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Economic News Release
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Table 9 U.S. Terms of Trade Indexes, by Locality

Table 9. U.S. terms of trade indexes and percent changes by locality: November 2024 to November 2025(1) [December 2017=100, unless otherwise noted]
Description Index Percent change
Oct.
2025		 Nov.
2025		 Annual Monthly
Nov.
2024
to
Nov.
2025		 Jul.
2025
to
Aug.
2025		 Aug.
2025
to
Sep.
2025		 Sep.
2025
to
Oct.
2025		 Oct.
2025
to
Nov.
2025

Industrialized Countries(2)

 - 106.7 3.0 0.4 0.0 - -

Canada

 - 105.6 5.0 0.7 0.2 - -

European Union

 - 102.2 0.6 -0.1 -0.6 - -

Germany

 - 119.7 3.7 0.3 0.4 - -

Latin America(3)

 - 105.2 2.3 0.1 1.0 - -

Mexico

 - 109.7 4.6 0.0 0.9 - -

Pacific Rim(4)

 - 111.6 2.7 0.1 -0.4 - -

China

 - 114.4 6.6 0.0 0.8 - -

Japan

 - 111.0 3.5 2.6 1.5 - -

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.
Oct 2025 index values and related one-month percent changes are not available due to the 2025 lapse in appropriations.
Regions are not mutually exclusive.
Dash = Not available
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Last Modified Date: January 15, 2026