Iran EPI Sees 5.3% Growth MoM, 22.3% YOY

EghtesadOnline: The export price index stood at 300.6 in the 10th Iranian month of Dey (Dec. 22-Jan. 20), registering a 5.3% increase compared to the preceding month and a 22.3% rise compared with last year’s corresponding period, the Central Bank of Iran’s latest data show.

News ID: ۷۸۲۰۴۷

14 March 2018

The average EPI during the 10 months to Jan. 20 witnessed a 17.8% growth year-on-year, IRNA reported.

EPI is primarily affected by two factors: foreign exchange rates and global commodity prices.

The index is calculated for the prices of one or a basket of commodities in international trading using, ideally, FOB export prices, Financial Tribune reported.

The US dollar and euro grew by 8.08% and 12.57% against the rial respectively in Dey. The two currencies also gained 20.94% and 37.35% during the 10 months of the current fiscal year, reaching 45,330 and 56,480 rials respectively.

EPI for the following products had the highest growth among all goods compared to the month before: methanol, liquefied propane, pistachio, styrene, ammonia, tractors, copper concentrate, copper cathode, liquefied butane, light polyethylene, aluminum ingot, plastic hose, yogurt, zinc ingot, heavy polyethylene, evaporative coolers, shrimps, raisins, hot-rolled steel, bitumen, detergents, biscuits and wafers, tiles and ceramics, dates, paraffin, frozen fish, vegetable oil, ice cream, ferromolybdenum, car radiator, sandals, galvanized pipes, cocoa-free white chocolate, lead ingot, glass, iron beam, powdered liquorice essence, fruit juice, calcium carbonate powder and water heater.

For other products such as hand-woven wool carpet, urea, tomato paste and saffron, EPI dropped compared to the month before.

EPI for chemical industries and related products had the highest YOY rise, recording a 35.3% uptick compared with last year’s similar period. Base metals came second with a 30.9% YOY growth in EPI, followed by petrochemical products with 29.4% and mineral products with 27%.

Rankings were the same on a month-on-month basis, as chemical industries came on top with 10.3%, followed by base metals with 7%, petrochemical products with 6.6% and mineral products with 4.1%.

EPI started the fiscal 2017-18 at 241 points.