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Industry-Specific Exchange Rates
Trade-weighted exchange rates are used to compare the value of the U.S. dollar against the currencies of major trading partners, as in the Federal Reserve Board’s Price-Adjusted Broad Dollar Index. We construct import and export-weighted exchange rates for specific U.S. manufacturing and non-manufacturing industries to capture changes in the competitive conditions for 30 industries in the U.S. economy.
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Recent Observations
 
  • Across those industries with the highest shares of imports in domestic consumption, the dollar depreciation ranged from 3.8 to 4.4 percent in Q4 2010. For all 30 import industries that are tracked, an average dollar depreciation of 3.8 percent for the quarter compares with a 2.4 percent depreciation over the past year.


  • Across those industries with the highest shares of exports in total shipments, dollar depreciation ranged from 3.8 to 4.1 percent. During Q4 2010, the average depreciation across all industries was also 3.8 percent, which compares with a 2.3 percent depreciation, on average, over the past year.


  • Exchange rates for two industries with high trade orientation contrasted with a single aggregate exchange rate show that an aggregate measure provides a good indicator, but real exchange rates have evolved to differing degrees for exporters and importers by industry.


  • Most import-weighted exchange rates for manufacturing industries have returned to pre-crisis levels or registered a small depreciation, while those for most non-manufacturing industries are still somewhat higher. On the export side, exchange rates for most manufacturing and non-manufacturing industries have retraced almost all of the appreciation from the crisis.
 
Data
 
Industry-Specific Exchange Rates
  •  Manufacturing Industry Charts
         


  •  Non-Manufacturing Industry Charts
         


  •  Historic data
  • EXCEL
     
    Industry Trade Orientation
    Export Share, Import Share, Imported Input Share by Industry, and Over Time
  •  Manufacturing PDF
  •  Non-Manufacturing
  • PDF
  •  Historic data EXCEL
  •  
    References
     
    For more information, see:

    Industry-Specific Exchange Rates for the United States »
    By Linda S. Goldberg, Economic Policy Review, May 2004

    Indices of the Foreign Exchange Value of the Dollar offsite pdf
    By Mico Lauritan, Federal Reserve Bulletin, Winter 2005

    Summary Measures of the Foreign Exchange Value of the Dollar offsite
    Federal Reserve Statistical Release