U.S. Import and Export Price Indexes News Release

Transmission of material in this release is embargoed until                                      USDL-24-0656
8:30 a.m. (ET) Friday, April 12, 2024

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


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

Prices for U.S. imports advanced 0.4 percent in March following a 0.3-percent rise the previous month, the 
U.S. Bureau of Labor Statistics reported today. Higher prices for fuel and nonfuel imports contributed to the 
overall increase. U.S. export prices rose 0.3 percent in March, after advancing 0.7 percent in February.

Imports 

U.S. import prices increased for the third consecutive month in March, advancing 1.4 percent over the first 
quarter of 2024. The quarterly increase was the largest 3-month rise since the index rose 3.9 percent from 
February to May 2022. Prices for U.S. imports advanced 0.4 percent for the year ended in March, the first 
12-month increase since January 2023. (See table 1.)

Fuel Imports: The price index for import fuel rose 4.7 percent in March, after increasing 1.3 percent the 
previous month. The March advance was the largest 1-month rise since the index increased 6.4 percent in 
September 2023. Higher petroleum prices in March more than offset lower natural gas prices. Prices for 
import fuel rose 4.8 percent over the past year, the first 12-month advance since January 2023. Prices for 
import petroleum increased 6.0 percent in March, the largest monthly advance since September 2023. 
Petroleum prices rose 7.5 percent for the year ended in March, the largest 12-month increase since the index 
last advanced on a 12-month basis in December 2022. In contrast, import natural gas prices declined 31.9 
percent in March following a 14.3-percent drop in February. The March decrease was the largest monthly 
decline since February 2023. Prices for natural gas fell 50.3 percent over the past year.   

All Imports Excluding Fuel: Prices for nonfuel imports ticked up 0.1 percent in March following a 0.2-
percent advance in February. Nonfuel import prices last recorded a monthly decline in October 2023. 
Higher prices for foods, feeds, and beverages; nonfuel industrial supplies and materials; and automotive 
vehicles in March more than offset lower prices for consumer goods and capital goods. Prices for nonfuel 
imports were unchanged for the year ended in March.        

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices rose 1.6 percent in March, the largest 1-
month advance since July 2023. Higher prices for vegetables, meat, and bakery and confectionary products 
in March more than offset lower fruit prices.     

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials 
increased 0.6 percent in March, after decreasing 0.5 percent the previous month. The March advance was 
the largest monthly rise since December 2022. Higher prices for both finished and unfinished metals more 
than offset lower chemicals prices. 

Finished Goods: Prices for each of the major finished goods import categories were mixed in March. 
Consumer goods prices declined 0.3 percent following a 0.4-percent increase in February. Prices for capital 
goods fell 0.3 percent in March, the largest 1-month decrease since November 2019. The March drop was 
driven by a 3.5-percent decline in electric apparatus and parts not elsewhere specified. In contrast, 
automotive vehicles prices rose 0.2 percent in March, after advancing 0.1 percent the previous month.            

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

Month	IMPORTS			EXPORTS
	All imports	Fuel imports	Nonfuel imports	All exports	Agri- cultural exports	Non- agricultural exports
2023
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	-0.2	-0.9	-1.0	-0.9
November	-0.5	-6.3	0.1	-0.7	0.0	-0.8
December	-0.7	-8.0	0.1	-0.7	(r)-0.3	-0.7
2024
January	(r)0.7	(r)1.5	(r)0.6	(r)0.8	(r)-1.1	(r)1.0
February	0.3	(r)1.3	0.2	(r)0.7	(r)0.7	(r)0.6
March	0.4	4.7	0.1	0.3	-0.7	0.4
Mar. 2022 to 2023	-4.7	-28.8	-1.5	-5.0	-3.1	-5.2
Mar. 2023 to 2024	0.4	4.8	0.0	-1.4	-8.1	-0.6
Footnotes (r) Revised

Exports 

Prices for U.S. exports advanced 0.3 percent in March, after rising 0.7 percent in February and 0.8 percent 
in January. Higher nonagricultural prices in March more than offset lower agricultural prices. Despite the 
recent increases, U.S. export prices fell 1.4 percent from March 2023 to March 2024, the smallest 12-month 
drop since the index declined 0.8 percent for the year ended February 2023. (See table 2.)

Agricultural Exports: Agricultural export prices decreased 0.7 percent in March following a 0.7-percent 
increase the previous month. Lower prices for soybeans, corn, and wheat in March more than offset higher 
meat prices. Prices for agricultural exports declined 8.1 percent for the year ended in March. Price decreases 
for soybeans, corn, and wheat over the past year led the 12-month decline in agricultural prices.          

All Exports Excluding Agriculture: The price index for nonagricultural exports rose 0.4 percent in March, 
after increasing 0.6 percent in February. Nonagricultural export prices advanced 2.0 percent for the first 
quarter of 2024. Higher prices for nonagricultural industrial supplies and materials, consumer goods, and 
capital goods in March more than offset lower prices for nonagricultural foods. In spite of the recent 
increases, nonagricultural export prices fell 0.6 percent over the past 12 months, the smallest over the year 
decline since the index last advanced on an over-the-year basis in January 2023.       

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 
materials increased 0.6 percent in March following a 1.3-percent rise the previous month. The March 
advance was led by a 3.4-percent rise in nonferrous metals prices. 

Finished Goods: Prices for the major finished goods export categories were mostly up in March. Export 
consumer goods prices increased 0.5 percent, after being unchanged in February. The March advance was 
the largest monthly increase since February 2023. Higher prices in March for jewelry and household and 
kitchen appliances drove the increase in consumer goods prices. Prices for export capital goods rose 0.2 
percent in March following a 0.3-percent advance the previous month. Higher prices for semiconductors and 
telecommunications equipment in March more than offset lower computer prices. The price index for 
automotive vehicles was unchanged for the second consecutive month in March.    

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

Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Prices for imports from China edged down 0.1 percent for the second 
consecutive month in March. The price index for imports from China last increased on a 1-month basis in 
October 2022. The price index for imports from China declined 2.6 percent for the year ended in March. 
Import prices from Japan fell 0.7 percent in March following a 0.1-percent drop in February and a 1.1-
percent advance in January. The March decrease was the largest monthly decline since the index fell 0.8 
percent in April 2013. Despite the March drop, prices for imports from Japan rose 1.2 percent over the past 
year. In contrast, the price indexes for imports from Canada and Mexico increased in March, up 0.5 percent 
and 0.6 percent, respectively. Import prices from the European Union ticked up 0.1 percent in March, after 
advancing 0.4 percent the previous month. (See table 7.)
	
Exports by Locality of Destination: The price index for exports to China ticked up 0.1 percent in March 
following a 0.8-percent advance in February. In spite of the recent increases, prices for exports to China 
declined 4.3 percent for the year ended in March. Export prices to Japan advanced 0.2 percent in March, 
after rising 1.3 percent the previous month. The price index for exports to Japan has not recorded a monthly 
decrease since November 2023. Despite the recent increases, prices for exports to Japan fell 4.9 percent over 
the past 12 months. Export prices to Canada advanced 0.3 percent in March, the largest 1-month increase 
since September 2023. Prices for exports to Canada fell 0.9 percent over the past year. The price index for 
exports to Mexico rose 0.2 percent in March and export prices to the European Union advanced 1.3 percent 
over the same period. (See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on country, region, or grouping and measure 
the change in the purchasing power of exports relative to imports. U.S. terms of trade with China rose 0.2 
percent in March, after increasing 0.8 percent the previous month. Both higher export prices to China and 
lower import prices from China in March contributed to the advance in the index for U.S. terms of trade. 
Despite the recent increases, U.S. terms of trade with China fell 1.7 percent over the past 12 months. U.S. 
terms of trade with Japan rose 0.9 percent in March following a 1.4-percent increase in February. In spite of 
the recent advances, U.S. terms of trade with Japan fell 6.0 percent over the past year. The index for U.S. 
terms of trade with Canada decreased 0.2 percent in March, after declining 0.9 percent the previous month. 
U.S. terms of trade with Mexico fell 0.4 percent in March and, in contrast, the index for U.S. terms of trade 
with the European Union rose 1.2 percent over the same period. (See table 9.)

Import and Export Services

Imports: Import air passenger fares rose 0.3 percent in March, after being unchanged the previous month. 
Higher Asian and Latin American/Caribbean fares in March more than offset lower European fares. Import 
air passenger fares declined 1.1 percent over the past 12 months. Prices for import air freight fell 1.6 percent 
in March following a 4.7-percent drop in February and a 15.2-percent decrease in January. The March 
decline was primarily driven by a 2.5-percent drop in Asian air freight prices. Import air freight prices 
decreased 8.5 percent for the year ended in March. (See table 10.)

Exports: Export air passenger fares increased 4.0 percent in March, after falling 10.1 percent in February 
and rising 10.8 percent in January. Higher European, Latin American/Caribbean, and Asian fares all 
contributed to the March advance. The index for export air passenger fares declined 4.9 percent over the 
past year. Export air freight prices fell 1.3 percent in March, the largest monthly decrease since October 
2023. The March decline was led by a 1.8-percent drop in Asian air freight prices. Export air freight prices 
fell 4.6 percent from March 2023 to March 2024.      
		
U.S. Import and Export Price Index data for April 2024 are scheduled for release on Thursday, May 
16, 2024, at 8:30 a.m. (ET).

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

Description	End Use	Relative import- ance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
All commodities		100.000	139.8	140.4	0.4	-0.7	0.7	0.3	0.4
All imports excluding food and fuels (Dec. 2010=100)		84.763	108.2	108.2	-0.4	0.0	0.7	0.1	0.0
All imports excluding petroleum		92.487	124.0	124.0	-0.2	0.0	0.6	0.1	0.0
All imports excluding fuels (Dec. 2001=100)		91.997	127.9	128.0	0.0	0.1	0.6	0.2	0.1
Foods, feeds, & beverages	0	7.234	218.5	221.9	4.5	-0.2	1.5	0.3	1.6
Agricultural foods, feeds & beverages, excluding distilled beverages	00	5.893	245.6	250.7	7.7	0.1	1.7	-0.3	2.1
Nonagricultural foods (fish, distilled beverages)	01	1.342	153.1	152.3	-7.7	-1.5	0.4	3.1	-0.5
Industrial supplies & materials	1	22.618	236.6	241.4	-1.1	-2.7	0.5	0.2	2.0
Industrial supplies & materials excluding petroleum		15.131	197.1	197.0	-5.2	0.4	-0.1	-0.7	-0.1
Industrial supplies & materials excluding fuels (Dec. 2001=100)		14.603	220.5	221.8	-4.1	0.5	0.1	-0.5	0.6
Industrial supplies & materials, durable		9.274	213.5	215.8	-4.6	0.4	0.1	-0.5	1.1
Industrial supplies & materials nondurable excluding petroleum		5.831	178.5	175.4	-6.2	0.3	-0.1	-1.1	-1.7
Fuels & lubricants	10	8.003	272.0	284.7	4.8	-8.0	1.5	1.3	4.7
Petroleum & petroleum products	100	7.513	292.1	309.6	7.5	-8.4	1.8	1.9	6.0
Crude petroleum	10000	5.143	300.8	315.0	10.7	-10.3	0.8	3.8	4.7
Fuels, n.e.s.-coals & gas	101	0.332	157.9	121.9	-40.7	-2.9	-3.6	-11.0	-22.8
Natural gas	10110	0.234	134.4	91.5	-50.3	-3.6	-4.8	-14.3	-31.9
Paper & paper base stocks	11	0.531	137.6	136.4	-5.0	-0.2	-0.6	-1.3	-0.9
Materials associated with nondurable supplies & materials	12	4.810	194.4	193.9	-3.2	0.8	0.1	-0.2	-0.3
Unfinished metals related to durable goods	14	3.368	310.5	314.3	-7.8	0.4	1.1	-1.7	1.2
Finished metals related to durable goods	15	2.560	213.9	219.0	1.4	1.5	-1.5	-0.5	2.4
Capital goods	2	28.816	93.7	93.4	-0.3	-0.1	0.4	0.2	-0.3
Nonelectrical machinery	21	22.748	84.1	84.2	-0.7	-0.1	0.1	0.0	0.1
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	1.658	157.7	160.3	6.2	0.1	1.6	1.4	1.6
Automotive vehicles, parts & engines	3	13.634	120.1	120.3	2.4	0.0	0.8	0.1	0.2
Automotive vehicles, parts and engines, 2 digit (Dec. 2023=100)	30	13.634	100.8	101.0	-	-	0.8	0.0	0.2
Consumer goods, excluding automotives	4	27.699	111.0	110.7	0.5	-0.1	1.1	0.4	-0.3
Nondurables, manufactured	40	13.873	128.0	128.0	2.3	0.0	2.0	0.2	0.0
Durables, manufactured	41	12.773	94.6	94.4	-1.3	-0.1	0.1	0.1	-0.2
Nonmanufactured consumer goods	42	1.052	132.8	125.0	-2.3	0.3	-0.2	7.3	-5.9
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: March 2023 to March 2024 [2000=100, unless otherwise noted]

Description	End Use	Relative import- ance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
All commodities		100.000	148.6	149.0	-1.4	-0.7	0.8	0.7	0.3
Agricultural commodities		9.541	229.6	227.9	-8.1	-0.3	-1.1	0.7	-0.7
All exports excluding food and fuels (Dec. 2010=100)		74.726	114.7	115.3	0.3	0.3	0.1	0.3	0.5
All exports excluding fuels (June 2022=100)		83.437	99.3	99.6	-0.4	0.3	-0.1	0.4	0.3
Nonagricultural commodities		90.459	142.3	142.8	-0.6	-0.7	1.0	0.6	0.4
Foods, feeds, & beverages	0	8.711	231.1	228.4	-8.9	0.0	-1.1	0.5	-1.2
Agricultural foods, feeds & beverages, excluding distilled beverages	00	8.329	233.3	230.4	-8.8	0.0	-1.1	0.5	-1.2
Nonagricultural foods (fish, distilled beverages)	01	0.382	190.0	188.9	-12.2	0.6	0.7	0.8	-0.6
Industrial supplies & materials	1	38.268	199.5	200.8	-3.2	-2.0	1.9	1.3	0.7
Industrial supplies & materials, durable		10.806	211.0	213.6	-0.3	1.1	0.0	0.2	1.2
Industrial supplies & materials, nondurable		27.462	192.4	193.3	-4.3	-3.3	2.7	1.7	0.5
Agricultural industrial supplies & materials	10	1.185	214.4	219.6	-3.4	-2.2	-1.2	1.9	2.4
Nonagricultural industrial supplies & materials		37.083	199.1	200.3	-3.2	-2.0	2.0	1.3	0.6
Fuels & lubricants	11	16.563	243.4	243.5	-4.6	-5.1	4.9	2.0	0.0
Nonagricultural supplies & materials excluding fuels & building materials	12	19.779	192.3	194.3	-2.2	0.6	-0.2	0.7	1.0
Selected building materials	13	0.740	147.3	150.7	-0.1	0.3	-1.9	-0.2	2.3
Capital goods	2	31.684	122.9	123.1	1.9	0.1	0.8	0.3	0.2
Nonelectrical machinery	21	22.544	102.5	102.6	1.2	0.0	0.4	0.4	0.1
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	5.668	220.4	220.6	7.4	0.1	3.2	0.5	0.1
Automotive vehicles, parts & engines	3	8.606	127.6	127.6	2.9	0.5	0.4	0.0	0.0
Vehicles-passenger (Dec. 2023=100)	30	8.606	100.4	100.4	-	-	0.4	0.0	0.0
Consumer goods, excluding automotives	4	12.731	117.4	118.0	-0.8	0.3	-1.2	0.0	0.5
Nondurables, manufactured	40	6.748	107.3	107.3	-2.5	0.2	-2.3	-0.2	0.0
Durables, manufactured	41	4.827	120.1	121.9	2.5	0.4	0.3	0.1	1.5
Nonmanufactured consumer goods (Dec. 2018=100)	42	1.157	127.1	126.8	-3.8	-0.1	0.0	0.0	-0.2
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: March 2023 to March 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Nonmanufacturing		8.061	149.2	152.1	7.6	-6.7	1.0	2.8	1.9
Agriculture, forestry, fishing and hunting	11	2.289	243.0	241.8	12.1	0.2	3.2	2.4	-0.5
Crop production	111	1.921	257.1	254.7	14.2	0.2	4.0	1.5	-0.9
Animal production (Dec. 2022=100)	112	0.247	120.2	122.9	8.8	0.4	-2.0	11.1	2.2
Mining	21	5.772	138.9	142.9	5.9	-9.3	0.3	2.8	2.9
Oil and gas extraction	211	5.535	137.3	141.3	6.6	-9.7	0.5	2.8	2.9
Mining (except oil and gas) (Dec. 2022=100)	212	0.237	106.9	110.3	-8.4	-1.2	-5.3	2.7	3.2
Manufacturing		91.611	121.8	122.2	-0.3	-0.2	0.7	0.0	0.3
Manufacturing, part 1	31	11.955	139.0	139.6	0.6	0.1	0.1	0.8	0.4
Food manufacturing	311	4.317	188.2	190.3	1.0	-0.1	0.2	2.0	1.1
Beverage and tobacco product manufacturing	312	1.175	141.6	142.3	2.1	0.4	-0.1	0.1	0.5
Textile mills (Dec. 2023=100)	313	0.323	101.0	100.7	-	-	0.1	0.9	-0.3
Textile product mills (Dec. 2023=100)	314	0.900	100.2	100.1	-	-	0.1	0.1	-0.1
Apparel manufacturing	315	3.540	119.2	119.0	-0.1	0.1	0.3	0.1	-0.2
Manufacturing, part 2	32	19.014	141.5	142.8	-0.8	-0.7	1.6	-0.4	0.9
Paper manufacturing	322	1.002	120.8	120.4	-3.4	-0.2	-0.3	-1.1	-0.3
Printing and related support activities (Dec. 2023=100)	323	0.148	100.3	100.1	-	-	0.5	-0.2	-0.2
Petroleum and coal products manufacturing	324	2.131	128.2	140.1	1.8	-5.2	4.1	-3.1	9.3
Chemical manufacturing	325	11.218	152.0	151.8	-0.1	0.2	1.8	-0.1	-0.1
Plastics and rubber products manufacturing	326	2.555	131.3	130.7	-2.2	-0.5	-0.2	0.6	-0.5
Nonmetallic mineral product manufacturing	327	1.105	144.9	144.1	0.2	0.1	0.1	0.0	-0.6
Manufacturing, part 3	33	60.642	112.5	112.6	-0.4	0.0	0.4	0.0	0.1
Primary metal manufacturing	331	4.569	216.6	219.7	-4.6	0.6	0.9	-1.4	1.4
Fabricated metal product manufacturing	332	3.187	144.6	146.9	-1.6	0.4	-1.2	-0.1	1.6
Machinery manufacturing	333	8.044	132.3	132.3	0.8	0.0	0.2	0.4	0.0
Computer and electronic product manufacturing	334	16.599	72.2	72.1	-1.9	0.0	0.0	0.0	-0.1
Electrical equipment, appliance, and component manufacturing	335	6.403	127.3	125.4	-1.5	-0.2	0.8	0.2	-1.5
Transportation equipment manufacturing	336	14.059	119.4	119.7	2.7	0.0	0.9	0.3	0.3
Furniture and related product manufacturing	337	1.873	128.0	127.9	-0.8	-1.1	0.6	-0.1	-0.1
Miscellaneous manufacturing	339	5.908	128.9	129.2	1.3	0.2	0.5	0.1	0.2
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: March 2023 to March 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Nonmanufacturing		14.847	177.2	173.5	-6.5	-1.6	3.3	1.1	-2.1
Agriculture, forestry, fishing and hunting	11	4.593	188.5	184.3	-14.9	0.5	-2.3	1.0	-2.2
Crop production	111	4.290	198.2	193.3	-16.0	0.6	-2.6	0.8	-2.5
Mining	21	10.253	112.6	110.3	-2.0	-2.8	6.0	1.2	-2.0
Oil and gas extraction (Dec. 2021=100)	211	8.934	100.4	98.3	0.4	-2.9	6.7	1.5	-2.1
Mining (except oil and gas)	212	1.320	134.8	133.3	-14.8	-2.0	2.2	-1.6	-1.1
Manufacturing		83.510	133.8	134.6	-0.4	-0.6	0.2	0.5	0.6
Manufacturing, part 1	31	6.421	170.7	171.6	-2.2	-0.3	-0.2	-0.2	0.5
Food manufacturing	311	4.621	200.9	202.4	-2.0	-0.5	-0.1	-0.3	0.7
Beverage and tobacco product manufacturing	312	0.532	141.8	140.2	-6.2	0.4	-0.6	-0.5	-1.1
Manufacturing, part 2	32	25.525	133.8	135.2	-4.2	-2.3	-0.3	1.4	1.0
Wood product manufacturing (Dec. 2017=100)	321	0.423	118.0	123.0	4.2	0.4	0.8	-0.3	4.2
Petroleum and coal products manufacturing	324	5.978	146.2	150.4	-8.6	-9.2	2.3	4.4	2.9
Chemical manufacturing	325	14.482	130.7	131.4	-2.8	-0.2	-1.4	0.7	0.5
Plastics and rubber products manufacturing	326	2.255	135.5	134.7	0.9	0.1	0.5	0.4	-0.6
Nonmetallic mineral product manufacturing	327	0.733	131.9	132.1	1.0	0.1	-0.5	-0.2	0.2
Manufacturing, part 3	33	51.564	130.1	130.7	1.8	0.2	0.5	0.2	0.5
Primary metal manufacturing	331	4.297	196.0	202.3	-0.6	0.9	-0.5	-1.0	3.2
Machinery manufacturing	333	9.497	151.4	151.5	2.2	0.1	0.3	0.3	0.1
Computer and electronic product manufacturing	334	12.569	83.2	83.4	-0.2	0.0	0.1	0.2	0.2
Transportation equipment manufacturing	336	13.338	149.3	149.3	4.8	0.3	1.6	0.2	0.0
Furniture and related product manufacturing (Dec. 2023=100)	337	0.352	101.8	101.8	-	-	1.8	0.0	0.0
Miscellaneous manufacturing	339	5.038	140.9	142.0	3.0	0.7	0.9	0.3	0.8
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: March 2023 to March 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative importance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Live animals; animal products	I	1.481	237.4	239.5	1.0	-0.5	1.7	5.1	0.9
Meat and edible meat offal	02	0.426	338.4	351.8	17.0	1.4	2.2	4.0	4.0
Fish and crustaceans, molluscs and other aquatic invertebrates	03	0.705	149.0	147.9	-10.3	-2.6	3.2	6.4	-0.7
Vegetable products	II	2.225	266.8	263.6	5.1	0.2	3.3	-1.4	-1.2
Edible vegetables, roots, and tubers	07	0.509	506.1	553.9	18.5	-0.5	9.4	-14.5	9.4
Edible fruit and nuts; peel of citrus fruit or melons	08	0.790	132.6	130.1	4.1	-0.6	6.1	-5.4	-1.9
Coffee, tea, mate and spices	09	0.376	294.4	297.2	-2.8	3.6	-5.6	1.3	1.0
Animal or vegetable fats and oils (Dec. 2009=100)	III	0.442	145.7	150.0	2.4	0.8	-2.4	0.5	3.0
Animal or vegetable fats and oils and their cleavage products; prepared (Dec. 2023=100)	15	0.442	98.1	101.0	-	-	-2.4	0.5	3.0
Prepared foodstuffs, beverages, and tobacco	IV	3.497	200.9	203.4	4.3	0.3	-0.2	1.3	1.2
Sugars and sugar confectionary (Dec. 2021=100)	17	0.243	126.2	128.4	13.9	0.7	2.6	1.1	1.7
Cocoa and cocoa preparations (Dec. 2009=100)	18	0.313	161.5	182.5	57.7	3.6	4.4	14.1	13.0
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.495	100.0	99.9	-	-	0.1	-0.1	-0.1
Miscellaneous edible preparations (Dec. 2022=100)	21	0.420	99.2	99.1	-1.4	0.6	-0.8	-0.4	-0.1
Beverages, spirits, and vinegar	22	1.113	154.4	155.2	1.4	0.3	-0.4	0.2	0.5
Mineral products	V	8.024	278.4	290.8	4.2	-7.9	1.4	1.1	4.5
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	7.729	271.9	284.2	4.8	-8.2	1.7	1.1	4.5
Products of the chemical or allied industries	VI	10.880	174.1	174.3	0.5	0.1	1.6	0.2	0.1
Organic chemicals	29	2.272	137.8	138.5	-5.4	-0.7	-3.6	0.2	0.5
Pharmaceutical products	30	5.724	155.4	155.6	5.2	0.1	4.6	0.5	0.1
Fertilizers (Dec. 2022=100)	31	0.221	62.2	63.7	-14.7	2.4	0.3	-1.4	2.4
Tanning extracts; dye, pigments, varnish, paints & putty (Dec. 2022=100)	32	0.199	100.9	100.8	-1.3	0.2	0.1	-0.5	-0.1
Miscellaneous chemical products	38	0.935	116.7	116.4	-4.4	-0.3	0.2	-0.1	-0.3
Plastics and articles thereof; rubber and articles thereof	VII	3.772	153.7	153.3	-2.9	-0.4	0.1	0.1	-0.3
Plastics and articles thereof	39	2.518	151.0	150.3	-5.2	-0.8	0.3	0.1	-0.5
Rubber and articles thereof	40	1.254	162.1	162.2	1.4	0.3	-0.4	0.2	0.1
Printed matter (Dec. 2023=100)	49	0.169	100.0	99.8	-	-	0.0	0.0	-0.2
Textile and textile articles	XI	4.560	120.7	120.6	-0.1	0.1	0.2	0.1	-0.1
Articles of apparel and clothing accessories, knitted or crocheted (Dec. 2023=100)	61	1.955	100.4	100.3	-	-	0.4	0.0	-0.1
Articles of apparel and clothing accessories, not knitted or crocheted	62	1.420	126.8	126.8	-0.5	0.0	0.1	0.1	0.0
Made-up or worn textile articles (Dec. 2023=100)	63	0.622	99.6	99.6	-	-	-0.4	0.0	0.0
Headgear, umbrellas, artificial flowers, etc.	XII	1.458	126.7	126.8	0.6	-0.2	-0.1	0.0	0.1
Footwear and parts of such articles	64	1.192	123.7	123.8	0.9	-0.3	0.0	0.0	0.1
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.947	137.6	136.7	0.2	0.0	0.6	0.0	-0.7
Articles of stone, plaster, cement, asbestos, or mica (Dec. 2020=100)	68	0.329	101.1	100.2	-2.3	-0.2	-0.2	0.0	-0.9
Glass and glassware (Dec. 2021=100)	70	0.343	109.6	109.5	5.0	0.2	1.7	0.0	-0.1
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	3.029	223.8	227.7	-0.2	0.7	0.2	-0.8	1.7
Pearls, precious stones, precious metals jewelry, coin (Dec. 2023=100)	71	3.029	99.4	101.2	-	-	0.2	-0.8	1.8
Base metals and articles of base metals	XV	5.822	226.1	227.9	-4.9	0.4	0.0	-0.5	0.8
Articles of iron or steel	73	1.760	193.3	191.3	-7.7	0.0	-0.2	-0.4	-1.0
Copper and articles thereof	74	0.496	377.7	389.1	-1.3	2.6	1.6	-1.0	3.0
Aluminum and articles thereof	76	1.039	181.5	191.3	-1.0	1.1	-2.1	-1.0	5.4
Tools, implements, cutlery, spoons and forks, of base metal; parts thereof	82	0.419	133.7	133.1	0.7	0.2	0.6	0.5	-0.4
Miscellaneous articles of base metal	83	0.516	142.7	142.6	-5.4	-0.1	-0.5	-0.1	-0.1
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	30.707	82.5	82.2	-0.8	-0.1	0.4	0.1	-0.4
Machinery and mechanical appliances; parts thereof	84	15.409	89.9	90.0	0.0	-0.1	0.3	0.4	0.1
Electrical machinery and equip, sound and TV recorders & reproducers, parts	85	15.298	75.6	75.0	-1.7	-0.1	0.3	0.0	-0.8
Vehicles, aircraft, vessels and associated transport equipment	XVII	11.833	123.5	123.6	1.8	-0.1	0.7	0.1	0.1
Motor vehicles and their parts	87	11.070	122.6	122.8	1.9	0.0	0.7	0.0	0.2
Aircraft, spacecraft, and parts thereof (Dec. 2020=100)	88	0.621	107.0	107.6	-0.6	0.0	0.1	-0.3	0.6
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	4.193	110.3	110.5	3.1	0.5	1.1	0.3	0.2
Optical, photographic, measuring and medical instruments	90	3.880	105.6	106.0	2.9	0.5	0.9	0.3	0.4
Miscellaneous manufactured articles	XX	4.588	120.2	120.4	0.2	-0.2	0.5	0.0	0.2
Furniture & stuffed furnishings; lamps & lighting fittings, nesoi; prefab bldgs	94	2.549	126.9	126.8	-0.6	-0.3	0.5	-0.1	-0.1
Toys, games and sports equipment; parts and accessories thereof	95	1.727	106.9	107.4	0.8	0.0	0.5	0.0	0.5
Miscellaneous manufactured articles	96	0.313	151.4	152.6	4.0	0.0	2.6	0.0	0.8
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: March 2023 to March 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative import- ance Feb. 2024(1)	Index		Percent change
			Feb. 2024	Mar. 2024	Annual	Monthly
					Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Live animals; animal products	I	1.915	259.5	264.0	-0.3	-0.2	0.2	0.2	1.7
Meat & edible meat offal (Dec. 2006=100)	02	1.230	223.6	229.1	8.3	0.1	1.5	-0.1	2.5
Vegetable products	II	4.177	244.8	236.2	-17.8	0.9	-2.6	0.4	-3.5
Edible fruit and nuts; peel of citrus fruit or melons	08	0.872	152.7	150.9	9.5	4.0	-1.6	5.7	-1.2
Cereals	10	1.176	240.0	227.7	-29.1	-2.0	-2.9	1.0	-5.1
Oilseeds and misc. grains, seeds, fruits, plants, straw and fodder	12	1.693	249.7	238.3	-23.4	-0.6	-2.3	-3.8	-4.6
Prepared foodstuffs, beverages, and tobacco	IV	2.960	186.7	186.5	-0.9	0.6	-0.1	-0.5	-0.1
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.296	100.3	100.1	-	-	0.0	0.3	-0.2
Miscellaneous edible preparations (Dec. 2017=100)	21	0.642	121.6	124.1	5.9	2.7	1.7	0.3	2.1
Residues and waste from the food industries; prepared animal feed	23	0.692	289.5	284.0	-10.5	0.6	-2.2	-2.0	-1.9
Mineral products	V	16.272	292.3	291.6	-4.5	-5.3	4.7	2.3	-0.2
Ores, slag and ash (Dec. 2012=100)	26	0.393	117.5	116.4	-18.7	-1.1	-1.7	-1.4	-0.9
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	15.685	280.8	280.1	-4.2	-5.6	4.9	2.4	-0.2
Products of the chemical or allied industries	VI	12.391	157.2	158.7	-3.2	-0.3	-1.6	0.6	1.0
Pharmaceutical products	30	4.348	103.6	103.5	-3.4	0.1	-3.9	0.1	-0.1
Essential oils and resinoids; perfumery cosmetic or toilet preparations	33	0.796	145.0	144.9	-1.6	-0.3	0.9	-2.9	-0.1
Miscellaneous chemical products	38	2.265	191.0	190.8	0.2	0.1	-1.0	0.4	-0.1
Rubber and articles thereof	40	0.916	191.3	189.8	12.2	0.4	0.6	9.7	-0.8
Wood, wood charcoal, cork, straw, baskets and wickerwork (Dec. 2014=100)	IX	0.466	108.4	113.7	1.0	0.6	1.0	0.1	4.9
Wood and articles of wood; wood charcoal (Dec. 2023=100)	44	0.466	101.1	106.0	-	-	1.0	0.1	4.8
Woodpulp and recovered paper (Dec. 2019=100)	47	0.531	159.9	164.6	-7.2	4.4	1.1	0.5	2.9
Cotton, including yarns and woven fabrics thereof	52	0.610	161.2	174.1	5.8	-2.9	-1.9	5.0	8.0
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.746	153.7	154.0	5.6	0.1	1.3	-0.2	0.2
Glass and glassware (Dec. 2019=100)	70	0.352	114.3	114.7	4.1	0.3	-0.5	0.0	0.3
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	4.756	310.9	322.2	2.5	1.2	0.6	-1.1	3.6
Pearls, precious stones, precious metals; jewelry, coin (Dec. 2023=100)	71	4.756	99.6	103.2	-	-	0.6	-1.0	3.6
Base metals and articles of base metals	XV	4.442	209.7	209.5	-2.4	1.9	-0.2	0.6	-0.1
Copper and articles thereof	74	0.538	260.1	262.8	-1.8	2.6	0.7	0.8	1.0
Aluminum and articles thereof	76	0.706	146.2	147.3	-1.9	0.7	0.7	0.5	0.8
Miscellaneous articles of base metal (Dec. 2022=100)	83	0.336	106.0	105.8	4.3	-0.1	-0.6	1.8	-0.2
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	26.388	108.0	108.2	1.9	0.0	0.9	0.5	0.2
Machinery and mechanical appliances; parts thereof	84	15.688	133.5	133.2	3.5	-0.1	1.5	0.5	-0.2
Electrical machinery and equipment and parts and accessories thereof	85	10.700	81.6	82.2	-0.2	0.0	0.1	0.4	0.7
Vehicles, aircraft, vessels and associated transport equipment	XVII	9.721	154.6	154.6	3.0	0.5	0.3	0.1	0.0
Motor vehicles and their parts	87	7.259	129.1	129.1	3.1	0.5	0.4	0.0	0.0
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	5.774	119.6	119.7	2.7	0.3	0.7	0.0	0.1
Optical, photographic, measuring and medical instruments (Dec. 2023=100)	90	5.723	100.7	100.7	-	-	0.7	0.0	0.0
Miscellaneous manufactured articles	XX	1.160	135.6	135.6	-0.4	0.1	0.7	0.1	0.0
Furniture; stuffed furnishings; lamps and lighting fittings nesoi	94	0.575	149.7	149.7	0.7	0.0	1.3	0.0	0.0
Toys, games and sports equipment; parts and accessories thereof	95	0.448	118.8	118.6	0.7	0.6	0.1	0.1	-0.2
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: March 2023 to March 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Feb. 2024(1)	Index		Percent change
		Feb. 2024	Mar. 2024	Annual	Monthly
				Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Industrialized Countries(2)	100.000	145.0	145.5	1.0	-1.2	1.0	0.6	0.3
Nonmanufacturing	10.202	237.1	241.6	3.3	-11.1	1.1	4.0	1.9
Manufacturing	89.396	137.4	137.7	1.0	0.1	1.0	0.2	0.2
Canada	100.000	168.0	168.9	-2.0	-3.9	0.5	1.2	0.5
Nonmanufacturing	30.642	231.4	235.7	2.7	-11.8	1.2	4.0	1.9
Manufacturing	68.454	154.5	154.7	-3.7	-0.3	0.1	0.0	0.1
European Union	100.000	158.3	158.5	2.5	0.4	1.3	0.4	0.1
Manufacturing	99.321	153.9	154.1	2.5	0.4	1.3	0.5	0.1
France (Dec. 2003=100)	100.000	157.6	157.6	7.8	0.3	4.4	0.1	0.0
Germany (Dec. 2003=100)	100.000	124.2	124.4	-0.5	0.4	-0.1	0.5	0.2
United Kingdom (Dec. 2003=100)	100.000	137.9	138.5	3.1	-0.1	0.4	0.6	0.4
Latin America(3)	100.000	172.8	174.2	3.1	-0.2	1.1	0.6	0.8
Nonmanufacturing	13.965	344.3	347.7	13.1	-2.9	1.8	2.4	1.0
Manufacturing	85.779	138.8	139.9	1.6	0.2	0.9	0.4	0.8
Mexico (Dec. 2003=100)	100.000	146.8	147.7	4.4	-0.3	1.5	0.3	0.6
Nonmanufacturing (Dec. 2008=100)	9.027	185.8	190.4	28.5	-4.2	8.4	2.4	2.5
Manufacturing (Dec. 2008=100)	90.723	99.6	100.1	2.4	0.1	0.8	0.1	0.5
Pacific Rim (Dec. 2003=100)(4)	100.000	102.1	101.8	-1.7	-0.2	0.0	-0.1	-0.3
China (Dec. 2003=100)	100.000	100.5	100.4	-2.6	-0.1	-0.4	-0.1	-0.1
Japan	100.000	102.5	101.8	1.2	-0.1	1.1	-0.1	-0.7
Taiwan (Dec. 2018=100)	100.000	108.5	108.6	-2.3	0.0	-0.5	0.0	0.1
Asian NICs(5)	100.000	94.2	94.3	-2.5	-0.4	-0.3	-0.2	0.1
ASEAN (Dec. 2003=100)(6)	100.000	100.0	100.0	-3.2	-0.6	0.0	-0.1	0.0
Asia Near East (Dec. 2003=100)(7)	100.000	212.1	216.1	-0.1	-3.3	0.1	1.6	1.9
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: March 2023 to March 2024 [December 2017=100, unless otherwise noted]

Description	Relative import- ance Feb. 2024(1)	Index		Percent change
		Feb. 2024	Mar. 2024	Annual	Monthly
				Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Industrialized Countries(2)	100.000	121.8	122.5	1.4	0.1	1.2	0.7	0.6
Nonmanufacturing	15.510	148.5	150.4	4.2	-1.4	5.1	3.8	1.3
Manufacturing	82.969	118.6	119.0	0.6	0.2	0.5	0.3	0.3
Canada	100.000	127.7	128.1	-0.9	0.2	-0.5	0.2	0.3
Nonmanufacturing (Dec. 2020=100)	7.456	137.2	138.1	3.1	-0.1	-2.1	1.6	0.7
Manufacturing (Dec. 2020=100)	90.818	119.2	119.4	-1.6	0.2	-0.4	0.2	0.2
European Union	100.000	120.4	122.0	3.9	-0.3	1.5	1.6	1.3
Nonmanufacturing	22.681	141.4	147.5	6.0	-2.3	1.3	3.5	4.3
Manufacturing	75.787	116.4	116.9	3.1	-0.1	1.6	1.1	0.4
Germany	100.000	122.5	123.6	7.0	0.2	3.8	0.3	0.9
Latin America(3)	100.000	123.4	123.8	-2.0	-2.0	1.2	1.1	0.3
Nonmanufacturing	7.603	144.1	133.5	-11.5	-0.5	2.6	-0.4	-7.4
Manufacturing	91.835	122.0	123.2	-1.2	-2.2	1.2	1.2	1.0
Mexico	100.000	122.6	122.9	-2.1	-1.5	0.8	0.7	0.2
Nonmanufacturing	6.080	115.6	102.5	-21.9	-2.0	1.1	-4.8	-11.3
Manufacturing	93.085	124.0	125.2	-0.8	-1.5	0.7	1.1	1.0
Pacific Rim(4)	100.000	114.5	115.3	-0.7	-0.2	1.0	1.0	0.7
Nonmanufacturing	20.832	121.6	123.2	-5.2	-1.0	3.1	2.7	1.3
Manufacturing	77.995	114.4	115.1	0.7	0.0	0.4	0.5	0.6
China	100.000	107.4	107.5	-4.3	0.0	-1.4	0.8	0.1
Nonmanufacturing	24.072	102.7	101.7	-14.1	0.0	-2.9	-1.1	-1.0
Manufacturing	74.456	111.4	111.8	-0.4	-0.1	-0.9	1.4	0.4
Japan	100.000	111.4	111.6	-4.9	0.2	0.9	1.3	0.2
Nonmanufacturing	23.223	133.5	133.4	-6.3	2.5	7.2	5.4	-0.1
Manufacturing	75.625	106.1	106.3	-3.7	-0.7	-0.8	0.2	0.2
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: March 2023 to March 2024(1) [December 2017=100, unless otherwise noted]

Description	Index		Percent change
	Feb. 2024	Mar. 2024	Annual	Monthly
			Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Industrialized Countries(2)	102.8	103.1	0.4	1.3	0.2	0.1	0.3
Canada	99.9	99.7	1.1	4.2	-1.0	-0.9	-0.2
European Union	102.4	103.6	1.4	-0.7	0.2	1.2	1.2
Germany	113.5	114.4	7.5	-0.3	3.9	-0.2	0.8
Latin America(3)	106.3	105.8	-4.9	-1.9	0.2	0.5	-0.5
Mexico	107.7	107.3	-6.3	-1.1	-0.6	0.3	-0.4
Pacific Rim(4)	110.4	111.4	1.0	0.0	1.0	1.1	0.9
China	107.0	107.2	-1.7	0.1	-0.9	0.8	0.2
Japan	103.8	104.7	-6.0	0.3	-0.2	1.4	0.9
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: March 2023 to March 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Feb. 2024(1)	Index		Percent change
		Feb. 2024	Mar. 2024	Annual	Monthly
				Mar. 2023 to Mar. 2024	Nov. 2023 to Dec. 2023	Dec. 2023 to Jan. 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024
Air Freight
Import Air Freight	100.000	216.6	213.1	-8.5	12.0	-15.2	-4.7	-1.6
Europe (Dec. 2003=100)	24.864	164.5	162.5	-36.9	2.1	-13.4	4.0	-1.2
Asia	74.241	220.2	214.8	5.7	15.7	-17.2	-6.5	-2.5
Export Air Freight	100.000	182.9	180.6	-4.6	-0.3	2.5	1.3	-1.3
Europe (Dec. 2006=100)	26.096	130.4	130.1	-12.8	-1.3	-0.2	0.2	-0.2
Asia (Dec. 2011=100)	52.093	153.7	151.0	1.8	1.1	2.8	2.3	-1.8
Inbound Air Freight	100.000	164.2	166.1	-3.3	5.5	-8.9	-4.3	1.2
Europe (Dec. 2003=100)	27.177	137.3	139.9	-21.8	2.6	-10.9	4.6	1.9
Asia	60.447	158.4	157.2	7.9	8.0	-11.0	-5.7	-0.8
Outbound Air Freight	100.000	180.4	178.6	-8.8	-1.1	1.8	1.2	-1.0
Europe (Dec. 2003=100)	32.825	163.7	163.9	-13.4	-0.9	0.1	0.1	0.1
Asia	47.212	208.6	204.7	-5.1	-0.8	2.9	2.6	-1.9
Air Passenger Fares
Import Air Passenger Fares	100.000	178.0	178.6	-1.1	6.9	-6.2	0.0	0.3
Europe	47.806	197.7	194.7	0.5	1.6	1.2	1.3	-1.5
Asia	11.407	157.9	169.3	0.8	11.4	-18.2	-2.5	7.2
Latin America/Caribbean	9.678	145.6	156.2	-12.0	9.2	-20.9	6.7	7.3
Export Air Passenger Fares	100.000	174.3	181.2	-4.9	-3.4	10.8	-10.1	4.0
Europe	36.068	204.1	213.7	-0.5	-5.1	7.0	-4.4	4.7
Asia	11.950	179.2	187.0	4.1	-3.8	15.4	-18.8	4.4
Latin America/Caribbean	32.117	173.4	179.0	-12.0	-4.5	17.3	-15.7	3.2
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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