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Price and quantity indexes of the Colombian foreign trade

Author

Listed:
  • Aarón Garavito

    (Banco de la República)

  • David López

    (Banco de la República)

  • Enrique Montes

    (Banco de la República)

Abstract

Price and quantity indexes of exports and imports are very important tools for the analysis of a country’s trade performance and its impact on the national economy. These indicators are mainly used as input for the study of the terms of trade, external competitiveness, and the effects of changes in international prices on domestic inflation. Given their importance, this paper uses customs statistics to provide a monthly estimation of the chained indexes of prices and quantities of the Colombian foreign trade. The proposed methodology follows the recommendations of international organizations (IMF, CAN, EUROSTAT) to address the problems of aggregation and volatility in the databases. Some of the results obtained are the decomposition of the value of imports and exports into price and quantity effects and the bilateral terms of trade.

Suggested Citation

  • Aarón Garavito & David López & Enrique Montes, 2014. "Price and quantity indexes of the Colombian foreign trade," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 80, pages 9-47, Enero-Jun.
    • Handle: RePEc:lde:journl:y:2014:i:80:p:9-47
    DOI: 10.17533/udea.le.n80a1
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    References listed on IDEAS

    as
    1. Guillaume Gaulier & Julien Martin & Isabelle Méjean & Soledad Zignago, 2008. "International Trade Price Indices," Working Papers 2008-10, CEPII research center.
    2. Aarón L.Garavito Acosta & Carlos A. Huertas Campos & David C.López Valenzuela & Julián A. Parra Polanía & Mario A. Ramos Veloza, 2011. "Construcción del índice de términos de intercambio para Colombia," Borradores de Economia 639, Banco de la Republica de Colombia.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Jorge García-García & Enrique Montes-Uribe & Juan Sebastián Silva-Rodríguez & Héctor M. Zárate-Solano, 2022. "El mercado importador en Colombia y las firmas que importan," Borradores de Economia 1208, Banco de la Republica de Colombia.

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    More about this item

    Keywords

    Terms of trade; Price Indexes; Chained Indexes;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • F10 - International Economics - - Trade - - - General

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