U.S. Import and Export Price Indexes News Release

Transmission of material in this release is embargoed until					USDL-24-0066
8:30 a.m. (ET) Wednesday, January 17, 2024

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


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

U.S. import prices were unchanged in December, after declining 0.5 percent in November, the U.S. Bureau 
of Labor Statistics reported today. Import fuel prices decreased 0.3 percent in December and nonfuel prices 
were unchanged. Prices for U.S. exports fell 0.9 percent in December following a 0.9-percent decline the 
previous month.

Imports 

The price index for U.S. imports was unchanged in December, after declining in each of the previous 2 
months. Prices for U.S. imports fell 1.6 percent for the year ended in December. U.S. import prices have not 
risen on a 12-month basis since January 2023. (See table 1.)

Fuel Imports: Prices for import fuel declined 0.3 percent in December following decreases of 6.4 percent in 
November and 3.9 percent in October. Lower petroleum prices in December more than offset higher natural 
gas prices. Import fuel prices fell 9.4 percent from December 2022 to December 2023. The price index for 
import petroleum decreased 0.3 percent in December, after declining 7.7 percent in November and 4.1 
percent in October. Import petroleum prices fell 4.0 percent over the past 12 months. In contrast, prices for 
import natural gas rose 0.3 percent in December following a 35.7-percent increase in November. Despite the 
recent increases, natural gas prices fell 61.9 percent over the past year, the largest 12-month drop since the 
index decreased 70.7 percent for the year ended June 2023. 

All Imports Excluding Fuel: Nonfuel import prices were unchanged in December, after ticking up 0.1 
percent in November and declining 0.1 percent in October. Higher prices in December for nonfuel industrial 
supplies and materials and automotive vehicles were offset by lower prices for capital goods and foods, 
feeds, and beverages. The price index for nonfuel imports declined 0.8 percent for the year ended in 
December. 

Foods, Feeds, and Beverages: Prices for import foods, feeds, and beverages edged down 0.1 percent in 
December following a 1.0-percent advance the previous month. The December drop was driven by a 2.4-
percent decrease in fish and shellfish prices. 

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices rose 0.4 percent 
in December, after increasing 0.2 percent in November. The December advance was the largest monthly rise 
since the index increased 1.2 percent in December 2022 and was led by higher metals prices. 

Finished Goods: Prices for the major finished goods import categories were mixed in December. Capital 
goods prices edged down 0.1 percent for the third consecutive month in December. Lower prices for 
semiconductors and computer accessories, peripherals, and parts led the December drop in capital goods 
prices. In contrast, prices for import automotive vehicles ticked up 0.1 percent in December, after declining 
0.1 percent the previous month. The advance was driven by higher prices for automotive tires and tubes. 
Import consumer goods prices were unchanged in December for the fifth consecutive month. 

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

Month	IMPORTS			EXPORTS
	All imports	Fuel imports	Nonfuel imports	All exports	Agri- cultural exports	Non- agricultural exports
2022
December	0.1	-2.3	0.4	-3.0	-2.4	-3.1
2023
January	-0.4	-4.8	0.2	0.2	-0.8	0.3
February	-0.2	-5.6	0.4	0.4	0.8	0.3
March	-0.8	-4.4	-0.5	-0.4	-1.8	-0.2
April	0.3	4.6	-0.1	-0.1	0.4	-0.1
May	-0.4	-5.0	0.0	-2.1	-2.3	-2.1
June	-0.2	1.1	-0.3	-0.6	-1.4	-0.5
July	0.0	1.2	-0.1	0.3	0.5	0.4
August	0.6	8.8	-0.2	1.2	-1.9	1.6
September	0.5	(r)6.4	-0.2	0.5	-1.1	(r)0.7
October	-0.6	(r)-3.9	(r)-0.1	-0.9	-1.0	(r)-0.9
November	(r)-0.5	(r)-6.4	(r)0.1	-0.9	(r)0.1	-1.0
December	0.0	-0.3	0.0	-0.9	-0.6	-0.9
Dec. 2021 to 2022	3.2	15.9	1.9	4.6	9.3	3.9
Dec. 2022 to 2023	-1.6	-9.4	-0.8	-3.2	-8.9	-2.4
Footnotes (r) Revised

Exports 

The price index for U.S. exports decreased 0.9 percent for the third consecutive month in December. Those 
were the first 1-month declines since June 2023. Lower prices for both agricultural and nonagricultural 
exports contributed to the December drop. U.S. export prices fell 3.2 percent over the past year. Despite the 
recent declines, the December decrease was the smallest 12-month drop since February 2023. (See table 2.)

Agricultural Exports: Export agricultural prices declined 0.6 percent in December following a 0.1-percent 
advance in November. Lower prices in December for soybeans and other oilseeds, corn, meat, and nuts 
more than offset higher fruit prices. Prices for agricultural exports decreased 8.9 percent for the year ended 
in December. The 12-month drop was largely driven by lower prices for corn, soybeans, wheat, and 
vegetables over the past year. 

All Exports Excluding Agriculture: Prices for nonagricultural exports declined 0.9 percent in December 
following decreases of 1.0 percent in November and 0.9 percent in October. Lower prices in December for 
nonagricultural industrial supplies and materials and nonagricultural foods more than offset higher prices for 
consumer goods and automotive vehicles. The price index for nonagricultural exports fell 2.4 percent from 
December 2022 to December 2023. 

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices 
declined 2.3 percent for the second consecutive month in December. The December and November drops 
were driven by lower fuel prices. The 2.3-percent declines were the largest 1-month drops since a 5.0-
percent decrease in May. 

Finished Goods: Prices for the major finished goods export categories were mostly up in December. 
Consumer goods prices rose 0.3 percent following a 0.2-percent drop in November. Higher prices for coins, 
gems, jewelry, and collectables in December led the advance in consumer goods prices. The price index for 
automotive vehicles advanced 0.2 percent in December, after a 0.1-percent decline the previous month. The 
increase was driven by a 0.6-percent rise in passenger car prices. Prices for export capital goods were 
unchanged in December following a 0.1-percent decrease in November.

More information for the major import and export price indexes can be found at 
www.bls.gov/web/ximpim/largest.htm.

Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Import prices from China edged down 0.1 percent in December, after 
declining 0.2 percent the previous month. Prices for imports from China last increased on a monthly basis in 
October 2022. Prices for imports from China decreased 3.0 percent for the year ended in December. The 
price index for imports from Japan also fell 0.1 percent in December following 0.1-percent increases in each 
of the previous 3 months. The December drop was the first monthly decrease for import prices from Japan 
since May 2023. Prices for imports from Japan advanced 0.4 percent over the past year. The price index for 
imports from Canada fell 1.3 percent in December, after declining 2.8 percent in November and 1.3 percent 
in October. The price index for imports from Canada decreased 6.0 percent from December 2022 to 
December 2023. In contrast, prices for imports from the European Union and Mexico advanced in 
December, rising 0.3 percent and 0.1 percent, respectively. (See table 7.)

Exports by Locality of Destination: Prices for exports to China decreased 0.7 percent in December 
following a 1.0-percent drop the previous month. The price index for exports to China declined 3.1 percent 
for the year ended in December. Export prices to Japan fell 1.7 percent in December, after decreasing 1.8 
percent in November. Prices for exports to Japan declined 9.5 percent over the past 12 months. The price 
index for exports to Canada was unchanged in December following a 0.5-percent drop in November. Export 
prices to Canada fell 1.0 percent over the past year. Prices for exports to the European Union decreased 0.3 
percent in December and the price index for exports to Mexico declined 1.5 percent over the same period. 
(See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on country, region, or grouping and measure 
the change in the purchasing power of exports relative to imports. U.S. terms of trade with China fell 0.6 
percent in December, after declining 0.8 percent in November and 0.4 percent in October. Lower export 
prices to China in December more than offset lower import prices from China. The index for U.S. terms of 
trade with China declined 0.2 percent over the past 12 months. U.S. terms of trade with Japan fell 1.7 
percent in December following a 1.9-percent decrease the previous month. The index for U.S. terms of trade 
with Japan declined 9.9 percent from December 2022 to December 2023. In contrast, U.S. terms of trade 
with Canada rose 1.3 percent in December, after advancing 2.4 percent in November. The indexes for U.S. 
terms of trade with the European Union and Mexico fell 0.6 percent and 1.5 percent, respectively, in 
December. (See table 9.)

Import and Export Services

Imports: Import air passenger fares rose 6.9 percent in December, after declining 0.4 percent in November. 
Higher Latin American/Caribbean, European, and Asian fares all contributed to the December advance. 
Despite the increase, import air passenger fares declined 4.2 percent over the past year. Import air freight 
prices rose 13.3 percent in December following a 4.5-percent advance in November. The December increase 
was the largest 1-month advance since the index rose 13.9 percent in November 2021. In spite of the 
December increase, import air freight prices fell 4.6 percent over the past 12 months. (See table 10.)

Exports: The index for export air passenger fares decreased 3.4 percent in December, after increasing 1.3 
percent the previous month. Lower Latin American/Caribbean, European, and Asian fares all contributed to 
the December drop. Export air passenger fares declined 5.3 percent for the year ended in December. Export 
air freight prices rose 0.4 percent in December following a 0.5-percent decline in November. Higher prices 
for export air freight to Asia and Europe contributed to the advance. Prices for export air freight decreased 
12.9 percent from December 2022 to December 2023.

U.S. Import and Export Price Index data for January 2024 are scheduled for release on Thursday, 
February 15, 2024, at 8:30 a.m. (ET).

Table 1. U.S. import price indexes and percent changes for selected categories of goods: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	End Use	Relative import- ance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
All commodities		100.000	139.5	139.5	-1.6	0.5	-0.6	-0.5	0.0
All imports excluding food and fuels (Dec. 2010=100)		83.462	107.4	107.5	-1.0	-0.2	-0.1	0.0	0.1
All imports excluding petroleum		91.322	123.2	123.2	-1.5	-0.2	-0.2	0.2	0.0
All imports excluding fuels (Dec. 2001=100)		90.713	126.9	126.9	-0.8	-0.2	-0.1	0.1	0.0
Foods, feeds, & beverages	0	7.250	215.0	214.7	2.7	-0.3	-0.5	1.0	-0.1
Agricultural foods, feeds & beverages, excluding distilled beverages	00	5.895	241.9	242.4	5.3	0.0	-0.2	1.7	0.2
Nonagricultural foods (fish, distilled beverages)	01	1.355	150.1	147.6	-7.6	-1.3	-1.7	-2.1	-1.7
Industrial supplies & materials	1	24.477	241.3	241.6	-7.4	2.0	-2.0	-2.4	0.1
Industrial supplies & materials excluding petroleum		15.923	197.8	198.6	-9.6	-0.9	-0.7	0.9	0.4
Industrial supplies & materials excluding fuels (Dec. 2001=100)		15.203	220.0	220.9	-6.1	-0.8	-0.7	0.2	0.4
Industrial supplies & materials, durable		9.565	213.6	214.5	-5.3	-0.8	-1.2	0.4	0.4
Industrial supplies & materials nondurable excluding petroleum		6.234	179.9	180.5	-15.5	-1.1	0.1	1.7	0.3
Fuels & lubricants	10	9.287	287.4	286.5	-9.4	6.4	-3.9	-6.4	-0.3
Petroleum & petroleum products	100	8.678	306.6	305.6	-4.0	7.0	-4.1	-7.7	-0.3
Crude petroleum	10000	5.566	319.4	306.4	2.5	8.4	-2.0	-9.6	-4.1
Fuels, n.e.s.-coals & gas	101	0.474	195.4	195.6	-56.3	-5.5	-1.8	24.9	0.1
Natural gas	10110	0.371	177.8	178.4	-61.9	-6.7	-2.7	35.7	0.3
Paper & paper base stocks	11	0.530	140.6	139.6	-7.0	-2.8	1.9	1.3	-0.7
Materials associated with nondurable supplies & materials	12	5.094	192.5	193.3	-7.6	-0.5	0.1	-0.2	0.4
Selected building materials	13	1.700	184.7	185.2	-4.1	-0.7	-1.0	-1.7	0.3
Unfinished metals related to durable goods	14	3.796	311.1	313.3	-8.9	-1.2	-1.0	1.2	0.7
Finished metals related to durable goods	15	2.321	214.7	217.8	0.6	-0.5	-1.7	1.1	1.4
Nonmetals related to durable goods	16	1.748	121.9	120.3	-5.4	-0.4	-1.3	-0.2	-1.3
Capital goods	2	27.819	93.2	93.1	-0.2	0.0	-0.1	-0.1	-0.1
Electric generating equipment	20	3.759	129.5	129.7	0.4	-0.1	-0.2	0.0	0.2
Nonelectrical machinery	21	22.652	84.1	84.0	-0.6	0.0	-0.1	-0.1	-0.1
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	1.407	152.8	152.8	3.4	-0.2	0.0	-0.1	0.0
Automotive vehicles, parts & engines	3	13.000	119.0	119.1	1.6	0.1	0.3	-0.1	0.1
Consumer goods, excluding automotives	4	27.454	109.8	109.8	-0.1	0.0	0.0	0.0	0.0
Nondurables, manufactured	40	12.867	125.3	125.3	0.7	-0.1	0.0	0.2	0.0
Durables, manufactured	41	13.625	95.1	95.1	-0.4	-0.1	0.1	-0.2	0.0
Nonmanufactured consumer goods	42	0.962	123.6	123.9	-4.2	0.2	-0.2	0.5	0.2
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 2. U.S. export price indexes and percent changes for selected categories of goods: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	End Use	Relative import- ance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
All commodities		100.000	147.3	146.0	-3.2	0.5	-0.9	-0.9	-0.9
Agricultural commodities		10.612	231.7	230.2	-8.9	-1.1	-1.0	0.1	-0.6
All exports excluding food and fuels (Dec. 2010=100)		73.934	113.7	113.9	0.4	0.1	-0.1	-0.1	0.2
All exports excluding fuels (June 2022=100)		83.612	98.6	98.7	0.1	0.0	-0.2	0.0	0.1
Nonagricultural commodities		89.388	140.8	139.5	-2.4	0.7	-0.9	-1.0	-0.9
Foods, feeds, & beverages	0	9.678	232.5	230.9	-9.7	-1.4	-1.0	0.2	-0.7
Agricultural foods, feeds & beverages, excluding distilled beverages	00	9.308	235.0	233.4	-9.3	-1.4	-1.0	0.2	-0.7
Nonagricultural foods (fish, distilled beverages)	01	0.370	185.5	184.8	-17.4	-2.8	-1.2	-0.1	-0.4
Industrial supplies & materials	1	37.781	196.5	192.1	-8.3	1.5	-2.1	-2.2	-2.2
Industrial supplies & materials, durable		10.844	208.0	210.5	-1.5	0.0	-1.2	1.0	1.2
Industrial supplies & materials, nondurable		26.937	189.5	182.5	-11.0	2.1	-2.5	-3.5	-3.7
Agricultural industrial supplies & materials	10	1.272	218.7	218.1	-6.5	0.4	-0.6	-0.3	-0.3
Nonagricultural industrial supplies & materials		36.509	195.9	191.3	-8.4	1.5	-2.1	-2.3	-2.3
Fuels & lubricants	11	16.388	239.4	225.3	-14.0	3.6	-4.2	-5.2	-5.9
Nonagricultural supplies & materials excluding fuels & building materials	12	19.295	189.1	190.1	-3.7	-0.2	-0.4	0.2	0.5
Selected building materials	13	0.826	150.0	150.5	-1.8	0.5	1.1	0.1	0.3
Capital goods	2	31.246	121.5	121.5	2.2	0.1	0.1	-0.1	0.0
Electrical generating equipment	20	3.457	136.5	136.8	0.7	-0.4	0.1	0.1	0.2
Nonelectrical machinery	21	22.839	101.7	101.6	1.5	0.1	0.1	-0.1	-0.1
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	4.950	211.8	211.9	6.6	0.2	0.0	0.1	0.0
Automotive vehicles, parts & engines	3	8.428	126.0	126.2	3.3	1.0	0.3	-0.1	0.2
Consumer goods, excluding automotives	4	12.867	118.5	118.8	1.8	-0.3	-0.3	-0.2	0.3
Nondurables, manufactured	40	6.793	109.8	110.0	1.2	-0.5	-0.2	-0.3	0.2
Durables, manufactured	41	4.830	119.2	119.6	3.2	-0.1	-0.6	-0.1	0.3
Nonmanufactured consumer goods (Dec. 2018=100)	42	1.245	127.2	127.1	-0.2	-0.8	0.0	0.0	-0.1
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 3. U.S. import price indexes and percent changes for selected industries: December 2022 to December 2023 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Nonmanufacturing		8.720	154.2	150.4	-2.8	6.0	-1.6	-4.5	-2.5
Agriculture, forestry, fishing and hunting	11	2.334	230.8	231.9	8.0	2.0	-1.2	3.5	0.5
Crop production	111	1.904	244.8	246.3	8.4	2.6	-0.7	4.7	0.6
Animal production (Dec. 2022=100)	112	0.260	109.9	110.3	10.3	-1.9	-3.1	-2.1	0.4
Mining	21	6.386	148.4	143.1	-6.4	7.3	-1.7	-7.1	-3.6
Oil and gas extraction	211	6.107	146.9	141.4	-7.2	7.6	-1.9	-7.4	-3.7
Mining (except oil and gas) (Dec. 2022=100)	212	0.279	111.3	110.9	10.9	1.2	2.2	-2.4	-0.4
Manufacturing		91.009	121.3	121.6	-1.5	-0.1	-0.4	-0.2	0.2
Manufacturing, part 1	31	11.393	137.8	137.8	-0.2	-0.8	0.0	0.0	0.0
Food manufacturing	311	4.173	184.2	183.9	-1.1	-2.1	0.2	-0.2	-0.2
Beverage and tobacco product manufacturing	312	1.193	141.1	141.7	4.8	0.1	-0.3	0.1	0.4
Apparel manufacturing	315	3.225	118.9	119.0	-0.5	-0.1	0.1	0.2	0.1
Leather and allied product manufacturing	316	1.383	127.4	127.2	0.2	0.1	0.1	0.2	-0.2
Manufacturing, part 2	32	19.647	140.6	142.0	-5.0	0.4	-1.5	-1.0	1.0
Paper manufacturing	322	0.975	122.9	122.3	-4.4	-1.8	1.1	0.9	-0.5
Petroleum and coal products manufacturing	324	2.915	134.2	143.7	-13.3	4.9	-8.6	-4.6	7.1
Chemical manufacturing	325	11.029	148.8	148.8	-3.5	-0.3	0.3	-0.3	0.0
Plastics and rubber products manufacturing	326	2.609	131.5	130.7	-1.8	-0.2	-1.2	-0.2	-0.6
Nonmetallic mineral product manufacturing	327	1.069	144.4	144.5	1.8	-0.5	-0.3	-0.1	0.1
Manufacturing, part 3	33	59.969	112.2	112.2	-0.6	-0.1	-0.2	0.1	0.0
Primary metal manufacturing	331	4.668	216.4	217.7	-6.6	-1.3	-1.5	1.8	0.6
Fabricated metal product manufacturing	332	3.275	146.1	147.2	-2.3	-0.3	-0.3	-0.5	0.8
Machinery manufacturing	333	7.761	131.7	131.8	2.7	0.1	-0.3	0.1	0.1
Computer and electronic product manufacturing	334	16.797	72.5	72.4	-2.3	0.0	0.0	0.0	-0.1
Electrical equipment, appliance, and component manufacturing	335	5.960	126.6	126.6	-0.1	-0.2	-0.2	-0.5	0.0
Transportation equipment manufacturing	336	13.217	118.0	117.9	1.5	0.1	0.3	0.0	-0.1
Furniture and related product manufacturing	337	2.018	128.6	127.7	-1.3	0.2	-0.1	-0.4	-0.7
Miscellaneous manufacturing	339	6.272	127.9	128.2	1.3	-0.2	0.1	0.0	0.2
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 4. U.S. export price indexes and percent changes for selected industries: December 2022 to December 2023 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Nonmanufacturing		14.515	172.0	168.0	-15.7	2.0	-2.3	-2.8	-2.3
Agriculture, forestry, fishing and hunting	11	5.066	190.0	190.3	-15.2	-2.5	-1.8	0.2	0.2
Crop production	111	4.741	200.3	200.9	-15.9	-2.8	-1.8	0.3	0.3
Mining	21	9.449	107.5	103.6	-16.0	4.4	-2.5	-4.4	-3.6
Oil and gas extraction (Dec. 2021=100)	211	8.094	95.0	91.3	-17.0	5.2	-3.1	-5.5	-3.9
Mining (except oil and gas)	212	1.355	136.8	133.6	-9.9	-0.7	1.1	2.9	-2.3
Manufacturing		83.855	133.4	132.5	-0.8	0.2	-0.6	-0.6	-0.7
Manufacturing, part 1	31	6.970	172.4	171.8	-2.8	-0.1	-0.3	0.0	-0.3
Food manufacturing	311	5.163	203.6	202.6	-3.2	0.1	-0.5	-0.1	-0.5
Beverage and tobacco product manufacturing	312	0.533	142.8	143.4	-1.6	0.2	0.1	1.3	0.4
Manufacturing, part 2	32	26.087	135.0	131.7	-4.9	0.7	-1.6	-2.1	-2.4
Wood product manufacturing (Dec. 2017=100)	321	0.414	116.8	117.4	0.6	1.2	0.4	0.4	0.5
Paper manufacturing	322	1.543	142.6	143.4	-8.9	-1.3	3.0	-0.8	0.6
Petroleum and coal products manufacturing	324	6.669	151.3	137.0	-11.6	3.1	-6.2	-6.1	-9.5
Chemical manufacturing	325	14.175	130.9	130.7	-2.8	-0.2	0.0	-0.7	-0.2
Plastics and rubber products manufacturing	326	2.312	134.1	134.2	0.9	0.5	-0.1	-0.1	0.1
Nonmetallic mineral product manufacturing	327	0.776	132.6	132.9	-0.2	-0.2	0.2	-0.2	0.2
Manufacturing, part 3	33	50.797	128.8	129.0	1.7	0.1	-0.2	0.2	0.2
Primary metal manufacturing	331	4.199	197.0	198.7	-5.1	-0.8	-3.4	3.0	0.9
Machinery manufacturing	333	9.665	150.2	150.1	3.9	0.0	0.0	-0.1	-0.1
Computer and electronic product manufacturing	334	12.901	83.0	82.9	-1.0	0.1	0.0	-0.1	-0.1
Electrical equipment, appliance, and component manufacturing	335	3.590	135.1	135.3	1.5	-0.6	0.3	0.0	0.1
Transportation equipment manufacturing	336	12.397	145.7	145.8	4.7	0.8	0.3	0.0	0.1
Miscellaneous manufacturing	339	4.980	138.4	138.8	3.5	-0.3	0.1	0.1	0.3
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 5. U.S. import price indexes and percent changes for selected categories of goods: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative importance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Live animals; animal products	I	1.485	222.8	220.6	-2.1	-2.1	-2.1	-2.8	-1.0
Meat and edible meat offal	02	0.396	313.3	315.3	4.3	-3.3	-0.8	-2.7	0.6
Fish and crustaceans, molluscs and other aquatic invertebrates	03	0.723	139.0	134.8	-13.9	-2.1	-2.6	-3.6	-3.0
Vegetable products	II	2.287	261.6	263.7	4.0	-0.2	-0.4	3.3	0.8
Edible vegetables, roots, and tubers	07	0.618	551.8	558.9	13.0	2.7	-2.5	5.1	1.3
Edible fruit and nuts; peel of citrus fruit or melons	08	0.831	131.4	130.7	3.6	1.2	1.7	3.8	-0.5
Coffee, tea, mate and spices	09	0.386	297.5	306.9	7.8	-1.1	-1.3	2.5	3.2
Animal or vegetable fats and oils (Dec. 2009=100)	III	0.384	147.4	148.3	-2.4	-2.3	1.4	-0.3	0.6
Prepared foodstuffs, beverages, and tobacco	IV	3.434	198.0	198.9	4.1	-0.2	0.1	0.7	0.5
Sugars and sugar confectionary (Dec. 2021=100)	17	0.226	120.8	121.7	13.4	0.5	2.8	0.4	0.7
Cocoa and cocoa preparations (Dec. 2009=100)	18	0.265	130.9	135.6	21.1	1.0	0.9	2.8	3.6
Miscellaneous edible preparations (Dec. 2022=100)	21	0.401	99.5	99.7	-0.3	-0.2	1.3	0.6	0.2
Beverages, spirits, and vinegar	22	1.119	154.2	154.7	4.6	0.2	-0.3	-0.2	0.3
Mineral products	V	9.405	294.7	294.2	-9.0	6.4	-4.0	-6.3	-0.2
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	9.062	287.8	287.3	-9.5	6.7	-4.3	-6.4	-0.2
Products of the chemical or allied industries	VI	10.525	170.5	170.4	-2.0	-0.1	0.2	-0.2	-0.1
Inorganic chemicals	28	0.607	498.5	511.5	-6.5	1.7	-0.5	1.1	2.6
Organic chemicals	29	2.373	143.3	142.0	-1.3	0.6	0.7	-0.5	-0.9
Pharmaceutical products	30	5.263	147.5	147.6	1.0	0.1	-0.1	0.2	0.1
Fertilizers (Dec. 2022=100)	31	0.328	61.1	61.4	-38.6	-10.7	1.4	-3.8	0.5
Tanning extracts; dye, pigments, varnish, paints & putty (Dec. 2022=100)	32	0.205	101.1	101.3	1.3	0.1	-0.9	-1.0	0.2
Miscellaneous chemical products	38	0.804	116.0	114.7	-4.8	-0.2	-0.1	-1.6	-1.1
Plastics and articles thereof; rubber and articles thereof	VII	4.071	154.0	153.3	-2.7	-0.5	-0.5	-0.3	-0.5
Plastics and articles thereof	39	2.613	151.5	150.1	-5.7	-0.8	-0.9	-0.3	-0.9
Rubber and articles thereof	40	1.458	162.0	162.5	3.0	0.1	0.3	-0.2	0.3
Woodpulp, recovered paper, and paper products	X	0.966	128.5	127.9	-4.8	-1.8	1.0	0.5	-0.5
Textile and textile articles	XI	4.439	120.5	120.6	-0.3	-0.1	-0.1	0.2	0.1
Articles of apparel and clothing accessories, not knitted or crocheted	62	1.215	126.7	126.7	-0.7	-0.2	0.1	0.1	0.0
Headgear, umbrellas, artificial flowers, etc.	XII	1.211	127.1	126.8	-0.2	0.0	0.1	0.2	-0.2
Footwear and parts of such articles	64	0.981	124.0	123.7	-0.2	0.0	0.1	0.2	-0.2
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.932	136.8	136.8	2.0	-0.5	-0.2	-0.2	0.0
Articles of stone, plaster, cement, asbestos, or mica (Dec. 2020=100)	68	0.341	101.5	101.3	-0.4	-1.0	-0.2	-0.2	-0.2
Glass and glassware (Dec. 2021=100)	70	0.328	107.6	107.8	7.5	-0.3	-0.3	-0.1	0.2
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	3.191	223.5	225.7	-3.1	-0.8	-2.4	2.8	1.0
Base metals and articles of base metals	XV	6.092	226.6	227.4	-4.1	-1.0	-0.4	-0.4	0.4
Articles of iron or steel	73	1.798	194.5	194.4	-4.8	-2.0	-0.6	-0.7	-0.1
Copper and articles thereof	74	0.525	365.5	374.9	-1.4	-3.2	-2.4	1.7	2.6
Aluminum and articles thereof	76	1.045	185.3	187.4	-2.8	0.1	-0.1	-0.6	1.1
Tools, implements, cutlery, spoons and forks, of base metal; parts thereof	82	0.450	132.0	132.2	1.8	-0.2	-0.2	-0.1	0.2
Miscellaneous articles of base metal	83	0.537	143.7	143.5	-5.6	0.0	-1.4	-0.6	-0.1
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	29.977	82.4	82.3	-0.6	-0.1	0.0	-0.1	-0.1
Machinery and mechanical appliances; parts thereof	84	15.277	89.4	89.3	-0.3	0.0	-0.2	-0.1	-0.1
Electrical machinery and equip, sound and TV recorders & reproducers, parts	85	14.700	75.9	75.7	-0.9	0.0	0.1	0.0	-0.3
Vehicles, aircraft, vessels and associated transport equipment	XVII	10.995	122.6	122.6	1.2	0.0	0.3	0.0	0.0
Motor vehicles and their parts	87	10.477	121.8	121.8	1.4	0.1	0.3	0.0	0.0
Aircraft, spacecraft, and parts thereof (Dec. 2020=100)	88	0.517	107.2	107.1	-0.7	-0.4	0.0	0.0	-0.1
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	4.173	108.3	108.9	2.8	0.0	0.0	-0.2	0.6
Optical, photographic, measuring and medical instruments	90	3.879	103.9	104.4	2.5	0.0	0.0	-0.1	0.5
Miscellaneous manufactured articles	XX	4.844	119.8	119.7	-0.3	0.1	-0.2	-0.2	-0.1
Furniture & stuffed furnishings; lamps & lighting fittings, nesoi; prefab bldgs	94	2.749	126.8	126.7	-1.0	0.1	0.0	-0.5	-0.1
Toys, games and sports equipment; parts and accessories thereof	95	1.793	106.4	106.5	0.0	0.1	-0.3	-0.1	0.1
Miscellaneous manufactured articles	96	0.302	147.6	147.6	6.9	-0.1	-0.1	0.0	0.0
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 6. U.S. export price indexes and percent changes for selected categories of goods: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative import- ance Nov. 2023(1)	Index		Percent change
			Nov. 2023	Dec. 2023	Annual	Monthly
					Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Live animals; animal products	I	2.085	259.5	257.4	-6.3	0.7	0.9	-1.1	-0.8
Meat & edible meat offal (Dec. 2006=100)	02	1.317	220.8	220.1	4.0	-0.6	1.6	-1.4	-0.3
Fish and crustaceans, mollusks and aquatic invertebrates (Dec. 2022=100)	03	0.217	75.3	74.8	-25.2	-4.2	-1.0	-0.1	-0.7
Vegetable products	II	4.760	247.9	248.8	-15.3	-2.8	-2.3	0.0	0.4
Edible fruit and nuts; peel of citrus fruit or melons	08	0.850	140.6	146.7	5.5	1.2	1.4	5.5	4.3
Cereals	10	1.552	249.6	244.7	-25.5	-5.2	0.8	-3.1	-2.0
Oilseeds and misc. grains, seeds, fruits, plants, straw and fodder	12	1.841	267.3	267.0	-13.4	-3.2	-6.4	1.5	-0.1
Prepared foodstuffs, beverages, and tobacco	IV	3.063	186.5	186.6	-0.5	-0.2	-0.6	0.5	0.1
Miscellaneous edible preparations (Dec. 2017=100)	21	0.677	116.1	116.7	5.6	-0.4	-1.0	-1.4	0.5
Beverages, spirits, and vinegar (Dec. 2008=100)	22	0.471	107.6	107.6	-0.3	-0.6	-0.5	0.0	0.0
Residues and waste from the food industries; prepared animal feed	23	0.772	300.0	301.2	-10.9	-0.6	-0.1	3.3	0.4
Mineral products	V	16.196	287.9	270.8	-14.1	3.8	-4.1	-5.1	-5.9
Ores, slag and ash (Dec. 2012=100)	26	0.468	123.1	123.9	-3.7	-1.0	1.0	-1.7	0.6
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	15.505	276.2	259.0	-14.7	4.0	-4.3	-5.2	-6.2
Products of the chemical or allied industries	VI	12.698	159.0	158.5	-3.0	-0.4	-0.2	-0.7	-0.3
Pharmaceutical products	30	4.493	107.6	107.8	2.2	-0.5	-0.4	-0.1	0.2
Essential oils and resinoids; perfumery cosmetic or toilet preparations	33	0.880	148.4	148.3	5.1	-0.1	0.0	0.0	-0.1
Soap; lubricants; waxes, polishing or scouring products; candles, pastes	34	0.495	140.1	140.0	3.4	-0.1	1.7	-0.8	-0.1
Miscellaneous chemical products	38	2.333	192.0	192.1	4.3	-0.2	-0.1	-0.3	0.1
Plastics and articles thereof; rubber and articles thereof	VII	4.595	157.3	156.7	-1.0	0.4	0.3	-0.3	-0.4
Plastics and articles thereof	39	3.773	153.7	152.9	-1.8	0.5	0.0	-0.3	-0.5
Rubber and articles thereof	40	0.822	172.6	173.2	2.7	-0.2	1.8	-0.3	0.3
Wood, wood charcoal, cork, straw, baskets and wickerwork (Dec. 2014=100)	IX	0.471	106.6	107.3	-4.3	1.0	-0.7	0.4	0.7
Woodpulp, recovered paper, and paper products	X	1.710	144.2	144.8	-5.1	-1.4	4.0	-0.9	0.4
Woodpulp and recovered paper (Dec. 2019=100)	47	0.504	149.1	151.6	-9.9	-1.5	11.9	-0.5	1.7
Paper and paperboard; articles of paper pulp, paper or paperboard	48	0.960	143.2	143.2	-4.4	-1.7	1.0	-1.5	0.0
Cotton, including yarns and woven fabrics thereof	52	0.479	160.7	162.4	-10.2	0.4	-0.2	-2.4	1.1
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.776	151.8	152.1	3.2	0.0	2.0	-0.1	0.2
Glass and glassware (Dec. 2019=100)	70	0.469	114.6	114.9	2.0	0.0	0.3	0.0	0.3
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	4.553	308.4	312.2	-1.7	-1.0	-2.9	4.0	1.2
Base metals and articles of base metals	XV	4.428	204.5	208.4	-1.4	0.4	-1.1	-1.4	1.9
Copper and articles thereof	74	0.568	249.9	256.3	-5.2	-0.3	-4.3	-0.5	2.6
Aluminum and articles thereof	76	0.673	143.5	144.5	-0.8	-1.3	2.7	0.0	0.7
Miscellaneous articles of base metal (Dec. 2022=100)	83	0.331	104.8	104.7	4.7	0.0	1.7	0.0	-0.1
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	26.210	106.6	106.5	1.8	0.1	0.0	-0.1	-0.1
Machinery and mechanical appliances; parts thereof	84	15.295	130.9	130.6	4.1	0.1	0.2	-0.1	-0.2
Electrical machinery and equipment and parts and accessories thereof	85	10.915	81.3	81.5	-1.0	0.2	-0.2	-0.1	0.2
Vehicles, aircraft, vessels and associated transport equipment	XVII	9.311	152.5	152.7	2.8	1.0	0.2	0.0	0.1
Motor vehicles and their parts	87	7.042	127.4	127.5	2.2	1.1	0.3	0.0	0.1
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	5.721	118.4	118.6	3.9	0.0	0.1	0.0	0.2
Miscellaneous manufactured articles	XX	1.206	134.2	134.4	0.1	-0.3	0.1	-0.6	0.1
Furniture; stuffed furnishings; lamps and lighting fittings nesoi	94	0.579	147.8	147.8	-0.7	-0.6	0.0	0.0	0.0
Toys, games and sports equipment; parts and accessories thereof	95	0.494	117.8	118.3	3.7	0.1	0.1	-0.2	0.4
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

Table 7. U.S. import price indexes and percent changes by locality of origin: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	Relative import- ance Nov. 2023(1)	Index		Percent change
		Nov. 2023	Dec. 2023	Annual	Monthly
				Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Industrialized Countries(2)	100.000	144.6	144.2	-1.7	0.3	-0.6	-1.0	-0.3
Nonmanufacturing	11.477	257.5	249.0	-5.8	6.1	-3.0	-5.9	-3.3
Manufacturing	88.078	135.6	135.7	-1.2	-0.3	-0.4	-0.2	0.1
Canada	100.000	172.8	170.5	-6.0	1.4	-1.3	-2.8	-1.3
Nonmanufacturing	32.427	253.5	244.4	-6.7	6.4	-3.2	-6.0	-3.6
Manufacturing	66.729	154.6	154.2	-5.7	-0.8	-0.4	-1.1	-0.3
European Union	100.000	154.7	155.2	1.4	-0.4	-0.4	-0.3	0.3
Manufacturing	99.165	150.4	150.9	1.5	-0.4	-0.5	-0.3	0.3
France (Dec. 2003=100)	100.000	150.2	150.6	5.8	-0.7	-0.7	-0.1	0.3
Germany (Dec. 2003=100)	100.000	123.1	123.5	-2.1	-0.6	-0.9	0.2	0.3
United Kingdom (Dec. 2003=100)	100.000	136.6	136.3	1.0	0.9	-0.4	-0.3	-0.2
Latin America(3)	100.000	171.5	172.7	2.6	0.9	-0.2	0.0	0.7
Nonmanufacturing	14.650	341.4	337.7	4.8	4.5	-0.9	-1.6	-1.1
Manufacturing	85.037	137.7	139.1	2.4	0.3	0.0	0.2	1.0
Mexico (Dec. 2003=100)	100.000	146.0	146.1	3.6	0.1	-0.4	-0.1	0.1
Nonmanufacturing (Dec. 2008=100)	9.087	175.4	172.4	13.7	-1.5	-3.6	-2.9	-1.7
Manufacturing (Dec. 2008=100)	90.606	99.6	99.8	2.7	0.3	-0.1	0.3	0.2
Pacific Rim (Dec. 2003=100)(4)	100.000	102.4	102.2	-2.0	0.0	-0.1	-0.3	-0.2
China (Dec. 2003=100)	100.000	101.2	101.1	-3.0	-0.2	-0.1	-0.2	-0.1
Japan	100.000	101.6	101.5	0.4	0.1	0.1	0.1	-0.1
Taiwan (Dec. 2018=100)	100.000	109.5	109.0	-2.0	-0.1	0.3	-0.3	-0.5
Asian NICs(5)	100.000	95.3	94.7	-2.7	0.0	-0.2	-0.4	-0.6
ASEAN (Dec. 2003=100)(6)	100.000	100.7	100.2	-3.0	-0.1	0.0	-0.5	-0.5
Asia Near East (Dec. 2003=100)(7)	100.000	215.4	208.1	-7.7	1.1	-0.9	-3.8	-3.4
Footnotes (1) Relative importance figures are based on 2021 trade values. (2) Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. (3) Mexico, Central America, South America, and the Caribbean. (4) China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized Countries. (5) Asian Newly Industrialized Countries - Hong Kong, Singapore, South Korea, and Taiwan. (6) Association of Southeast Asian Nations - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. (7) Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, and Yemen.
NOTES: Data may be revised in each of the 3 months after original publication. Regions are not mutually exclusive. Dash = Not available

Table 8. U.S. export price indexes and percent changes by locality of destination: December 2022 to December 2023 [December 2017=100, unless otherwise noted]

Description	Relative import- ance Nov. 2023(1)	Index		Percent change
		Nov. 2023	Dec. 2023	Annual	Monthly
				Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Industrialized Countries(2)	100.000	119.4	119.2	-0.5	0.6	-0.7	-0.7	-0.2
Nonmanufacturing	12.506	137.2	132.9	-8.3	3.1	-1.7	-5.7	-3.1
Manufacturing	85.708	117.6	117.8	0.7	0.3	-0.5	0.0	0.2
Canada	100.000	127.9	127.9	-1.0	0.6	-0.3	-0.5	0.0
Nonmanufacturing (Dec. 2020=100)	7.786	136.5	133.4	-18.4	2.0	-0.5	-1.7	-2.3
Manufacturing (Dec. 2020=100)	90.460	119.5	119.7	0.6	0.6	-0.2	-0.5	0.2
European Union	100.000	116.8	116.5	-0.6	0.9	-0.8	-1.5	-0.3
Nonmanufacturing	15.504	137.0	133.5	-4.0	7.0	-4.5	-7.4	-2.6
Manufacturing	82.818	113.3	113.3	0.3	-0.3	0.0	-0.3	0.0
Germany	100.000	117.2	117.3	3.3	0.0	-1.0	0.4	0.1
Latin America(3)	100.000	122.6	119.9	-5.7	1.0	-1.3	-1.8	-2.2
Nonmanufacturing	9.062	137.1	134.0	-28.0	0.4	1.7	-3.5	-2.3
Manufacturing	90.351	121.9	119.2	-2.5	1.0	-1.6	-1.6	-2.2
Mexico	100.000	122.6	120.8	-4.1	0.2	-0.8	-1.8	-1.5
Nonmanufacturing	8.028	120.8	117.4	-32.8	-0.9	4.9	-3.4	-2.8
Manufacturing	91.344	123.7	122.0	-0.6	0.3	-1.3	-1.8	-1.4
Pacific Rim(4)	100.000	112.0	111.4	-3.6	0.3	-0.6	-1.1	-0.5
Nonmanufacturing	20.493	115.6	112.6	-12.8	1.1	-2.0	-5.2	-2.6
Manufacturing	78.354	112.8	112.7	-0.4	0.0	-0.1	0.0	-0.1
China	100.000	107.5	106.8	-3.1	0.6	-0.5	-1.0	-0.7
Nonmanufacturing	27.089	106.8	103.8	-9.4	0.7	-2.2	-2.7	-2.8
Manufacturing	71.822	110.2	110.2	-0.7	0.5	0.4	-0.4	0.0
Japan	100.000	108.6	106.7	-9.5	-0.2	0.4	-1.8	-1.7
Nonmanufacturing	23.591	114.9	109.8	-20.5	-1.4	3.0	-5.6	-4.4
Manufacturing	75.363	107.3	106.3	-4.7	0.3	-0.5	-0.6	-0.9
Footnotes (1) Relative importance figures are based on 2021 trade values. (2) Western Europe, Canada, Japan, Australia, New Zealand, and South Africa. (3) Mexico, Central America, South America, and the Caribbean. (4) China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized Countries.
NOTES: Data may be revised in each of the 3 months after original publication. Regions are not mutually exclusive. Dash = Not available

Table 9. U.S. terms of trade indexes and percent changes by locality: December 2022 to December 2023(1) [December 2017=100, unless otherwise noted]

Description	Index		Percent change
	Nov. 2023	Dec. 2023	Annual	Monthly
			Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Industrialized Countries(2)	101.1	101.2	1.2	0.2	-0.1	0.3	0.1
Canada	97.3	98.6	5.3	-0.8	1.1	2.4	1.3
European Union	101.6	101.0	-1.9	1.4	-0.3	-1.3	-0.6
Germany	109.6	109.3	5.5	0.6	-0.1	0.3	-0.3
Latin America(3)	106.4	103.4	-8.0	0.0	-1.1	-1.8	-2.8
Mexico	108.3	106.7	-7.5	0.1	-0.4	-1.8	-1.5
Pacific Rim(4)	107.6	107.3	-1.6	0.3	-0.5	-0.8	-0.3
China	106.3	105.7	-0.2	0.8	-0.4	-0.8	-0.6
Japan	102.1	100.4	-9.9	-0.3	0.3	-1.9	-1.7
Footnotes (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

Table 10. U.S. international price indexes and percent changes for selected transportation services: December 2022 to December 2023 [2000=100, unless otherwise noted]

Description	Relative import- ance Nov. 2023(1)	Index		Percent change
		Nov. 2023	Dec. 2023	Annual	Monthly
				Dec. 2022 to Dec. 2023	Aug. 2023 to Sep. 2023	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023
Air Freight
Import Air Freight	100.000	239.9	271.7	-4.6	4.1	-0.6	4.5	13.3
Europe (Dec. 2003=100)	22.581	178.9	183.1	-30.6	-7.7	-0.3	-3.3	2.3
Asia	76.981	248.0	290.5	6.5	9.1	-0.4	7.4	17.1
Export Air Freight	100.000	169.5	170.1	-12.9	1.0	-5.2	-0.5	0.4
Europe (Dec. 2006=100)	25.318	133.1	134.9	-15.8	1.1	-5.8	-2.1	1.4
Asia (Dec. 2011=100)	53.298	134.0	135.4	-10.5	0.8	-6.9	0.8	1.0
Inbound Air Freight	100.000	173.6	185.7	-5.2	3.7	0.5	3.5	7.0
Europe (Dec. 2003=100)	25.759	143.6	149.7	-14.2	-6.4	-3.0	-0.6	4.2
Asia	63.444	168.7	185.4	0.9	10.1	0.0	7.4	9.9
Outbound Air Freight	100.000	169.5	169.8	-16.6	8.0	0.4	-6.4	0.2
Europe (Dec. 2003=100)	29.204	165.6	167.1	-14.2	0.9	-2.6	-2.1	0.9
Asia	54.161	184.2	185.5	-18.9	13.0	3.2	-9.9	0.7
Air Passenger Fares
Import Air Passenger Fares	100.000	177.5	189.7	-4.2	9.9	2.5	-0.4	6.9
Europe	43.207	189.7	192.8	-0.9	17.7	-0.8	-7.6	1.6
Asia	5.876	177.8	198.0	-4.0	3.1	3.8	0.2	11.4
Latin America/Caribbean	16.175	157.9	172.5	-11.0	-2.8	8.2	5.3	9.2
Export Air Passenger Fares	100.000	181.0	174.9	-5.3	-4.5	-0.6	1.3	-3.4
Europe	19.911	210.4	199.7	-4.3	0.8	-3.8	-8.0	-5.1
Asia	12.034	198.8	191.2	-5.8	-10.8	-2.9	2.6	-3.8
Latin America/Caribbean	54.371	183.6	175.4	-7.1	-4.3	0.5	4.9	-4.5
Footnotes (1) Relative importance figures are based on 2021 trade values.
NOTES: Data may be revised in each of the 3 months after original publication. Dash = Not available

                                                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."

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 www.bls.gov/bls/list.htm. 
 
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.   

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