Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
September 1990
Share
  • ShareShare
Show Summary Details
Statistical Appendix
Appendix Table 1.Non-Fuel Primary Commodities: Indices of Prices in SDRs and Major Currencies, 1970–First Quarter 1990(Indices: 1980=100)
Nominal Prices
YearsSDRsU.S.

dollars
Pounds

sterling
Deutsche

mark
French

francs
Japanese

yen
Real

Prices 1
1970483736754959106
197147363569475699
197247393668465298
1973696360926675136
19748376761098798136
1975696467866584101
1976786990967991109
19778677102988991111
197881789486837298
19799595103959592104
1980100100100100100100100
198199901041121158794
198295811071071258886
1983104861311201559094
1984111871521371809199
198597761381231628085
19868173116881205469
19878079112781135067
19889598128951385578
198999981381011475978
1987I7472108731044862
II7676107751084865
III8280115811165268
IV8790119841225473
1988I8892120851245274
II95100126941365579
III98981341011465880
IV98102132991465680
1989I1031041381061555982
II1021001431061556181
III98941371001455976
IV9492135921355873
1990I8990126841225969
Source: Commodities Division, IMF Research Department. Data relate to a “world” index, that is, to a single basket of 34 non-fuel primary commodities and do not reflect differences in the composition of the basket of primary commodities exported or imported by different countries. See Appendix I of International Monetary Fund, Primary Commodities: Market Developments and Outlook, World Economic and Financial Surveys (Washington, May 1986) for a description of this index.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Source: Commodities Division, IMF Research Department. Data relate to a “world” index, that is, to a single basket of 34 non-fuel primary commodities and do not reflect differences in the composition of the basket of primary commodities exported or imported by different countries. See Appendix I of International Monetary Fund, Primary Commodities: Market Developments and Outlook, World Economic and Financial Surveys (Washington, May 1986) for a description of this index.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Appendix Table 2.Non-Fuel Primary Commodities: Indices of Prices in SDRs and U.S. Dollars for Commodity Exports of Industrial Countries and of Developing Countries, 1970–First Quarter 1990(Indices: 1980=100)
YearsNominal Prices 1Real Prices 1,2
SDRsU.S. dollars
Industrial countriesDeveloping countriesIndustrial countriesDeveloping countriesIndustrial countriesDeveloping countries
19704944373310796
19714941383210387
19724943413610491
197376607055150119
197487778071144128
19757363685910793
197679787069109108
197778957085101123
19787984768095101
197995959495104105
1980100100100100100100
19811029593879790
1982989283788883
198310710188839691
198411211088879998
1985989776768685
1986808372756871
1987827881776965
198810188104918373
198910691104908472
1987I757372716362
II797478736762
III847983777166
IV898592877571
1988I918496897771
II10088106938474
III10690105898673
IV10591108948574
1989I10995110968876
II10895106938675
III10589102868270
IV10184100838066
1990I968197827664
Source: Commodities Division, IMF Research Department.

See Appendix I of IMF Primary Commodities: Market Developments and Outlook, World Economic and Financial Surveys (Washington, May 1986) for commodity weights in these indices.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Source: Commodities Division, IMF Research Department.

See Appendix I of IMF Primary Commodities: Market Developments and Outlook, World Economic and Financial Surveys (Washington, May 1986) for commodity weights in these indices.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Appendix Table 3.Petroleum: Indices of Prices in SDRs and Major Currencies, 1970–First Quarter 1990 1(Indices: 1980=100)
Nominal Prices
YearsSDRsU.S.

dollars
Pounds

sterling
Deutsche

mark
French

francs
Japanese

yen
Real

Prices 2
1970866128917
19719771491120
19729871491120
197310981391119
197434323145364156
197532303140303947
197638334346384452
197740364846424352
197838374440393446
197983829083838191
1980100100100100100100100
19811069611111912393100
1982104881181181389794
198397801231121448487
1984101801391241648390
198597761381231628085
198643396247642937
198750507150713242
198839405238562332
198949486950733039
1987I51497450713343
II51517250723243
III53527553763444
IV47486445662939
1988I41435539572434
II41435541592434
III38385339572331
IV34354634501927
1989I46466147692637
II51507153773040
III48476850722938
IV52517551743240
1990I52537449713441
Source: Commodities Division, IMF Research Department.

Index of average of spot prices for U.K. Brent, Dubai, and Alaska North Slope crude, equally weighted. See Appendix Table 4.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Source: Commodities Division, IMF Research Department.

Index of average of spot prices for U.K. Brent, Dubai, and Alaska North Slope crude, equally weighted. See Appendix Table 4.

Non-fuel commodity prices deflated by the index of unit values of manufactured goods exports.

Appendix Table 4.Petroleum: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsAverage of Petroleum Prices 1U.K. BrentDubaiAlaska North SlopeYearsAverage of Petroleum Prices 1U.K. BrentDubaiAlaska North Slope
(In SDRs a barrel)(In U.S. dollars a barrel)
197922.624.923.119.9197929.232.129.825.7
198027.329.127.525.1198035.537.935.832.7
198128.931.129.126.6198134.136.734.331.4
198228.430.328.826.2198231.433.431.829.0
198326.527.926.924.8198328.429.828.726.5
198427.628.126.827.8198428.328.827.528.5
198526.626.926.126.7198527.027.326.527.1
198611.812.411.111.8198613.814.513.113.9
198713.814.213.114.0198717.818.316.918.1
198810.511.19.810.6198814.215.013.214.3
198913.414.212.313.8198917.218.215.717.7
1987I13.814.213.413.91987I17.517.916.917.6
II13.914.313.214.3II18.018.617.118.5
III14.514.913.614.9III18.519.017.419.1
IV12.813.412.214.9IV17.217.916.417.2
1988I11.111.510.711.01988I15.215.814.615.1
II11.311.810.611.4II15.416.214.515.6
III10.511.19.710.6III13.614.412.613.8
IV9.210.18.39.4IV12.413.511.112.6
1989I12.513.311.412.71989I16.417.515.016.8
II13.914.612.614.5II17.718.516.018.4
III13.213.912.213.5III16.617.615.417.0
IV14.014.912.814.4IV18.019.216.518.5
1990I14.215.112.714.71990I18.719.816.719.3
Source: Commodities Division, IMF Research Department.

Average of spot prices for U.K. Brent (light crude), Dubai (medium crude), and Alaska North Slope (heavy crude), equally weighted.

Source: Commodities Division, IMF Research Department.

Average of spot prices for U.K. Brent (light crude), Dubai (medium crude), and Alaska North Slope (heavy crude), equally weighted.

Appendix Table 5.Cereals: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex

of Cereal

Prices 1
Wheat 2Maize 3Rice 4YearsIndex

of Cereal

Prices 1
Wheat 2Maize 3Rice 4
(1980 = 100)(In SDRs a ton)(1980 = 100)(In U.S. dollars a ton)
197990.712489259197990.1160116334
1980100.0133973331980100.0173126434
1981114.41481114091981103.8175131483
1982101.814598266198286.5160108293
1983113.4147127259198393.1157136277
1984115.1149133246198490.7152136252
1985100.4134111214198578.1136112217
198672.09875179198664.911588210
198761.98758177198761.511376230
198879.810880225198882.2145107302
198992.213287250198990.8169111320
1987I60.489551621987I58.511269205
II62.38861164II62.011478213
III60.68558178III59.510873228
IV64.18861204IV66.111881274
1988I68.594642201988I72.012888301
II73.79973220II77.4135100301
III89.211894235III88.9153122305
IV87.612287223IV90.4164117300
1989I91.9133902131989I92.9175118279
II95.513691252II93.1173115319
III91.813182287III88.9165104361
IV89.712884251IV88.5164108322
1990I86.3123822361990I87.3162107311
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: wheat, 48 percent; maize, 36 percent; rice, 16 percent.

U.S. No. 1 hard winter wheat, ordinary protein, f.o.b. Gulf of Mexico ports.

U.S. No. 2 yellow corn, f.o.b. Gulf of Mexico ports.

Thai white milled rice, 5 percent broken, f.o.b. Bangkok.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: wheat, 48 percent; maize, 36 percent; rice, 16 percent.

U.S. No. 1 hard winter wheat, ordinary protein, f.o.b. Gulf of Mexico ports.

U.S. No. 2 yellow corn, f.o.b. Gulf of Mexico ports.

Thai white milled rice, 5 percent broken, f.o.b. Bangkok.

Appendix Table 6.Vegetable Oils and Protein Meals: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex of Prices of

Vegetable Oils and

Protein Meals 1
Soybean

Oil 2
Palm

Oil 3
Sunflower-

seed Oil 4
Rapeseed

Oil 5
Coconut

Oil 6
Groundnut

Oil 7
Soybean

Meal 8
Groundnut

Meal 9
Fish

Meal 10
(1980 = 100)(In SDRs a ton)
1979103.6513506590492762688188184306
1980100.0460448486439517661199209388
1981105.5430484542410483884214228396
198293.8405403478378422529197189320
1983113.2493469524470686668222214423
1984127.27077117476691,126990192183364
198597.5567493597536588894155144276
198671.6292219313264253487157141273
198770.5258265279235341387157125296
198892.4345325358319421441199156407
198987.4337273376322403606193156319
1987I66.1245263264234310398143126257
II70.4267263304240321398155131280
III71.1253246274223366375158106318
IV74.4268286272247370376172137329
1988I78.1301309304284393376163130349
II90.8339322335305404413197149406
III106.3414359440382465544224178454
IV94.7328313353305422430213168413
1989I94.2322300340313411499211169350
II93.6359308386331446617203160307
III82.1334255397315403641181146291
IV79.6333231383331353664175149326
1990I75.7326212373319303711160158315
(1980 = 100)(In U.S. dollars a ton)
1979102.8662654762636985889243238395
1980100.0598583633571673859259272504
198195.85075716394835701,043253269468
198279.6447445529417467585218208354
198392.8527501558500730711238229453
1984100.47257297676871,1551,017197188373
198575.8576501602540590905157146280
198664.4342257366308296569185166321
198770.2334343360305442500203162383
198895.3463437480427565591268209544
198986.1432350482413517775247200409
1987I64.0309331333295391501180159324
II70.0345341393310415515200170363
III69.8323314350284467478202135405
IV76.8360384365331496504231184442
1988I82.0412423416388537515223178478
II95.3463440458416552564270203556
III105.9537465572496603705291231589
IV97.7441420473409567578287225555
1989I95.2424394446412540656278223461
II91.2455390490419566782258203390
III79.5420321500396508808228185366
IV78.5427296491425454853225191419
1990I76.5429279491420399936211208414
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: soybeans, 41 percent; soybean meal, 24 percent; soybean oil, 11 percent; palm oil, 10 percent; coconut oil, 6 percent; fish meal, 5 percent; groundnut oil, 2 percent; groundnut meal, 1 percent; sunflowerseed oil and rapeseed oil are not included in the index.

Dutch, f.o.b. ex-mill Rotterdam.

Sumatra/Malaysian oil, c.i.f. Northwest European ports.

Any origin, ex-tank Rotterdam.

Dutch, f.o.b. ex-mill.

Philippine/Indonesian oil, in bulk, c.i.f. Rotterdam.

Any origin, c.i.f. Rotterdam.

U.S. origin, c.i.f. Rotterdam.

Argentine meal, in bulk, c.i.f. Rotterdam.

Any origin, c.i.f. Hamburg.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: soybeans, 41 percent; soybean meal, 24 percent; soybean oil, 11 percent; palm oil, 10 percent; coconut oil, 6 percent; fish meal, 5 percent; groundnut oil, 2 percent; groundnut meal, 1 percent; sunflowerseed oil and rapeseed oil are not included in the index.

Dutch, f.o.b. ex-mill Rotterdam.

Sumatra/Malaysian oil, c.i.f. Northwest European ports.

Any origin, ex-tank Rotterdam.

Dutch, f.o.b. ex-mill.

Philippine/Indonesian oil, in bulk, c.i.f. Rotterdam.

Any origin, c.i.f. Rotterdam.

U.S. origin, c.i.f. Rotterdam.

Argentine meal, in bulk, c.i.f. Rotterdam.

Any origin, c.i.f. Hamburg.

Appendix Table 7.Sugar, Bananas, and Meat: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex of

Sugar

Prices 1
SugarBananas 5Beef 6Lamb 7
Free

Market 2
European

Community 3
United

States 4
(1980 = 100)(In SDR 0.01 a pound)(In SDRs a box)(In SDRs a pound)
197948.67.514.912.04.61.010.84
1980100.022.017.023.15.20.951.01
198171.814.316.116.76.20.951.06
198259.27.616.418.06.20.980.98
198363.97.916.420.67.31.040.82
198457.55.115.621.26.51.010.86
198553.54.015.920.06.80.960.82
198652.95.215.917.95.90.810.79
198752.25.216.616.95.30.840.76
198858.17.617.716.56.00.850.81
198965.710.017.917.86.90.910.82
1987I52.85.715.617.25.50.810.77
II51.85.116.217.05.60.830.77
III51.64.616.917.25.40.840.75
IV52.75.517.516.24.70.850.76
1988I54.96.517.616.15.70.850.82
II56.36.818.016.36.80.810.84
III62.49.117.517.25.70.870.80
IV58.88.017.816.25.80.870.80
1989I60.18.118.316.76.60.850.79
II64.79.717.717.88.40.870.83
III69.911.218.118.76.10.920.84
IV68.311.117.718.06.40.990.83
1990I68.211.218.017.67.60.890.87
(1980 = 100)(U.S. cents a pound)(In U.S. dollars a box)(In U.S. dollars a pound)
197948.39.719.315.55.91.311.09
1980100.028.722.130.06.81.251.31
198165.416.918.919.77.31.121.25
198250.38.418.119.96.81.081.09
198352.48.517.622.07.81.110.88
198445.35.216.021.76.71.030.88
198541.84.116.120.46.90.980.84
198647.76.118.621.06.90.950.93
198751.96.821.421.86.81.080.98
198859.910.223.822.18.11.141.09
198964.712.823.022.88.81.161.05
1987I51.27.219.721.77.01.030.97
II51.56.621.022.07.21.081.00
III50.65.821.622.06.91.080.95
IV54.47.423.421.86.31.151.02
1988I57.78.924.022.07.81.171.13
II59.29.324.622.39.31.111.14
III62.211.822.722.47.41.131.03
IV60.710.824.021.87.81.171.08
1989I60.710.624.022.08.71.121.05
II63.112.322.422.610.71.101.05
III67.614.122.823.67.71.161.05
IV67.414.322.723.08.21.281.06
1990I68.914.723.723.210.01.171.14
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: free market, 50 percent; European Community, 16 percent; United States, 34 percent.

International Sugar Agreement price, which is an average of the New York contract No. 11 spot price and the London daily price, f.o.b., Caribbean ports.

Unpacked sugar, c.i.f. European ports.

U.S. future import price contract No. 14. Prior to June 1985, New York contract No. 12 spot price, c.i.f. Atlantic and Gulf of Mexico ports.

Central American and Ecuador, f.o.b. U.S. ports. A box is 40 pounds.

Frozen boneless beef, Australian and New Zealand origin, f.o.b. U.S. ports.

Frozen New Zealand lamb, grade PL, Smithfield market, London.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: free market, 50 percent; European Community, 16 percent; United States, 34 percent.

International Sugar Agreement price, which is an average of the New York contract No. 11 spot price and the London daily price, f.o.b., Caribbean ports.

Unpacked sugar, c.i.f. European ports.

U.S. future import price contract No. 14. Prior to June 1985, New York contract No. 12 spot price, c.i.f. Atlantic and Gulf of Mexico ports.

Central American and Ecuador, f.o.b. U.S. ports. A box is 40 pounds.

Frozen boneless beef, Australian and New Zealand origin, f.o.b. U.S. ports.

Frozen New Zealand lamb, grade PL, Smithfield market, London.

Appendix Table 8.Beverages: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex

of

Prices of

Beverages 1
CoffeeTea 4

(Kilogram)
Cocoa

Beans 5

(Ton)
Mild

arabica 2

(Pound)
Robusta 3

(Pound)
(1980 = 100)(In SDRs)
1979115.21.341.281.672,549
1980100.01.181.131.712,000
198187.41.090.871.711,763
198293.81.271.011.751,574
1983105.01.231.162.171,985
1984127.01.411.353.372,335
1985113.21.431.191.972,220
1986113.31.651.271.641,765
198773.80.870.791.321,546
198870.81.010.711.331,177
198961.80.830.591.57968
1987I78.00.910.851.491,573
II71.90.840.791.101,580
III71.20.810.751.231,603
IV74.10.910.781.451,428
1988I73.70.970.751.461,330
II70.61.010.701.271,211
III68.51.040.661.181,104
IV70.31.010.721.411,061
1989I73.41.080.741.401,098
II70.11.060.711.36985
III54.00.640.491.571,000
IV49.10.550.411.95791
1990I49.90.640.401.66797
(1980 = 100)(In U.S. dollars)
1979114.41.741.662.163,293
1980100.01.541.472.232,603
198179.31.281.032.022,077
198279.61.401.111.931,742
198386.11.321.242.322,119
1984100.01.441.383.462,396
198588.31.461.211.982,255
1986101.81.931.481.932,068
198773.31.121.021.711,998
198873.21.350.951.791,584
198960.81.070.762.011,242
1987I75.61.151.071.881,984
II71.51.091.021.432,046
III69.81.030.961.572,046
IV76.41.231.051.951,916
1988I77.41.331.021.991,819
II74.21.370.951.741,657
III68.31.340.861.531,432
IV72.71.360.971.901,427
1989I74.21.420.991.841,444
II68.31.350.901.731,249
III52.30.800.621.981,261
IV48.50.700.532.501,015
1990I50.40.850.532.191,049
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: coffee, 63 percent; tea, 11 percent; and cocoa beans, 26 percent.

Central American and Mexican origin, average of prices ex-dock New York and ex-dock Bremen/Hamburg.

African origin, average of prices of ex-dock New York and ex-dock Le Havre/Marseille.

Any origin, average London auction prices.

International Cocoa Organization daily prices, averages of three nearest trading months on New York Cocoa Exchange and London Cocoa Terminal Market, c.i.f. U.S. and European ports.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: coffee, 63 percent; tea, 11 percent; and cocoa beans, 26 percent.

Central American and Mexican origin, average of prices ex-dock New York and ex-dock Bremen/Hamburg.

African origin, average of prices of ex-dock New York and ex-dock Le Havre/Marseille.

Any origin, average London auction prices.

International Cocoa Organization daily prices, averages of three nearest trading months on New York Cocoa Exchange and London Cocoa Terminal Market, c.i.f. U.S. and European ports.

Appendix Table 9.Agricultural Raw Materials: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex of

Prices of

Agricultural

Raw Materials 1
Logs 2

(Cubic meter)
Tobacco 3

(Pound)
Natural

Rubber 4

(Pound)
Medium-

Staple Cotton 5

(Pound)
Fine

Wool 6

(Kilogram)
Jute 7

(Ton)
Sisal 8

(Ton)
Hides 9

(Pound)
(1980 = 100)(In SDRs)
197992.61321.040.440.604.062985510.57
1980100.01501.100.500.724.592415880.35
198196.41321.360.430.715.202365470.35
198298.61411.660.350.665.192565390.35
1983103.91361.740.450.795.052805340.42
1984115.91631.810.420.795.455215700.57
198599.61341.820.340.594.885835170.50
198687.61291.400.310.413.972334390.55
1987105.91711.220.350.585.502483960.62
1988111.61741.210.400.478.682753920.65
1989114.61751.360.340.597.222915100.70
1987I91.91411.230.320.514.252254050.52
II96.71411.200.330.575.452373940.64
III112.61791.220.370.666.192664000.67
IV122.42201.210.360.566.132633860.64
1988I110.91791.180.370.507.662714160.65
II114.51771.140.440.499.412713810.70
III111.11641.230.440.469.292854190.68
IV109.91741.300.360.448.342754230.58
1989I112.91731.320.380.497.952814460.67
II115.41771.370.370.607.102925010.68
III117.91821.390.330.656.882945480.73
IV112.31691.360.300.636.962995450.73
1990I106.21561.320.290.586.733075360.71
(1980 = 100)(In U.S. dollars)
197987.51701.350.570.775.253857130.73
1980100.01961.430.650.945.973147650.46
198187.51561.610.510.846.132786450.42
198283.71561.830.390.735.732835950.39
198385.21451.860.480.845.402985710.45
198491.41671.860.430.815.595315840.59
198577.71361.840.340.604.955835250.51
198678.91511.640.370.484.652725150.64
1987105.42221.570.450.757.133215120.80
1988115.32341.630.540.6411.653705260.88
1989112.92251.740.440.769.273736530.90
1987I89.01781.560.410.655.362835100.65
II96.11831.550.430.747.053075100.83
III110.52291.560.470.857.903395100.85
IV126.22961.620.480.768.223535180.86
1988I116.62451.610.500.6910.483705690.89
II120.42421.550.600.6712.883705220.96
III110.72131.590.570.6012.043705430.88
IV113.52341.740.480.5911.203705690.78
1989I114.22281.740.500.6410.463705870.89
II112.42241.740.460.779.003706360.86
III114.22301.750.410.838.673706900.93
IV110.72171.750.380.818.933837000.93
1990I107.32051.740.380.778.864037050.94
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: logs, 45 percent; cotton, 17 percent; wool, 10 percent; natural rubber, 11 percent; tobacco, 11 percent; hides, 5 percent; jute and sisal, less than 1 percent.

Malaysian meranti logs, average wholesale price, Japan.

United States, average, estimated prices received by producers.

Malaysian RSSI, f.o.b. Malaysia/Singapore ports.

Liverpool Index A, c.i.f. Liverpool.

U.K. Dominion, 64’s clean, dry combed basis.

Bangladesh BWD, f.o.b. Chittagong/Chalna.

East African origin, upgraded, c.i.f. European ports.

U.S. wholesale price, f.o.b. shipping point Chicago.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: logs, 45 percent; cotton, 17 percent; wool, 10 percent; natural rubber, 11 percent; tobacco, 11 percent; hides, 5 percent; jute and sisal, less than 1 percent.

Malaysian meranti logs, average wholesale price, Japan.

United States, average, estimated prices received by producers.

Malaysian RSSI, f.o.b. Malaysia/Singapore ports.

Liverpool Index A, c.i.f. Liverpool.

U.K. Dominion, 64’s clean, dry combed basis.

Bangladesh BWD, f.o.b. Chittagong/Chalna.

East African origin, upgraded, c.i.f. European ports.

U.S. wholesale price, f.o.b. shipping point Chicago.

Appendix Table 10.Minerals and Metals: Prices in SDRs and U.S. Dollars, 1979–First Quarter 1990
YearsIndex of

Minerals

and Metals Prices 1
Copper 2Tin 2Aluminum 2Nickel 2Zinc 2Lead 2Iron

Ore 3
Steel 4Phosphate

Rock 5
(1980 = 100)(In SDR 0.01 a pound)(In SDRs a ton)
197992.069.35421,2414,62457393118.128525.5
1980100.076.25851,3635,00858569620.929535.9
198193.667.05461,0685,04572061720.930442.0
198288.160.85278974,36967449423.732038.3
198395.667.55521,3484,37471639822.429434.5
198494.460.95411,2184,63889843122.630737.3
198589.963.45161,0284,84777638522.427333.5
198673.153.02529803,32064134518.726429.2
198778.762.12441,2093,74961746017.228924.0
1988112.587.72471,89610,24692548817.238126.8
1989120.6100.73091,52010,3591,29152520.641231.9
1987I69.550.22501,0112,91259037317.225124.6
II73.253.42451,1033,28963848316.527024.0
III82.262.32431,3604,01962351417.431324.3
IV90.082.82381,3574,79161747217.732023.1
1988I99.181.22321,6247,85266648017.233626.3
II116.980.42372,21412,32888048616.638326.3
III112.379.82631,97110,44899647017.240527.8
IV121.7109.52541,77210,3571,15751417.840026.8
1989I132.4112.12831,68413,5461,42547720.141831.6
II123.8100.03711,65510,7201,26650420.943432.2
III117.197.83231,3959,6281,31456120.440732.1
IV109.192.72581,3487,5421,16155921.138731.6
1990I100.984.52221,1525,9041,10364522.637030.8
(1980 = 100)(In U.S. cents a pound)(In U.S. dollars a ton)
197991.389.57011,6035,9757411,20323.436833.0
1980100.099.17611,7756,51976190527.238446.7
198184.879.06431,2635,95384672624.635849.5
198274.867.25829924,83874554626.235442.4
198378.572.25891,4394,67376542524.031536.9
198474.462.55551,2524,75292244223.131438.3
198570.064.35231,0414,89978339122.727733.9
198665.962.12941,1503,88975440621.931034.3
198778.480.83161,5654,87279859622.237431.0
1988116.2117.93312,54713,7781,24065623.151236.0
1989118.9129.13951,95113,3131,65667326.452840.8
1987I67.363.33161,2743,67174447021.631731.0
II72.869.23171,4284,25682562521.435031.0
III80.679.53101,7375,13179665622.240031.0
IV92.9111.23201,8226,43082763323.743031.0
1988I104.2111.13182,22210,74591165623.546036.0
II122.8109.93243,02516,8751,20366422.852336.0
III112.0103.53412,55713,5531,29161022.352536.0
IV125.7147.23412,38213,9401,55669223.953836.0
1989I133.8147.43722,21717,8211,87462826.455041.5
II120.8127.04702,10013,6201,60663926.555040.8
III113.4123.24061,75712,1361,65570625.751340.5
IV107.5119.03311,7309,6761,48971827.149740.5
1990I102.0111.12921,5167,7671,45184829.748740.5
Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: copper, 26 percent; aluminum, 20 percent; iron ore, 19 percent; tin, 10 percent; nickel, 8 percent; zinc, 6 percent; lead, 5 percent; phosphate rock, 6 percent.

London Metal Exchange (LME) price, c.i.f. European ports.

Brazilian ore, c.i.f. German ports.

Cold rolled coil, price for export, f.o.b. European Coal and Steel Community mills.

Moroccan rock, f.a.s. Casablanca.

Source: Commodities Division, IMF Research Department.

The weights in the index are as follows: copper, 26 percent; aluminum, 20 percent; iron ore, 19 percent; tin, 10 percent; nickel, 8 percent; zinc, 6 percent; lead, 5 percent; phosphate rock, 6 percent.

London Metal Exchange (LME) price, c.i.f. European ports.

Brazilian ore, c.i.f. German ports.

Cold rolled coil, price for export, f.o.b. European Coal and Steel Community mills.

Moroccan rock, f.a.s. Casablanca.

The following symbols have been used throughout this paper:

… to indicate that data are not available;

— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

– between years or months (e.g., 1987–88 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

/ between years (e.g., 1987/88) to indicate a crop or fiscal (financial) year.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to rounding.

World Economic and Financial Surveys

January 1988International Capital Markets: Developments and Prospects, by Maxwell Watson, Donald Mathieson, Russell Kincaid, David Folkerts-Landau, Klaus Regling, and Caroline Atkinson.
February 1988Officially Supported Export Credits: Developments and Prospects, by K. Burke Dillon and Luis Duran-Downing, with Miranda Xafa.
April 1988World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
May 1988Multilateral Official Debt Rescheduling: Recent Experience, by Peter M. Keller, with Nissanke E. Weerasinghe.
May 1988Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
July 1988Staff Studies for the World Economic Outlook, by the Research Department of the International Monetary Fund.
October 1988World Economic Outlook: Revised Projections, by the Staff of the International Monetary Fund.
April 1989World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
April 1989International Capital Markets: Developments and Prospects, by a Staff Team from the Exchange and Trade Relations and Research Departments.
July 1989Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.
August 1989Staff Studies for the World Economic Outlook, by the Research Department of the International Monetary Fund.
September 1989Developments in International Exchange and Trade Systems, by a Staff Team from the Exchange and Trade Relations Department.
October 1989World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
April 1990International Capital Markets: Developments and Prospects, by a Staff Team from the Exchange and Trade Relations and Research Departments.
May 1990Officially Supported Export Credits: Developments and Prospects, by G.G. Johnson, Matthew Fisher, and Elliott Harris.
May 1990World Economic Outlook: A Survey by the Staff of the International Monetary Fund.
July 1990Primary Commodities: Market Developments and Outlook, by the Commodities Division of the Research Department.

Note: For information on the titles and availability of World Economic and Financial Surveys published prior to 1988, please consult the most recent IMF Publications Catalog or contact IMF Publication Services.

In order to avoid giving undue weight to movements in prices arising from changes in exchange rates of individual currencies, price movements are discussed mostly in terms of SDRs. Because U.S. dollar prices are widely used in trade and in press discussions of commodity developments, however, dollar prices are referred to periodically in the text and are shown in the Appendix Tables.

Although coverage of individual commodities in Sections II through V is less comprehensive than in previous reports, prices for beef, lamb, bananas, wool, jute, sisal, hides, and phosphate rock are given in the Appendix Tables.

Averages of percentage changes in individual countries weighted by the average U.S. dollar value of their respective GNPs.

The dollar index in 1989 on average was 1/2 percent lower than the 1988 level, and the decline from the first to the second half of 1989 was 8 percent.

Comprising Argentina, Australia, Brazil, Canada, Chile, Colombia, Hungary, Indonesia, Malaysia, New Zealand, the Philippines, Thailand, and Uruguay.

James M. Boughton and William H. Branson, “Commodity Prices as a Leading Indicator of Inflation,” National Bureau of Economic Research Working Paper No. 2750 (October 1988). The analysis has recently been extended in order to evaluate the relationship between general movements in world prices of primary commodities and the rate of inflation in each of the major industrial countries. See James M. Boughton, William H. Branson, and Alphecca Muttardy, “Commodity Prices and Inflation: Evidence from Seven Large Industrial Countries,” IMF Working Paper No. WP/89/72, September 14, 1989.

Owing to the many species of hardwood logs traded, no one series is fully representative of trade in hardwood. The price used in this section is the price of a major species of hardwood, Malaysian meranti, in the largest importing country, Japan.

Malaysian meranti, c.i.f. French ports.

    Other Resources Citing This Publication