Changes in Iran's Q1 Export, Import Price Indices (March-June 2018)

EghtesadOnline: The export price index (using the year ending March 2012 as a base year using rial) stood at 226.2 for the first quarter of the current fiscal year (March 21-June 21).

News ID: ۷۸۴۰۷۴

24 September 2018

This marks an 18.1% increase compared with the preceding quarter (winter) and a 28.5% rise compared with last year's same quarter, the Statistical Center of Iran’s latest data show.

EPI tracks changes in the price that firms and countries receive for export products. Increases in the EPI are typically due to strong foreign demand or higher internal costs within the exporter’s country.

Generally, only increases caused by strong foreign demand are beneficial. However, the overall effect of such increases is debatable, Financial Tribune reported.

The average EPI during the four quarters leading to June 21 also witnessed a 12.2% growth year-on-year.

The first quarter also saw EPI stand at 124.4 in dollar terms, registering a 10.1% increase compared with the preceding quarter and a rise of 12.9% compared with the same quarter of last year. The average EPI during the four quarters leading to June 21 also witnessed a 6% growth year-on-year.

The import price index–an economic indicator measuring real output in various industries, with industrial production and capacity levels expressed as an index level relative to a base year, which SCI considers to be fiscal 2011-12 standing at 100–stood at 712.8 in terms of rial for the same quarter under review to register a 44.2% increase compared with the preceding quarter (winter) and a 45.9% rise compared with the same quarter of last year.

The average IPI during the four quarters leading to June 21 also witnessed a 9.4% growth year-on-year.

The first quarter saw IPI stand at 247.1 in terms of dollar, registering a 6.2% increase compared with the previous quarter and a rise of 3%  compared with the same quarter of last year. The average IPI during the four quarters leading to June 21 also witnessed a 3.4% decrease year-on-year.

According to the Islamic Republic of Iran's Customs Administration, Iran’s non-oil foreign trade during the first three months of the current fiscal year stood at $22.87 billion, indicating a nearly 5.8% rise compared with last year’s corresponding period.

The average price of each ton of exported commodities in Q1 hovered around $417, up 17% while that of imported commodities stood at about $1,344, up 0.5% compared to last year’s same period.

Exports hit 27.88 million tons worth $11.61 billion, indicating a 15.58% increase in value, as imports amounted to 8.37 million tons worth $11.25 billion, down 2.76% in value year-on-year.