Last Modified Date: July 18, 2017
Announcement - The Bureau of Labor Statistics is utilizing new index estimation and review systems
for the import and export price indexes effective with the release of the June 2017 price data on July 18,
2017. The new estimation and index review systems, the first major improvement to the existing
systems in over 20 years, are redesigned, state-of-the-art systems with improved flexibility and review
capabilities. The changes to the systems will not have a significant effect on the estimates of price
change for the U.S. import and export price indexes.
Import and Export Merchandise 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) include
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 Indexes - Products have been 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 Indexes - Products have been 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
Services Price Indexes - Starting in September 2008, the import air passenger fares indexes represent
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are
calculated from data obtained from an airline consulting service. These data include tickets sold by
travel agencies and travel websites. Tickets sold directly by the airlines are excluded, as are frequent
flyer tickets generally. Starting in January 2008, the export air passenger fares indexes represent changes
in the average revenue per passenger received by U.S. carriers from foreign residents and are calculated
from data collected directly from airlines. These data include frequent flyer tickets and those sold by
consolidators. Taxes and fees are included in the import air passenger fares indexes and excluded from
the export air passenger fares indexes. 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
represent transactions between U.S. and foreign residents) and international (which represent
transactions inbound to and outbound from the U.S.). Fact sheets specifying detailed information for
each services industry are available at www.bls.gov/mxp under "MXP Publications."
Import Indexes by Locality of Origin - Prices used in these indexes are a subset of the data collected
for the import price indexes. Beginning with January 2002, the indexes are defined by locality of origin
using a nomenclature based upon the North American Industry Classification System (NAICS).
Nonmanufactured goods are defined as NAICS 11 and 21, and manufactured goods are defined as
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.
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. Merchandise and services indexes also can be used to study U.S.
competitiveness and to compute price elasticities, and the merchandise import indexes by country or
region of origin are useful in terms of trade 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
Information from this release will be made available to sensory impaired individuals upon request.
Voice phone: (202)-691-5200; Federal Relay Service: 1-(800)-877-8339.