What would a country's commodity exports have fetched at each month's prices?
Priced at September 2026 benchmark prices, the 2024 export baskets of the 46 countries in this table would have fetched between 118 and 361 against 100 at 2015 prices; the median is 220. Among countries that are not trading hubs the highest is Japan (339; its basket is 84% gold, priced with the London PM fix benchmark) and the lowest Sweden (118; 67% of its tracked exports are priced, and its largest weight is 52% sawnwood, priced with the Cameroon, sapele, FOB Douala benchmark). The largest twelve-month rises were Azerbaijan (+69.5%; 98% crude oil) and Venezuela (+66.1%; 95% crude oil), the smallest Sweden (+1.6%) and Vietnam (+2.5%). Adjusted for US consumer prices, as of August 2026, the latest month of the US consumer price index, 41 of the 46 baskets are above their 2015 level.
Each basket holds fixed the quantities that a country's 2024 exports would have been at that year's average benchmark price, and values them at each month's benchmark prices, so each index shows what the same basket would have fetched. It is not a revenue series, because volumes and the mix of what a country sells have changed, and it is not a terms-of-trade index, because import prices are left out. Applying the 2024 mix to the whole period back to 2000 is itself a choice: a country that sold a different mix earlier would have a different history. Since 2000, 11 of the 46 baskets peaked in 2022 on an annual average and 17 in 2025, the last full year.
The six largest priced baskets, monthly
All 46 countries
| Country | Index, latest | 12 months | Real index | Peak year | Largest weights | Tracked exports priced | Since 2000 |
|---|---|---|---|---|---|---|---|
| United States | 201 | +44.8% | 124 | 2022 | crude oil 50%, soybeans 10%, gold 9% | 68% | |
| Canada | 231 | +40.1% | 147 | 2022 | crude oil 50%, gold 24%, aluminum 4% | 89% | |
| Australia | 215 | +14.3% | 149 | 2022 | iron ore 41%, coal 29%, gold 14% | 76% | |
| Russia | 215 | +51.4% | 129 | 2022 | crude oil 64%, coal 11%, gold 6% | 78% | |
| Brazil | 161 | +23.3% | 104 | 2011 | crude oil 24%, soybeans 22%, iron ore 16% | 94% | |
| United Arab Emirates | 260 | +44.4% | 162 | 2012 | crude oil 62%, gold 31%, aluminum 4% | 92% | |
| Indonesia | 209 | +24.5% | 142 | 2022 | coal 44%, palm oil 27%, copper 11% | 86% | |
| Malaysia | 204 | +45.9% | 122 | 2011 | crude oil 63%, palm oil 20%, aluminum 6% | 80% | |
| Norway | 214 | +63.1% | 122 | 2011 | crude oil 86%, aluminum 7%, nickel 4% | 48% | |
| Kazakhstan | 243 | +51.8% | 148 | 2011 | crude oil 67%, gold 16%, copper 6% | 96% | |
| South Africa | 271 | +17.9% | 193 | 2025 | gold 54%, coal 13%, iron ore 12% | 72% | |
| Nigeria | 219 | +63.4% | 122 | 2012 | crude oil 92%, cocoa 5%, urea 2% | 79% | |
| Mexico | 256 | +49.2% | 160 | 2011 | crude oil 60%, gold 19%, copper 8% | 79% | |
| Peru | 278 | +30.0% | 197 | 2025 | copper 49%, gold 31%, iron ore 4% | 85% | |
| United Kingdom | 265 | +37.2% | 174 | 2025 | crude oil 42%, gold 37%, silver 8% | 77% | |
| Netherlands | 190 | +45.9% | 114 | 2011 | crude oil 62%, aluminum 9%, chicken 7% | 61% | |
| Hong Kong | 361 | +18.5% | 261 | 2025 | gold 95%, platinum 2%, silver 2% | 97% | |
| Chile | 242 | +40.9% | 169 | 2025 | copper 87%, iron ore 4%, sawnwood 2% | 79% | |
| Germany | 224 | +17.2% | 160 | 2025 | gold 47%, sawnwood 8%, silver 6% | 61% | |
| Oman | 213 | +56.2% | 121 | 2011 | crude oil 85%, urea 8%, iron ore 5% | 78% | |
| China | 228 | +20.0% | 163 | 2025 | gold 42%, silver 16%, plywood 14% | 48% | |
| India | 149 | +15.0% | 105 | 2011 | rice 37%, aluminum 15%, beef 11% | 72% | |
| Thailand | 187 | +21.2% | 130 | 2011 | gold 30%, rice 24%, natural rubber 18% | 91% | |
| Colombia | 214 | +36.7% | 132 | 2022 | crude oil 48%, coal 27%, coffee 14% | 98% | |
| Ecuador | 199 | +47.0% | 118 | 2011 | crude oil 64%, bananas 18%, cocoa 13% | 78% | |
| Japan | 339 | +19.7% | 245 | 2025 | gold 84%, silver 6%, platinum 2% | 70% | |
| Argentina | 168 | +20.7% | 116 | 2022 | corn 37%, gold 17%, beef 11% | 77% | |
| Ukraine | 144 | +22.2% | 97 | 2022 | corn 35%, wheat 28%, iron ore 17% | 65% | |
| Ivory Coast (Côte d'Ivoire) | 247 | +11.1% | 175 | 2025 | gold 40%, cocoa 34%, natural rubber 18% | 94% | |
| Azerbaijan | 220 | +69.5% | 122 | 2012 | crude oil 98%, cotton 1%, urea 1% | 62% | |
| Poland | 134 | +18.5% | 91 | 2022 | chicken 35%, wheat 12%, silver 10% | 71% | |
| Mongolia | 251 | +38.7% | 168 | 2022 | coal 68%, copper 27%, iron ore 4% | 98% | |
| Singapore | 343 | +18.1% | 248 | 2025 | gold 90%, zinc 3%, lead 1% | 97% | |
| Vietnam | 149 | +2.5% | 107 | 2011 | rice 34%, coffee 33%, natural rubber 11% | 67% | |
| Italy | 233 | +20.2% | 166 | 2025 | gold 46%, aluminum 14%, platinum 8% | 43% | |
| Uzbekistan | 336 | +16.8% | 243 | 2025 | gold 91%, potash 5%, urea 2% | 96% | |
| Venezuela | 220 | +66.1% | 123 | 2012 | crude oil 95%, iron ore 3%, urea 2% | 98% | |
| Philippines | 237 | +9.1% | 166 | 2025 | gold 35%, coconut oil 23%, bananas 17% | 92% | |
| New Zealand | 120 | +7.6% | 86 | 2011 | beef 27%, lamb 26%, logs 22% | 47% | |
| Ghana | 327 | +13.8% | 236 | 2025 | gold 77%, cocoa 19%, natural rubber 3% | 87% | |
| Sweden | 118 | +1.6% | 84 | 2008 | sawnwood 52%, iron ore 36%, silver 5% | 67% | |
| Armenia | 355 | +22.2% | 256 | 2025 | gold 82%, silver 8%, copper 8% | 93% | |
| South Korea | 251 | +37.5% | 178 | 2025 | silver 36%, zinc 23%, aluminum 13% | 46% | |
| Tanzania | 313 | +15.9% | 226 | 2025 | gold 78%, coffee 6%, rice 5% | 76% | |
| Bahrain | 188 | +13.4% | 132 | 2008 | aluminum 64%, iron ore 31%, urea 5% | 93% | |
| Paraguay | 137 | +21.6% | 92 | 2022 | soybeans 63%, beef 19%, rice 9% | 96% |
Benchmarks behind the baskets
- Aluminum: LME cash, high grade
- Bananas: Central and South America, US import
- Beef: Australia/New Zealand, CIF US ports
- Chicken: US Gulf ports, broiler cuts
- Coal: Australian thermal, Newcastle
- Cocoa: Cocoa (ICE New York and London average)
- Coconut oil: Philippines/Indonesia, CIF Rotterdam
- Coffee: Arabica (ICE New York, other milds)
- Copper: LME cash, grade A cathode
- Corn: US No. 2 yellow, Gulf export
- Crude oil: Brent (dated, 38° API)
- Gold: London PM fix
- Iron ore: 62% Fe fines, CFR China spot
- Lamb: New Zealand, frozen carcass, wholesale London
- Lead: LME cash
- Logs: Cameroon, sapele, FOB Douala
- Natural rubber: TSR20, SGX/SICOM
- Palm oil: Malaysia, CIF Northwest Europe
- Platinum: London afternoon fix
- Plywood: Africa and Southeast Asia, Tokyo import
- Potash: Potassium chloride, standard grade, FOB Vancouver
- Rice: Thai 5% broken, Bangkok FOB
- Sawnwood: Cameroon, sapele, FOB Douala
- Silver: Handy & Harman, New York
- Soybeans: US, CIF Rotterdam
- Sugar: World raw sugar (ISA daily price)
- Urea: Urea, FOB Middle East
- Wheat: US hard red winter, Gulf export
- Zinc: LME cash, special high grade
How the index is built, and where it can mislead
- Weights. A country's 2024 export quantities, taken as its export value on each commodity's primary customs line (CEPII BACI) divided by the 2024 average price, among the 39 commodities whose price series is complete every month from January 2000 to September 2026. A country needs at least $5 billion of priced exports, at least 40% of its tracked exports priced, and at least 3 commodities with a weight of 1% or more.
- Series left out. 16 price series are not used because they end before September 2026, were discontinued, or start after January 2000: barley (ends 2020-08, before 2026-09); canola (starts 2002-02, after January 2000); cobalt (ends 2026-08, before 2026-09); lithium (starts 2012-06, after January 2000); manganese (starts 2012-06, after January 2000); milk (ends 2026-08, before 2026-09); oats (ends 2026-08, before 2026-09); orange juice (ends 2026-08, before 2026-09); palladium (ends 2026-08, before 2026-09); salmon (starts 2010-05, after January 2000); shrimp (ends 2023-10, before 2026-09); sorghum (ends 2020-08, before 2026-09); sunflower oil (starts 2002-02, after January 2000); tobacco (ends 2026-07, before 2026-09); uranium (ends 2026-08, before 2026-09); wool (ends 2026-08, before 2026-09). They are not filled in, so their exports count as unpriced. Countries whose exports are mostly such goods, for example dairy, wool or salmon exporters, show lower coverage or do not appear.
- Coverage. The table shows what share of each country's tracked commodity exports carries a price. Tracked exports are the primary customs lines of the commodities on this site, not a country's total goods exports; manufactured goods and services are outside them, and make up most of the exports of countries such as Germany, China, Japan and Italy.
- Benchmarks are not the price received. Each commodity uses one benchmark series: concentrate and ore are priced with a refined-metal benchmark, coal with an Australian thermal price, sawnwood and logs with a tropical hardwood price, beef with an Australian and New Zealand price, and crude oil with Brent whatever the grade. A seller may be paid a different grade, place or contract price.
- Natural gas is left out. The site holds a US Henry Hub price, a European (TTF) price and a Japanese LNG import price, but none matches what a given exporter was paid under pipeline or long-term contracts. Its exports count as unpriced, so the coverage figures show the cost. Saudi Arabia, Iraq and Switzerland, whose priced exports are almost all one commodity, and Qatar and Algeria, whose natural gas is unpriced, do not appear in the table.
- One-commodity baskets. Where gold or crude oil is most of the basket, the index is mostly that price: gold is more than half of the baskets of South Africa, Hong Kong, Japan, Singapore, Uzbekistan, Ghana, Armenia, Tanzania, and several oil exporters are over 90% crude oil. Refiners and re-exporters such as Switzerland, the United Arab Emirates, Armenia, the United Kingdom, Germany, Italy or Japan can reflect what passes through.
- Trading hubs. Customs exports include re-exports, so the weights of hubs such as the Netherlands, Hong Kong or Singapore reflect what passes through, not what is produced; they are marked and left out of the highest and lowest comparisons.
- Real index. The nominal index divided by the US consumer price index, rebased to 2015 = 100. It ends in August 2026, a month earlier than the nominal index, because the price index is published later.
CEPII BACI (export weights, primary customs line of each commodity) and World Bank Pink Sheet and IMF benchmark prices. Generated 2026-10-22. Data: basket-prices.json.
More patterns
- Concentration:
- Producer or exporter?:
- Prices in real terms:
- Growth and decline:
- Linked prices and seasons:
- A century of real prices:
- Supplier exposure:
- Trade after export controls:
- Export share history:
- Prices around export controls:
- Substitution coverage:
- Critical risk matrix:
- Country reserve life:
- Prices and cumulative output:
- US import reliance and recycling:
- Data confidence:
- Export controls and bans:
- Chokepoints:
- By-product minerals:
- Peak production:
- Reserves and mining:
- Supply concentration:
- Land or yield?:
- Supply shocks and prices:
- Category price indices:
- Drawdowns and volatility:
- Stocks and prices:
- Which prices follow oil?:
- How reliable is the data?:
- Net exporters and importers:
- Country leaders:
- Export dependency:
- Concentration over time:
- Import dependency:
- Supplier shifts:
- Trade price against benchmark:
- Prices in other currencies:
- Do prices lead each other?:
- Volatility over time:
- Seasonality:
- Price ratios:
- El Niño and prices:
- Who consumes it:
- Self-sufficiency:
- Trade flows:
Every figure is computed from the same tables as the commodity pages. The full set is in patterns.json, and single facts from it appear each day on the facts page.