INTERNATIONAL MERCHANDISE TRADE INDEX - September 2014

[Base: September Quarter 2008 = 100.0]

 

FBoS Release No: 80, 2014                                                                

16th December 2014


 

 

The Terms of Trade [TOT] is a ratio of two price indexes: one for exports and the other for imports.

A rise in the index means that Fiji can buy more imports for the same amount of exports.

 

Key facts

The following movements occurred in the September quarter of 2014 when compared with the June quarter of 2014:

  • The international merchandise terms of trade index rose by 0.4 percent;
  • Export prices for goods rose by 0.1 percent and
  • Import prices for goods fell by 0.3 percent.

 

Table 1: Summary     

imtiSep14a

 

imtiSep14b 

 

Commentary

The seasonally unadjusted international merchandise TOT index for the September quarter of 2014 stood at 100.3. This is an increase of 0.9 percent over the September quarter of 2013.

The export and import price indexes increased by 1.0 percent and 0.1 percent respectively.

There were significant price changes in the following export and import items when comparisons are made to the June quarter of 2014 and September quarter of 2013 periods:

 

 

Export Price Index

imtiSep14c imtiSep14d

 

 

Changes over the June quarter of 2014

 

The overall Export Price Index [XPI] for the September quarter of 2014 stands at 139.3, an increase of 0.1 percent when compared to the June quarter of 2014 [139.2]. Contributing to this increase were higher prices recorded for the following categories and specific items:

  • Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard; paper and paperboard and articles thereof increased by 1.8 percent due to high export prices of cartons;
  • Live animals; animal products increased by 1.5 percent due to high export prices of fish, milk, and coral and
  • Vegetable products increased by 1.3 percent due to high export prices of cassava, dalo, pawpaws, ginger and turmeric. 

 

Changes over the September quarter of 2013

 

Compared to the September quarter of 2013 [137.9], the XPI for the September quarter of 2014 increased by 1.0 percent. Contributing to this increase were higher prices recorded for the following categories and specific items:

  • Vegetable products increased by 5.3 percent due to high export prices of cassava, dalo, pawpaws, ginger, turmeric and tea;
  • Live animals; animal products increased by 4.2 percent due to high export prices of fish, milk, butter, ghee, eggs and coral and
  • Products of the chemical or allied industries increased by 3.5 percent due to high export prices of pharmaceuticals products, paints, essential oils and soaps.  

 

 

Import Price Index

imtiSep14e imtiSep14f
 

 

Changes over the June quarter of 2014

 

The overall Import Price Index [MPI] for the September quarter of 2014 stands at 138.9, a decrease of 0.3 percent when compared to the June quarter of 2014 [139.3]. Contributing to this decrease were lower prices   recorded for the following categories and specific items: 

  • Plastics and articles thereof; rubber and articles thereof decreased by 2.1 percent due to  low import prices  of  preforms, bottle closures, plastic buckets, and plastic bags;
  • Textiles and textiles articles decreased by 1.6 percent due to low import prices of  man-made staple fibres and
  • Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard; paper and paperboard and articles thereof decreased by 1.2 percent due to low import prices of photocopying paper, brown paper, and corrugated paper and paperboard. 

 

Changes over the September quarter of 2013

 

Compared to the September quarter of 2013 [138.8], the MPI for the September quarter of 2014 increased by 0.1 percent. Contributing to this increase were higher prices recorded for the following categories and specific items:  

  • Live animals; animal products increased by 4.4 percent due to high import prices of lamb fores, mutton, sardines(frozen), butter and milk powder;
  • Wood and articles of wood; wood charcoal; cork and articles of cork; manufacturers of straw, of   esparto or of other plaiting materials; basketware and wickerwork increased by 3.2 percent due to  high import prices of hardboard and fire resistant board and  
  • Vegetable products increased by 2.3 percent due to high export prices of potatoes and onions.

 

Click for tables on IMTI September 2014

 

For further enquiries, please contact Ms. Uma Reddy on telephone 3315822 ext. 386239 or email

 

The International Merchandise Trade Indexes release for the December quarter of 2014 will be available on 31st March 2015.