................. 10 7.882 265.3 268.5 -10.8 -3.9 -6.3 -7.7 1.2

Petroleum & petroleum products......... 100 7.482 282.4 288.9 -2.7 -4.1 -7.5 -8.1 2.3

Crude petroleum........................... 10000 5.090 288.9 293.2 1.2 -2.0 -9.2 -9.9 1.5

Fuels, n.e.s.-coals & gas.................. 101 0.399 184.0 150.6 -69.2 -1.8 21.0 -2.9 -18.2

Natural gas.................................. 10110 0.296 164.8 124.5 -75.9 -2.6 30.4 -3.6 -24.5

Paper & paper base stocks.................. 11 0.543 139.6 140.0 -6.2 1.9 1.3 -0.7 0.3

Materials associated with nondurable

supplies & materials....................... 12 4.832 193.4 193.1 -7.3 0.3 -0.3 0.4 -0.2

Unfinished metals related to durable

goods........................................ 14 3.430 313.1 316.1 -8.2 -1.0 1.2 0.6 1.0

Finished metals related to durable

goods........................................ 15 2.635 218.0 214.5 -1.3 -1.7 1.2 1.5 -1.6

Capital goods................................... 2 28.922 93.1 93.5 -0.1 -0.2 0.0 -0.1 0.4

Nonelectrical machinery...................... 21 22.939 84.0 84.1 -0.7 -0.1 -0.1 -0.1 0.1

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 1.625 153.0 155.2 4.3 0.0 -0.1 0.1 1.4

Automotive vehicles, parts & engines..... 3 13.656 119.2 120.2 2.1 0.4 -0.1 0.1 0.8

Automotive vehicles, parts and engines, 2

digit (Dec. 2023=100)...................... 30 13.656 100.0 100.9 – – – – 0.9

Consumer goods, excluding

automotives.................................. 4 27.578 109.5 110.7 0.6 -0.3 0.0 0.0 1.1

Nondurables, manufactured................. 40 13.716 125.4 127.9 2.4 0.1 0.2 0.0 2.0

Durables, manufactured...................... 41 12.871 94.4 94.6 -0.8 -0.5 -0.2 -0.1 0.2

Nonmanufactured consumer goods. . . . . . .. 42 0.991 124.0 123.8 -3.5 -0.2 0.5 0.3 -0.2

1 Relative importance figures are based on 2022 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: January 2023 to

January 2024

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

All commodities................................... 100.000 146.4 147.5 -2.4 -0.9 -0.7 -0.7 0.8

Agricultural commodities....................... 9.751 231.2 228.8 -8.7 -1.0 0.1 -0.2 -1.0

All exports excluding food and fuels (Dec.

2010=100)........................................ 75.420 114.1 114.3 0.2 -0.2 0.2 0.2 0.2

All exports excluding fuels (June

2022=100)........................................ 84.315 98.9 98.9 -0.5 -0.2 0.1 0.2 0.0

Nonagricultural commodities.................. 90.249 139.9 141.2 -1.6 -0.9 -0.8 -0.8 0.9

Foods, feeds, & beverages................... 0 8.895 232.5 230.0 -9.3 -0.9 0.1 0.0 -1.1

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 8.516 235.0 232.3 -9.0 -1.0 0.1 0.0 -1.1

Nonagricultural foods (fish, distilled

beverages).................................. 01 0.378 185.6 186.6 -16.4 -1.2 0.2 -0.2 0.5

Industrial supplies & materials.............. 1 37.619 193.2 196.9 -5.7 -2.1 -1.8 -2.1 1.9

Industrial supplies & materials, durable. . .. 10.942 210.4 210.4 -1.8 -1.1 1.1 1.0 0.0

Industrial supplies & materials,

nondurable.................................. 26.677 184.1 189.1 -7.3 -2.5 -2.9 -3.4 2.7

Agricultural industrial supplies &

materials..................................... 10 1.207 215.2 214.4 -6.8 -1.0 0.0 -1.6 -0.4

Nonagricultural industrial supplies &

materials..................................... 36.411 192.6 196.4 -5.7 -2.1 -1.8 -2.1 2.0

Fuels & lubricants............................. 11 15.685 227.1 238.1 -8.8 -4.2 -4.9 -5.4 4.8

Nonagricultural supplies & materials

excluding fuels & building materials. . . .. 12 19.959 191.2 191.0 -3.1 -0.3 0.7 0.5 -0.1

Selected building materials.................. 13 0.767 150.4 147.5 -1.5 1.1 0.1 0.3 -1.9

Capital goods................................... 2 31.768 121.4 122.5 2.3 0.0 -0.1 0.0 0.9

Nonelectrical machinery...................... 21 22.700 101.7 102.2 1.5 0.1 -0.2 0.1 0.5

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 5.547 212.5 218.9 8.6 0.1 0.2 0.1 3.0

Automotive vehicles, parts & engines..... 3 8.644 126.3 126.8 2.3 0.3 -0.1 0.2 0.4

Vehicles-passenger (Dec. 2023=100)...... 30 8.644 100.0 100.4 – – – – 0.4

Consumer goods, excluding

automotives.................................. 4 13.075 118.8 117.4 -0.4 -0.3 -0.2 0.3 -1.2

Nondurables, manufactured................. 40 7.020 110.0 107.5 -1.8 -0.2 -0.3 0.2 -2.3

Durables, manufactured...................... 41 4.881 119.7 119.8 1.6 -0.6 -0.1 0.4 0.1

Nonmanufactured consumer goods (Dec.

2018=100)................................... 42 1.174 127.1 127.1 -0.2 0.0 0.0 -0.1 0.0

1 Relative importance figures are based on 2022 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: January 2023 to January 2024

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Nonmanufacturing................................ 7.858 144.2 145.2 -6.0 -1.6 -4.6 -6.4 0.7

Agriculture, forestry, fishing and

hunting........................................ 11 2.189 230.3 238.7 9.3 -1.3 3.1 0.3 3.6

Crop production............................... 111 1.809 244.1 255.1 10.3 -1.1 4.3 0.5 4.5

Animal production (Dec. 2022=100)........ 112 0.225 110.4 108.2 5.4 -3.0 -2.1 0.4 -2.0

Mining............................................ 21 5.669 135.3 134.8 -11.1 -1.7 -7.1 -8.9 -0.4

Oil and gas extraction........................ 211 5.423 133.4 133.2 -11.5 -1.9 -7.3 -9.3 -0.1

Mining (except oil and gas) (Dec.

2022=100)................................... 212 0.246 109.9 103.1 -3.2 2.2 -2.5 -1.2 -6.2

Manufacturing..................................... 91.806 121.0 121.8 -1.0 -0.5 -0.2 -0.2 0.7

Manufacturing, part 1......................... 31 11.952 137.7 137.7 -0.6 0.0 0.0 -0.1 0.0

Food manufacturing.......................... 311 4.253 183.8 183.7 -1.9 0.2 -0.3 -0.2 -0.1

Beverage and tobacco product

manufacturing............................... 312 1.186 141.6 141.2 2.8 -0.3 0.1 0.4 -0.3

Textile mills (Dec. 2023=100)............... 313 0.323 100.0 100.1 – – – – 0.1

Textile product mills (Dec. 2023=100). . . .. 314 0.906 100.0 100.0 – – – – 0.0

Apparel manufacturing....................... 315 3.565 119.0 119.1 -0.3 0.1 0.2 0.1 0.1

Manufacturing, part 2......................... 32 18.928 139.6 142.0 -3.0 -1.5 -1.0 -0.8 1.7

Paper manufacturing......................... 322 1.023 122.3 122.3 -4.0 1.1 0.9 -0.5 0.0

Printing and related support activities

(Dec. 2023=100)........................... 323 0.148 100.0 99.9 – – – – -0.1

Petroleum and coal products

manufacturing............................... 324 2.132 127.1 132.5 -8.7 -8.6 -4.7 -5.2 4.2

Chemical manufacturing..................... 325 11.103 149.1 151.8 -2.2 0.3 -0.2 0.1 1.8

Plastics and rubber products

manufacturing............................... 326 2.572 131.0 130.8 -1.0 -1.2 -0.2 -0.4 -0.2

Nonmetallic mineral product

manufacturing............................... 327 1.114 144.8 145.9 2.5 -0.3 -0.1 0.2 0.8

Manufacturing, part 3......................... 33 60.927 112.1 112.6 -0.4 -0.3 0.0 0.1 0.4

Primary metal manufacturing................ 331 4.633 217.7 219.3 -6.0 -1.5 1.8 0.6 0.7

Fabricated metal product manufacturing... 332 3.260 146.6 144.8 -3.3 -0.4 -0.5 0.4 -1.2

Machinery manufacturing.................... 333 8.087 131.8 132.2 1.5 -0.3 0.1 0.1 0.3

Computer and electronic product

manufacturing............................... 334 16.731 72.1 72.2 -2.2 -0.4 0.0 -0.1 0.1

Electrical equipment, appliance, and

component manufacturing................. 335 6.390 125.9 127.1 0.3 -0.4 -0.6 -0.2 1.0

Transportation equipment manufacturing... 336 14.027 118.1 119.2 2.2 0.3 0.0 0.0 0.9

Furniture and related product

manufacturing............................... 337 1.879 127.3 128.3 -0.4 -0.1 -0.4 -1.0 0.8

Miscellaneous manufacturing............... 339 5.920 128.1 128.9 1.7 0.0 0.1 0.2 0.6

1 Relative importance figures are based on 2022 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: January 2023 to January 2024

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Nonmanufacturing................................ 14.400 169.5 175.1 -8.8 -2.3 -2.5 -1.7 3.3

Agriculture, forestry, fishing and

hunting........................................ 11 4.719 191.0 186.9 -15.2 -1.8 0.3 0.5 -2.1

Crop production............................... 111 4.429 201.8 196.9 -16.0 -1.8 0.4 0.6 -2.4

Mining............................................ 21 9.680 104.8 111.1 -5.4 -2.5 -3.9 -3.0 6.0

Oil and gas extraction (Dec. 2021=100). .. 211 8.363 92.7 98.9 -4.5 -3.1 -5.0 -2.9 6.7

Mining (except oil and gas).................. 212 1.318 132.8 135.2 -10.7 1.1 2.9 -2.9 1.8

Manufacturing..................................... 83.959 132.7 133.1 -1.0 -0.6 -0.4 -0.7 0.3

Manufacturing, part 1......................... 31 6.564 172.1 171.3 -2.8 -0.3 -0.1 -0.1 -0.5

Food manufacturing.......................... 311 4.733 203.0 201.9 -3.1 -0.5 -0.2 -0.2 -0.5

Beverage and tobacco product

manufacturing............................... 312 0.545 143.5 142.6 -2.0 0.1 1.3 0.5 -0.6

Manufacturing, part 2......................... 32 25.561 132.2 132.0 -5.7 -1.6 -1.7 -2.4 -0.2

Wood product manufacturing (Dec.

2017=100)................................... 321 0.427 117.3 118.2 0.7 0.4 0.4 0.4 0.8

Petroleum and coal products

manufacturing............................... 324 5.662 136.6 139.6 -14.4 -6.2 -6.1 -9.7 2.2

Chemical manufacturing..................... 325 14.780 131.6 130.2 -2.5 0.1 -0.1 -0.2 -1.1

Plastics and rubber products

manufacturing............................... 326 2.265 134.2 134.8 0.5 -0.1 -0.1 0.1 0.4

Nonmetallic mineral product

manufacturing............................... 327 0.748 132.8 132.2 1.9 0.2 -0.2 0.1 -0.5

Manufacturing, part 3......................... 33 51.833 129.0 129.8 1.6 -0.2 0.2 0.2 0.6

Primary metal manufacturing................ 331 4.420 198.9 197.8 -4.1 -3.4 3.1 0.9 -0.6

Machinery manufacturing.................... 333 9.558 150.3 151.3 3.1 0.0 -0.1 0.0 0.7

Computer and electronic product

manufacturing............................... 334 12.703 82.9 83.1 -0.5 0.0 -0.2 0.0 0.2

Transportation equipment manufacturing... 336 13.233 146.1 148.2 4.7 0.3 0.1 0.2 1.4

Furniture and related product

manufacturing (Dec. 2023=100).......... 337 0.351 100.0 101.8 – – – – 1.8

Miscellaneous manufacturing............... 339 5.032 138.8 139.9 3.7 0.1 0.1 0.4 0.8

1 Relative importance figures are based on 2022 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: January 2023 to

January 2024

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Live animals; animal products................. I 1.393 221.3 223.7 -1.6 -2.0 -2.8 -0.8 1.1

Meat and edible meat offal..................... 02 0.403 317.4 318.7 7.7 -0.7 -2.6 1.1 0.4

Fish and crustaceans, molluscs and other

aquatic invertebrates......................... 03 0.645 135.1 139.1 -12.7 -2.6 -3.6 -2.8 3.0

Vegetable products............................... II 2.208 262.6 274.4 6.8 -0.2 2.9 0.5 4.5

Edible vegetables, roots, and tubers.......... 07 0.545 537.2 577.7 13.1 -2.5 3.5 -1.1 7.5

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.805 133.9 148.9 18.6 1.8 5.0 0.7 11.2

Coffee, tea, mate and spices.................. 09 0.397 308.1 286.8 -4.1 -1.6 2.7 3.6 -6.9

Animal or vegetable fats and oils (Dec.

2009=100)........................................ III 0.454 148.3 144.1 -6.7 1.4 -0.3 0.6 -2.8

Animal or vegetable fats and oils and their

cleavage products; prepared (Dec.

2023=100)..................................... 15 0.454 100.0 97.2 – – – – -2.8

Prepared foodstuffs, beverages, and

tobacco........................................... IV 3.486 198.6 199.0 3.2 0.1 0.8 0.3 0.2

Sugars and sugar confectionary (Dec.

2021=100)..................................... 17 0.237 121.7 123.9 12.9 2.8 0.4 0.7 1.8

Cocoa and cocoa preparations (Dec.

2009=100)..................................... 18 0.265 135.6 141.5 24.9 0.9 2.8 3.6 4.4

Preparations of cereals, flour, starch or milk;

bakers’ wares (Dec. 2023=100)............. 19 0.499 100.0 100.2 – – – – 0.2

Miscellaneous edible preparations (Dec.

2022=100)..................................... 21 0.426 99.6 98.8 -1.2 1.3 0.6 0.1 -0.8

Beverages, spirits, and vinegar................ 22 1.124 154.6 154.1 2.4 -0.3 -0.2 0.3 -0.3

Mineral products.................................. V 7.914 272.3 275.3 -10.5 -4.0 -6.2 -7.6 1.1

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 7.601 265.1 268.7 -10.7 -4.3 -6.4 -7.9 1.4

Products of the chemical or allied

industries........................................ VI 10.758 170.7 173.4 -1.4 0.2 -0.1 0.0 1.6

Organic chemicals............................... 29 2.365 142.3 137.1 -7.5 0.7 -0.4 -0.8 -3.7

Pharmaceutical products....................... 30 5.489 147.8 154.9 5.5 -0.1 0.3 0.1 4.8

Fertilizers (Dec. 2022=100).................... 31 0.219 61.1 62.3 -36.6 1.4 -3.9 0.2 2.0

Tanning extracts; dye, pigments, varnish,

paints & putty (Dec. 2022=100)............. 32 0.201 101.3 101.4 0.7 -0.9 -1.0 0.2 0.1

Miscellaneous chemical products............. 38 0.933 115.4 114.7 -6.1 0.0 -1.4 -0.8 -0.6

Plastics and articles thereof; rubber and

articles thereof.................................. VII 3.798 153.5 153.6 -1.6 -0.5 -0.2 -0.4 0.1

Plastics and articles thereof.................... 39 2.531 150.4 150.9 -3.7 -0.9 -0.2 -0.8 0.3

Rubber and articles thereof.................... 40 1.267 162.4 162.0 2.5 0.3 -0.2 0.2 -0.2

Printed matter (Dec. 2023=100)............... 49 0.171 100.0 100.0 – – – – 0.0

Textile and textile articles....................... XI 4.593 120.5 120.6 -0.2 -0.1 0.2 0.0 0.1

Articles of apparel and clothing accessories,

knitted or crocheted (Dec. 2023=100). . . .. 61 1.968 100.0 100.2 – – – – 0.2

Articles of apparel and clothing accessories,

not knitted or crocheted...................... 62 1.430 126.6 126.7 -0.7 0.1 0.0 0.0 0.1

Made-up or worn textile articles (Dec.

2023=100)..................................... 63 0.630 100.0 99.6 – – – – -0.4

Headgear, umbrellas, artificial flowers,

etc................................................. XII 1.472 126.8 126.6 0.1 0.2 0.1 -0.2 -0.2

Footwear and parts of such articles........... 64 1.202 123.7 123.8 0.4 0.2 0.2 -0.3 0.1

See footnotes at end of table.

9
Table 5. U.S. import price indexes and percent changes for selected categories of goods: January 2023 to

January 2024 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.950 136.9 137.8 2.2 -0.2 -0.2 0.1 0.7

Articles of stone, plaster, cement, asbestos,

or mica (Dec. 2020=100).................... 68 0.332 101.3 101.1 0.0 -0.2 -0.2 -0.2 -0.2

Glass and glassware (Dec. 2021=100)....... 70 0.340 107.8 110.1 7.2 -0.3 -0.1 0.2 2.1

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 3.081 225.7 225.8 -4.8 -2.4 2.8 1.0 0.0

Pearls, precious stones, precious metals

jewelry, coin (Dec. 2023=100).............. 71 3.081 100.0 100.0 – – – – 0.0

Base metals and articles of base metals. . .. XV 5.899 227.1 227.1 -4.3 -0.4 -0.4 0.3 0.0

Articles of iron or steel.......................... 73 1.784 194.2 193.8 -5.8 -0.7 -0.8 0.0 -0.2

Copper and articles thereof.................... 74 0.497 375.3 380.0 0.6 -2.3 1.7 2.6 1.3

Aluminum and articles thereof................. 76 1.083 187.4 183.4 -5.5 -0.1 -0.6 1.1 -2.1

Tools, implements, cutlery, spoons and

forks, of base metal; parts thereof.......... 82 0.418 132.3 133.1 1.4 -0.2 -0.1 0.2 0.6

Miscellaneous articles of base metal. . . . . . . .. 83 0.524 143.5 142.9 -5.9 -1.5 -0.5 -0.1 -0.4

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 30.810 82.1 82.4 -0.6 -0.2 -0.1 -0.1 0.4

Machinery and mechanical appliances;

parts thereof................................... 84 15.433 89.3 89.7 -0.2 -0.2 -0.1 -0.1 0.4

Electrical machinery and equip, sound and

TV recorders & reproducers, parts......... 85 15.377 75.3 75.6 -0.8 -0.4 0.0 -0.3 0.4

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 11.863 122.7 123.7 1.7 0.4 0.0 0.0 0.8

Motor vehicles and their parts................. 87 11.094 121.9 122.8 1.7 0.3 0.1 0.0 0.7

Aircraft, spacecraft, and parts thereof (Dec.

2020=100)..................................... 88 0.628 107.2 107.5 -0.4 0.0 0.0 0.0 0.3

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 4.172 108.9 110.0 3.6 -0.1 -0.1 0.6 1.0

Optical, photographic, measuring and

medical instruments.......................... 90 3.868 104.4 105.4 3.4 -0.1 0.0 0.5 1.0

Miscellaneous manufactured articles......... XX 4.601 119.5 120.2 0.4 -0.2 -0.2 -0.3 0.6

Furniture & stuffed furnishings; lamps &

lighting fittings, nesoi; prefab bldgs......... 94 2.560 126.4 127.0 -0.5 0.0 -0.5 -0.3 0.5

Toys, games and sports equipment; parts

and accessories thereof...................... 95 1.733 106.4 106.9 0.6 -0.3 -0.1 0.0 0.5

Miscellaneous manufactured articles. . . . . . . .. 96 0.307 147.6 151.4 8.8 -0.1 0.0 0.0 2.6

1 Relative importance figures are based on 2022 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: January 2023 to

January 2024

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Live animals; animal products................. I 1.932 257.9 257.5 -5.9 0.9 -1.3 -0.4 -0.2

Meat & edible meat offal (Dec. 2006=100)... 02 1.231 220.4 223.3 5.9 1.7 -1.7 0.1 1.3

Vegetable products............................... II 4.332 250.2 243.7 -15.9 -2.2 -0.1 0.9 -2.6

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.850 146.8 144.6 5.2 1.6 5.6 4.0 -1.5

Cereals............................................ 10 1.217 244.7 237.7 -28.6 0.9 -3.2 -2.0 -2.9

Oilseeds and misc. grains, seeds, fruits,

plants, straw and fodder..................... 12 1.828 265.7 259.4 -17.8 -6.4 1.5 -0.6 -2.4

Prepared foodstuffs, beverages, and

tobacco........................................... IV 3.020 187.7 187.2 -0.6 -0.6 0.6 0.6 -0.3

Preparations of cereals, flour, starch or milk;

bakers’ wares (Dec. 2023=100)............. 19 0.299 100.0 100.0 – – – – 0.0

Miscellaneous edible preparations (Dec.

2017=100)..................................... 21 0.639 119.2 124.2 8.1 -1.0 -1.4 2.7 4.2

Residues and waste from the food

industries; prepared animal feed............ 23 0.733 301.9 287.3 -11.4 -0.1 3.3 0.6 -4.8

Mineral products.................................. V 15.400 272.6 285.1 -8.8 -4.1 -4.8 -5.6 4.6

Ores, slag and ash (Dec. 2012=100)......... 26 0.412 121.3 120.0 -13.4 0.6 -1.6 -1.1 -1.1

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 14.792 260.9 273.4 -8.8 -4.3 -4.9 -5.8 4.8

Products of the chemical or allied

industries........................................ VI 12.709 158.9 156.8 -3.4 -0.2 -0.6 -0.3 -1.3

Pharmaceutical products....................... 30 4.590 107.8 103.6 -2.9 -0.4 -0.1 0.2 -3.9

Essential oils and resinoids; perfumery

cosmetic or toilet preparations.............. 33 0.826 148.3 151.5 3.9 0.0 0.0 -0.1 2.2

Miscellaneous chemical products............. 38 2.312 192.1 191.2 1.1 -0.1 -0.3 0.1 -0.5

Rubber and articles thereof.................... 40 0.842 173.4 174.1 3.4 1.8 -0.2 0.4 0.4

Wood, wood charcoal, cork, straw, baskets

and wickerwork (Dec. 2014=100)............ IX 0.468 107.1 108.2 -3.7 -0.7 0.4 0.5 1.0

Wood and articles of wood; wood charcoal

(Dec. 2023=100).............................. 44 0.468 100.0 101.0 – – – – 1.0

Woodpulp and recovered paper (Dec.

2019=100)..................................... 47 0.530 157.3 159.3 -7.9 11.9 0.5 4.4 1.3

Cotton, including yarns and woven fabrics

thereof.......................................... 52 0.495 156.4 155.9 -10.4 -1.0 -1.3 -2.9 -0.3

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.749 152.0 154.0 6.1 2.0 -0.1 0.1 1.3

Glass and glassware (Dec. 2019=100)....... 70 0.359 114.9 114.3 3.7 0.3 0.0 0.3 -0.5

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 4.848 312.2 314.2 -2.0 -2.9 4.0 1.2 0.6

Pearls, precious stones, precious metals;

jewelry, coin (Dec. 2023=100).............. 71 4.848 100.0 100.6 – – – – 0.6

Base metals and articles of base metals. . .. XV 4.487 208.7 208.2 -0.3 -1.0 -1.4 1.9 -0.2

Copper and articles thereof.................... 74 0.538 256.3 258.0 -1.4 -4.3 -0.5 2.6 0.7

Aluminum and articles thereof................. 76 0.708 144.5 145.5 -2.0 2.7 0.0 0.7 0.7

Miscellaneous articles of base metal (Dec.

2022=100)..................................... 83 0.337 104.7 103.1 2.9 1.7 0.0 -0.1 -1.5

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 26.415 106.5 107.6 2.0 -0.1 -0.1 0.0 1.0

Machinery and mechanical appliances;

parts thereof................................... 84 15.608 130.8 133.0 4.4 0.2 -0.1 -0.1 1.7

See footnotes at end of table.

11
Table 6. U.S. export price indexes and percent changes for selected categories of goods: January 2023 to

January 2024 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Electrical machinery and equipment and

parts and accessories thereof............... 85 10.807 81.2 81.3 -1.2 -0.4 -0.2 0.1 0.1

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 9.760 152.9 153.5 2.5 0.3 0.0 0.2 0.4

Motor vehicles and their parts................. 87 7.279 127.6 128.1 2.2 0.3 0.0 0.2 0.4

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 5.810 118.5 119.3 3.9 0.1 0.0 0.1 0.7

Optical, photographic, measuring and

medical instruments (Dec. 2023=100). . . .. 90 5.757 100.0 100.6 – – – – 0.6

Miscellaneous manufactured articles......... XX 1.167 134.4 135.3 -0.7 0.1 -0.6 0.1 0.7

Furniture; stuffed furnishings; lamps and

lighting fittings nesoi.......................... 94 0.576 147.8 149.7 0.1 0.0 0.0 0.0 1.3

Toys, games and sports equipment; parts

and accessories thereof...................... 95 0.453 118.3 118.4 0.7 0.1 -0.2 0.4 0.1

1 Relative importance figures are based on 2022 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: January 2023 to January 2024

[2000=100, unless otherwise noted]

Description

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Industrialized Countries2

.................... 100.000 142.8 143.8 -2.0 -0.6 -1.1 -1.1 0.7

Nonmanufacturing........................... 9.949 227.7 225.2 -15.0 -3.0 -7.3 -10.2 -1.1

Manufacturing................................ 89.662 135.7 136.9 -0.4 -0.4 -0.2 0.1 0.9

Canada.......................................... 100.000 165.6 165.2 -9.0 -1.3 -3.3 -3.7 -0.2

Nonmanufacturing........................... 29.852 222.3 219.7 -16.3 -3.2 -7.5 -10.9 -1.2

Manufacturing................................ 69.276 154.2 154.3 -5.6 -0.4 -1.0 -0.3 0.1

European Union............................... 100.000 155.5 157.1 1.7 -0.3 -0.2 0.3 1.0

Manufacturing................................ 99.304 151.2 152.8 1.7 -0.3 -0.2 0.3 1.1

France (Dec. 2003=100)...................... 100.000 150.6 151.3 4.4 -0.7 -0.1 0.3 0.5

Germany (Dec. 2003=100)................... 100.000 123.7 123.7 -1.8 -0.7 0.1 0.4 0.0

United Kingdom (Dec. 2003=100).......... 100.000 136.6 137.3 0.1 -0.4 -0.3 0.0 0.5

Latin America3

................................. 100.000 170.0 172.0 2.1 -0.8 -0.1 -0.2 1.2

Nonmanufacturing........................... 13.674 331.7 341.9 8.1 -1.1 -1.6 -2.5 3.1

Manufacturing................................ 86.051 137.0 138.2 1.2 -0.7 0.2 0.2 0.9

Mexico (Dec. 2003=100)...................... 100.000 144.1 146.0 3.0 -1.2 -0.1 -0.4 1.3

Nonmanufacturing (Dec. 2008=100). . . . .. 8.277 167.3 180.2 18.9 -3.9 -2.9 -4.3 7.7

Manufacturing (Dec. 2008=100)........... 91.454 98.6 99.4 1.8 -0.9 0.1 0.0 0.8

Pacific Rim (Dec. 2003=100)4............... 100.000 102.2 102.2 -1.8 -0.2 -0.2 -0.2 0.0

China (Dec. 2003=100)....................... 100.000 101.0 100.7 -2.9 -0.1 -0.2 -0.2 -0.3

Japan............................................ 100.000 101.5 102.6 1.4 0.1 0.1 -0.1 1.1

Taiwan (Dec. 2018=100)...................... 100.000 108.8 107.6 -3.4 -0.2 -0.3 -0.2 -1.1

Asian NICs5

..................................... 100.000 94.6 94.0 -3.1 -0.3 -0.5 -0.5 -0.6

ASEAN (Dec. 2003=100)6

.................... 100.000 100.1 100.1 -3.4 0.0 -0.5 -0.6 0.0

Asia Near East (Dec. 2003=100)7

........... 100.000 206.7 207.6 -6.2 -0.9 -3.8 -4.0 0.4

1 Relative importance figures are based on 2022 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: January 2023 to January

2024

[December 2017=100, unless otherwise noted]

Description

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Industrialized Countries2

.................... 100.000 119.4 120.1 0.0 -0.7 -0.6 -0.1 0.6

Nonmanufacturing........................... 14.478 136.0 138.2 -4.0 -1.7 -5.1 -1.5 1.6

Manufacturing................................ 83.967 117.7 118.1 0.7 -0.5 0.0 0.1 0.3

Canada.......................................... 100.000 128.0 127.3 -0.9 -0.3 -0.3 -0.1 -0.5

Nonmanufacturing (Dec. 2020=100). . . . .. 7.481 138.0 135.8 -0.7 -0.1 -0.8 -0.1 -1.6

Manufacturing (Dec. 2020=100)........... 90.795 119.5 118.8 -1.2 -0.2 -0.5 0.0 -0.6

European Union............................... 100.000 116.6 118.7 1.3 -0.8 -1.3 -0.3 1.8

Nonmanufacturing........................... 22.308 134.7 137.9 -0.1 -4.5 -6.7 -2.5 2.4

Manufacturing................................ 76.157 113.3 115.2 1.9 0.1 -0.3 -0.1 1.7

Germany........................................ 100.000 117.7 123.1 6.4 -1.0 0.6 0.3 4.6

Latin America3

................................. 100.000 120.6 121.5 -4.8 -1.2 -1.5 -2.0 0.7

Nonmanufacturing........................... 7.605 141.0 145.3 -13.5 3.0 -1.5 -0.5 3.0

Manufacturing................................ 91.799 119.2 119.8 -3.9 -1.6 -1.6 -2.2 0.5

Mexico........................................... 100.000 120.8 121.7 -3.9 -0.8 -1.8 -1.5 0.7

Nonmanufacturing........................... 6.410 120.1 121.7 -20.5 5.1 -2.2 -2.0 1.3

Manufacturing................................ 92.731 121.8 122.6 -2.2 -1.3 -1.8 -1.5 0.7

Pacific Rim4.................................... 100.000 112.2 112.7 -2.5 -0.6 -0.6 -0.3 0.4

Nonmanufacturing........................... 20.031 114.6 115.5 -10.5 -2.0 -4.9 -1.2 0.8

Manufacturing................................ 78.738 113.2 113.6 0.1 -0.1 0.4 -0.1 0.4

China............................................ 100.000 108.1 107.1 -3.4 -0.5 -0.6 0.1 -0.9

Nonmanufacturing........................... 24.886 106.9 104.0 -10.3 -2.2 -2.6 0.0 -2.7

Manufacturing................................ 73.655 110.9 110.5 -0.8 0.4 0.3 0.0 -0.4

Japan............................................ 100.000 108.9 108.1 -7.9 0.5 -1.7 0.1 -0.7

Nonmanufacturing........................... 21.000 118.0 118.6 -14.7 3.2 -5.4 2.3 0.5

Manufacturing................................ 77.839 106.7 105.6 -4.5 -0.4 -0.5 -0.7 -1.0

1 Relative importance figures are based on 2022 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: January 2023 to January 20241

[December 2017=100, unless otherwise noted]

Description

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Industrialized Countries2

............................ 102.3 102.2 2.1 -0.1 0.5 1.0 -0.1

Canada.................................................. 101.6 101.3 8.9 1.1 3.1 3.8 -0.3

European Union...................................... 100.9 101.7 -0.4 -0.4 -1.2 -0.7 0.8

Germany................................................ 109.5 114.5 8.3 -0.3 0.5 -0.2 4.6

Latin America3

........................................ 105.6 105.2 -6.7 -0.4 -1.5 -1.9 -0.4

Mexico.................................................. 108.1 107.5 -6.8 0.5 -1.7 -1.1 -0.6

Pacific Rim4............................................ 108.0 108.5 -0.7 -0.4 -0.5 -0.1 0.5

China.................................................... 107.1 106.5 -0.6 -0.4 -0.4 0.3 -0.6

Japan.................................................... 102.5 100.6 -9.2 0.4 -1.8 0.2 -1.9

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: January

2023 to January 2024

[2000=100, unless otherwise noted]

Description

Relative

importance

Dec.

20231

Index Percent change

Dec.

2023

Jan.

2024

Annual Monthly

Jan.

2023 to

Jan.

2024

Sep.

2023 to

Oct.

2023

Oct.

2023 to

Nov.

2023

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Air Freight

Import Air Freight.................................... 100.000 270.2 237.5 -5.5 -0.6 3.9 13.3 -12.1

Europe (Dec. 2003=100).......................... 21.912 182.7 178.7 -34.5 -0.3 -3.3 2.1 -2.2

Asia.................................................. 77.180 288.6 241.6 9.0 -0.4 6.5 17.3 -16.3

Export Air Freight................................... 100.000 174.6 179.3 -9.4 -4.9 3.4 -1.2 2.7

Europe (Dec. 2006=100).......................... 27.324 130.4 132.5 -17.5 -6.4 -2.3 -1.3 1.6

Asia (Dec. 2011=100).............................. 51.018 143.8 147.1 -4.1 -6.4 8.1 -0.5 2.3

Inbound Air Freight................................. 100.000 184.8 176.1 -6.5 0.5 3.2 6.7 -4.7

Europe (Dec. 2003=100).......................... 25.919 147.4 151.5 -19.2 -3.0 -0.6 2.6 2.8

Asia.................................................. 62.563 184.4 167.9 1.5 0.0 7.0 9.7 -8.9

Outbound Air Freight............................... 100.000 174.1 174.6 -9.9 0.2 -1.9 -1.7 0.3

Europe (Dec. 2003=100).......................... 33.893 163.3 165.8 -14.6 -3.0 -2.2 -0.9 1.5

Asia.................................................. 45.746 195.3 192.7 -7.1 2.6 -2.0 -2.0 -1.3

Air Passenger Fares

Import Air Passenger Fares....................... 100.000 189.7 178.0 2.6 2.5 -0.4 6.9 -6.2

Europe............................................... 43.741 192.8 195.1 -0.7 -0.8 -7.6 1.6 1.2

Asia.................................................. 13.424 198.0 162.0 -5.1 3.8 0.2 11.4 -18.2

Latin America/Caribbean.......................... 10.760 172.5 136.4 -10.3 8.2 5.3 9.2 -20.9

Export Air Passenger Fares....................... 100.000 174.9 193.8 -6.6 -0.6 1.3 -3.4 10.8

Europe............................................... 35.173 199.7 213.6 -3.8 -3.8 -8.0 -5.1 7.0

Asia.................................................. 12.711 191.2 220.6 -4.0 -2.9 2.6 -3.8 15.4

Latin America/Caribbean.......................... 32.380 175.4 205.7 -7.1 0.5 4.9 -4.5 17.3

1 Relative importance figures are based on 2022 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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