Commodity Terms of Trade

Country-specific commodity price indices, including export, import, and terms-of-trade indices. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. See "Commodity Terms of Trade: A New Database" by Bertrand Gruss and Suhaib Kebhaj, for further details. The country-specific indices are constructed using, alternatively, time-varying weights (using average trade flows over the preceding three years) and fixed weights (based on average trade flows over several decades).