Small improvement in terms of trade

In March 2009, terms of trade of imported and exported goods had improved marginally compared to March 2008. Prices of imported and exported goods were 8.0 and 7.5 percent down respectively on one year previously. In February, terms of trade deteriorated somewhat.

The decline in import prices in March was partly caused by a slump in prices of petroleum and petroleum derivatives relative 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