Others titles
- Trade Weighted Exchange Rate of Commodities
- Real Trade Weighted Exchange Rate of Commodities
- Commodity Trade-weighted Indices
Keywords
- Goods Export
- Real Effective Exchange Rate
- Currency Index
- Trade Weighted Dollar Index
- Commodity Exchange Rate
- U.S. Agriculture Exports and Import
- Real Exchange Rates
- Real Trade Exchange Rates
- Foreign Currency Exchange Rate
- Nominal Currency Exchange Rate
Real Commodity Trade Weighted Exchange Rates
This dataset contains real trade-weighted exchange rate indices for many commodities and aggregations important to U.S. agriculture. The data covers information from 1970 to 2024.
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Description
The nominal or current exchange value of foreign currencies in U.S. dollars is the appropriate exchange rate for the purposes of travel or making current purchases of goods and services in foreign currencies. For countries with similar inflation rates, such as the United States and European countries, the nominal exchange rate will provide an approximate indication of the long-term pattern. However, nominal exchange rates provide a misleading indication of exchange rate movements over time when inflation rates differ. In such cases, the real exchange rate, which corrects for price movements, is more appropriate.
To derive real exchange rates from nominal rates, both the local currencies and the dollar must be adjusted for price changes using a relevant price index. Technically, since the country exchange rates reflect a broad range of goods and services in a country, the gross domestic product (GDP) deflator, as the broadest measure of price changes in an economy, is an appropriate price index to use. Another appropriate price index is the Producer Price Index (PPI), since traded goods prices are not final goods prices. Unfortunately, neither GDP deflators nor PPIs are available on a monthly basis for the full set of countries included in the data set. Therefore, for practical reasons, the more widely available CPI (Consumer Price Index) indices are used to derive the real exchange rates.
Real, trade-weighted exchange rate indices are calculated for major U.S. agricultural exports and imports and for product aggregates. The commodities and product aggregates are covered in this dataset. Product aggregates for competitive exchange rate indices are calculated from the total global exports of the individual commodities listed within each category. For example, the weights for global bulk exports are calculated from the sum of each country’s exports of corn, cotton, rice, soybeans, tobacco, and wheat only. Commodities were chosen to represent the most important U.S. agricultural exports and imports. Commodity coverage for competitor exchange rate indices is intended to duplicate the set of market exchange rate indices as nearly possible. This facilitates comparison of exchange rate changes in U.S. export markets with competitor exchange rates in order to evaluate changes in the U.S.’s competitive position in export markets.
About this Dataset
Data Info
Date Created | 2018-08-29 |
---|---|
Last Modified | 2024-05-30 |
Version | 2024-05-30 |
Update Frequency |
Quarterly |
Temporal Coverage |
1970-2024 |
Spatial Coverage |
United States |
Source | John Snow Labs; United States Department of Agriculture, Economic Research Service; |
Source License URL | |
Source License Requirements |
N/A |
Source Citation |
N/A |
Keywords | Goods Export, Real Effective Exchange Rate, Currency Index, Trade Weighted Dollar Index, Commodity Exchange Rate, U.S. Agriculture Exports and Import, Real Exchange Rates, Real Trade Exchange Rates, Foreign Currency Exchange Rate, Nominal Currency Exchange Rate |
Other Titles | Trade Weighted Exchange Rate of Commodities, Real Trade Weighted Exchange Rate of Commodities, Commodity Trade-weighted Indices |
Data Fields
Name | Description | Type | Constraints |
---|---|---|---|
Month | Export month | string | required : 1 |
Year | Export Year | date | required : 1 |
Merchandize_Exports | Total U.S. merchandise exports | number | level : Ratiorequired : 1 |
Agricultural_Exports | Total agricultural & related exports | number | level : Ratiorequired : 1 |
Bulk | U.S. export weight of bulk goods. Includes only the products that follow in this category plus other coarse grains | number | level : Ratiorequired : 1 |
Corn | U.S. export weight of corn | number | level : Ratiorequired : 1 |
Cotton | U.S. export weight of cotton | number | level : Ratiorequired : 1 |
Rice | U.S. export weight of rice | number | level : Ratiorequired : 1 |
Soybeans | U.S. export weight of soybean | number | level : Ratiorequired : 1 |
Tobacco | U.S. export weight of tobacco | number | level : Ratiorequired : 1 |
Wheat | U.S. export weight of wheat | number | level : Ratiorequired : 1 |
Intermediates | U.S. export weight of intermediate products | number | level : Ratiorequired : 1 |
Soymeal | U.S. export weight of soybean meal | number | level : Ratiorequired : 1 |
Soybean_and_Vegetable_Oil | U.S. export weight of soybean and vegetable oil | number | level : Ratiorequired : 1 |
Feeds_and_Fodders | U.S. export weight of feeds and fodders. Data includes hay, distillers grains and feeds & fodders | number | level : Ratiorequired : 1 |
Distillers_Grain | U.S. export weight of distillers grain | number | level : Ratiorequired : 1 |
Hides_and_Skins | U.S. export weight of hides and skins | number | level : Ratiorequired : 1 |
Consumer_Oriented | U.S. export weight of consumer-oriented products | number | level : Ratiorequired : 1 |
Tree_Nuts | U.S. export weight of tree nuts | number | level : Ratiorequired : 1 |
Dairy_Products | U.S. export weight of dairy products | number | level : Ratiorequired : 1 |
Prepared_Food | U.S. export weight of prepared food | number | level : Ratiorequired : 1 |
Fresh_and_Processed_Fruit | U.S. export weight of fresh and processed fruit | number | level : Ratiorequired : 1 |
Fresh_and_Processed_Vegetables | U.S. export weight of fresh and processed vegetables | number | level : Ratiorequired : 1 |
Juices_and_Beverages | U.S. export weight of juices and beverages | number | level : Ratiorequired : 1 |
Beef_and_Beef_Products | U.S. export weight of beef and beef products | number | level : Ratiorequired : 1 |
Pork_and_Pork_Products | U.S. export weight of pork and pork products | number | level : Ratiorequired : 1 |
Poultry_Meat_and_Products | U.S. export weight of poultry meat and products | number | level : Ratiorequired : 1 |
Wine_and_Beer | U.S. export weight of wine and bear | number | level : Ratiorequired : 1 |
Agricultural_Related | U.S. export weight of agricultural related products | number | level : Ratiorequired : 1 |
Data Preview
Month | Year | Merchandize Exports | Agricultural Exports | Bulk | Corn | Cotton | Rice | Soybeans | Tobacco | Wheat | Intermediates | Soymeal | Soybean and Vegetable Oil | Feeds and Fodders | Distillers Grain | Hides and Skins | Consumer Oriented | Tree Nuts | Dairy Products | Prepared Food | Fresh and Processed Fruit | Fresh and Processed Vegetables | Juices and Beverages | Beef and Beef Products | Pork and Pork Products | Poultry Meat and Products | Wine and Beer | Agricultural Related |
January | 1970 | 87.6 | 84.8 | 79.3 | 96.7 | 71.5 | 94.4 | 71.8 | 88.3 | 86.6 | 81.8 | 79.0 | 79.5 | 80.9 | 76.3 | 75.0 | 89.9 | 95.6 | 81.0 | 86.4 | 88.7 | 90.3 | 89.1 | 98.3 | 98.0 | 81.1 | 88.7 | 87.5 |
February | 1970 | 87.8 | 85.1 | 79.6 | 96.9 | 71.7 | 94.7 | 71.9 | 88.6 | 87.3 | 82.1 | 80.2 | 79.7 | 81.0 | 76.5 | 74.9 | 90.2 | 95.9 | 81.5 | 86.8 | 89.0 | 90.7 | 89.4 | 98.5 | 98.3 | 81.5 | 88.9 | 87.7 |
March | 1970 | 88.1 | 85.8 | 80.1 | 97.0 | 72.0 | 94.8 | 72.1 | 89.5 | 90.6 | 83.2 | 85.1 | 80.0 | 81.3 | 76.9 | 74.9 | 90.9 | 95.9 | 83.4 | 87.5 | 89.6 | 91.4 | 90.0 | 98.7 | 98.9 | 82.4 | 89.2 | 88.1 |
April | 1970 | 88.3 | 86.0 | 80.4 | 96.6 | 72.9 | 94.6 | 72.6 | 90.3 | 90.8 | 83.5 | 84.9 | 80.1 | 81.9 | 77.3 | 75.0 | 91.1 | 96.0 | 83.9 | 87.7 | 89.8 | 91.6 | 90.2 | 98.9 | 98.9 | 82.8 | 89.4 | 88.3 |
May | 1970 | 88.4 | 86.2 | 80.6 | 97.1 | 72.2 | 94.5 | 72.7 | 90.5 | 91.0 | 83.7 | 85.0 | 80.3 | 82.2 | 77.2 | 75.2 | 91.4 | 95.8 | 84.3 | 87.9 | 90.2 | 91.9 | 90.5 | 99.4 | 99.3 | 82.8 | 89.4 | 88.4 |
June | 1970 | 88.1 | 86.0 | 80.7 | 97.5 | 72.3 | 94.4 | 72.8 | 90.6 | 91.1 | 83.5 | 84.7 | 80.0 | 82.3 | 77.3 | 75.5 | 90.9 | 95.9 | 84.2 | 87.1 | 89.6 | 90.9 | 89.3 | 99.7 | 99.3 | 82.4 | 88.8 | 88.0 |
July | 1970 | 88.1 | 86.0 | 80.9 | 97.9 | 72.5 | 94.6 | 72.9 | 90.9 | 91.3 | 83.6 | 84.7 | 80.1 | 82.5 | 77.4 | 75.5 | 90.8 | 95.8 | 84.2 | 86.8 | 89.4 | 90.5 | 88.9 | 99.8 | 99.5 | 82.6 | 88.8 | 87.8 |
August | 1970 | 87.9 | 86.0 | 81.2 | 97.7 | 77.0 | 95.8 | 72.9 | 91.8 | 91.0 | 83.5 | 84.7 | 79.9 | 82.9 | 78.3 | 75.3 | 90.6 | 96.9 | 83.9 | 86.4 | 88.9 | 90.0 | 88.3 | 99.5 | 99.2 | 82.5 | 88.3 | 87.6 |
September | 1970 | 88.0 | 86.1 | 81.4 | 97.3 | 79.0 | 96.5 | 73.1 | 92.4 | 90.6 | 83.6 | 84.9 | 80.1 | 83.0 | 78.7 | 75.1 | 90.6 | 97.4 | 83.9 | 86.5 | 88.9 | 90.1 | 88.4 | 99.0 | 98.9 | 82.8 | 88.4 | 87.6 |
October | 1970 | 88.2 | 86.3 | 81.5 | 97.3 | 79.2 | 96.7 | 73.1 | 92.7 | 90.9 | 83.9 | 85.5 | 80.4 | 83.0 | 78.8 | 75.2 | 90.9 | 97.4 | 84.1 | 87.0 | 89.3 | 90.5 | 88.9 | 99.0 | 98.9 | 83.3 | 88.7 | 87.8 |