Energy Cost Monitoring
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Last Update：2025-10-15

ECM

The ECM provides a high-frequency indicator — Real Unit Energy Cost (RUEC) and Real Price Level Index for energy (Real PLI) — to measure and compare real energy cost differentials across nine countries: four in Asia (China, India, Japan, and Korea), and four in Europe (France, Germany, Italy, and the UK), and the U.S. The ECM also releases the EITE (Energy-Intensive Trade-Exposed) Output Index.

ECM Brief ECM Database Supplementary Note

Highlights from ECM202509

  • Real PLIs indicate that the real energy price differentials against the U.S. have widened by 15-24% compared with 2015–2019 average.
  • While energy prices have declined from their peak, they continue to hover around 20% to 80% above the 2015 level.
  • Except for India and China, EITE output remains sluggish, down by about 7% to 35% from 2015 levels.

EITE Output

EITE Outputs

Unit: Index (output in 2015=1.0). Period: January 2015–July 2025.

EITE Output Decomposition

Unit: Index (output in 2015=1.0). Period: January 2015–July 2025.

EITE Output Indices by Industry

Unit: Index (output in 2015=1.0). Period: January 2015–July 2025.

EITE Import

EITE Imports

Unit: Index (import in 2015=1.0). Period: January 2015–July 2025.

EITE Import Decomposition

Unit: Index (import in January 2015=1.0). Period: January 2015–July 2025.

EITE Import-Output

EITE Import-Output Ratio

Unit: Index (import and output in 2015=1.0). Period: January 2015–July 2025 (the bold line represents the 13-month moving average). The Import-to-Output Ratio is defined as the Import Index divided by the Output Index. Because the absolute scales of imports and output differ, caution is advised when comparing relative index trends between EITE and Non-EITE sectors.

EITE Import, Output, and Import-Output Ratio

Unit: Index (import and output in January 2015=1.0). Period: January 2015–July 2025. The Import-to-Output Ratio is defined as the Import Index divided by the Output Index.

Non-EITE Import, Output, and Import-Output Ratio

Unit: Index (import and output in January 2015=1.0). Period: January 2015–July 2025. The Import-to-Output Ratio is defined as the Import Index divided by the Output Index.