U.S. terms of trade with Latin America rise 2.6 percent for year ending February 2019

March 21, 2019

Terms of trade measure the change in the purchasing power of U.S. exports compared with imports. From February 2018 to February 2019, the U.S. terms of trade with countries in Latin America rose 2.6 percent. Over the same period, the U.S. terms of trade with Canada rose 2.5 percent. Terms of trade with Pacific Rim countries fell 0.7 percent from February 2018 to February 2019.

Percent change in U.S. terms of trade for selected countries and groups of countries, February 2018 to February 2019
Country or group of countries Percent change

Latin America(1)

2.6%

Canada

2.5

Industrialized Countries(2)

1.4

European Union

1.4

Mexico

0.8

Germany

0.4

Pacific Rim(3)

-0.7

China

-1.8

Japan

-2.4
Footnotes:

(1) Mexico, Central America, South America, and the Caribbean.

(2) Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

(3) China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized Countries.

Among Pacific Rim countries, U.S. terms of trade with China fell 1.8 percent over the year. The U.S. terms of trade fell because export prices to China dropped 2.5 percent, while import prices from China declined by 0.7 percent.

These data are from the International Price program. To learn more, see "U.S. Import and Export Price Indexes — February 2019." Also see our blog post about measuring terms of trade. We also have more charts on U.S. import and export prices. Import and export price changes may be revised in each of the 3 months after original publication.

The countries that compose the groups are:

Latin America: Mexico, Central America, South America, and the Caribbean.

Industrialized countries: Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.

Pacific Rim: China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines, and the Asian Newly Industrialized Countries.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, U.S. terms of trade with Latin America rise 2.6 percent for year ending February 2019 on the Internet at https://www.bls.gov/opub/ted/2019/u-s-terms-of-trade-with-latin-america-rise-2-point-6-percent-for-year-ending-february-2019.htm (visited September 15, 2019).

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