U.S. Import and Export Price Indexes News Release

Transmission of material in this release is embargoed until					USDL-24-1126
8:30 a.m. (ET) Friday, June 14, 2024

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


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

Prices for U.S. imports decreased 0.4 percent in May following a 0.9-percent advance the previous month, 
the U.S. Bureau of Labor Statistics reported today. Lower fuel and nonfuel import prices contributed to the 
overall decline. U.S. export prices fell 0.6 percent in May, after increasing 0.6 percent in April.

Imports 

U.S. import prices declined 0.4 percent in May following a 0.9-percent increase in April and a 1.5-percent 
advance for the first quarter of 2024. The May decrease was the first monthly drop since the index fell 0.7 
percent in December 2023. Prices for U.S. imports rose 1.1 percent for the year ended in May, matching the 
over-the-year increase in April. The May and April 12-month advances are the largest over-the-year 
increases since December 2022. (See table 1.)

Fuel Imports: Prices for import fuel fell 2.0 percent in May, after increasing 4.1 percent in April. The May 
decline was the first 1-month decrease since the index fell 8.0 percent in December 2023. Lower prices in 
May for petroleum and natural gas each contributed to the drop in fuel prices. Import fuel prices rose 7.9 
percent over the past 12 months, the largest over-the-year advance since December 2022. The price index 
for import petroleum decreased 1.7 percent in May following a 4.6-percent increase the previous month. 
Import petroleum prices advanced 9.8 percent over the past year. Import natural gas prices declined 19.5 
percent in May, after falling 9.4 percent in April. Prices for import natural gas decreased 39.3 percent for the 
year ended in May.     

All Imports Excluding Fuel: The price index for nonfuel imports decreased 0.3 percent in May, after 
increasing 0.7 percent the previous month. The May decline was the first 1-month drop since October 2023. 
Lower prices in May for foods, feeds, and beverages; nonfuel industrial supplies and materials; consumer 
goods; capital goods; and automotive vehicles all contributed to the overall decline in nonfuel import prices. 
In spite of the May decline, nonfuel import prices advanced 0.5 percent over the past 12 months.           

Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages declined 1.6 percent in May following 
a 1.3-percent advance the previous month. The decline in May was the largest monthly decrease since 
November 2020. The May drop was led by a 10.9-percent decrease in vegetable prices and a 4.6-percent 
decline in fruit prices.     

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices fell 0.4 percent 
in May, after advancing 3.0 percent the previous month. The May decline was driven by a 17.9-percent 
decrease in other agricultural products prices.  

Finished Goods: Prices for each of the major finished goods import categories decreased in May. The price 
index for consumer goods declined 0.2 percent following a 0.1-percent decrease the previous month. Lower 
prices for household goods in May more than offset higher prices for medicinal, dental, and pharmaceutical 
products. Prices for import capital goods edged down 0.1 percent in May, after ticking up 0.1 percent the 
previous month. Automotive vehicles prices fell 0.1 percent in May, the first monthly decline since 
November 2023.            

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
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	-0.3	-0.7
2024
January	0.7	1.7	0.6	0.7	-1.4	0.9
February	0.2	1.1	0.1	0.7	(r)0.8	0.7
March	0.6	(r)5.0	0.2	0.1	(r)-1.0	0.3
April	0.9	(r)4.1	0.7	(r)0.6	(r)-0.4	0.7
May	-0.4	-2.0	-0.3	-0.6	0.5	-0.8
May 2022 to 2023	-5.7	-33.9	-1.6	-10.3	-8.3	-10.7
May 2023 to 2024	1.1	7.9	0.5	0.6	-6.6	1.5
Footnotes (r) Revised

Exports 

Prices for U.S. exports declined 0.6 percent in May, after rising 0.6 percent the previous month. The May 
decrease was the first monthly decline since the index fell 0.7 percent in December 2023. Lower prices for 
nonagricultural exports in May more than offset higher agricultural prices. Despite the drop in May, prices 
for U.S. exports rose 0.6 percent from May 2023 to May 2024, the first 12-month advance since January 
2023. (See table 2.)

Agricultural Exports: Agricultural export prices advanced 0.5 percent in May following a 0.4-percent 
decline in April. Higher prices in May for wheat, fruit, corn, and meat all contributed to the increase in 
export agricultural prices. Despite the May increase, export agricultural prices decreased 6.6 percent over 
the past 12 months.          

All Exports Excluding Agriculture: The price index for nonagricultural exports decreased 0.8 percent in 
May, the first monthly decline since December 2023. Lower prices for nonagricultural industrial supplies 
and materials in May more than offset higher prices for capital goods, consumer goods, and nonagricultural 
foods. In spite of the May drop, nonagricultural export prices rose 1.5 percent over the past year, the largest 
12-month increase since January 2023.       

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 
materials fell 2.0 percent in May, the first 1-month decline since December 2023. The May drop was driven 
by a 5.1-percent decrease in export fuel prices. Despite the May drop, prices for export fuel increased 3.1 
percent over the past year, the first 12-month advance since January 2023.  

Finished Goods: Prices for the major finished goods export categories mostly increased in May. Capital 
goods prices ticked up 0.1 percent following a 0.5-percent advance in April. The May increase was led by a 
0.9-percent rise in semiconductor prices. Prices for export consumer goods rose 0.1 percent for the second 
consecutive month in May. Higher prices for household goods; recreational equipment; and coins, gems, 
jewelry, and collectibles all contributed to the increase in consumer goods prices. The price index for export 
automotive vehicles was unchanged in May, after a 0.8-percent advance the previous month.    

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


Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Import prices from China fell 0.2 percent in May, after being unchanged in 
each of the previous 2 months. The May decline was the largest 1-month drop since a 0.4-percent decrease 
in January 2024. Prices for imports from China last advanced on a monthly basis in October 2022. The price 
index for imports from China fell 2.1 percent for the year ended in May. Import prices from Japan were 
unchanged in May following a 0.1-percent decline in April. Prices for imports from Japan increased 0.3 
percent from May 2023 to May 2024. Import prices from Canada and Mexico decreased in May, declining 
1.9 percent and 1.0 percent, respectively. In contrast, prices for imports from the European Union rose 0.3 
percent for the second consecutive month in May. The price index for imports from the European Union 
advanced 1.9 percent over the past year. (See table 7.)

Exports by Locality of Destination: Prices for exports to China decreased 0.3 percent in May, after 
increasing 0.8 percent in April. The May drop was the first 1-month decrease since the index fell 1.4 percent 
in January 2024. The price index for exports to China declined 1.7 percent over the past 12 months. Export 
prices to Japan fell 0.2 percent in May following a 1.5-percent advance the previous month. Prices for 
exports to Japan decreased 1.8 percent over the past year. The price index for exports to Canada edged down 
0.1 percent in May, after rising 0.4 percent the previous month. Prices for exports to Canada rose 1.7 
percent for the year ended in May. Export prices to Mexico fell 1.0 percent in May, the first monthly 
decrease since December 2023. The price index for exports to the European Union declined 1.5 percent in 
May, the largest 1-month decrease since May 2023. (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 edged 
down 0.1 percent in May, after increasing 0.8 percent the previous month. Lower export prices to China in 
May more than offset lower import prices from China. Despite the May decline, U.S. terms of trade with 
China increased 0.4 percent over the past year, the first 12-month advance since December 2023. The index 
for U.S. terms of trade with Japan fell 0.1 percent in May following a 1.5-percent rise in April. U.S. terms of 
trade with Japan declined 2.1 percent for the year ended in May. The index for U.S. terms of trade with 
Mexico was unchanged in May, and U.S. terms of trade with the European Union decreased 1.7 percent 
over the same period. In contrast, U.S. terms of trade with Canada rose 1.9 percent in May, the first monthly 
increase since December 2023. (See table 9.)


Import and Export Services

Imports: Import air passenger fares rose 0.4 percent in May following a 1.2-percent increase the previous 
month. Higher European and Asian fares in May more than offset lower Latin American/Caribbean fares. 
Despite the May advance, import air passenger fares declined 1.6 percent over the past 12 months. The price 
index for import air freight decreased 1.7 percent in May, after rising 5.4 percent in April and 1.6 percent in 
March. In spite of the May decline, import air freight prices increased 1.5 percent over the past year, the 
first 12-month advance since June 2022. (See table 10.)

Exports: Export air passenger fares fell 3.0 percent in May following a 0.5-percent rise the previous month. 
Lower prices for Latin American/Caribbean and Asian fares more than offset higher European fares. The 
index for export air passenger fares declined 2.5 percent for the year ended in May. Prices for export air 
freight decreased 1.0 percent in May, after falling 2.5 percent in April. Lower European and Asian air 
freight prices contributed to the overall decline in air freight prices in May. Export air freight prices 
decreased 5.3 percent from May 2023 to May 2024.       

U.S. Import and Export Price Index data for June 2024 are scheduled for release on Tuesday, July 16, 
2024, at 8:30 a.m. (ET).

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

Description	End Use	Relative import- ance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
All commodities		100.000	141.8	141.2	1.1	0.2	0.6	0.9	-0.4
All imports excluding food and fuels (Dec. 2010=100)		84.052	108.9	108.7	0.1	0.1	0.0	0.6	-0.2
All imports excluding petroleum		91.621	124.8	124.4	0.4	0.0	0.2	0.6	-0.3
All imports excluding fuels (Dec. 2001=100)		91.383	128.9	128.5	0.5	0.1	0.2	0.7	-0.3
Foods, feeds, & beverages	0	7.331	224.6	220.9	5.6	0.2	1.6	1.3	-1.6
Agricultural foods, feeds & beverages, excluding distilled beverages	00	6.018	254.5	249.4	8.4	-0.4	2.0	1.7	-2.0
Nonagricultural foods (fish, distilled beverages)	01	1.313	152.0	151.7	-5.5	3.1	-0.5	-0.3	-0.2
Industrial supplies & materials	1	23.582	250.3	247.8	2.0	0.0	2.5	3.3	-1.0
Industrial supplies & materials excluding petroleum		15.339	203.0	201.6	-1.8	-0.8	0.6	2.7	-0.7
Industrial supplies & materials excluding fuels (Dec. 2001=100)		14.952	229.1	228.1	-1.1	-0.5	1.1	3.0	-0.4
Industrial supplies & materials, durable		9.409	219.8	222.0	-1.6	-0.5	1.1	1.8	1.0
Industrial supplies & materials nondurable excluding petroleum		5.794	183.8	177.7	-2.0	-1.4	-0.3	4.1	-3.3
Fuels & lubricants	10	8.617	297.1	291.2	7.9	1.1	5.0	4.1	-2.0
Petroleum & petroleum products	100	8.379	324.8	319.4	9.8	1.7	6.3	4.6	-1.7
Crude petroleum	10000	5.815	338.9	321.0	8.1	3.4	5.1	7.3	-5.3
Fuels, n.e.s.-coals & gas	101	0.239	113.0	95.4	-33.2	-11.0	-21.3	-9.1	-15.6
Natural gas	10110	0.150	85.6	68.9	-39.3	-14.3	-29.7	-9.4	-19.5
Paper & paper base stocks	11	0.527	138.7	140.9	-0.1	-1.3	-0.6	1.3	1.6
Materials associated with nondurable supplies & materials	12	5.028	206.2	199.4	-0.3	-0.7	1.3	5.6	-3.3
Unfinished metals related to durable goods	14	3.457	323.3	330.8	-3.4	-1.7	1.2	2.9	2.3
Finished metals related to durable goods	15	2.639	223.7	227.3	3.8	-0.5	2.3	2.2	1.6
Capital goods	2	28.376	93.6	93.5	-0.2	0.2	-0.2	0.1	-0.1
Nonelectrical machinery	21	22.422	84.1	84.1	-0.6	0.0	0.1	-0.1	0.0
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	1.665	160.6	161.0	5.3	1.4	1.6	0.2	0.2
Automotive vehicles, parts & engines	3	13.514	120.8	120.7	2.3	0.1	0.2	0.4	-0.1
Automotive vehicles, parts and engines, 2 digit (Dec. 2023=100)	30	13.514	101.4	101.3	-	0.0	0.2	0.4	-0.1
Consumer goods, excluding automotives	4	27.196	110.6	110.4	0.0	0.4	-0.3	-0.1	-0.2
Nondurables, manufactured	40	13.659	127.9	128.0	1.9	0.2	0.0	-0.1	0.1
Durables, manufactured	41	12.558	94.3	93.8	-1.9	0.1	-0.1	-0.2	-0.5
Nonmanufactured consumer goods	42	0.980	125.5	127.1	-1.8	7.3	-5.9	0.4	1.3
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

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

Description	End Use	Relative import- ance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
All commodities		100.000	149.7	148.8	0.6	0.7	0.1	0.6	-0.6
Agricultural commodities		9.300	226.2	227.3	-6.6	0.8	-1.0	-0.4	0.5
All exports excluding food and fuels (Dec. 2010=100)		74.952	115.9	116.1	1.0	0.3	0.4	0.6	0.2
All exports excluding fuels (June 2022=100)		83.457	100.2	100.4	0.6	0.4	0.3	0.6	0.2
Nonagricultural commodities		90.700	143.7	142.6	1.5	0.7	0.3	0.7	-0.8
Foods, feeds, & beverages	0	8.505	227.4	229.5	-6.6	0.7	-1.2	-0.2	0.9
Agricultural foods, feeds & beverages, excluding distilled beverages	00	8.136	229.6	231.7	-6.5	0.6	-1.2	-0.2	0.9
Nonagricultural foods (fish, distilled beverages)	01	0.370	185.4	187.1	-9.2	0.8	-0.7	-1.7	0.9
Industrial supplies & materials	1	38.651	203.0	199.0	1.3	1.5	0.5	1.1	-2.0
Industrial supplies & materials, durable		11.073	217.8	220.5	2.2	0.3	1.1	2.0	1.2
Industrial supplies & materials, nondurable		27.578	194.7	188.3	1.0	2.0	0.2	0.8	-3.3
Agricultural industrial supplies & materials	10	1.164	212.2	206.3	-6.9	1.9	0.7	-1.6	-2.8
Nonagricultural industrial supplies & materials		37.487	202.8	198.8	1.6	1.4	0.5	1.2	-2.0
Fuels & lubricants	11	16.543	245.0	232.6	3.1	2.2	-0.3	1.0	-5.1
Nonagricultural supplies & materials excluding fuels & building materials	12	20.188	197.8	198.8	0.5	0.8	1.1	1.4	0.5
Selected building materials	13	0.755	151.5	150.0	1.0	0.5	0.9	0.7	-1.0
Capital goods	2	31.533	123.3	123.4	2.0	0.4	0.0	0.5	0.1
Nonelectrical machinery	21	22.433	102.7	102.9	1.4	0.3	-0.1	0.4	0.2
Transportation equipment excluding motor vehicles (Dec. 2001=100)	22	5.585	218.8	218.9	5.8	0.5	0.1	0.2	0.0
Automotive vehicles, parts & engines	3	8.611	128.7	128.7	4.0	0.1	0.0	0.8	0.0
Vehicles-passenger (Dec. 2023=100)	30	8.611	101.2	101.3	-	0.0	0.1	0.7	0.1
Consumer goods, excluding automotives	4	12.700	118.0	118.1	-1.3	-0.1	0.4	0.1	0.1
Nondurables, manufactured	40	6.692	107.2	107.1	-3.5	-0.3	-0.1	0.0	-0.1
Durables, manufactured	41	4.868	122.0	122.5	2.5	0.1	1.3	0.2	0.4
Nonmanufactured consumer goods (Dec. 2018=100)	42	1.141	126.3	126.0	-4.2	0.0	-0.2	-0.4	-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: May 2023 to May 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Nonmanufacturing		8.522	159.7	151.2	6.7	2.6	2.2	4.7	-5.3
Agriculture, forestry, fishing and hunting	11	2.271	244.0	232.8	10.5	2.8	-0.5	0.5	-4.6
Crop production	111	1.869	257.7	243.4	11.7	2.0	-1.0	0.7	-5.5
Animal production (Dec. 2022=100)	112	0.242	121.1	121.1	9.4	10.9	2.4	-1.5	0.0
Mining	21	6.251	152.3	143.8	5.3	2.6	3.2	6.2	-5.6
Oil and gas extraction	211	6.011	151.0	142.2	6.3	2.6	3.3	6.5	-5.8
Mining (except oil and gas) (Dec. 2022=100)	212	0.240	109.4	110.0	-12.5	2.6	3.4	-0.9	0.5
Manufacturing		91.159	122.7	122.8	0.2	-0.1	0.3	0.5	0.1
Manufacturing, part 1	31	12.085	142.2	141.5	1.6	0.6	0.7	1.8	-0.5
Food manufacturing	311	4.533	200.0	197.4	4.3	1.5	1.9	4.9	-1.3
Beverage and tobacco product manufacturing	312	1.167	142.3	142.5	1.9	0.1	0.5	0.1	0.1
Textile mills (Dec. 2023=100)	313	0.322	102.0	102.1	-	0.4	0.3	1.2	0.1
Textile product mills (Dec. 2023=100)	314	0.888	100.1	100.0	-	0.1	-0.1	0.0	-0.1
Apparel manufacturing	315	3.494	119.0	119.0	-0.2	0.0	0.0	-0.1	0.0
Manufacturing, part 2	32	18.907	142.5	143.8	0.6	-0.4	0.8	-0.1	0.9
Paper manufacturing	322	0.996	121.6	122.7	-0.5	-1.0	-0.2	0.7	0.9
Printing and related support activities (Dec. 2023=100)	323	0.146	100.0	100.0	-	-0.2	-0.2	-0.1	0.0
Petroleum and coal products manufacturing	324	2.289	139.4	150.5	13.5	-3.0	9.4	-0.7	8.0
Chemical manufacturing	325	11.003	150.9	150.9	-0.7	-0.2	-0.3	-0.2	0.0
Plastics and rubber products manufacturing	326	2.529	131.5	131.4	-2.2	0.8	-0.2	0.2	-0.1
Nonmetallic mineral product manufacturing	327	1.085	144.0	144.7	-2.1	0.1	-0.4	-0.3	0.5
Manufacturing, part 3	33	60.166	113.0	113.0	-0.1	0.0	0.1	0.4	0.0
Primary metal manufacturing	331	4.770	228.9	234.0	0.8	-1.4	1.4	4.2	2.2
Fabricated metal product manufacturing	332	3.146	144.5	145.2	-2.9	-0.1	1.5	-1.6	0.5
Machinery manufacturing	333	7.935	132.1	131.8	-0.2	0.3	-0.1	0.0	-0.2
Computer and electronic product manufacturing	334	16.359	72.0	71.7	-1.5	0.0	-0.1	-0.1	-0.4
Electrical equipment, appliance, and component manufacturing	335	6.253	125.8	125.1	-2.2	0.1	-1.2	0.2	-0.6
Transportation equipment manufacturing	336	13.971	120.1	120.0	2.6	0.3	0.3	0.3	-0.1
Furniture and related product manufacturing	337	1.846	127.7	127.7	-1.2	-0.2	0.0	-0.2	0.0
Miscellaneous manufacturing	339	5.886	130.0	130.1	1.2	0.2	0.2	0.5	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 4. U.S. export price indexes and percent changes for selected industries: May 2023 to May 2024 [December 2005=100, unless otherwise noted]

Description	NAICS	Relative import- ance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Nonmanufacturing		14.410	173.0	168.8	-1.6	1.0	-2.4	0.3	-2.4
Agriculture, forestry, fishing and hunting	11	4.444	183.4	185.2	-11.3	1.1	-2.7	-0.1	1.0
Crop production	111	4.143	192.5	194.9	-12.1	0.9	-3.0	0.0	1.2
Mining	21	9.967	110.1	105.7	4.2	1.0	-2.3	0.5	-4.0
Oil and gas extraction (Dec. 2021=100)	211	8.677	98.1	93.3	6.9	1.1	-2.6	0.7	-4.9
Mining (except oil and gas)	212	1.289	132.5	136.0	-8.5	0.3	-0.4	-1.7	2.6
Manufacturing		84.007	135.4	134.8	0.9	0.6	0.5	0.7	-0.4
Manufacturing, part 1	31	6.340	169.5	169.0	-3.1	0.0	0.4	-0.7	-0.3
Food manufacturing	311	4.553	199.2	199.1	-2.9	-0.4	0.7	-0.6	-0.1
Beverage and tobacco product manufacturing	312	0.511	137.2	134.3	-9.5	-0.5	-1.1	-2.1	-2.1
Manufacturing, part 2	32	25.885	136.5	134.1	-0.8	1.6	0.8	0.8	-1.8
Wood product manufacturing (Dec. 2017=100)	321	0.441	123.6	121.8	4.5	0.9	1.5	1.2	-1.5
Petroleum and coal products manufacturing	324	6.274	154.4	144.7	2.6	4.6	3.1	2.1	-6.3
Chemical manufacturing	325	14.521	131.9	131.3	-3.0	0.9	0.2	0.2	-0.5
Plastics and rubber products manufacturing	326	2.225	134.4	134.7	1.1	0.4	-0.6	-0.2	0.2
Nonmetallic mineral product manufacturing	327	0.730	132.1	131.9	0.6	-0.2	0.0	0.2	-0.2
Manufacturing, part 3	33	51.782	131.5	131.7	2.2	0.2	0.4	0.8	0.2
Primary metal manufacturing	331	4.585	210.4	212.9	2.0	-1.0	3.0	4.3	1.2
Machinery manufacturing	333	9.485	152.2	152.1	2.0	0.3	-0.1	0.6	-0.1
Computer and electronic product manufacturing	334	12.522	83.4	83.6	0.2	0.2	0.1	0.1	0.2
Transportation equipment manufacturing	336	13.281	149.6	149.6	4.9	0.2	0.1	0.6	0.0
Furniture and related product manufacturing (Dec. 2023=100)	337	0.351	101.9	102.3	-	0.0	0.0	0.1	0.4
Miscellaneous manufacturing	339	5.071	142.7	142.9	3.1	0.2	0.6	0.7	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 5. U.S. import price indexes and percent changes for selected categories of goods: May 2023 to May 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative importance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Live animals; animal products	I	1.479	239.9	240.3	1.7	4.6	0.9	0.8	0.2
Meat and edible meat offal	02	0.440	353.6	363.2	12.9	2.4	3.8	2.8	2.7
Fish and crustaceans, molluscs and other aquatic invertebrates	03	0.687	146.9	146.2	-6.7	6.4	-0.7	-0.7	-0.5
Vegetable products	II	2.164	262.6	250.8	1.2	-2.1	-1.2	0.3	-4.5
Edible vegetables, roots, and tubers	07	0.564	542.5	469.2	-2.9	-14.1	9.2	-2.2	-13.5
Edible fruit and nuts; peel of citrus fruit or melons	08	0.818	132.9	126.5	9.7	-4.9	-1.7	1.4	-4.8
Coffee, tea, mate and spices	09	0.397	300.7	302.4	-0.3	1.3	1.0	1.1	0.6
Animal or vegetable fats and oils (Dec. 2009=100)	III	0.457	152.3	150.4	2.7	0.5	3.0	1.5	-1.2
Animal or vegetable fats and oils and their cleavage products; prepared (Dec. 2023=100)	15	0.457	102.5	101.3	-	0.5	3.0	1.5	-1.2
Prepared foodstuffs, beverages, and tobacco	IV	3.696	214.8	211.9	8.7	1.0	1.8	5.4	-1.4
Sugars and sugar confectionary (Dec. 2021=100)	17	0.244	127.8	128.6	12.5	1.1	1.7	-0.5	0.6
Cocoa and cocoa preparations (Dec. 2009=100)	18	0.544	283.7	250.2	111.3	14.1	21.4	44.7	-11.8
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.488	99.8	99.7	-	-0.1	-0.1	0.0	-0.1
Miscellaneous edible preparations (Dec. 2022=100)	21	0.414	98.8	99.7	1.9	-2.2	-2.1	5.6	0.9
Beverages, spirits, and vinegar	22	1.106	155.2	155.4	1.1	0.1	0.5	0.1	0.1
Mineral products	V	8.659	304.0	297.9	7.2	0.9	4.8	4.2	-2.0
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	8.366	297.8	291.5	8.3	0.9	4.9	4.4	-2.1
Products of the chemical or allied industries	VI	10.665	172.7	172.8	-0.3	0.1	-0.2	-0.4	0.1
Organic chemicals	29	2.190	136.7	136.6	-6.8	0.1	-0.2	-0.4	-0.1
Pharmaceutical products	30	5.562	155.3	156.0	5.0	0.6	0.1	-0.1	0.5
Fertilizers (Dec. 2022=100)	31	0.220	63.7	61.2	-9.5	-1.4	2.6	-0.2	-3.9
Tanning extracts; dye, pigments, varnish, paints & putty (Dec. 2022=100)	32	0.193	100.6	101.5	-1.4	-0.5	-0.1	-0.2	0.9
Miscellaneous chemical products	38	0.878	112.7	111.7	-8.1	-0.5	-0.7	-1.2	-0.9
Plastics and articles thereof; rubber and articles thereof	VII	3.732	153.9	154.0	-2.6	0.2	-0.2	0.3	0.1
Plastics and articles thereof	39	2.493	151.2	151.2	-4.2	0.2	-0.3	0.4	0.0
Rubber and articles thereof	40	1.239	162.1	162.4	0.2	0.2	0.0	-0.1	0.2
Printed matter (Dec. 2023=100)	49	0.167	99.8	99.8	-	0.0	-0.2	0.0	0.0
Textile and textile articles	XI	4.505	120.7	120.7	-0.3	0.0	0.0	0.1	0.0
Articles of apparel and clothing accessories, knitted or crocheted (Dec. 2023=100)	61	1.927	100.1	99.8	-	0.0	0.0	-0.2	-0.3
Articles of apparel and clothing accessories, not knitted or crocheted	62	1.406	127.1	127.6	0.2	0.1	0.0	0.2	0.4
Made-up or worn textile articles (Dec. 2023=100)	63	0.614	99.4	99.5	-	0.0	0.0	-0.2	0.1
Headgear, umbrellas, artificial flowers, etc.	XII	1.441	126.8	126.3	-0.2	0.0	0.0	0.1	-0.4
Footwear and parts of such articles	64	1.179	123.8	123.5	0.2	0.1	-0.1	0.1	-0.2
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.931	136.9	138.0	-0.9	0.0	-0.5	0.0	0.8
Articles of stone, plaster, cement, asbestos, or mica (Dec. 2020=100)	68	0.323	100.6	100.5	-2.3	0.0	-0.9	0.4	-0.1
Glass and glassware (Dec. 2021=100)	70	0.339	109.5	112.1	2.0	0.0	-0.1	0.0	2.4
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	3.202	239.4	242.5	1.9	-0.8	1.7	5.1	1.3
Pearls, precious stones, precious metals jewelry, coin (Dec. 2023=100)	71	3.202	106.4	107.7	-	-0.8	1.8	5.1	1.2
Base metals and articles of base metals	XV	5.821	228.7	232.3	-1.9	-0.5	0.8	0.4	1.6
Articles of iron or steel	73	1.710	191.7	191.4	-7.0	-0.3	-1.1	0.4	-0.2
Copper and articles thereof	74	0.546	424.2	452.1	19.2	-1.0	3.0	9.0	6.6
Aluminum and articles thereof	76	1.054	187.8	196.1	2.3	-1.0	5.4	-1.8	4.4
Tools, implements, cutlery, spoons and forks, of base metal; parts thereof	82	0.409	133.1	132.9	0.6	0.5	-0.4	-0.1	-0.2
Miscellaneous articles of base metal	83	0.503	141.9	141.8	-4.3	-0.1	-0.1	-0.5	-0.1
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	30.241	82.2	82.0	-0.8	0.1	-0.4	0.0	-0.2
Machinery and mechanical appliances; parts thereof	84	15.229	89.9	89.9	0.1	0.4	0.0	0.0	0.0
Electrical machinery and equip, sound and TV recorders & reproducers, parts	85	15.012	75.0	74.6	-2.1	-0.1	-0.5	-0.1	-0.5
Vehicles, aircraft, vessels and associated transport equipment	XVII	11.747	124.0	123.9	1.9	0.0	0.1	0.3	-0.1
Motor vehicles and their parts	87	10.989	123.2	123.1	2.1	0.1	0.1	0.3	-0.1
Aircraft, spacecraft, and parts thereof (Dec. 2020=100)	88	0.618	107.7	107.8	-0.6	-0.3	0.4	0.3	0.1
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	4.174	111.1	111.0	2.8	0.5	0.3	0.2	-0.1
Optical, photographic, measuring and medical instruments	90	3.874	106.7	106.7	2.9	0.6	0.5	0.3	0.0
Miscellaneous manufactured articles	XX	4.541	120.4	120.2	-0.1	0.0	0.2	0.0	-0.2
Furniture & stuffed furnishings; lamps & lighting fittings, nesoi; prefab bldgs	94	2.519	126.9	126.7	-0.8	-0.1	0.0	0.0	-0.2
Toys, games and sports equipment; parts and accessories thereof	95	1.710	107.2	107.1	0.4	0.0	0.3	0.0	-0.1
Miscellaneous manufactured articles	96	0.312	152.6	152.6	3.6	0.0	0.8	0.0	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 6. U.S. export price indexes and percent changes for selected categories of goods: May 2023 to May 2024 [2000=100, unless otherwise noted]

Description	Harmo- nized system	Relative import- ance Apr. 2024(1)	Index		Percent change
			Apr. 2024	May 2024	Annual	Monthly
					May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Live animals; animal products	I	1.982	270.4	272.6	3.5	0.3	2.0	2.0	0.8
Meat & edible meat offal (Dec. 2006=100)	02	1.286	235.3	238.4	9.3	-0.2	2.6	2.6	1.3
Vegetable products	II	3.976	234.7	239.4	-13.7	0.5	-3.6	-0.7	2.0
Edible fruit and nuts; peel of citrus fruit or melons	08	0.839	146.9	151.4	5.9	6.4	-1.0	-3.5	3.1
Cereals	10	1.123	229.2	238.7	-21.3	1.0	-5.1	0.7	4.1
Oilseeds and misc. grains, seeds, fruits, plants, straw and fodder	12	1.645	242.6	243.2	-18.2	-3.8	-4.8	2.1	0.2
Prepared foodstuffs, beverages, and tobacco	IV	2.852	181.1	178.5	-4.9	-0.6	-0.3	-1.4	-1.4
Preparations of cereals, flour, starch or milk; bakers' wares (Dec. 2023=100)	19	0.294	100.3	100.3	-	0.3	-0.1	0.1	0.0
Miscellaneous edible preparations (Dec. 2017=100)	21	0.634	120.9	120.0	2.1	0.3	2.1	0.2	-0.7
Residues and waste from the food industries; prepared animal feed	23	0.602	253.4	246.7	-20.5	-2.5	-3.4	-6.6	-2.6
Mineral products	V	16.275	294.4	280.1	3.7	2.3	-0.3	1.2	-4.9
Ores, slag and ash (Dec. 2012=100)	26	0.400	120.4	131.8	-4.6	-1.4	1.6	0.8	9.5
Mineral fuels, oils and residuals, bituminous substances and mineral waxes	27	15.681	282.7	267.8	4.1	2.4	-0.4	1.2	-5.3
Products of the chemical or allied industries	VI	12.381	158.2	157.5	-3.9	0.6	0.3	0.1	-0.4
Pharmaceutical products	30	4.395	103.5	103.3	-4.7	-0.1	-0.1	0.1	-0.2
Essential oils and resinoids; perfumery cosmetic or toilet preparations	33	0.817	146.9	146.7	-1.7	-2.1	0.0	-0.1	-0.1
Miscellaneous chemical products	38	2.328	194.0	194.0	0.9	0.6	0.4	0.3	0.0
Rubber and articles thereof	40	0.904	190.2	193.0	14.1	9.6	-0.8	0.2	1.5
Wood, wood charcoal, cork, straw, baskets and wickerwork (Dec. 2014=100)	IX	0.480	112.5	109.8	0.8	1.3	1.1	0.6	-2.4
Wood and articles of wood; wood charcoal (Dec. 2023=100)	44	0.480	104.9	102.4	-	1.4	1.0	0.7	-2.4
Woodpulp and recovered paper (Dec. 2019=100)	47	0.566	171.6	172.6	18.4	0.5	1.9	5.3	0.6
Cotton, including yarns and woven fabrics thereof	52	0.691	166.2	160.5	1.2	5.0	3.5	-0.4	-3.4
Stone, plaster, cement, asbestos, ceramics, glass etc.	XIII	0.742	153.9	153.6	4.8	-0.2	0.1	0.1	-0.2
Glass and glassware (Dec. 2019=100)	70	0.351	114.9	114.4	3.0	0.0	0.3	0.2	-0.4
Pearls, stones, precious metals, imitation jewelry, and coins	XIV	5.084	334.6	338.6	4.0	-1.1	3.6	3.8	1.2
Pearls, precious stones, precious metals; jewelry, coin (Dec. 2023=100)	71	5.084	107.2	108.5	-	-1.1	3.6	3.9	1.2
Base metals and articles of base metals	XV	4.435	210.9	213.3	0.3	0.7	-0.4	0.9	1.1
Copper and articles thereof	74	0.583	284.0	299.9	13.9	0.8	1.5	7.6	5.6
Aluminum and articles thereof	76	0.714	148.9	154.8	4.7	0.5	0.8	1.1	4.0
Miscellaneous articles of base metal (Dec. 2022=100)	83	0.333	105.7	105.7	3.9	1.8	-0.2	-0.1	0.0
Machinery, electrical equipment, TV image and sound recorders, parts, etc.	XVI	26.308	108.4	108.6	2.1	0.4	0.2	0.5	0.2
Machinery and mechanical appliances; parts thereof	84	15.530	133.0	133.1	2.8	0.5	-0.2	0.4	0.1
Electrical machinery and equipment and parts and accessories thereof	85	10.778	82.7	83.1	1.3	0.4	0.7	0.5	0.5
Vehicles, aircraft, vessels and associated transport equipment	XVII	9.698	155.3	155.3	3.5	0.1	0.1	0.4	0.0
Motor vehicles and their parts	87	7.238	129.7	129.7	3.9	0.1	0.0	0.4	0.0
Optical, photo, measuring, medical & musical instruments; & timepieces	XVIII	5.771	120.3	120.3	2.6	-0.2	-0.3	1.1	0.0
Optical, photographic, measuring and medical instruments (Dec. 2023=100)	90	5.720	101.3	101.3	-	-0.2	-0.2	1.1	0.0
Miscellaneous manufactured articles	XX	1.162	136.8	137.5	0.6	0.2	0.3	0.4	0.5
Furniture; stuffed furnishings; lamps and lighting fittings nesoi	94	0.573	150.2	151.0	0.7	0.0	0.1	0.2	0.5
Toys, games and sports equipment; parts and accessories thereof	95	0.453	120.7	121.5	2.8	0.3	0.8	0.7	0.7
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: May 2023 to May 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Apr. 2024(1)	Index		Percent change
		Apr. 2024	May 2024	Annual	Monthly
				May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Industrialized Countries(2)	100.000	147.7	147.2	1.7	0.6	0.5	1.4	-0.3
Nonmanufacturing	11.122	263.4	250.9	5.3	3.8	3.1	7.6	-4.7
Manufacturing	88.517	138.6	138.8	1.4	0.2	0.1	0.8	0.1
Canada	100.000	175.5	172.2	0.9	1.1	1.0	3.4	-1.9
Nonmanufacturing	32.705	258.1	244.1	4.6	3.7	3.1	8.0	-5.4
Manufacturing	66.497	156.8	156.5	-0.6	-0.1	0.2	1.3	-0.2
European Union	100.000	158.4	158.8	1.9	0.3	0.1	0.3	0.3
Manufacturing	99.322	154.1	154.4	1.9	0.3	0.1	0.4	0.2
France (Dec. 2003=100)	100.000	158.3	158.3	4.7	0.1	0.1	0.5	0.0
Germany (Dec. 2003=100)	100.000	124.7	124.6	-0.6	0.3	0.2	0.3	-0.1
United Kingdom (Dec. 2003=100)	100.000	139.1	139.4	2.6	0.7	0.3	0.7	0.2
Latin America(3)	100.000	175.4	173.6	2.9	0.5	0.8	0.8	-1.0
Nonmanufacturing	13.675	342.2	322.5	4.6	2.6	0.0	-0.8	-5.8
Manufacturing	86.070	141.4	141.0	2.6	0.2	0.9	1.1	-0.3
Mexico (Dec. 2003=100)	100.000	148.6	147.1	3.2	0.4	0.7	0.6	-1.0
Nonmanufacturing (Dec. 2008=100)	8.896	185.5	170.0	9.7	3.0	2.2	-3.0	-8.4
Manufacturing (Dec. 2008=100)	90.854	101.0	100.7	2.5	0.2	0.6	0.9	-0.3
Pacific Rim (Dec. 2003=100)(4)	100.000	102.2	102.0	-1.2	-0.1	-0.2	0.3	-0.2
China (Dec. 2003=100)	100.000	100.5	100.3	-2.1	-0.1	0.0	0.0	-0.2
Japan	100.000	101.1	101.1	0.3	-0.5	-1.0	-0.1	0.0
Taiwan (Dec. 2018=100)	100.000	108.6	108.5	-1.4	-0.1	0.0	0.2	-0.1
Asian NICs(5)	100.000	95.1	94.9	-0.3	-0.2	0.1	0.8	-0.2
ASEAN (Dec. 2003=100)(6)	100.000	100.8	99.8	-2.6	-0.2	0.2	0.8	-1.0
Asia Near East (Dec. 2003=100)(7)	100.000	225.2	217.8	3.4	1.4	1.7	4.5	-3.3
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: May 2023 to May 2024 [December 2017=100, unless otherwise noted]

Description	Relative import- ance Apr. 2024(1)	Index		Percent change
		Apr. 2024	May 2024	Annual	Monthly
				May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Industrialized Countries(2)	100.000	122.8	122.3	3.0	0.7	0.2	0.7	-0.4
Nonmanufacturing	15.194	146.5	142.7	8.9	3.5	-1.9	0.9	-2.6
Manufacturing	83.363	119.9	119.8	2.0	0.3	0.4	0.7	-0.1
Canada	100.000	128.9	128.8	1.7	0.3	0.4	0.4	-0.1
Nonmanufacturing (Dec. 2020=100)	7.423	137.5	135.1	5.2	1.2	0.6	-0.1	-1.7
Manufacturing (Dec. 2020=100)	90.929	120.1	120.2	1.3	0.3	0.3	0.3	0.1
European Union	100.000	123.4	121.6	4.1	1.6	1.2	1.2	-1.5
Nonmanufacturing	23.719	151.6	143.5	8.0	2.8	3.9	4.0	-5.3
Manufacturing	74.698	117.5	117.1	3.2	1.2	0.4	0.3	-0.3
Germany	100.000	124.4	124.0	6.4	0.3	0.6	1.1	-0.3
Latin America(3)	100.000	125.6	123.7	2.0	1.2	0.3	1.5	-1.5
Nonmanufacturing	7.119	137.4	135.5	0.9	-0.6	-5.8	1.3	-1.4
Manufacturing	92.328	124.8	122.9	1.9	1.3	0.8	1.5	-1.5
Mexico	100.000	125.2	124.0	1.1	0.7	0.3	1.9	-1.0
Nonmanufacturing	5.538	107.6	108.5	-6.1	-4.8	-9.5	2.9	0.8
Manufacturing	93.637	127.4	126.0	1.5	1.1	1.0	1.8	-1.1
Pacific Rim(4)	100.000	115.6	115.0	0.9	1.0	0.0	1.1	-0.5
Nonmanufacturing	20.745	122.2	119.3	-1.6	2.4	-1.7	2.6	-2.4
Manufacturing	78.047	115.6	115.4	1.6	0.6	0.5	0.7	-0.2
China	100.000	108.1	107.8	-1.7	0.2	0.4	0.8	-0.3
Nonmanufacturing	24.411	104.8	103.0	-8.2	-1.3	0.4	1.8	-1.7
Manufacturing	74.028	111.5	111.5	0.4	0.7	0.4	0.4	0.0
Japan	100.000	111.2	111.0	-1.8	1.3	-1.5	1.5	-0.2
Nonmanufacturing	21.551	123.6	123.6	-0.5	5.3	-7.2	-0.2	0.0
Manufacturing	77.214	108.1	107.7	-1.9	0.2	0.2	1.8	-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.
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: May 2023 to May 2024(1) [December 2017=100, unless otherwise noted]

Description	Index		Percent change
	Apr. 2024	May 2024	Annual	Monthly
			May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Industrialized Countries(2)	101.8	101.7	1.3	0.1	-0.3	-0.7	-0.1
Canada	96.5	98.3	0.8	-0.8	-0.6	-2.9	1.9
European Union	104.9	103.1	2.2	1.3	1.1	1.0	-1.7
Germany	114.8	114.5	7.1	0.0	0.4	0.7	-0.3
Latin America(3)	106.6	106.1	-0.9	0.8	-0.6	0.7	-0.5
Mexico	108.7	108.7	-2.1	0.3	-0.4	1.3	0.0
Pacific Rim(4)	111.3	110.9	2.0	1.1	0.2	0.8	-0.4
China	107.7	107.6	0.4	0.3	0.4	0.8	-0.1
Japan	105.0	104.9	-2.1	1.8	-0.6	1.5	-0.1
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: May 2023 to May 2024 [2000=100, unless otherwise noted]

Description	Relative import- ance Apr. 2024(1)	Index		Percent change
		Apr. 2024	May 2024	Annual	Monthly
				May 2023 to May 2024	Jan. 2024 to Feb. 2024	Feb. 2024 to Mar. 2024	Mar. 2024 to Apr. 2024	Apr. 2024 to May 2024
Air Freight
Import Air Freight	100.000	234.4	230.3	1.5	-3.4	1.6	5.4	-1.7
Europe (Dec. 2003=100)	20.872	149.7	144.8	-32.3	3.7	7.3	-15.0	-3.3
Asia	78.317	251.8	248.0	15.4	-5.4	0.0	13.0	-1.5
Export Air Freight	100.000	172.1	170.4	-5.3	2.4	1.1	-2.5	-1.0
Europe (Dec. 2006=100)	26.466	124.4	122.2	-11.4	1.6	1.0	-5.8	-1.8
Asia (Dec. 2011=100)	51.117	141.9	141.0	0.3	3.9	2.1	-1.7	-0.6
Inbound Air Freight	100.000	175.8	169.1	3.2	-2.1	6.3	3.0	-3.8
Europe (Dec. 2003=100)	24.961	135.0	126.8	-19.6	4.4	8.2	-9.0	-6.1
Asia	61.463	172.4	169.4	14.8	-3.2	4.9	8.4	-1.7
Outbound Air Freight	100.000	166.7	167.2	-4.5	2.1	-1.6	-0.9	0.3
Europe (Dec. 2003=100)	34.339	158.3	157.2	-7.1	1.0	1.0	-4.4	-0.7
Asia	44.584	182.1	184.9	-2.1	4.2	-4.0	1.5	1.5
Air Passenger Fares
Import Air Passenger Fares	100.000	180.8	181.5	-1.6	0.0	0.3	1.2	0.4
Europe	46.179	194.0	208.1	-4.0	1.3	-1.5	-0.4	7.3
Asia	11.947	167.9	172.0	-7.0	-2.5	7.2	-0.8	2.4
Latin America/Caribbean	9.310	142.2	137.7	-9.0	6.7	7.3	-9.0	-3.2
Export Air Passenger Fares	100.000	182.1	176.7	-2.5	-10.1	4.0	0.5	-3.0
Europe	35.197	208.0	218.8	-1.9	-4.4	4.7	-2.7	5.2
Asia	12.163	190.5	189.2	-6.1	-18.8	4.4	1.9	-0.7
Latin America/Caribbean	32.557	183.6	158.8	-11.6	-15.8	3.2	2.7	-13.5
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. 

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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