U.S. Import and Export Price Indexes News Release

Transmission of material in this release is embargoed until				USDL-24-0268
8:30 a.m. (ET) Thursday, February 15, 2024

Technical information: (202) 691-7101 * MXPinfo@bls.gov * www.bls.gov/mxp
Media contact:	       (202) 691-5902 * PressOffice@bls.gov


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

Prices for U.S. imports advanced 0.8 percent in January following a 0.7-percent decline the previous month, 
the U.S. Bureau of Labor Statistics reported today. Higher prices for both nonfuel and fuel imports 
contributed to the overall increase. U.S. export prices also advanced 0.8 percent in January, after decreasing 
0.7 percent in December.

Imports 

The price index for U.S. imports rose 0.8 percent in January, the first 1-month increase since September 
2023 and the largest monthly advance since the index rose 2.9 percent in March 2022. Despite the January 
increase, U.S. import prices fell 1.3 percent over the past year and have not risen on a 12-month basis since 
January 2023. (See table 1.)

Fuel Imports: Import fuel prices increased 1.2 percent in January following declines of 7.7 percent in 
December, 6.3 percent in November, and 3.9 percent in October. In January, higher petroleum prices more 
than offset lower natural gas prices. In spite of the January rise, import fuel prices declined 10.8 percent 
over the past 12 months. Prices for import petroleum rose 2.3 percent in January, after decreasing 18.5 
percent in the final quarter of 2023. Petroleum prices declined 2.7 percent for the year ended in January, the 
smallest 12-month drop since the index last increased in December 2022. In contrast, the price index for 
import natural gas fell 24.5 percent in January following a 3.6-percent decrease the previous month. Natural 
gas prices declined 75.9 percent over the past year. 

All Imports Excluding Fuel: Prices for nonfuel imports advanced 0.7 percent in January, after being 
unchanged in December. The January increase was the largest 1-month rise since the index advanced 1.2 
percent in March 2022. In January, prices for consumer goods, capital goods, automotive vehicles, and 
foods, feeds, and beverages all contributed to the overall advance. The price index for nonfuel imports 
decreased 0.3 percent for the year ended in January, the smallest 12-month decline since the index last rose 
in February 2023.       

Foods, Feeds, and Beverages: Import foods, feeds, and beverages prices rose 1.5 percent in January, the 
largest monthly increase since July 2023. The January advance was led by a 10.2-percent rise in fruit prices 
and a 4.9-percent increase in vegetable prices.     

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials was 
unchanged in January following a 0.4-percent increase in December. In January, lower prices for finished 
metals and chemicals offset higher prices for unfinished metals and selected building materials. 

Finished Goods: Prices for each of the major finished goods import categories advanced in January. 
Consumer goods prices rose 1.1 percent in January, the largest monthly increase since the 1-month percent 
change series was first published in January 1989. The January 2024 rise was driven by a 4.1-percent 
advance in medicinal, dental, and pharmaceutical materials. Automotive vehicles prices advanced 0.8 
percent in January, the largest monthly increase since May 2011. Higher prices for parts, engines, bodies, 
and chassis and passenger cars led the January advance. The price index for capital goods also rose in 
January, increasing 0.4 percent, the largest 1-month advance since April 2022.            

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

Month	IMPORTS			EXPORTS
	All imports	Fuel imports	Nonfuel imports	All exports	Agri- cultural exports	Non- agricultural exports
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	6.4	-0.2	0.5	-1.1	0.7
October	-0.6	-3.9	(r)-0.2	-0.9	-1.0	-0.9
November	-0.5	(r)-6.3	0.1	(r)-0.7	0.1	(r)-0.8
December	(r)-0.7	(r)-7.7	0.0	(r)-0.7	(r)-0.2	(r)-0.8
2024
January	0.8	1.2	0.7	0.8	-1.0	0.9
Jan. 2022 to 2023	0.9	2.7	0.6	2.0	5.3	1.5
Jan. 2023 to 2024	-1.3	-10.8	-0.3	-2.4	-8.7	-1.6
Footnotes (r) Revised

Exports 

U.S. export prices increased 0.8 percent in January, after declining 0.7 percent in each of the 2 previous 
months. The January advance was the first monthly rise since September 2023. Higher nonagricultural 
export prices in January more than offset lower agricultural prices. Despite the January increase, U.S. export 
prices decreased 2.4 percent over the past 12 months. (See table 2.)

Agricultural Exports: Prices for agricultural exports fell 1.0 percent, after declining 0.2 percent the 
previous month. Lower prices in January for soybeans, animal feeds not elsewhere specified, corn, 
vegetables, and fruit all contributed to the overall decline. Agricultural export prices decreased 8.7 percent 
for the year ended in January. The 12-month drop was primarily led by a 17.8-percent decline in soybeans 
prices and a 30.7-percent decrease in corn prices.         

All Exports Excluding Agriculture: The price index for nonagricultural exports rose 0.9 percent in 
January, the first monthly advance since September 2023. Higher prices in January for nonagricultural 
industrial supplies and materials, capital goods, automotive vehicles, and nonagricultural foods more than 
offset lower consumer goods prices. Nonagricultural export prices decreased 1.6 percent from January 2023 
to January 2024.     

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices 
rose 2.0 percent in January, after declining 6.0 percent over the 3 previous months. The January advance 
was led by a 4.8-percent increase in fuel prices. The rise in fuel prices followed declines of 5.4 percent in 
December, 4.9 percent in November, and 4.2 percent in October. 

Finished Goods: Prices for the major finished goods export categories were mixed in January. The price 
index for export capital goods rose 0.9 percent, the largest monthly advance since January 2022. The 
increase was driven by higher prices for civilian aircraft, aircraft engines, and parts; and industrial and 
service machinery. Prices for automotive vehicles rose 0.4 percent in January, after advancing 0.2 percent 
the previous month. The increase was led by higher prices for parts, engines, bodies, and chassis. In 
contrast, consumer goods prices fell 1.2 percent, the largest 1-month decline since June 1991.     

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


Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Prices for imports from China decreased 0.3 percent in January, the largest 
1-month decline since July 2023. The price index for imports from China last increased on a monthly basis 
in October 2022. Import prices from China fell 2.9 percent from January 2023 to January 2024. In contrast, 
prices for imports from Japan rose 1.1 percent in January, after edging down 0.1 percent in December. The 
January increase was the largest monthly advance for the index since a 1.2-percent rise in November 1998. 
Import prices from Japan increased 1.4 percent over the past year. The price index for imports from Canada 
declined 0.2 percent in January following decreases of 3.7 percent in December and 3.3 percent in 
November. Prices for imports from Canada fell 9.0 percent for the year ended in January. Import prices 
from the European Union advanced 1.0 percent in January and prices for imports from Mexico rose 1.3 
percent over the same period. (See table 7.)

Exports by Locality of Destination: Export prices to China fell 0.9 percent in January, the largest 1-month 
drop since a 1.7-percent decline in June 2023. The price index for exports to China decreased 3.4 percent 
over the past 12 months. Prices for exports to Japan fell 0.7 percent in January following a 0.1-percent 
advance the previous month. Export prices to Japan declined 7.9 percent over the past year. The price index 
for exports to Canada decreased 0.5 percent in January, the largest monthly drop since May 2023. Prices for 
exports to Canada fell 0.9 percent for the year ended in January. In contrast, export prices to the European 
Union increased 1.8 percent in January and prices for exports to Mexico advanced 0.7 percent over the same 
period. (See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on country, region, or grouping and measure 
the change in the purchasing power of exports relative to imports. U.S. terms of trade with China fell 0.6 
percent in January, after increasing 0.3 percent in December. Lower export prices to China in January more 
than offset lower import prices from China. The index for U.S. terms of trade with China declined 0.6 
percent for the year ended in January. U.S. terms of trade with Japan declined 1.9 percent in January 
following a 0.2-percent increase the previous month. The index for U.S. terms of trade with Japan declined 
9.2 percent over the past year. U.S. terms of trade with Canada fell 0.3 percent in January following a 3.8-
percent advance in December and a 3.1-percent increase in November. The index for U.S. terms of trade 
with the European Union rose 0.8 percent in January and U.S. terms of trade with Mexico fell 0.6 percent 
over the same period. (See table 9.)


Import and Export Services

Imports: Import air passenger fares decreased 6.2 percent in January following a 6.9-percent advance the 
previous month. Lower Asian and Latin American/Caribbean fares in January more than offset higher 
European fares. Despite the January decrease, import air passenger fares rose 2.6 percent over the past year, 
the first 12-month advance since June 2023. The price index for import air freight fell 12.1 percent in 
January, after rising 13.3 percent in December. Lower Asian air freight prices drove the January decline. 
Prices for import air freight decreased 5.5 percent over the past 12 months. (See table 10.)

Exports: Export air passenger fares increased 10.8 percent in January following a 3.4-percent drop the 
previous month. The January advance was the largest monthly rise since January 2023. Higher Latin 
American/Caribbean, European, and Asian fares in January all contributed to the overall advance. In spite of 
the January increase, export air passenger fares fell 6.6 percent over the past year. Export air freight prices 
rose 2.7 percent in January, after falling 1.2 percent in December. Despite the January increase, prices for 
export air freight fell 9.4 percent from January 2023 to January 2024.      

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

Table 1. U.S. import price indexes and percent changes for selected categories of goods: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	End Use	Relative import- ance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
All commodities		100.000	138.4	139.5	-1.3	-0.6	-0.5	-0.7	0.8
All imports excluding food and fuels (Dec. 2010=100)		84.942	107.4	108.1	-0.6	-0.2	0.1	0.0	0.7
All imports excluding petroleum		92.518	123.1	123.8	-1.4	-0.2	0.2	0.0	0.6
All imports excluding fuels (Dec. 2001=100)		92.118	126.8	127.7	-0.3	-0.2	0.1	0.0	0.7
Foods, feeds, & beverages	0	7.177	214.7	217.9	2.9	-0.4	0.9	-0.1	1.5
Agricultural foods, feeds & beverages, excluding distilled beverages	00	5.869	242.3	246.6	5.8	-0.2	1.7	0.2	1.8
Nonagricultural foods (fish, distilled beverages)	01	1.307	147.8	148.2	-8.5	-1.7	-2.1	-1.5	0.3
Industrial supplies & materials	1	22.668	234.9	235.9	-7.6	-1.9	-2.4	-2.7	0.4
Industrial supplies & materials excluding petroleum		15.343	198.3	197.2	-10.6	-0.6	0.8	0.3	-0.6
Industrial supplies & materials excluding fuels (Dec. 2001=100)		14.774	221.0	220.9	-5.8	-0.6	0.2	0.4	0.0
Industrial supplies & materials, durable		9.411	214.6	214.7	-4.9	-1.2	0.4	0.5	0.0
Industrial supplies & materials nondurable excluding petroleum		5.774	179.6	177.0	-18.2	0.3	1.4	0.0	-1.4
Fuels & lubricants	10	7.882	265.3	268.5	-10.8	-3.9	-6.3	-7.7	1.2
Petroleum & petroleum products	100	7.482	282.4	288.9	-2.7	-4.1	-7.5	-8.1	2.3
Crude petroleum	10000	5.090	288.9	293.2	1.2	-2.0	-9.2	-9.9	1.5
Fuels, n.e.s.-coals & gas	101	0.399	184.0	150.6	-69.2	-1.8	21.0	-2.9	-18.2
Natural gas	10110	0.296	164.8	124.5	-75.9	-2.6	30.4	-3.6	-24.5
Paper & paper base stocks	11	0.543	139.6	140.0	-6.2	1.9	1.3	-0.7	0.3
Materials associated with nondurable supplies & materials	12	4.832	193.4	193.1	-7.3	0.3	-0.3	0.4	-0.2
Unfinished metals related to durable goods	14	3.430	313.1	316.1	-8.2	-1.0	1.2	0.6	1.0
Finished metals related to durable goods	15	2.635	218.0	214.5	-1.3	-1.7	1.2	1.5	-1.6
Capital goods	2	28.922	93.1	93.5	-0.1	-0.2	0.0	-0.1	0.4
Nonelectrical machinery	21	22.939	84.0	84.1	-0.7	-0.1	-0.1	-0.1	0.1
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	1.625	153.0	155.2	4.3	0.0	-0.1	0.1	1.4
Automotive vehicles, parts & engines	3	13.656	119.2	120.2	2.1	0.4	-0.1	0.1	0.8
Automotive vehicles, parts and engines, 2 digit (Dec. 2023=100)	30	13.656	100.0	100.9	-	-	-	-	0.9
Consumer goods, excluding automotives	4	27.578	109.5	110.7	0.6	-0.3	0.0	0.0	1.1
Nondurables, manufactured	40	13.716	125.4	127.9	2.4	0.1	0.2	0.0	2.0
Durables, manufactured	41	12.871	94.4	94.6	-0.8	-0.5	-0.2	-0.1	0.2
Nonmanufactured consumer goods	42	0.991	124.0	123.8	-3.5	-0.2	0.5	0.3	-0.2
Footnotes (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

Table 2. U.S. export price indexes and percent changes for selected categories of goods: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	End Use	Relative import- ance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
All commodities		100.000	146.4	147.5	-2.4	-0.9	-0.7	-0.7	0.8
Agricultural commodities		9.751	231.2	228.8	-8.7	-1.0	0.1	-0.2	-1.0
All exports excluding food and fuels (Dec. 2010=100)		75.420	114.1	114.3	0.2	-0.2	0.2	0.2	0.2
All exports excluding fuels (June 2022=100)		84.315	98.9	98.9	-0.5	-0.2	0.1	0.2	0.0
Nonagricultural commodities		90.249	139.9	141.2	-1.6	-0.9	-0.8	-0.8	0.9
Foods, feeds, & beverages	0	8.895	232.5	230.0	-9.3	-0.9	0.1	0.0	-1.1
Agricultural foods, feeds & beverages, excluding distilled beverages	00	8.516	235.0	232.3	-9.0	-1.0	0.1	0.0	-1.1
Nonagricultural foods (fish, distilled beverages)	01	0.378	185.6	186.6	-16.4	-1.2	0.2	-0.2	0.5
Industrial supplies & materials	1	37.619	193.2	196.9	-5.7	-2.1	-1.8	-2.1	1.9
Industrial supplies & materials, durable		10.942	210.4	210.4	-1.8	-1.1	1.1	1.0	0.0
Industrial supplies & materials, nondurable		26.677	184.1	189.1	-7.3	-2.5	-2.9	-3.4	2.7
Agricultural industrial supplies & materials	10	1.207	215.2	214.4	-6.8	-1.0	0.0	-1.6	-0.4
Nonagricultural industrial supplies & materials		36.411	192.6	196.4	-5.7	-2.1	-1.8	-2.1	2.0
Fuels & lubricants	11	15.685	227.1	238.1	-8.8	-4.2	-4.9	-5.4	4.8
Nonagricultural supplies & materials excluding fuels & building materials	12	19.959	191.2	191.0	-3.1	-0.3	0.7	0.5	-0.1
Selected building materials	13	0.767	150.4	147.5	-1.5	1.1	0.1	0.3	-1.9
Capital goods	2	31.768	121.4	122.5	2.3	0.0	-0.1	0.0	0.9
Nonelectrical machinery	21	22.700	101.7	102.2	1.5	0.1	-0.2	0.1	0.5
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	5.547	212.5	218.9	8.6	0.1	0.2	0.1	3.0
Automotive vehicles, parts & engines	3	8.644	126.3	126.8	2.3	0.3	-0.1	0.2	0.4
Vehicles-passenger (Dec. 2023=100)	30	8.644	100.0	100.4	-	-	-	-	0.4
Consumer goods, excluding automotives	4	13.075	118.8	117.4	-0.4	-0.3	-0.2	0.3	-1.2
Nondurables, manufactured	40	7.020	110.0	107.5	-1.8	-0.2	-0.3	0.2	-2.3
Durables, manufactured	41	4.881	119.7	119.8	1.6	-0.6	-0.1	0.4	0.1
Nonmanufactured consumer goods (Dec. 2018=100)	42	1.174	127.1	127.1	-0.2	0.0	0.0	-0.1	0.0
Footnotes (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

Table 3. U.S. import price indexes and percent changes for selected industries: January 2023 to January 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Nonmanufacturing		7.858	144.2	145.2	-6.0	-1.6	-4.6	-6.4	0.7
Agriculture, forestry, fishing and hunting	11	2.189	230.3	238.7	9.3	-1.3	3.1	0.3	3.6
Crop production	111	1.809	244.1	255.1	10.3	-1.1	4.3	0.5	4.5
Animal production (Dec. 2022=100)	112	0.225	110.4	108.2	5.4	-3.0	-2.1	0.4	-2.0
Mining	21	5.669	135.3	134.8	-11.1	-1.7	-7.1	-8.9	-0.4
Oil and gas extraction	211	5.423	133.4	133.2	-11.5	-1.9	-7.3	-9.3	-0.1
Mining (except oil and gas) (Dec. 2022=100)	212	0.246	109.9	103.1	-3.2	2.2	-2.5	-1.2	-6.2
Manufacturing		91.806	121.0	121.8	-1.0	-0.5	-0.2	-0.2	0.7
Manufacturing, part 1	31	11.952	137.7	137.7	-0.6	0.0	0.0	-0.1	0.0
Food manufacturing	311	4.253	183.8	183.7	-1.9	0.2	-0.3	-0.2	-0.1
Beverage and tobacco product manufacturing	312	1.186	141.6	141.2	2.8	-0.3	0.1	0.4	-0.3
Textile mills (Dec. 2023=100)	313	0.323	100.0	100.1	-	-	-	-	0.1
Textile product mills (Dec. 2023=100)	314	0.906	100.0	100.0	-	-	-	-	0.0
Apparel manufacturing	315	3.565	119.0	119.1	-0.3	0.1	0.2	0.1	0.1
Manufacturing, part 2	32	18.928	139.6	142.0	-3.0	-1.5	-1.0	-0.8	1.7
Paper manufacturing	322	1.023	122.3	122.3	-4.0	1.1	0.9	-0.5	0.0
Printing and related support activities (Dec. 2023=100)	323	0.148	100.0	99.9	-	-	-	-	-0.1
Petroleum and coal products manufacturing	324	2.132	127.1	132.5	-8.7	-8.6	-4.7	-5.2	4.2
Chemical manufacturing	325	11.103	149.1	151.8	-2.2	0.3	-0.2	0.1	1.8
Plastics and rubber products manufacturing	326	2.572	131.0	130.8	-1.0	-1.2	-0.2	-0.4	-0.2
Nonmetallic mineral product manufacturing	327	1.114	144.8	145.9	2.5	-0.3	-0.1	0.2	0.8
Manufacturing, part 3	33	60.927	112.1	112.6	-0.4	-0.3	0.0	0.1	0.4
Primary metal manufacturing	331	4.633	217.7	219.3	-6.0	-1.5	1.8	0.6	0.7
Fabricated metal product manufacturing	332	3.260	146.6	144.8	-3.3	-0.4	-0.5	0.4	-1.2
Machinery manufacturing	333	8.087	131.8	132.2	1.5	-0.3	0.1	0.1	0.3
Computer and electronic product manufacturing	334	16.731	72.1	72.2	-2.2	-0.4	0.0	-0.1	0.1
Electrical equipment, appliance, and component manufacturing	335	6.390	125.9	127.1	0.3	-0.4	-0.6	-0.2	1.0
Transportation equipment manufacturing	336	14.027	118.1	119.2	2.2	0.3	0.0	0.0	0.9
Furniture and related product manufacturing	337	1.879	127.3	128.3	-0.4	-0.1	-0.4	-1.0	0.8
Miscellaneous manufacturing	339	5.920	128.1	128.9	1.7	0.0	0.1	0.2	0.6
Footnotes (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

Table 4. U.S. export price indexes and percent changes for selected industries: January 2023 to January 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Nonmanufacturing		14.400	169.5	175.1	-8.8	-2.3	-2.5	-1.7	3.3
Agriculture, forestry, fishing and hunting	11	4.719	191.0	186.9	-15.2	-1.8	0.3	0.5	-2.1
Crop production	111	4.429	201.8	196.9	-16.0	-1.8	0.4	0.6	-2.4
Mining	21	9.680	104.8	111.1	-5.4	-2.5	-3.9	-3.0	6.0
Oil and gas extraction (Dec. 2021=100)	211	8.363	92.7	98.9	-4.5	-3.1	-5.0	-2.9	6.7
Mining (except oil and gas)	212	1.318	132.8	135.2	-10.7	1.1	2.9	-2.9	1.8
Manufacturing		83.959	132.7	133.1	-1.0	-0.6	-0.4	-0.7	0.3
Manufacturing, part 1	31	6.564	172.1	171.3	-2.8	-0.3	-0.1	-0.1	-0.5
Food manufacturing	311	4.733	203.0	201.9	-3.1	-0.5	-0.2	-0.2	-0.5
Beverage and tobacco product manufacturing	312	0.545	143.5	142.6	-2.0	0.1	1.3	0.5	-0.6
Manufacturing, part 2	32	25.561	132.2	132.0	-5.7	-1.6	-1.7	-2.4	-0.2
Wood product manufacturing (Dec. 2017=100)	321	0.427	117.3	118.2	0.7	0.4	0.4	0.4	0.8
Petroleum and coal products manufacturing	324	5.662	136.6	139.6	-14.4	-6.2	-6.1	-9.7	2.2
Chemical manufacturing	325	14.780	131.6	130.2	-2.5	0.1	-0.1	-0.2	-1.1
Plastics and rubber products manufacturing	326	2.265	134.2	134.8	0.5	-0.1	-0.1	0.1	0.4
Nonmetallic mineral product manufacturing	327	0.748	132.8	132.2	1.9	0.2	-0.2	0.1	-0.5
Manufacturing, part 3	33	51.833	129.0	129.8	1.6	-0.2	0.2	0.2	0.6
Primary metal manufacturing	331	4.420	198.9	197.8	-4.1	-3.4	3.1	0.9	-0.6
Machinery manufacturing	333	9.558	150.3	151.3	3.1	0.0	-0.1	0.0	0.7
Computer and electronic product manufacturing	334	12.703	82.9	83.1	-0.5	0.0	-0.2	0.0	0.2
Transportation equipment manufacturing	336	13.233	146.1	148.2	4.7	0.3	0.1	0.2	1.4
Furniture and related product manufacturing (Dec. 2023=100)	337	0.351	100.0	101.8	-	-	-	-	1.8
Miscellaneous manufacturing	339	5.032	138.8	139.9	3.7	0.1	0.1	0.4	0.8
Footnotes (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

Table 5. U.S. import price indexes and percent changes for selected categories of goods: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative importance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Live animals; animal products	I	1.393	221.3	223.7	-1.6	-2.0	-2.8	-0.8	1.1
Meat and edible meat offal	02	0.403	317.4	318.7	7.7	-0.7	-2.6	1.1	0.4
Fish and crustaceans, molluscs and other aquatic invertebrates	03	0.645	135.1	139.1	-12.7	-2.6	-3.6	-2.8	3.0
Vegetable products	II	2.208	262.6	274.4	6.8	-0.2	2.9	0.5	4.5
Edible vegetables, roots, and tubers	07	0.545	537.2	577.7	13.1	-2.5	3.5	-1.1	7.5
Edible fruit and nuts; peel of citrus fruit or melons	08	0.805	133.9	148.9	18.6	1.8	5.0	0.7	11.2
Coffee, tea, mate and spices	09	0.397	308.1	286.8	-4.1	-1.6	2.7	3.6	-6.9
Animal or vegetable fats and oils (Dec. 2009=100)	III	0.454	148.3	144.1	-6.7	1.4	-0.3	0.6	-2.8
Animal or vegetable fats and oils and their cleavage products; prepared (Dec. 2023=100)	15	0.454	100.0	97.2	-	-	-	-	-2.8
Prepared foodstuffs, beverages, and tobacco	IV	3.486	198.6	199.0	3.2	0.1	0.8	0.3	0.2
Sugars and sugar confectionary (Dec. 2021=100)	17	0.237	121.7	123.9	12.9	2.8	0.4	0.7	1.8
Cocoa and cocoa preparations (Dec. 2009=100)	18	0.265	135.6	141.5	24.9	0.9	2.8	3.6	4.4
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.499	100.0	100.2	-	-	-	-	0.2
Miscellaneous edible preparations (Dec. 2022=100)	21	0.426	99.6	98.8	-1.2	1.3	0.6	0.1	-0.8
Beverages, spirits, and vinegar	22	1.124	154.6	154.1	2.4	-0.3	-0.2	0.3	-0.3
Mineral products	V	7.914	272.3	275.3	-10.5	-4.0	-6.2	-7.6	1.1
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	7.601	265.1	268.7	-10.7	-4.3	-6.4	-7.9	1.4
Products of the chemical or allied industries	VI	10.758	170.7	173.4	-1.4	0.2	-0.1	0.0	1.6
Organic chemicals	29	2.365	142.3	137.1	-7.5	0.7	-0.4	-0.8	-3.7
Pharmaceutical products	30	5.489	147.8	154.9	5.5	-0.1	0.3	0.1	4.8
Fertilizers (Dec. 2022=100)	31	0.219	61.1	62.3	-36.6	1.4	-3.9	0.2	2.0
Tanning extracts; dye, pigments, varnish, paints & putty (Dec. 2022=100)	32	0.201	101.3	101.4	0.7	-0.9	-1.0	0.2	0.1
Miscellaneous chemical products	38	0.933	115.4	114.7	-6.1	0.0	-1.4	-0.8	-0.6
Plastics and articles thereof; rubber and articles thereof	VII	3.798	153.5	153.6	-1.6	-0.5	-0.2	-0.4	0.1
Plastics and articles thereof	39	2.531	150.4	150.9	-3.7	-0.9	-0.2	-0.8	0.3
Rubber and articles thereof	40	1.267	162.4	162.0	2.5	0.3	-0.2	0.2	-0.2
Printed matter (Dec. 2023=100)	49	0.171	100.0	100.0	-	-	-	-	0.0
Textile and textile articles	XI	4.593	120.5	120.6	-0.2	-0.1	0.2	0.0	0.1
Articles of apparel and clothing accessories, knitted or crocheted (Dec. 2023=100)	61	1.968	100.0	100.2	-	-	-	-	0.2
Articles of apparel and clothing accessories, not knitted or crocheted	62	1.430	126.6	126.7	-0.7	0.1	0.0	0.0	0.1
Made-up or worn textile articles (Dec. 2023=100)	63	0.630	100.0	99.6	-	-	-	-	-0.4
Headgear, umbrellas, artificial flowers, etc.	XII	1.472	126.8	126.6	0.1	0.2	0.1	-0.2	-0.2
Footwear and parts of such articles	64	1.202	123.7	123.8	0.4	0.2	0.2	-0.3	0.1
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.950	136.9	137.8	2.2	-0.2	-0.2	0.1	0.7
Articles of stone, plaster, cement, asbestos, or mica (Dec. 2020=100)	68	0.332	101.3	101.1	0.0	-0.2	-0.2	-0.2	-0.2
Glass and glassware (Dec. 2021=100)	70	0.340	107.8	110.1	7.2	-0.3	-0.1	0.2	2.1
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	3.081	225.7	225.8	-4.8	-2.4	2.8	1.0	0.0
Pearls, precious stones, precious metals jewelry, coin (Dec. 2023=100)	71	3.081	100.0	100.0	-	-	-	-	0.0
Base metals and articles of base metals	XV	5.899	227.1	227.1	-4.3	-0.4	-0.4	0.3	0.0
Articles of iron or steel	73	1.784	194.2	193.8	-5.8	-0.7	-0.8	0.0	-0.2
Copper and articles thereof	74	0.497	375.3	380.0	0.6	-2.3	1.7	2.6	1.3
Aluminum and articles thereof	76	1.083	187.4	183.4	-5.5	-0.1	-0.6	1.1	-2.1
Tools, implements, cutlery, spoons and forks, of base metal; parts thereof	82	0.418	132.3	133.1	1.4	-0.2	-0.1	0.2	0.6
Miscellaneous articles of base metal	83	0.524	143.5	142.9	-5.9	-1.5	-0.5	-0.1	-0.4
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	30.810	82.1	82.4	-0.6	-0.2	-0.1	-0.1	0.4
Machinery and mechanical appliances; parts thereof	84	15.433	89.3	89.7	-0.2	-0.2	-0.1	-0.1	0.4
Electrical machinery and equip, sound and TV recorders & reproducers, parts	85	15.377	75.3	75.6	-0.8	-0.4	0.0	-0.3	0.4
Vehicles, aircraft, vessels and associated transport equipment	XVII	11.863	122.7	123.7	1.7	0.4	0.0	0.0	0.8
Motor vehicles and their parts	87	11.094	121.9	122.8	1.7	0.3	0.1	0.0	0.7
Aircraft, spacecraft, and parts thereof (Dec. 2020=100)	88	0.628	107.2	107.5	-0.4	0.0	0.0	0.0	0.3
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	4.172	108.9	110.0	3.6	-0.1	-0.1	0.6	1.0
Optical, photographic, measuring and medical instruments	90	3.868	104.4	105.4	3.4	-0.1	0.0	0.5	1.0
Miscellaneous manufactured articles	XX	4.601	119.5	120.2	0.4	-0.2	-0.2	-0.3	0.6
Furniture & stuffed furnishings; lamps & lighting fittings, nesoi; prefab bldgs	94	2.560	126.4	127.0	-0.5	0.0	-0.5	-0.3	0.5
Toys, games and sports equipment; parts and accessories thereof	95	1.733	106.4	106.9	0.6	-0.3	-0.1	0.0	0.5
Miscellaneous manufactured articles	96	0.307	147.6	151.4	8.8	-0.1	0.0	0.0	2.6
Footnotes (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

Table 6. U.S. export price indexes and percent changes for selected categories of goods: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative import- ance Dec. 2023(1)	Index		Percent change
			Dec. 2023	Jan. 2024	Annual	Monthly
					Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Live animals; animal products	I	1.932	257.9	257.5	-5.9	0.9	-1.3	-0.4	-0.2
Meat & edible meat offal (Dec. 2006=100)	02	1.231	220.4	223.3	5.9	1.7	-1.7	0.1	1.3
Vegetable products	II	4.332	250.2	243.7	-15.9	-2.2	-0.1	0.9	-2.6
Edible fruit and nuts; peel of citrus fruit or melons	08	0.850	146.8	144.6	5.2	1.6	5.6	4.0	-1.5
Cereals	10	1.217	244.7	237.7	-28.6	0.9	-3.2	-2.0	-2.9
Oilseeds and misc. grains, seeds, fruits, plants, straw and fodder	12	1.828	265.7	259.4	-17.8	-6.4	1.5	-0.6	-2.4
Prepared foodstuffs, beverages, and tobacco	IV	3.020	187.7	187.2	-0.6	-0.6	0.6	0.6	-0.3
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.299	100.0	100.0	-	-	-	-	0.0
Miscellaneous edible preparations (Dec. 2017=100)	21	0.639	119.2	124.2	8.1	-1.0	-1.4	2.7	4.2
Residues and waste from the food industries; prepared animal feed	23	0.733	301.9	287.3	-11.4	-0.1	3.3	0.6	-4.8
Mineral products	V	15.400	272.6	285.1	-8.8	-4.1	-4.8	-5.6	4.6
Ores, slag and ash (Dec. 2012=100)	26	0.412	121.3	120.0	-13.4	0.6	-1.6	-1.1	-1.1
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	14.792	260.9	273.4	-8.8	-4.3	-4.9	-5.8	4.8
Products of the chemical or allied industries	VI	12.709	158.9	156.8	-3.4	-0.2	-0.6	-0.3	-1.3
Pharmaceutical products	30	4.590	107.8	103.6	-2.9	-0.4	-0.1	0.2	-3.9
Essential oils and resinoids; perfumery cosmetic or toilet preparations	33	0.826	148.3	151.5	3.9	0.0	0.0	-0.1	2.2
Miscellaneous chemical products	38	2.312	192.1	191.2	1.1	-0.1	-0.3	0.1	-0.5
Rubber and articles thereof	40	0.842	173.4	174.1	3.4	1.8	-0.2	0.4	0.4
Wood, wood charcoal, cork, straw, baskets and wickerwork (Dec. 2014=100)	IX	0.468	107.1	108.2	-3.7	-0.7	0.4	0.5	1.0
Wood and articles of wood; wood charcoal (Dec. 2023=100)	44	0.468	100.0	101.0	-	-	-	-	1.0
Woodpulp and recovered paper (Dec. 2019=100)	47	0.530	157.3	159.3	-7.9	11.9	0.5	4.4	1.3
Cotton, including yarns and woven fabrics thereof	52	0.495	156.4	155.9	-10.4	-1.0	-1.3	-2.9	-0.3
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.749	152.0	154.0	6.1	2.0	-0.1	0.1	1.3
Glass and glassware (Dec. 2019=100)	70	0.359	114.9	114.3	3.7	0.3	0.0	0.3	-0.5
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	4.848	312.2	314.2	-2.0	-2.9	4.0	1.2	0.6
Pearls, precious stones, precious metals; jewelry, coin (Dec. 2023=100)	71	4.848	100.0	100.6	-	-	-	-	0.6
Base metals and articles of base metals	XV	4.487	208.7	208.2	-0.3	-1.0	-1.4	1.9	-0.2
Copper and articles thereof	74	0.538	256.3	258.0	-1.4	-4.3	-0.5	2.6	0.7
Aluminum and articles thereof	76	0.708	144.5	145.5	-2.0	2.7	0.0	0.7	0.7
Miscellaneous articles of base metal (Dec. 2022=100)	83	0.337	104.7	103.1	2.9	1.7	0.0	-0.1	-1.5
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	26.415	106.5	107.6	2.0	-0.1	-0.1	0.0	1.0
Machinery and mechanical appliances; parts thereof	84	15.608	130.8	133.0	4.4	0.2	-0.1	-0.1	1.7
Electrical machinery and equipment and parts and accessories thereof	85	10.807	81.2	81.3	-1.2	-0.4	-0.2	0.1	0.1
Vehicles, aircraft, vessels and associated transport equipment	XVII	9.760	152.9	153.5	2.5	0.3	0.0	0.2	0.4
Motor vehicles and their parts	87	7.279	127.6	128.1	2.2	0.3	0.0	0.2	0.4
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	5.810	118.5	119.3	3.9	0.1	0.0	0.1	0.7
Optical, photographic, measuring and medical instruments (Dec. 2023=100)	90	5.757	100.0	100.6	-	-	-	-	0.6
Miscellaneous manufactured articles	XX	1.167	134.4	135.3	-0.7	0.1	-0.6	0.1	0.7
Furniture; stuffed furnishings; lamps and lighting fittings nesoi	94	0.576	147.8	149.7	0.1	0.0	0.0	0.0	1.3
Toys, games and sports equipment; parts and accessories thereof	95	0.453	118.3	118.4	0.7	0.1	-0.2	0.4	0.1
Footnotes (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

Table 7. U.S. import price indexes and percent changes by locality of origin: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Dec. 2023(1)	Index		Percent change
		Dec. 2023	Jan. 2024	Annual	Monthly
				Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Industrialized Countries(2)	100.000	142.8	143.8	-2.0	-0.6	-1.1	-1.1	0.7
Nonmanufacturing	9.949	227.7	225.2	-15.0	-3.0	-7.3	-10.2	-1.1
Manufacturing	89.662	135.7	136.9	-0.4	-0.4	-0.2	0.1	0.9
Canada	100.000	165.6	165.2	-9.0	-1.3	-3.3	-3.7	-0.2
Nonmanufacturing	29.852	222.3	219.7	-16.3	-3.2	-7.5	-10.9	-1.2
Manufacturing	69.276	154.2	154.3	-5.6	-0.4	-1.0	-0.3	0.1
European Union	100.000	155.5	157.1	1.7	-0.3	-0.2	0.3	1.0
Manufacturing	99.304	151.2	152.8	1.7	-0.3	-0.2	0.3	1.1
France (Dec. 2003=100)	100.000	150.6	151.3	4.4	-0.7	-0.1	0.3	0.5
Germany (Dec. 2003=100)	100.000	123.7	123.7	-1.8	-0.7	0.1	0.4	0.0
United Kingdom (Dec. 2003=100)	100.000	136.6	137.3	0.1	-0.4	-0.3	0.0	0.5
Latin America(3)	100.000	170.0	172.0	2.1	-0.8	-0.1	-0.2	1.2
Nonmanufacturing	13.674	331.7	341.9	8.1	-1.1	-1.6	-2.5	3.1
Manufacturing	86.051	137.0	138.2	1.2	-0.7	0.2	0.2	0.9
Mexico (Dec. 2003=100)	100.000	144.1	146.0	3.0	-1.2	-0.1	-0.4	1.3
Nonmanufacturing (Dec. 2008=100)	8.277	167.3	180.2	18.9	-3.9	-2.9	-4.3	7.7
Manufacturing (Dec. 2008=100)	91.454	98.6	99.4	1.8	-0.9	0.1	0.0	0.8
Pacific Rim (Dec. 2003=100)(4)	100.000	102.2	102.2	-1.8	-0.2	-0.2	-0.2	0.0
China (Dec. 2003=100)	100.000	101.0	100.7	-2.9	-0.1	-0.2	-0.2	-0.3
Japan	100.000	101.5	102.6	1.4	0.1	0.1	-0.1	1.1
Taiwan (Dec. 2018=100)	100.000	108.8	107.6	-3.4	-0.2	-0.3	-0.2	-1.1
Asian NICs(5)	100.000	94.6	94.0	-3.1	-0.3	-0.5	-0.5	-0.6
ASEAN (Dec. 2003=100)(6)	100.000	100.1	100.1	-3.4	0.0	-0.5	-0.6	0.0
Asia Near East (Dec. 2003=100)(7)	100.000	206.7	207.6	-6.2	-0.9	-3.8	-4.0	0.4
Footnotes (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

Table 8. U.S. export price indexes and percent changes by locality of destination: January 2023 to January 2024 [December 2017=100, unless otherwise noted]

Description	Relative import- ance Dec. 2023(1)	Index		Percent change
		Dec. 2023	Jan. 2024	Annual	Monthly
				Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Industrialized Countries(2)	100.000	119.4	120.1	0.0	-0.7	-0.6	-0.1	0.6
Nonmanufacturing	14.478	136.0	138.2	-4.0	-1.7	-5.1	-1.5	1.6
Manufacturing	83.967	117.7	118.1	0.7	-0.5	0.0	0.1	0.3
Canada	100.000	128.0	127.3	-0.9	-0.3	-0.3	-0.1	-0.5
Nonmanufacturing (Dec. 2020=100)	7.481	138.0	135.8	-0.7	-0.1	-0.8	-0.1	-1.6
Manufacturing (Dec. 2020=100)	90.795	119.5	118.8	-1.2	-0.2	-0.5	0.0	-0.6
European Union	100.000	116.6	118.7	1.3	-0.8	-1.3	-0.3	1.8
Nonmanufacturing	22.308	134.7	137.9	-0.1	-4.5	-6.7	-2.5	2.4
Manufacturing	76.157	113.3	115.2	1.9	0.1	-0.3	-0.1	1.7
Germany	100.000	117.7	123.1	6.4	-1.0	0.6	0.3	4.6
Latin America(3)	100.000	120.6	121.5	-4.8	-1.2	-1.5	-2.0	0.7
Nonmanufacturing	7.605	141.0	145.3	-13.5	3.0	-1.5	-0.5	3.0
Manufacturing	91.799	119.2	119.8	-3.9	-1.6	-1.6	-2.2	0.5
Mexico	100.000	120.8	121.7	-3.9	-0.8	-1.8	-1.5	0.7
Nonmanufacturing	6.410	120.1	121.7	-20.5	5.1	-2.2	-2.0	1.3
Manufacturing	92.731	121.8	122.6	-2.2	-1.3	-1.8	-1.5	0.7
Pacific Rim(4)	100.000	112.2	112.7	-2.5	-0.6	-0.6	-0.3	0.4
Nonmanufacturing	20.031	114.6	115.5	-10.5	-2.0	-4.9	-1.2	0.8
Manufacturing	78.738	113.2	113.6	0.1	-0.1	0.4	-0.1	0.4
China	100.000	108.1	107.1	-3.4	-0.5	-0.6	0.1	-0.9
Nonmanufacturing	24.886	106.9	104.0	-10.3	-2.2	-2.6	0.0	-2.7
Manufacturing	73.655	110.9	110.5	-0.8	0.4	0.3	0.0	-0.4
Japan	100.000	108.9	108.1	-7.9	0.5	-1.7	0.1	-0.7
Nonmanufacturing	21.000	118.0	118.6	-14.7	3.2	-5.4	2.3	0.5
Manufacturing	77.839	106.7	105.6	-4.5	-0.4	-0.5	-0.7	-1.0
Footnotes (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

Table 9. U.S. terms of trade indexes and percent changes by locality: January 2023 to January 2024(1) [December 2017=100, unless otherwise noted]

Description	Index		Percent change
	Dec. 2023	Jan. 2024	Annual	Monthly
			Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Industrialized Countries(2)	102.3	102.2	2.1	-0.1	0.5	1.0	-0.1
Canada	101.6	101.3	8.9	1.1	3.1	3.8	-0.3
European Union	100.9	101.7	-0.4	-0.4	-1.2	-0.7	0.8
Germany	109.5	114.5	8.3	-0.3	0.5	-0.2	4.6
Latin America(3)	105.6	105.2	-6.7	-0.4	-1.5	-1.9	-0.4
Mexico	108.1	107.5	-6.8	0.5	-1.7	-1.1	-0.6
Pacific Rim(4)	108.0	108.5	-0.7	-0.4	-0.5	-0.1	0.5
China	107.1	106.5	-0.6	-0.4	-0.4	0.3	-0.6
Japan	102.5	100.6	-9.2	0.4	-1.8	0.2	-1.9
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: January 2023 to January 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Dec. 2023(1)	Index		Percent change
		Dec. 2023	Jan. 2024	Annual	Monthly
				Jan. 2023 to Jan. 2024	Sep. 2023 to Oct. 2023	Oct. 2023 to Nov. 2023	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024
Air Freight
Import Air Freight	100.000	270.2	237.5	-5.5	-0.6	3.9	13.3	-12.1
Europe (Dec. 2003=100)	21.912	182.7	178.7	-34.5	-0.3	-3.3	2.1	-2.2
Asia	77.180	288.6	241.6	9.0	-0.4	6.5	17.3	-16.3
Export Air Freight	100.000	174.6	179.3	-9.4	-4.9	3.4	-1.2	2.7
Europe (Dec. 2006=100)	27.324	130.4	132.5	-17.5	-6.4	-2.3	-1.3	1.6
Asia (Dec. 2011=100)	51.018	143.8	147.1	-4.1	-6.4	8.1	-0.5	2.3
Inbound Air Freight	100.000	184.8	176.1	-6.5	0.5	3.2	6.7	-4.7
Europe (Dec. 2003=100)	25.919	147.4	151.5	-19.2	-3.0	-0.6	2.6	2.8
Asia	62.563	184.4	167.9	1.5	0.0	7.0	9.7	-8.9
Outbound Air Freight	100.000	174.1	174.6	-9.9	0.2	-1.9	-1.7	0.3
Europe (Dec. 2003=100)	33.893	163.3	165.8	-14.6	-3.0	-2.2	-0.9	1.5
Asia	45.746	195.3	192.7	-7.1	2.6	-2.0	-2.0	-1.3
Air Passenger Fares
Import Air Passenger Fares	100.000	189.7	178.0	2.6	2.5	-0.4	6.9	-6.2
Europe	43.741	192.8	195.1	-0.7	-0.8	-7.6	1.6	1.2
Asia	13.424	198.0	162.0	-5.1	3.8	0.2	11.4	-18.2
Latin America/Caribbean	10.760	172.5	136.4	-10.3	8.2	5.3	9.2	-20.9
Export Air Passenger Fares	100.000	174.9	193.8	-6.6	-0.6	1.3	-3.4	10.8
Europe	35.173	199.7	213.6	-3.8	-3.8	-8.0	-5.1	7.0
Asia	12.711	191.2	220.6	-4.0	-2.9	2.6	-3.8	15.4
Latin America/Caribbean	32.380	175.4	205.7	-7.1	0.5	4.9	-4.5	17.3
Footnotes (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

                                                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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