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

Prices for U.S. imports advanced 0.4 percent in March following a 0.3-percent rise the previous month, the 

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

overall increase. U.S. export prices rose 0.3 percent in March, after advancing 0.7 percent in February. 

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

Imports 

U.S. import prices increased for the third consecutive month in March, advancing 1.4 percent over the first 

quarter of 2024. The quarterly increase was the largest 3-month rise since the index rose 3.9 percent from 

February to May 2022. Prices for U.S. imports advanced 0.4 percent for the year ended in March, the first 

12-month increase since January 2023. (See table 1.)

Fuel Imports: The price index for import fuel rose 4.7 percent in March, after increasing 1.3 percent the 

previous month. The March advance was the largest 1-month rise since the index increased 6.4 percent in 

September 2023. Higher petroleum prices in March more than offset lower natural gas prices. Prices for 

import fuel rose 4.8 percent over the past year, the first 12-month advance since January 2023. Prices for 

import petroleum increased 6.0 percent in March, the largest monthly advance since September 2023. 

Petroleum prices rose 7.5 percent for the year ended in March, the largest 12-month increase since the index 

last advanced on a 12-month basis in December 2022. In contrast, import natural gas prices declined 31.9 

percent in March following a 14.3-percent drop in February. The March decrease was the largest monthly 

decline since February 2023. Prices for natural gas fell 50.3 percent over the past year. 

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

1-month percent change 12-month percent change

Transmission of material in this release is embargoed until

8:30 a.m. (ET) Friday, April 12, 2024 

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

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

USDL-24-0656
2

All Imports Excluding Fuel: Prices for nonfuel imports ticked up 0.1 percent in March following a 0.2-

percent advance in February. Nonfuel import prices last recorded a monthly decline in October 2023. 

Higher prices for foods, feeds, and beverages; nonfuel industrial supplies and materials; and automotive 

vehicles in March more than offset lower prices for consumer goods and capital goods. Prices for nonfuel 

imports were unchanged for the year ended in March. 

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices rose 1.6 percent in March, the largest 1-

month advance since July 2023. Higher prices for vegetables, meat, and bakery and confectionary products 

in March more than offset lower fruit prices. 

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

increased 0.6 percent in March, after decreasing 0.5 percent the previous month. The March advance was 

the largest monthly rise since December 2022. Higher prices for both finished and unfinished metals more 

than offset lower chemicals prices. 

Finished Goods: Prices for each of the major finished goods import categories were mixed in March. 

Consumer goods prices declined 0.3 percent following a 0.4-percent increase in February. Prices for capital 

goods fell 0.3 percent in March, the largest 1-month decrease since November 2019. The March drop was 

driven by a 3.5-percent decline in electric apparatus and parts not elsewhere specified. In contrast, 

automotive vehicles prices rose 0.2 percent in March, after advancing 0.1 percent the previous 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: March 2023 – March 2024

Exports 

Prices for U.S. exports advanced 0.3 percent in March, after rising 0.7 percent in February and 0.8 percent 

in January. Higher nonagricultural prices in March more than offset lower agricultural prices. Despite the 

recent increases, U.S. export prices fell 1.4 percent from March 2023 to March 2024, the smallest 12-month 

drop since the index declined 0.8 percent for the year ended February 2023. (See table 2.)

Agricultural Exports: Agricultural export prices decreased 0.7 percent in March following a 0.7-percent 

increase the previous month. Lower prices for soybeans, corn, and wheat in March more than offset higher 

meat prices. Prices for agricultural exports declined 8.1 percent for the year ended in March. Price decreases

for soybeans, corn, and wheat over the past year led the 12-month decline in agricultural prices. 

All Exports Excluding Agriculture: The price index for nonagricultural exports rose 0.4 percent in March, 

after increasing 0.6 percent in February. Nonagricultural export prices advanced 2.0 percent for the first 

quarter of 2024. Higher prices for nonagricultural industrial supplies and materials, consumer goods, and 

capital goods in March more than offset lower prices for nonagricultural foods. In spite of the recent 

increases, nonagricultural export prices fell 0.6 percent over the past 12 months, the smallest over the year 

decline since the index last advanced on an over-the-year basis in January 2023. 

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 

materials increased 0.6 percent in March following a 1.3-percent rise the previous month. The March 

advance was led by a 3.4-percent rise in nonferrous metals prices. 

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

consumer goods prices increased 0.5 percent, after being unchanged in February. The March advance was 

the largest monthly increase since February 2023. Higher prices in March for jewelry and household and 

kitchen appliances drove the increase in consumer goods prices. Prices for export capital goods rose 0.2 

percent in March following a 0.3-percent advance the previous month. Higher prices for semiconductors and 

telecommunications equipment in March more than offset lower computer prices. The price index for 

automotive vehicles was unchanged for the second consecutive month in March. 

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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-6.0

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0.0

2.0

4.0

Mar'23 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar'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 edged down 0.1 percent for the second 

consecutive month in March. The price index for imports from China last increased on a 1-month basis in 

October 2022. The price index for imports from China declined 2.6 percent for the year ended in March. 

Import prices from Japan fell 0.7 percent in March following a 0.1-percent drop in February and a 1.1-

percent advance in January. The March decrease was the largest monthly decline since the index fell 0.8 

percent in April 2013. Despite the March drop, prices for imports from Japan rose 1.2 percent over the past 

year. In contrast, the price indexes for imports from Canada and Mexico increased in March, up 0.5 percent

and 0.6 percent, respectively. Import prices from the European Union ticked up 0.1 percent in March, after 

advancing 0.4 percent the previous month. (See table 7.)

Exports by Locality of Destination: The price index for exports to China ticked up 0.1 percent in March 

following a 0.8-percent advance in February. In spite of the recent increases, prices for exports to China 

declined 4.3 percent for the year ended in March. Export prices to Japan advanced 0.2 percent in March, 

after rising 1.3 percent the previous month. The price index for exports to Japan has not recorded a monthly 

decrease since November 2023. Despite the recent increases, prices for exports to Japan fell 4.9 percent over 

the past 12 months. Export prices to Canada advanced 0.3 percent in March, the largest 1-month increase 

since September 2023. Prices for exports to Canada fell 0.9 percent over the past year. The price index for 

exports to Mexico rose 0.2 percent in March and export prices to the European Union advanced 1.3 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 rose 0.2 

percent in March, after increasing 0.8 percent the previous month. Both higher export prices to China and 

lower import prices from China in March contributed to the advance in the index for U.S. terms of trade. 

Despite the recent increases, U.S. terms of trade with China fell 1.7 percent over the past 12 months. U.S. 

terms of trade with Japan rose 0.9 percent in March following a 1.4-percent increase in February. In spite of 

the recent advances, U.S. terms of trade with Japan fell 6.0 percent over the past year. The index for U.S. 

terms of trade with Canada decreased 0.2 percent in March, after declining 0.9 percent the previous month. 

U.S. terms of trade with Mexico fell 0.4 percent in March and, in contrast, the index for U.S. terms of trade 

with the European Union rose 1.2 percent over the same period. (See table 9.)

Import and Export Services

Imports: Import air passenger fares rose 0.3 percent in March, after being unchanged the previous month. 

Higher Asian and Latin American/Caribbean fares in March more than offset lower European fares. Import 

air passenger fares declined 1.1 percent over the past 12 months. Prices for import air freight fell 1.6 percent 

in March following a 4.7-percent drop in February and a 15.2-percent decrease in January. The March 

decline was primarily driven by a 2.5-percent drop in Asian air freight prices. Import air freight prices 

decreased 8.5 percent for the year ended in March. (See table 10.)

Exports: Export air passenger fares increased 4.0 percent in March, after falling 10.1 percent in February 

and rising 10.8 percent in January. Higher European, Latin American/Caribbean, and Asian fares all 

contributed to the March advance. The index for export air passenger fares declined 4.9 percent over the 

past year. Export air freight prices fell 1.3 percent in March, the largest monthly decrease since October 

2023. The March decline was led by a 1.8-percent drop in Asian air freight prices. Export air freight prices 

fell 4.6 percent from March 2023 to March 2024. 

 

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

16, 2024, at 8:30 a.m. (ET). 
Table 1. U.S. import price indexes and percent changes for selected categories of goods: March 2023 to March

2024

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

All commodities................................... 100.000 139.8 140.4 0.4 -0.7 0.7 0.3 0.4

All imports excluding food and fuels (Dec.

2010=100)........................................ 84.763 108.2 108.2 -0.4 0.0 0.7 0.1 0.0

All imports excluding petroleum.............. 92.487 124.0 124.0 -0.2 0.0 0.6 0.1 0.0

All imports excluding fuels (Dec.

2001=100)........................................ 91.997 127.9 128.0 0.0 0.1 0.6 0.2 0.1

Foods, feeds, & beverages................... 0 7.234 218.5 221.9 4.5 -0.2 1.5 0.3 1.6

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 5.893 245.6 250.7 7.7 0.1 1.7 -0.3 2.1

Nonagricultural foods (fish, distilled

beverages).................................. 01 1.342 153.1 152.3 -7.7 -1.5 0.4 3.1 -0.5

Industrial supplies & materials.............. 1 22.618 236.6 241.4 -1.1 -2.7 0.5 0.2 2.0

Industrial supplies & materials excluding

petroleum.................................... 15.131 197.1 197.0 -5.2 0.4 -0.1 -0.7 -0.1

Industrial supplies & materials excluding

fuels (Dec. 2001=100)..................... 14.603 220.5 221.8 -4.1 0.5 0.1 -0.5 0.6

Industrial supplies & materials, durable. . .. 9.274 213.5 215.8 -4.6 0.4 0.1 -0.5 1.1

Industrial supplies & materials nondurable

excluding petroleum....................... 5.831 178.5 175.4 -6.2 0.3 -0.1 -1.1 -1.7

Fuels & lubricants............................. 10 8.003 272.0 284.7 4.8 -8.0 1.5 1.3 4.7

Petroleum & petroleum products......... 100 7.513 292.1 309.6 7.5 -8.4 1.8 1.9 6.0

Crude petroleum........................... 10000 5.143 300.8 315.0 10.7 -10.3 0.8 3.8 4.7

Fuels, n.e.s.-coals & gas.................. 101 0.332 157.9 121.9 -40.7 -2.9 -3.6 -11.0 -22.8

Natural gas.................................. 10110 0.234 134.4 91.5 -50.3 -3.6 -4.8 -14.3 -31.9

Paper & paper base stocks.................. 11 0.531 137.6 136.4 -5.0 -0.2 -0.6 -1.3 -0.9

Materials associated with nondurable

supplies & materials....................... 12 4.810 194.4 193.9 -3.2 0.8 0.1 -0.2 -0.3

Unfinished metals related to durable

goods........................................ 14 3.368 310.5 314.3 -7.8 0.4 1.1 -1.7 1.2

Finished metals related to durable

goods........................................ 15 2.560 213.9 219.0 1.4 1.5 -1.5 -0.5 2.4

Capital goods................................... 2 28.816 93.7 93.4 -0.3 -0.1 0.4 0.2 -0.3

Nonelectrical machinery...................... 21 22.748 84.1 84.2 -0.7 -0.1 0.1 0.0 0.1

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 1.658 157.7 160.3 6.2 0.1 1.6 1.4 1.6

Automotive vehicles, parts & engines..... 3 13.634 120.1 120.3 2.4 0.0 0.8 0.1 0.2

Automotive vehicles, parts and engines, 2

digit (Dec. 2023=100)...................... 30 13.634 100.8 101.0 – – 0.8 0.0 0.2

Consumer goods, excluding

automotives.................................. 4 27.699 111.0 110.7 0.5 -0.1 1.1 0.4 -0.3

Nondurables, manufactured................. 40 13.873 128.0 128.0 2.3 0.0 2.0 0.2 0.0

Durables, manufactured...................... 41 12.773 94.6 94.4 -1.3 -0.1 0.1 0.1 -0.2

Nonmanufactured consumer goods. . . . . . .. 42 1.052 132.8 125.0 -2.3 0.3 -0.2 7.3 -5.9

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: March 2023 to March

2024

[2000=100, unless otherwise noted]

Description End Use

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

All commodities................................... 100.000 148.6 149.0 -1.4 -0.7 0.8 0.7 0.3

Agricultural commodities....................... 9.541 229.6 227.9 -8.1 -0.3 -1.1 0.7 -0.7

All exports excluding food and fuels (Dec.

2010=100)........................................ 74.726 114.7 115.3 0.3 0.3 0.1 0.3 0.5

All exports excluding fuels (June

2022=100)........................................ 83.437 99.3 99.6 -0.4 0.3 -0.1 0.4 0.3

Nonagricultural commodities.................. 90.459 142.3 142.8 -0.6 -0.7 1.0 0.6 0.4

Foods, feeds, & beverages................... 0 8.711 231.1 228.4 -8.9 0.0 -1.1 0.5 -1.2

Agricultural foods, feeds & beverages,

excluding distilled beverages............. 00 8.329 233.3 230.4 -8.8 0.0 -1.1 0.5 -1.2

Nonagricultural foods (fish, distilled

beverages).................................. 01 0.382 190.0 188.9 -12.2 0.6 0.7 0.8 -0.6

Industrial supplies & materials.............. 1 38.268 199.5 200.8 -3.2 -2.0 1.9 1.3 0.7

Industrial supplies & materials, durable. . .. 10.806 211.0 213.6 -0.3 1.1 0.0 0.2 1.2

Industrial supplies & materials,

nondurable.................................. 27.462 192.4 193.3 -4.3 -3.3 2.7 1.7 0.5

Agricultural industrial supplies &

materials..................................... 10 1.185 214.4 219.6 -3.4 -2.2 -1.2 1.9 2.4

Nonagricultural industrial supplies &

materials..................................... 37.083 199.1 200.3 -3.2 -2.0 2.0 1.3 0.6

Fuels & lubricants............................. 11 16.563 243.4 243.5 -4.6 -5.1 4.9 2.0 0.0

Nonagricultural supplies & materials

excluding fuels & building materials. . . .. 12 19.779 192.3 194.3 -2.2 0.6 -0.2 0.7 1.0

Selected building materials.................. 13 0.740 147.3 150.7 -0.1 0.3 -1.9 -0.2 2.3

Capital goods................................... 2 31.684 122.9 123.1 1.9 0.1 0.8 0.3 0.2

Nonelectrical machinery...................... 21 22.544 102.5 102.6 1.2 0.0 0.4 0.4 0.1

Transportation equipment excluding motor

vehicles (Dec. 2001=100)................. 22 5.668 220.4 220.6 7.4 0.1 3.2 0.5 0.1

Automotive vehicles, parts & engines..... 3 8.606 127.6 127.6 2.9 0.5 0.4 0.0 0.0

Vehicles-passenger (Dec. 2023=100)...... 30 8.606 100.4 100.4 – – 0.4 0.0 0.0

Consumer goods, excluding

automotives.................................. 4 12.731 117.4 118.0 -0.8 0.3 -1.2 0.0 0.5

Nondurables, manufactured................. 40 6.748 107.3 107.3 -2.5 0.2 -2.3 -0.2 0.0

Durables, manufactured...................... 41 4.827 120.1 121.9 2.5 0.4 0.3 0.1 1.5

Nonmanufactured consumer goods (Dec.

2018=100)................................... 42 1.157 127.1 126.8 -3.8 -0.1 0.0 0.0 -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

6
Table 3. U.S. import price indexes and percent changes for selected industries: March 2023 to March 2024

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Nonmanufacturing................................ 8.061 149.2 152.1 7.6 -6.7 1.0 2.8 1.9

Agriculture, forestry, fishing and

hunting........................................ 11 2.289 243.0 241.8 12.1 0.2 3.2 2.4 -0.5

Crop production............................... 111 1.921 257.1 254.7 14.2 0.2 4.0 1.5 -0.9

Animal production (Dec. 2022=100)........ 112 0.247 120.2 122.9 8.8 0.4 -2.0 11.1 2.2

Mining............................................ 21 5.772 138.9 142.9 5.9 -9.3 0.3 2.8 2.9

Oil and gas extraction........................ 211 5.535 137.3 141.3 6.6 -9.7 0.5 2.8 2.9

Mining (except oil and gas) (Dec.

2022=100)................................... 212 0.237 106.9 110.3 -8.4 -1.2 -5.3 2.7 3.2

Manufacturing..................................... 91.611 121.8 122.2 -0.3 -0.2 0.7 0.0 0.3

Manufacturing, part 1......................... 31 11.955 139.0 139.6 0.6 0.1 0.1 0.8 0.4

Food manufacturing.......................... 311 4.317 188.2 190.3 1.0 -0.1 0.2 2.0 1.1

Beverage and tobacco product

manufacturing............................... 312 1.175 141.6 142.3 2.1 0.4 -0.1 0.1 0.5

Textile mills (Dec. 2023=100)............... 313 0.323 101.0 100.7 – – 0.1 0.9 -0.3

Textile product mills (Dec. 2023=100). . . .. 314 0.900 100.2 100.1 – – 0.1 0.1 -0.1

Apparel manufacturing....................... 315 3.540 119.2 119.0 -0.1 0.1 0.3 0.1 -0.2

Manufacturing, part 2......................... 32 19.014 141.5 142.8 -0.8 -0.7 1.6 -0.4 0.9

Paper manufacturing......................... 322 1.002 120.8 120.4 -3.4 -0.2 -0.3 -1.1 -0.3

Printing and related support activities

(Dec. 2023=100)........................... 323 0.148 100.3 100.1 – – 0.5 -0.2 -0.2

Petroleum and coal products

manufacturing............................... 324 2.131 128.2 140.1 1.8 -5.2 4.1 -3.1 9.3

Chemical manufacturing..................... 325 11.218 152.0 151.8 -0.1 0.2 1.8 -0.1 -0.1

Plastics and rubber products

manufacturing............................... 326 2.555 131.3 130.7 -2.2 -0.5 -0.2 0.6 -0.5

Nonmetallic mineral product

manufacturing............................... 327 1.105 144.9 144.1 0.2 0.1 0.1 0.0 -0.6

Manufacturing, part 3......................... 33 60.642 112.5 112.6 -0.4 0.0 0.4 0.0 0.1

Primary metal manufacturing................ 331 4.569 216.6 219.7 -4.6 0.6 0.9 -1.4 1.4

Fabricated metal product manufacturing... 332 3.187 144.6 146.9 -1.6 0.4 -1.2 -0.1 1.6

Machinery manufacturing.................... 333 8.044 132.3 132.3 0.8 0.0 0.2 0.4 0.0

Computer and electronic product

manufacturing............................... 334 16.599 72.2 72.1 -1.9 0.0 0.0 0.0 -0.1

Electrical equipment, appliance, and

component manufacturing................. 335 6.403 127.3 125.4 -1.5 -0.2 0.8 0.2 -1.5

Transportation equipment manufacturing... 336 14.059 119.4 119.7 2.7 0.0 0.9 0.3 0.3

Furniture and related product

manufacturing............................... 337 1.873 128.0 127.9 -0.8 -1.1 0.6 -0.1 -0.1

Miscellaneous manufacturing............... 339 5.908 128.9 129.2 1.3 0.2 0.5 0.1 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

7
Table 4. U.S. export price indexes and percent changes for selected industries: March 2023 to March 2024

[December 2005=100, unless otherwise noted]

Description NAICS

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Nonmanufacturing................................ 14.847 177.2 173.5 -6.5 -1.6 3.3 1.1 -2.1

Agriculture, forestry, fishing and

hunting........................................ 11 4.593 188.5 184.3 -14.9 0.5 -2.3 1.0 -2.2

Crop production............................... 111 4.290 198.2 193.3 -16.0 0.6 -2.6 0.8 -2.5

Mining............................................ 21 10.253 112.6 110.3 -2.0 -2.8 6.0 1.2 -2.0

Oil and gas extraction (Dec. 2021=100). .. 211 8.934 100.4 98.3 0.4 -2.9 6.7 1.5 -2.1

Mining (except oil and gas).................. 212 1.320 134.8 133.3 -14.8 -2.0 2.2 -1.6 -1.1

Manufacturing..................................... 83.510 133.8 134.6 -0.4 -0.6 0.2 0.5 0.6

Manufacturing, part 1......................... 31 6.421 170.7 171.6 -2.2 -0.3 -0.2 -0.2 0.5

Food manufacturing.......................... 311 4.621 200.9 202.4 -2.0 -0.5 -0.1 -0.3 0.7

Beverage and tobacco product

manufacturing............................... 312 0.532 141.8 140.2 -6.2 0.4 -0.6 -0.5 -1.1

Manufacturing, part 2......................... 32 25.525 133.8 135.2 -4.2 -2.3 -0.3 1.4 1.0

Wood product manufacturing (Dec.

2017=100)................................... 321 0.423 118.0 123.0 4.2 0.4 0.8 -0.3 4.2

Petroleum and coal products

manufacturing............................... 324 5.978 146.2 150.4 -8.6 -9.2 2.3 4.4 2.9

Chemical manufacturing..................... 325 14.482 130.7 131.4 -2.8 -0.2 -1.4 0.7 0.5

Plastics and rubber products

manufacturing............................... 326 2.255 135.5 134.7 0.9 0.1 0.5 0.4 -0.6

Nonmetallic mineral product

manufacturing............................... 327 0.733 131.9 132.1 1.0 0.1 -0.5 -0.2 0.2

Manufacturing, part 3......................... 33 51.564 130.1 130.7 1.8 0.2 0.5 0.2 0.5

Primary metal manufacturing................ 331 4.297 196.0 202.3 -0.6 0.9 -0.5 -1.0 3.2

Machinery manufacturing.................... 333 9.497 151.4 151.5 2.2 0.1 0.3 0.3 0.1

Computer and electronic product

manufacturing............................... 334 12.569 83.2 83.4 -0.2 0.0 0.1 0.2 0.2

Transportation equipment manufacturing... 336 13.338 149.3 149.3 4.8 0.3 1.6 0.2 0.0

Furniture and related product

manufacturing (Dec. 2023=100).......... 337 0.352 101.8 101.8 – – 1.8 0.0 0.0

Miscellaneous manufacturing............... 339 5.038 140.9 142.0 3.0 0.7 0.9 0.3 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: March 2023 to March

2024

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Live animals; animal products................. I 1.481 237.4 239.5 1.0 -0.5 1.7 5.1 0.9

Meat and edible meat offal..................... 02 0.426 338.4 351.8 17.0 1.4 2.2 4.0 4.0

Fish and crustaceans, molluscs and other

aquatic invertebrates......................... 03 0.705 149.0 147.9 -10.3 -2.6 3.2 6.4 -0.7

Vegetable products............................... II 2.225 266.8 263.6 5.1 0.2 3.3 -1.4 -1.2

Edible vegetables, roots, and tubers.......... 07 0.509 506.1 553.9 18.5 -0.5 9.4 -14.5 9.4

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.790 132.6 130.1 4.1 -0.6 6.1 -5.4 -1.9

Coffee, tea, mate and spices.................. 09 0.376 294.4 297.2 -2.8 3.6 -5.6 1.3 1.0

Animal or vegetable fats and oils (Dec.

2009=100)........................................ III 0.442 145.7 150.0 2.4 0.8 -2.4 0.5 3.0

Animal or vegetable fats and oils and their

cleavage products; prepared (Dec.

2023=100)..................................... 15 0.442 98.1 101.0 – – -2.4 0.5 3.0

Prepared foodstuffs, beverages, and

tobacco........................................... IV 3.497 200.9 203.4 4.3 0.3 -0.2 1.3 1.2

Sugars and sugar confectionary (Dec.

2021=100)..................................... 17 0.243 126.2 128.4 13.9 0.7 2.6 1.1 1.7

Cocoa and cocoa preparations (Dec.

2009=100)..................................... 18 0.313 161.5 182.5 57.7 3.6 4.4 14.1 13.0

Preparations of cereals, flour, starch or milk;

bakers’ wares (Dec. 2023=100)............. 19 0.495 100.0 99.9 – – 0.1 -0.1 -0.1

Miscellaneous edible preparations (Dec.

2022=100)..................................... 21 0.420 99.2 99.1 -1.4 0.6 -0.8 -0.4 -0.1

Beverages, spirits, and vinegar................ 22 1.113 154.4 155.2 1.4 0.3 -0.4 0.2 0.5

Mineral products.................................. V 8.024 278.4 290.8 4.2 -7.9 1.4 1.1 4.5

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 7.729 271.9 284.2 4.8 -8.2 1.7 1.1 4.5

Products of the chemical or allied

industries........................................ VI 10.880 174.1 174.3 0.5 0.1 1.6 0.2 0.1

Organic chemicals............................... 29 2.272 137.8 138.5 -5.4 -0.7 -3.6 0.2 0.5

Pharmaceutical products....................... 30 5.724 155.4 155.6 5.2 0.1 4.6 0.5 0.1

Fertilizers (Dec. 2022=100).................... 31 0.221 62.2 63.7 -14.7 2.4 0.3 -1.4 2.4

Tanning extracts; dye, pigments, varnish,

paints & putty (Dec. 2022=100)............. 32 0.199 100.9 100.8 -1.3 0.2 0.1 -0.5 -0.1

Miscellaneous chemical products............. 38 0.935 116.7 116.4 -4.4 -0.3 0.2 -0.1 -0.3

Plastics and articles thereof; rubber and

articles thereof.................................. VII 3.772 153.7 153.3 -2.9 -0.4 0.1 0.1 -0.3

Plastics and articles thereof.................... 39 2.518 151.0 150.3 -5.2 -0.8 0.3 0.1 -0.5

Rubber and articles thereof.................... 40 1.254 162.1 162.2 1.4 0.3 -0.4 0.2 0.1

Printed matter (Dec. 2023=100)............... 49 0.169 100.0 99.8 – – 0.0 0.0 -0.2

Textile and textile articles....................... XI 4.560 120.7 120.6 -0.1 0.1 0.2 0.1 -0.1

Articles of apparel and clothing accessories,

knitted or crocheted (Dec. 2023=100). . . .. 61 1.955 100.4 100.3 – – 0.4 0.0 -0.1

Articles of apparel and clothing accessories,

not knitted or crocheted...................... 62 1.420 126.8 126.8 -0.5 0.0 0.1 0.1 0.0

Made-up or worn textile articles (Dec.

2023=100)..................................... 63 0.622 99.6 99.6 – – -0.4 0.0 0.0

Headgear, umbrellas, artificial flowers,

etc................................................. XII 1.458 126.7 126.8 0.6 -0.2 -0.1 0.0 0.1

Footwear and parts of such articles........... 64 1.192 123.7 123.8 0.9 -0.3 0.0 0.0 0.1

See footnotes at end of table.

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

2024 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.947 137.6 136.7 0.2 0.0 0.6 0.0 -0.7

Articles of stone, plaster, cement, asbestos,

or mica (Dec. 2020=100).................... 68 0.329 101.1 100.2 -2.3 -0.2 -0.2 0.0 -0.9

Glass and glassware (Dec. 2021=100)....... 70 0.343 109.6 109.5 5.0 0.2 1.7 0.0 -0.1

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 3.029 223.8 227.7 -0.2 0.7 0.2 -0.8 1.7

Pearls, precious stones, precious metals

jewelry, coin (Dec. 2023=100).............. 71 3.029 99.4 101.2 – – 0.2 -0.8 1.8

Base metals and articles of base metals. . .. XV 5.822 226.1 227.9 -4.9 0.4 0.0 -0.5 0.8

Articles of iron or steel.......................... 73 1.760 193.3 191.3 -7.7 0.0 -0.2 -0.4 -1.0

Copper and articles thereof.................... 74 0.496 377.7 389.1 -1.3 2.6 1.6 -1.0 3.0

Aluminum and articles thereof................. 76 1.039 181.5 191.3 -1.0 1.1 -2.1 -1.0 5.4

Tools, implements, cutlery, spoons and

forks, of base metal; parts thereof.......... 82 0.419 133.7 133.1 0.7 0.2 0.6 0.5 -0.4

Miscellaneous articles of base metal. . . . . . . .. 83 0.516 142.7 142.6 -5.4 -0.1 -0.5 -0.1 -0.1

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 30.707 82.5 82.2 -0.8 -0.1 0.4 0.1 -0.4

Machinery and mechanical appliances;

parts thereof................................... 84 15.409 89.9 90.0 0.0 -0.1 0.3 0.4 0.1

Electrical machinery and equip, sound and

TV recorders & reproducers, parts......... 85 15.298 75.6 75.0 -1.7 -0.1 0.3 0.0 -0.8

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 11.833 123.5 123.6 1.8 -0.1 0.7 0.1 0.1

Motor vehicles and their parts................. 87 11.070 122.6 122.8 1.9 0.0 0.7 0.0 0.2

Aircraft, spacecraft, and parts thereof (Dec.

2020=100)..................................... 88 0.621 107.0 107.6 -0.6 0.0 0.1 -0.3 0.6

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 4.193 110.3 110.5 3.1 0.5 1.1 0.3 0.2

Optical, photographic, measuring and

medical instruments.......................... 90 3.880 105.6 106.0 2.9 0.5 0.9 0.3 0.4

Miscellaneous manufactured articles......... XX 4.588 120.2 120.4 0.2 -0.2 0.5 0.0 0.2

Furniture & stuffed furnishings; lamps &

lighting fittings, nesoi; prefab bldgs......... 94 2.549 126.9 126.8 -0.6 -0.3 0.5 -0.1 -0.1

Toys, games and sports equipment; parts

and accessories thereof...................... 95 1.727 106.9 107.4 0.8 0.0 0.5 0.0 0.5

Miscellaneous manufactured articles. . . . . . . .. 96 0.313 151.4 152.6 4.0 0.0 2.6 0.0 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

10
Table 6. U.S. export price indexes and percent changes for selected categories of goods: March 2023 to March

2024

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Live animals; animal products................. I 1.915 259.5 264.0 -0.3 -0.2 0.2 0.2 1.7

Meat & edible meat offal (Dec. 2006=100)... 02 1.230 223.6 229.1 8.3 0.1 1.5 -0.1 2.5

Vegetable products............................... II 4.177 244.8 236.2 -17.8 0.9 -2.6 0.4 -3.5

Edible fruit and nuts; peel of citrus fruit or

melons.......................................... 08 0.872 152.7 150.9 9.5 4.0 -1.6 5.7 -1.2

Cereals............................................ 10 1.176 240.0 227.7 -29.1 -2.0 -2.9 1.0 -5.1

Oilseeds and misc. grains, seeds, fruits,

plants, straw and fodder..................... 12 1.693 249.7 238.3 -23.4 -0.6 -2.3 -3.8 -4.6

Prepared foodstuffs, beverages, and

tobacco........................................... IV 2.960 186.7 186.5 -0.9 0.6 -0.1 -0.5 -0.1

Preparations of cereals, flour, starch or milk;

bakers’ wares (Dec. 2023=100)............. 19 0.296 100.3 100.1 – – 0.0 0.3 -0.2

Miscellaneous edible preparations (Dec.

2017=100)..................................... 21 0.642 121.6 124.1 5.9 2.7 1.7 0.3 2.1

Residues and waste from the food

industries; prepared animal feed............ 23 0.692 289.5 284.0 -10.5 0.6 -2.2 -2.0 -1.9

Mineral products.................................. V 16.272 292.3 291.6 -4.5 -5.3 4.7 2.3 -0.2

Ores, slag and ash (Dec. 2012=100)......... 26 0.393 117.5 116.4 -18.7 -1.1 -1.7 -1.4 -0.9

Mineral fuels, oils and residuals, bituminous

substances and mineral waxes............. 27 15.685 280.8 280.1 -4.2 -5.6 4.9 2.4 -0.2

Products of the chemical or allied

industries........................................ VI 12.391 157.2 158.7 -3.2 -0.3 -1.6 0.6 1.0

Pharmaceutical products....................... 30 4.348 103.6 103.5 -3.4 0.1 -3.9 0.1 -0.1

Essential oils and resinoids; perfumery

cosmetic or toilet preparations.............. 33 0.796 145.0 144.9 -1.6 -0.3 0.9 -2.9 -0.1

Miscellaneous chemical products............. 38 2.265 191.0 190.8 0.2 0.1 -1.0 0.4 -0.1

Rubber and articles thereof.................... 40 0.916 191.3 189.8 12.2 0.4 0.6 9.7 -0.8

Wood, wood charcoal, cork, straw, baskets

and wickerwork (Dec. 2014=100)............ IX 0.466 108.4 113.7 1.0 0.6 1.0 0.1 4.9

Wood and articles of wood; wood charcoal

(Dec. 2023=100).............................. 44 0.466 101.1 106.0 – – 1.0 0.1 4.8

Woodpulp and recovered paper (Dec.

2019=100)..................................... 47 0.531 159.9 164.6 -7.2 4.4 1.1 0.5 2.9

Cotton, including yarns and woven fabrics

thereof.......................................... 52 0.610 161.2 174.1 5.8 -2.9 -1.9 5.0 8.0

Stone, plaster, cement, asbestos,

ceramics, glass etc............................ XIII 0.746 153.7 154.0 5.6 0.1 1.3 -0.2 0.2

Glass and glassware (Dec. 2019=100)....... 70 0.352 114.3 114.7 4.1 0.3 -0.5 0.0 0.3

Pearls, stones, precious metals, imitation

jewelry, and coins.............................. XIV 4.756 310.9 322.2 2.5 1.2 0.6 -1.1 3.6

Pearls, precious stones, precious metals;

jewelry, coin (Dec. 2023=100).............. 71 4.756 99.6 103.2 – – 0.6 -1.0 3.6

Base metals and articles of base metals. . .. XV 4.442 209.7 209.5 -2.4 1.9 -0.2 0.6 -0.1

Copper and articles thereof.................... 74 0.538 260.1 262.8 -1.8 2.6 0.7 0.8 1.0

Aluminum and articles thereof................. 76 0.706 146.2 147.3 -1.9 0.7 0.7 0.5 0.8

Miscellaneous articles of base metal (Dec.

2022=100)..................................... 83 0.336 106.0 105.8 4.3 -0.1 -0.6 1.8 -0.2

Machinery, electrical equipment, TV image

and sound recorders, parts, etc............. XVI 26.388 108.0 108.2 1.9 0.0 0.9 0.5 0.2

Machinery and mechanical appliances;

parts thereof................................... 84 15.688 133.5 133.2 3.5 -0.1 1.5 0.5 -0.2

See footnotes at end of table.

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

2024 — Continued

[2000=100, unless otherwise noted]

Description

Harmonized

system

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Electrical machinery and equipment and

parts and accessories thereof............... 85 10.700 81.6 82.2 -0.2 0.0 0.1 0.4 0.7

Vehicles, aircraft, vessels and associated

transport equipment........................... XVII 9.721 154.6 154.6 3.0 0.5 0.3 0.1 0.0

Motor vehicles and their parts................. 87 7.259 129.1 129.1 3.1 0.5 0.4 0.0 0.0

Optical, photo, measuring, medical &

musical instruments; & timepieces. . . . . . .. XVIII 5.774 119.6 119.7 2.7 0.3 0.7 0.0 0.1

Optical, photographic, measuring and

medical instruments (Dec. 2023=100). . . .. 90 5.723 100.7 100.7 – – 0.7 0.0 0.0

Miscellaneous manufactured articles......... XX 1.160 135.6 135.6 -0.4 0.1 0.7 0.1 0.0

Furniture; stuffed furnishings; lamps and

lighting fittings nesoi.......................... 94 0.575 149.7 149.7 0.7 0.0 1.3 0.0 0.0

Toys, games and sports equipment; parts

and accessories thereof...................... 95 0.448 118.8 118.6 0.7 0.6 0.1 0.1 -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

12
Table 7. U.S. import price indexes and percent changes by locality of origin: March 2023 to March 2024

[2000=100, unless otherwise noted]

Description

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Industrialized Countries2

.................... 100.000 145.0 145.5 1.0 -1.2 1.0 0.6 0.3

Nonmanufacturing........................... 10.202 237.1 241.6 3.3 -11.1 1.1 4.0 1.9

Manufacturing................................ 89.396 137.4 137.7 1.0 0.1 1.0 0.2 0.2

Canada.......................................... 100.000 168.0 168.9 -2.0 -3.9 0.5 1.2 0.5

Nonmanufacturing........................... 30.642 231.4 235.7 2.7 -11.8 1.2 4.0 1.9

Manufacturing................................ 68.454 154.5 154.7 -3.7 -0.3 0.1 0.0 0.1

European Union............................... 100.000 158.3 158.5 2.5 0.4 1.3 0.4 0.1

Manufacturing................................ 99.321 153.9 154.1 2.5 0.4 1.3 0.5 0.1

France (Dec. 2003=100)...................... 100.000 157.6 157.6 7.8 0.3 4.4 0.1 0.0

Germany (Dec. 2003=100)................... 100.000 124.2 124.4 -0.5 0.4 -0.1 0.5 0.2

United Kingdom (Dec. 2003=100).......... 100.000 137.9 138.5 3.1 -0.1 0.4 0.6 0.4

Latin America3

................................. 100.000 172.8 174.2 3.1 -0.2 1.1 0.6 0.8

Nonmanufacturing........................... 13.965 344.3 347.7 13.1 -2.9 1.8 2.4 1.0

Manufacturing................................ 85.779 138.8 139.9 1.6 0.2 0.9 0.4 0.8

Mexico (Dec. 2003=100)...................... 100.000 146.8 147.7 4.4 -0.3 1.5 0.3 0.6

Nonmanufacturing (Dec. 2008=100). . . . .. 9.027 185.8 190.4 28.5 -4.2 8.4 2.4 2.5

Manufacturing (Dec. 2008=100)........... 90.723 99.6 100.1 2.4 0.1 0.8 0.1 0.5

Pacific Rim (Dec. 2003=100)4............... 100.000 102.1 101.8 -1.7 -0.2 0.0 -0.1 -0.3

China (Dec. 2003=100)....................... 100.000 100.5 100.4 -2.6 -0.1 -0.4 -0.1 -0.1

Japan............................................ 100.000 102.5 101.8 1.2 -0.1 1.1 -0.1 -0.7

Taiwan (Dec. 2018=100)...................... 100.000 108.5 108.6 -2.3 0.0 -0.5 0.0 0.1

Asian NICs5

..................................... 100.000 94.2 94.3 -2.5 -0.4 -0.3 -0.2 0.1

ASEAN (Dec. 2003=100)6

.................... 100.000 100.0 100.0 -3.2 -0.6 0.0 -0.1 0.0

Asia Near East (Dec. 2003=100)7

........... 100.000 212.1 216.1 -0.1 -3.3 0.1 1.6 1.9

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: March 2023 to March 2024

[December 2017=100, unless otherwise noted]

Description

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Industrialized Countries2

.................... 100.000 121.8 122.5 1.4 0.1 1.2 0.7 0.6

Nonmanufacturing........................... 15.510 148.5 150.4 4.2 -1.4 5.1 3.8 1.3

Manufacturing................................ 82.969 118.6 119.0 0.6 0.2 0.5 0.3 0.3

Canada.......................................... 100.000 127.7 128.1 -0.9 0.2 -0.5 0.2 0.3

Nonmanufacturing (Dec. 2020=100). . . . .. 7.456 137.2 138.1 3.1 -0.1 -2.1 1.6 0.7

Manufacturing (Dec. 2020=100)........... 90.818 119.2 119.4 -1.6 0.2 -0.4 0.2 0.2

European Union............................... 100.000 120.4 122.0 3.9 -0.3 1.5 1.6 1.3

Nonmanufacturing........................... 22.681 141.4 147.5 6.0 -2.3 1.3 3.5 4.3

Manufacturing................................ 75.787 116.4 116.9 3.1 -0.1 1.6 1.1 0.4

Germany........................................ 100.000 122.5 123.6 7.0 0.2 3.8 0.3 0.9

Latin America3

................................. 100.000 123.4 123.8 -2.0 -2.0 1.2 1.1 0.3

Nonmanufacturing........................... 7.603 144.1 133.5 -11.5 -0.5 2.6 -0.4 -7.4

Manufacturing................................ 91.835 122.0 123.2 -1.2 -2.2 1.2 1.2 1.0

Mexico........................................... 100.000 122.6 122.9 -2.1 -1.5 0.8 0.7 0.2

Nonmanufacturing........................... 6.080 115.6 102.5 -21.9 -2.0 1.1 -4.8 -11.3

Manufacturing................................ 93.085 124.0 125.2 -0.8 -1.5 0.7 1.1 1.0

Pacific Rim4.................................... 100.000 114.5 115.3 -0.7 -0.2 1.0 1.0 0.7

Nonmanufacturing........................... 20.832 121.6 123.2 -5.2 -1.0 3.1 2.7 1.3

Manufacturing................................ 77.995 114.4 115.1 0.7 0.0 0.4 0.5 0.6

China............................................ 100.000 107.4 107.5 -4.3 0.0 -1.4 0.8 0.1

Nonmanufacturing........................... 24.072 102.7 101.7 -14.1 0.0 -2.9 -1.1 -1.0

Manufacturing................................ 74.456 111.4 111.8 -0.4 -0.1 -0.9 1.4 0.4

Japan............................................ 100.000 111.4 111.6 -4.9 0.2 0.9 1.3 0.2

Nonmanufacturing........................... 23.223 133.5 133.4 -6.3 2.5 7.2 5.4 -0.1

Manufacturing................................ 75.625 106.1 106.3 -3.7 -0.7 -0.8 0.2 0.2

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: March 2023 to March 20241

[December 2017=100, unless otherwise noted]

Description

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Industrialized Countries2

............................ 102.8 103.1 0.4 1.3 0.2 0.1 0.3

Canada.................................................. 99.9 99.7 1.1 4.2 -1.0 -0.9 -0.2

European Union...................................... 102.4 103.6 1.4 -0.7 0.2 1.2 1.2

Germany................................................ 113.5 114.4 7.5 -0.3 3.9 -0.2 0.8

Latin America3

........................................ 106.3 105.8 -4.9 -1.9 0.2 0.5 -0.5

Mexico.................................................. 107.7 107.3 -6.3 -1.1 -0.6 0.3 -0.4

Pacific Rim4............................................ 110.4 111.4 1.0 0.0 1.0 1.1 0.9

China.................................................... 107.0 107.2 -1.7 0.1 -0.9 0.8 0.2

Japan.................................................... 103.8 104.7 -6.0 0.3 -0.2 1.4 0.9

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: March

2023 to March 2024

[2000=100, unless otherwise noted]

Description

Relative

importance

Feb.

20241

Index Percent change

Feb.

2024

Mar.

2024

Annual Monthly

Mar.

2023 to

Mar.

2024

Nov.

2023 to

Dec.

2023

Dec.

2023 to

Jan.

2024

Jan.

2024 to

Feb.

2024

Feb.

2024 to

Mar.

2024

Air Freight

Import Air Freight.................................... 100.000 216.6 213.1 -8.5 12.0 -15.2 -4.7 -1.6

Europe (Dec. 2003=100).......................... 24.864 164.5 162.5 -36.9 2.1 -13.4 4.0 -1.2

Asia.................................................. 74.241 220.2 214.8 5.7 15.7 -17.2 -6.5 -2.5

Export Air Freight................................... 100.000 182.9 180.6 -4.6 -0.3 2.5 1.3 -1.3

Europe (Dec. 2006=100).......................... 26.096 130.4 130.1 -12.8 -1.3 -0.2 0.2 -0.2

Asia (Dec. 2011=100).............................. 52.093 153.7 151.0 1.8 1.1 2.8 2.3 -1.8

Inbound Air Freight................................. 100.000 164.2 166.1 -3.3 5.5 -8.9 -4.3 1.2

Europe (Dec. 2003=100).......................... 27.177 137.3 139.9 -21.8 2.6 -10.9 4.6 1.9

Asia.................................................. 60.447 158.4 157.2 7.9 8.0 -11.0 -5.7 -0.8

Outbound Air Freight............................... 100.000 180.4 178.6 -8.8 -1.1 1.8 1.2 -1.0

Europe (Dec. 2003=100).......................... 32.825 163.7 163.9 -13.4 -0.9 0.1 0.1 0.1

Asia.................................................. 47.212 208.6 204.7 -5.1 -0.8 2.9 2.6 -1.9

Air Passenger Fares

Import Air Passenger Fares....................... 100.000 178.0 178.6 -1.1 6.9 -6.2 0.0 0.3

Europe............................................... 47.806 197.7 194.7 0.5 1.6 1.2 1.3 -1.5

Asia.................................................. 11.407 157.9 169.3 0.8 11.4 -18.2 -2.5 7.2

Latin America/Caribbean.......................... 9.678 145.6 156.2 -12.0 9.2 -20.9 6.7 7.3

Export Air Passenger Fares....................... 100.000 174.3 181.2 -4.9 -3.4 10.8 -10.1 4.0

Europe............................................... 36.068 204.1 213.7 -0.5 -5.1 7.0 -4.4 4.7

Asia.................................................. 11.950 179.2 187.0 4.1 -3.8 15.4 -18.8 4.4

Latin America/Caribbean.......................... 32.117 173.4 179.0 -12.0 -4.5 17.3 -15.7 3.2

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

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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 

telecommunications relay services.