Export prices decline in August 2008

September 23, 2008

Prices for overall exports decreased 1.7 percent in August 2008. This was the first decline since October 2006.

Over-the-month percent change in price index for exports, August 2007–August 2008 (not seasonally adjusted)
[Chart data—TXT]

The August decline was mostly led by a 9.6-percent drop in agriculture prices. The decline in agricultural prices in August followed a 6.5-percent advance in July, and was the largest one-month drop since the index was first published monthly in December 1988.

The August decline in agricultural prices was led by sharp decreases in corn, soybeans, and wheat prices, all of which still remained up over the past 12-months. Despite the downturn in August, the price index for overall agricultural exports rose 24.8 percent for the year ended in August.

Nonagricultural prices also fell, decreasing 0.7 percent. This was the first decrease in nonagricultural prices since July 2007. It resulted from a 2.5-percent downturn in the price for nonagricultural industrial supplies and materials, which last recorded a monthly drop in September 2007. Decreasing prices for fuel led the decline. The overall nonagricultural index advanced 6.7 percent over the year.

These data are from the BLS International Price program. Export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes -- August 2008," (PDF) (HTML) news release USDL 08-1272.


Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Export prices decline in August 2008 on the Internet at http://www.bls.gov/opub/ted/2008/sept/wk4/art02.htm (visited September 25, 2016).


Recent editions of Spotlight on Statistics

  • A look at healthcare spending, employment, pay, benefits, and prices
    As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.

  • Employment and Wages in Healthcare Occupations
    Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.

  • Fifty years of looking at changes in peoples lives
    Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.