The terms of trade, the indicator that shows the relationship between export and import prices, grew 11.8% in August of this year compared to the same month in 2023, the
"This advance was underpinned by a 9.2% increase in export prices and a 2.3% decrease in import prices," it indicated.
The BCR explained that export prices increased mainly due to the rise in prices of gold (+28.9%), zinc (+27.6%), coffee (+21.4%), and non-traditional agricultural products (+18.4%).
"On the other hand, the fall in import prices was due to lower prices of oil and derivatives (-12.1%) and food intended as inputs (-9.7%)," it indicated.
The issuing entity stated that, compared to July of this year, the terms of trade decreased by 1% due to the fall in export prices.