International Trade Price Survey (SHPI)

One of the important indicators in a country is the international trade exchange rate, also known as the Term of Trade (ToT). This trade exchange rate is an indicator of a country's economic health, particularly in relation to the balance of payments (Balance of Payments). Changes in the ratio of export prices to import prices have a direct impact on a country's real income. This international trade exchange rate can be calculated using the International Trade Price Index (IHPI) which consists of the Export Price Index and the Import Price Index.

The International Trade Price Index (IHPI) measures changes in the overall price component of transactions of goods and services between residents of an economic area and residents of the world. The IHPI does not measure actual prices but measures changes in prices from one period to another. IHPI is important to use in analyzing a country's economy, because in seeing changes in the value of exports and imports, IHPI as a measure of the component of price changes can be used as a deflator of Gross Domestic Product (GDP). An increase or decrease in export / import value cannot be used directly to see export / import growth because the increase / decrease can be caused by changes in real prices or changes in currency exchange rates. Therefore, the export / import value must be divided by the export / import price index to reflect real growth.

The IHPI is also an important factor explaining the evolution of domestic inflation. A fall in the import price of final goods can affect the overall price level in the economy. Import prices can also be a good indicator of future inflation in a country, given that many domestic production inputs / raw materials are imported. Seeing the importance of the use of IHPI in a country's economy, it is important for BPS to be able to carry out an International Trade Price Survey (SHPI) to produce quality IHPI data. Therefore, BPS-RI through the Sub-directorate of Producer Price Statistics began to carry out SHPI 2021 activities to produce IHPI data. The 2021 SHPI activity is also a follow-up to ABS technical assistance in 2018 and the 2020 SHPI study.

The enumeration period of the International Trade Price Survey (SHPI) is conducted monthly every 20th to 30th. The sample allocation of Boyolali Regency consists of 4 companies, including: PT. Pearland, PT. Jesi Jason Wurja Wibowo, PT. Eco Smart Garmet Indonesia Sambi, and PT. Eco Smart Garmet Indonesia Klego.

Wednesday, February 3, 2020 Distribution Statistics Function conducted a visit to PT. Eco Smart Garmet Indonesia Sambi to ask for permission and provide an overview of the enumeration of the International Trade Price Survey (SHPI) which is carried out regularly every month. Hopefully, with the beginning, a good approach can facilitate data entry for the sake of preparing an accurate IHPI.