Economy, Business And Markets

Export Price Index on the Rise

Export Price Index on the RiseExport Price Index on the Rise

The export price index for the ninth month of the Iranian calendar (Nov. 22-Dec. 21) stood at 285.9, registering a 3.4% increase compared to the preceding month and a 12.1% rise compared with last year’s corresponding period, the Central Bank of Iran’s latest data show.

The average EPI during the nine months to Dec. 21 witnessed a 17.3% 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.

The US dollar and euro grew by 2.24% and 3.35% in the ninth month and 11.78% and 22% during the first nine months of the current fiscal year, reaching 41,940 and 50,170 rials respectively.

EPI for chemical and downstream products, petroleum-based goods and mineral products had the highest YOY rise, recording a 33.9%, 29.9% and 28.7% growth respectively. These products included methanol, urea, ammonia, liquefied butane, polyethylene, cement, bitumen, copper concentrate, copper cathode, hot-rolled coil, galvanized steel pipes, tiles, ceramics and lead ingot.

Other products rising in value month-on-month included methanol, urea, pistachio, ammonia, evaporative coolers, frozen fish, biscuits, raisins, vegetable oil, handmade carpet, tomato paste, cake, ice cream, white chocolate, car radiator, glass and plastic hose.

EPI for liquefied propane, saffron, tractors, almond and dates declined month-on-month.

A closer look at the figures reveals that EPI for petrochemical products saw an increase of 6.7%.

The index for base metals and their downstream products, as well as vegetable products, witnessed a considerable YOY growth, rising 25.4% and 16.3% respectively.

EPI started the fiscal 2017-18 at 241 points.

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