The terms of trade, an indicator that shows the relationship between export and import prices, grew by 10.4% in 2024, mainly due to higher export prices, the
This represents an increase of nearly 6 percentage points compared to the result at the end of 2023 (+4.8%), according to the issuing entity.
Similarly, it is one of the highest growths in the last decade, only surpassed by the result obtained in 2021 (+12.2%) and above other significant results, such as in 2020 (+9.1%) and 2017 (+7.5%).
The terms of trade recorded a 9% year-on-year increase in December 2024, rising from 115.1 in 2023 to 125.5 at the end of last year.
The BCR detailed that export prices increased by 9.4% over the past year, mainly due to gold (+29.6%), zinc (+30.1%), coffee (+38.1%), natural gas (+75.2%), and non-traditional fishery products (+26.4%).
Meanwhile, import prices rose slightly by 0.3%.
Regarding November 2024, the terms of trade increased by 0.9% year-on-year, due to a 1.2% rise in export prices, mainly driven by the increase in copper and natural gas prices.
Meanwhile, import prices rose by 0.3%.