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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

January 04, 2023

The Baltic Dry Index (BDI) measures procurement costs of shipping raw materials by sea. When these costs go down, goods producers benefit from lower shipping costs, and consumers benefit from lower prices for finished products. Higher values indicate most costly shipping, with impacts on goods producers and consumers.

Recent Activity (January 2021 to December 2022)


The Baltic Dry Index ended 2020 with an BDI of 1366 (December 24, 2020), increased rapidly to September 2021 (BDI = 5650) then declined over the next 15 months to a BDI of 1515. The net increease over the 15 month period was 10.9%.


Trend January 2015 to December 2022


The period 2015 initially started off slowly, reaching a BDI low of 290 in February 2016, followed by solid gains to September 2021. The index declined rapidly after September 2021, ending 2022 with a net gain of 93.7% and a BDI of 1515.


Long Run (January 2006 to December 2022)

Although the Baltic Dry Index indicates more costly shipping than was observed through much of the period before the COVID-19 pandemic, it remains well below peaks (11,793 in May 2008) observed prior to the global financial crisis.

The Baltic Exchange

Baltic Dry Index Commodities

Trading View


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