Transmission of material in this release is embargoed until				       USDL-13-0927
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                          U.S. IMPORT AND EXPORT PRICE INDEXES - APRIL 2013


U.S. import prices fell 0.5 percent in April, the U.S. Bureau of Labor Statistics reported today, following a 
0.2 percent decrease in March. Lower prices for both fuel and nonfuel imports contributed to the declines in 
each month. Prices for U.S. exports decreased 0.7 percent in April after a 0.5 percent decline in March.  


Imports

All Imports: The price index for U.S. imports decreased for the second consecutive month in April, after 
increasing the two months prior to March. The April decrease was largely driven by lower fuel prices, 
although nonfuel prices also declined in April. Import prices fell 2.6 percent over the past 12 months, the 
largest year-over-year decline since a 3.3 percent decrease between July 2011 and July 2012. 

Fuel Imports: Fuel prices continued to decline in April, decreasing 1.7 percent after falling 0.6 percent in 
March. In April, a 1.9 percent decline in petroleum prices more than offset a 6.1 percent increase in the price 
index for natural gas, the first advance in natural gas prices since a 16.6 percent rise in December 2012. The 
price index for import fuels decreased 7.8 percent for the year ended in April and has not recorded a year-
over-year advance since March 2012. The annual decline in fuel prices was led by a 9.5 percent drop in 
petroleum prices, which more than offset an 83.8 percent rise in natural gas prices.              

All Imports Excluding Fuel: Nonfuel import prices also fell in April, decreasing 0.2 percent following a 0.1 
percent drop the previous month. Lower prices for nonfuel industrial supplies and materials; capital goods; 
automotive vehicles; and foods, feeds, and beverages more than offset a 0.3 percent advance in consumer 
goods prices. The price index for nonfuel imports fell 0.7 percent over the past 12 months.     


Table A. Import and export price indexes, selected categories
Percent changes

Exports 

All Exports: The price index for U.S. exports declined 0.7 percent in April, the largest monthly decrease 
since the index fell 1.7 percent in June 2012. Falling prices for both nonagricultural and agricultural exports 
each contributed to the decline. U.S. export prices also fell for the April 2012-13 period, decreasing 0.9 
percent. The 12-month decrease was led by lower nonagricultural prices, which more than offset rising 
agricultural prices over the past year. 

Agricultural Exports: Agricultural prices fell 2.2 percent in April after decreasing 1.9 percent in March. The 
April decline was driven by an 8.1 percent drop in corn prices, a 6.2 percent decrease in soybean prices, and 
a 7.7 percent fall in nut prices. Despite the recent monthly decreases, overall agricultural prices rose 4.2 
percent for the year ended in April.                   

All Exports Excluding Agriculture: The price index for nonagricultural exports decreased 0.5 percent in 
April, led by a 1.0 percent decline in nonagricultural industrial supplies and materials prices. Each of the 
major finished goods categories decreased or was unchanged in April. Nonagricultural export prices fell 1.5 
percent for the year ended in April, the largest year-over-year decline since a 1.5 percent decrease in 
September 2012. 


                                       SELECTED APRIL HIGHLIGHTS


Import Prices

Imports by Locality of Origin: Prices for imports from Japan decreased 0.6 percent in April, the largest 
monthly decline since a 0.6 percent drop in September 2008. The April decrease followed declines of 0.2 
percent and 0.5 percent for the two previous months. The fall in import prices from Japan over the past three 
months paralleled a drop in the value of the Japanese yen relative to the U.S. dollar during the first quarter 
of 2013. Prices for imports from China fell for the second consecutive month in April, edging down 0.1 
percent following a 0.2 percent decrease in March. Import prices from China have not recorded a monthly 
advance since a 0.1 percent rise in February 2012 and decreased 0.9 percent over the past year.  Prices for 
imports from Canada, Mexico, and the European Union also decreased in April, falling 0.6 percent, 0.9 
percent, and 0.1 percent, respectively.        

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials 
declined 0.7 percent in April after decreasing 0.5 percent the previous month. The decline was primarily led 
by a 2.2 percent drop in unfinished metals prices. 

Finished Goods: Capital goods prices fell for the third consecutive month in April, down 0.2 percent. Prices 
for capital goods declined 0.6 percent over the past year, the largest 12-month decrease since a 0.7 percent 
drop in February 2010. The price index for automotive vehicles decreased 0.3 percent in April, led by a 0.4 
percent decline in passenger cars prices. In contrast, consumer goods prices rose 0.3 percent in April, led by a 
1.8 percent advance in medicinal, dental, and pharmaceutical prices. 

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices decreased 0.5 percent in April after rising 
1.6 percent in March. The decline was led by a 7.4 percent drop in vegetable prices, which followed an 11.5 
percent increase the previous month. 

Transportation Services: Import air passenger fares rose 0.3 percent after three consecutive monthly 
declines. Higher European and Asian fares contributed to the April advance.  The index for import air 
passenger fares increased 1.2 percent for the year ended in April. In contrast, import air freight prices 
decreased 0.9 percent in April and 2.4 percent over the past year. 


Export Prices

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices declined 1.0 percent in April, following a 0.8 percent drop in March. Both declines were driven by 
lower fuel prices, although nonferrous metal prices and prices for chemicals each decreased in April as well. 

Finished Goods: Finished goods prices decreased overall in April. Prices for capital goods fell 0.2 percent, 
led by a 2.0 percent drop in semiconductor prices. The price index for consumer goods declined 0.3 percent 
driven by lower prices for medicinal, dental, and pharmaceutical products. Automotive vehicles prices were 
unchanged in April. 

Transportation Services: Export air passenger fares fell 3.2 percent in April, following a 0.9 percent 
advance in March. A 5.7 percent drop in Asian fares, a 4.1 percent decline in European fares, and a 3.3 
percent decrease in Latin American/Caribbean fares each contributed to the decline. In contrast, the price 
index for export air freight rose 0.3 percent in April.      

Import and Export Price Index data for May 2013 are scheduled for release on Thursday, June 13, 
2013 at 8:30 a.m. (EDT).

                                          TECHNICAL NOTE


Import and Export Merchandise and Services Price Indexes -- All indexes use a modified Laspeyres 
formula and are not seasonally adjusted.  Price indexes are reweighted annually, with a two-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 http://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) include outputs such as manufactured plastic rather than inputs such as petroleum.  The 
NAICS classification structure also matches the classification system used by the PPI (Producer Price 
Index) to produce the NAICS primary products indexes.

Import Price Indexes -- Products have been 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 Indexes -- Products have been 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 -- Starting in September 2008 the Import Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are 
calculated from data obtained from an airline consulting service.  These data include tickets sold by 
travel agencies and travel websites.  Tickets sold directly by the airlines are excluded, as are frequent 
flyer tickets generally.  Starting in January 2008 the Export Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by U.S. carriers from foreign residents and are 
calculated from data collected directly from airlines. These data include frequent flyer tickets and those 
sold by consolidators. Taxes and fees are included in the Import Air Passenger Fares Index and excluded 
from the Export Air Passenger Fares Index. 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 represent transactions between U.S. and foreign residents) and International (which 
represent transactions inbound to and outbound from the U.S.). Fact sheets specifying detailed 
information for each services industry are available at http://www.bls.gov/mxp under "MXP 
Publications."

Import Indexes by Locality of Origin -- Prices used in these indexes are a subset of the data collected 
for the Import Price Indexes.  Beginning with January 2002, the indexes are defined by locality of origin 
using a nomenclature based upon the North American Industry Classification System (NAICS).  
Nonmanufactured goods are defined as NAICS 11 and 21 and manufactured goods are defined as 
NAICS 31-33. 
 
Revision Policy -- To reflect the availability of late reports and corrections by respondents, monthly data 
may be revised in each of the three months after original publication.  After three months, no further data 
revisions take place.  So, for example, data released in the January release will be subject to revision in 
the releases for February, March, and April.

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 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 National Income and Product Accounts, while 
International indexes are more appropriate for market analysis.  Merchandise and services indexes also 
can be used to study U.S. competitiveness and to compute price elasticities, and the merchandise import 
indexes by country or region of origin are useful in terms of trade analysis.

E-Mail Subscription -- The U.S. Import and Export Price Indexes news release is available through an 
e-mail subscription service at (http://www.bls.gov/bls/list.htm).
 
Additional Information -- More detailed data are available on the Import/Export Price Indexes home 
page at (http://www.bls.gov/mxp).  Flat Files and the FTP server are available for users requiring access 
to either a large volume of time series data or other related documentation. The FTP site can be accessed 
at ftp://ftp.bls.gov.   For technical assistance in using the BLS Internet site, send e-mail to 
(labstat.helpdesk@bls.gov).  For Import/Export Price Index data requests, send e-mail to 
(mxpinfo@bls.gov). 

Information from this release will be made available to sensory impaired individuals upon request.  
Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.