The General Export Price Index of industrial products registered an interannual decrease of 2.1% last March, a rate that extends the decline in February by one tenth and is its largest drop since August 2023, as reported this Monday the National Institute of Statistics (INE).

With the fall in March, the export prices of industrial products have chained twelve consecutive months of declines after they went negative in April 2023 after 27 months of year-on-year increases.

According to Statistics, among the sectors with negative influence, capital goods stood out, which cut its annual rate by 1.1 points in March, to 1.8%, due to the lower prices in the manufacture of motor vehicles.

For its part, among the sectors with positive influence, intermediate goods stood out, which presented an annual rate of -4.3%, five tenths above the February rate, due to the increase in the cost of the manufacture of basic chemical products. .

Excluding energy, the annual rate of the general export price index decreased two tenths in March, to -0.3%, standing 1.8 points above the rate of the general index.

In monthly rate (March over February), export prices of industrial products fell by 0.2% after reducing by 24.5% the prices of the production, transportation and distribution of electrical energy and the manufacture of locomotives and material railway (-1.1%).


Regarding the import prices of industrial products, these decreased by 2.6% year-on-year in the third month of the year, moderating by 1.7 points the decrease experienced the previous month.

With the decrease in March, import prices have had 13 consecutive months of negative interannual rates, although March of this year has been the least marked decline since March 2023.

By sector, energy raised its interannual rate by 8.4 points, to -5.8%, due to the rise in prices for crude oil and natural gas extraction and coke plants and oil refining.

For their part, intermediate goods increased their interannual rate 1.1 points, to -4.8%, due to higher prices in the chemical and metallurgy industries.

Excluding energy, the annual rate of import prices of industrial products increased two tenths, to -1.9%, standing seven tenths above the general rate.

In monthly values ​​(March over February), export prices of industrial products increased by 0.4% due, mainly, to the higher cost of crude oil and natural gas extraction (2.7%), coke plants and oil refining (1.9%) and the chemical industry (0.8%).