In February 2009, the terms of trade of imported and exported goods were practically the same as in February 2008. Relative to February 2008, prices of imported as well as exported goods dropped by an average of 7 percent. In the four preceding months, terms of trade improved considerably.
The decline in import prices in February was partly caused by considerably lower prices for petroleum and petroleum derivatives compared to one year previously. Lower export prices were also partly the result of lower prices for petroleum derivatives.
More information on terms of trade can be found in the article “Changes in the terms of trade in goods”.
Changes in terms of trade