Japan Commodity Terms of Trade (IMF)
Monthly country-specific commodity price indices for Japan computed by the IMF Research Department: the commodity terms-of-trade (net export price) index, which proxies the income gains and losses from changes in world prices of up to 45 commodities (energy, metals, food and agricultural raw materials), and the commodity export and import price indices, each weighted by Japan's own commodity trade relative to total commodity trade or to GDP, with rolling (three-year) or fixed weights.
| Indicator | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | 07-2023 | 06-2023 | 05-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rolling weights (average trade of the three preceding years)6 | ||||||||||||||||||||||||||||||||||||||
| Commodity terms of trade: net export price index, weighted by net exports to total commodity trade | 97.96 | 97.74 | 93.81 | 120.69 | 121.39 | 125.34 | 122.59 | 124.21 | 121.79 | 122.12 | 118.76 | 117.41 | 122.96 | 121.43 | 114.17 | 109.6 | 107.81 | 111.45 | 111.83 | 112.76 | 115.61 | 112.15 | 112.08 | 109.66 | 110.11 | 111.64 | 115.51 | 117.86 | 113.35 | 110.75 | 105.38 | 102.02 | 103.01 | 108.45 | 112.29 | 115.45 | 114.36 | |
| Commodity terms of trade: net export price index, weighted by net exports to GDP | 100.16 | 100.14 | 99.85 | 101.64 | 101.68 | 101.91 | 101.75 | 101.84 | 101.7 | 101.72 | 101.52 | 101.44 | 101.77 | 101.68 | 101.24 | 100.95 | 100.83 | 101.07 | 101.09 | 101.15 | 101.33 | 101.11 | 101.11 | 100.95 | 100.98 | 101.08 | 101.32 | 101.47 | 101.19 | 101.02 | 100.67 | 100.44 | 100.51 | 100.88 | 101.12 | 101.32 | 101.25 | |
| Commodity export price index, weighted by share in commodity exports | 129.82 | 130.19 | 130.55 | 111.2 | 107.6 | 102.62 | 100.87 | 100.68 | 100.01 | 97.76 | 99.49 | 98.99 | 95.65 | 96 | 100.11 | 100.96 | 101.29 | 97.52 | 97.69 | 100.95 | 97.83 | 99.03 | 101.57 | 103.34 | 106.57 | 107.4 | 102.28 | 98.91 | 98.33 | 96.46 | 97.24 | 98.21 | 100.35 | 96.29 | 95.62 | 92.88 | 93.23 | |
| Commodity export price index, weighted by exports to GDP | 100.22 | 100.22 | 100.22 | 100.09 | 100.07 | 100.03 | 100.01 | 100.01 | 100.01 | 99.99 | 100 | 100 | 99.97 | 99.98 | 100.01 | 100.02 | 100.02 | 99.99 | 99.99 | 100.02 | 99.99 | 100 | 100.02 | 100.03 | 100.06 | 100.07 | 100.03 | 100 | 99.99 | 99.98 | 99.99 | 99.99 | 100.01 | 99.98 | 99.97 | 99.95 | 99.95 | |
| Commodity import price index, weighted by share in commodity imports | 106.68 | 106.96 | 112.03 | 83.11 | 82.34 | 78.93 | 80.68 | 79.44 | 81.04 | 80.54 | 83.28 | 84.33 | 79.81 | 80.9 | 87.18 | 91.36 | 93.05 | 89.29 | 88.96 | 88.43 | 85.65 | 88.64 | 88.85 | 91.39 | 91.38 | 89.87 | 85.94 | 83.67 | 87.5 | 89.65 | 94.8 | 98.34 | 97.47 | 91.6 | 88.11 | 85.18 | 86.19 | |
| Commodity import price index, weighted by imports to GDP | 99.98 | 100 | 100.29 | 98.42 | 98.36 | 98.1 | 98.24 | 98.15 | 98.28 | 98.24 | 98.44 | 98.52 | 98.18 | 98.27 | 98.72 | 99.01 | 99.12 | 98.87 | 98.84 | 98.81 | 98.62 | 98.83 | 98.86 | 99.02 | 99.02 | 98.93 | 98.65 | 98.49 | 98.75 | 98.9 | 99.25 | 99.48 | 99.43 | 99.04 | 98.8 | 98.59 | 98.65 | |
| Fixed weights (average trade over several decades)6 | ||||||||||||||||||||||||||||||||||||||
| Commodity terms of trade: net export price index, weighted by net exports to total commodity trade | 91.42 | 91.07 | 88.7 | 110.64 | 112.92 | 115.95 | 114.51 | 115.43 | 113.25 | 113.8 | 110.95 | 110.48 | 114.94 | 113.58 | 108.05 | 104.45 | 102.28 | 105.94 | 106.04 | 106 | 108.29 | 105.44 | 104.21 | 102.22 | 101.06 | 100.99 | 104.35 | 106.58 | 104.55 | 104.22 | 100.97 | 97.33 | 96.81 | 101.41 | 103.69 | 106.78 | 105.01 | |
| Commodity terms of trade: net export price index, weighted by net exports to GDP | 99.62 | 99.6 | 99.47 | 100.6 | 100.7 | 100.83 | 100.76 | 100.79 | 100.69 | 100.71 | 100.59 | 100.57 | 100.77 | 100.71 | 100.46 | 100.29 | 100.18 | 100.36 | 100.36 | 100.35 | 100.46 | 100.32 | 100.25 | 100.17 | 100.13 | 100.12 | 100.28 | 100.38 | 100.29 | 100.26 | 100.09 | 99.91 | 99.88 | 100.12 | 100.25 | 100.4 | 100.32 | |
| Commodity export price index, weighted by share in commodity exports | 132.73 | 132.89 | 131.81 | 118.79 | 116.28 | 110.77 | 107.44 | 106.76 | 105.13 | 102.04 | 104.08 | 104.08 | 101.45 | 101.26 | 106.53 | 106.82 | 107.66 | 104.5 | 104.24 | 107.3 | 104.73 | 104.91 | 106.21 | 110.16 | 115.27 | 114.48 | 109.18 | 105.53 | 105.34 | 102.57 | 101.59 | 101.82 | 103.54 | 100.91 | 101.81 | 99.96 | 101.7 | |
| Commodity export price index, weighted by exports to GDP | 100.1 | 100.1 | 100.1 | 100.06 | 100.05 | 100.03 | 100.02 | 100.02 | 100.02 | 100.01 | 100.01 | 100.01 | 100 | 100 | 100.02 | 100.02 | 100.02 | 100.01 | 100.01 | 100.02 | 100.01 | 100.01 | 100.02 | 100.03 | 100.04 | 100.04 | 100.03 | 100.01 | 100.01 | 100 | 100 | 100 | 100.01 | 100 | 100 | 99.99 | 100 | |
| Commodity import price index, weighted by share in commodity imports | 112.71 | 113.18 | 116.42 | 90.81 | 88.69 | 85.84 | 86.82 | 86.03 | 87.72 | 87.07 | 89.63 | 90.03 | 86.07 | 87.17 | 92.38 | 95.86 | 98.09 | 94.21 | 94.11 | 94.36 | 92 | 94.73 | 96.04 | 98.31 | 99.85 | 99.87 | 96.01 | 93.6 | 95.58 | 95.74 | 99.06 | 103.08 | 103.81 | 98.49 | 96.18 | 93.02 | 94.81 | |
| Commodity import price index, weighted by imports to GDP | 100.49 | 100.51 | 100.64 | 99.47 | 99.36 | 99.21 | 99.27 | 99.23 | 99.33 | 99.3 | 99.43 | 99.45 | 99.24 | 99.3 | 99.56 | 99.74 | 99.84 | 99.66 | 99.65 | 99.67 | 99.55 | 99.7 | 99.77 | 99.86 | 99.91 | 99.92 | 99.75 | 99.63 | 99.73 | 99.74 | 99.91 | 100.1 | 100.13 | 99.88 | 99.76 | 99.6 | 99.68 |
Latest reading
The latest reading is 97.96, for May 2026. That is +0.2% from Apr 2026 and −20.3% from a year earlier. The series on this page is monthly and runs from Jan 1980 to May 2026. Source: IMF – Commodity Terms of Trade database (CTOT), Research Department.
- Latest
- 97.96
- May 2026
- vs previous period
- +0.2%
- Apr 2026
- vs a year earlier
- −20.3%
About this data
Monthly country-specific commodity price indices for Japan computed by the IMF Research Department: the commodity terms-of-trade (net export price) index, which proxies the income gains and losses from changes in world prices of up to 45 commodities (energy, metals, food and agricultural raw materials), and the commodity export and import price indices, each weighted by Japan's own commodity trade relative to total commodity trade or to GDP, with rolling (three-year) or fixed weights. Index, June 2012 = 100.