Press release 06/07/2009
FOREIGN TRADE PRICE INDEX (UVI) 1st QUARTER 2009
In the first quarter of 2009 the inter-annual rate of unit prices of exports decreased by 3.5%
In the case of imports, the fall in prices was greater, 9.7%
In the first quarter of 2009 there was a fall in the unit prices of both exports and imports, measured as Unit Value Indices and inter-annual rates, according to Eustat data. In the case of imports, the fall was greater, 9.7%, compared to a more modest fall in export prices, which came to 3.5%.
As regards the previous quarter, the fall in the unit prices of imports (-10.9%) was also more marked than for exports (-4.7%).
Foreign Trade Unit Value Indices for the Basque Country by economic destination. First quarter 2009
If we turn to the classification by economic destination, the fall in the inter-annual rate for export prices took place for all types of goods. The decrease was sharper in the case of intermediate goods and consumer goods (-4.4%) and (-2.0%) respectively and more modest for capital goods (-0.4%).
The decrease in the unit price of imports was more dramatic and was caused by the fall in the prices of intermediate goods (-11.7%). These, in turn, were highly influenced by the important setback seen in import prices of intermediate energy products (-23.2%). Both consumer goods (+3.8%) and capital goods (+0.5%) experienced growth in their import unit prices.
If we examine the geographical areas which our goods are exported to, the export unit prices for this first quarter compared to the same quarter of last year were lower in all areas. They fell by 6.7% in the rest of the world and by 3.0% in the euro zone. The price fall was slighter for exports heading for the EU27 (-2.5%) and the OECD (-2.6%).
Foreign Trade Unit Value Indices for the Basque Country by geographical area.
First quarter 2009
The price falls for imports in terms of inter-annual rates were generally sharper in all areas, with the most notable being the fall in the rest of the world (-15.0%) influenced by the decrease in the price of crude oil. Decreases in import prices were also seen in the euro zone (-7.1%), the EU27 (-5.2%) and the OECD (-6.1%).
As regards the previous quarter, the price falls for imports were similar and took place over all geographic areas, even though in the cases of the EU-27 and OECD they were almost double. In the case of exports the sharpest decrease in unit prices was that of products heading for other countries (-6.2%), while for the Euro Zone and EU-27 more modest rates of -2.5% and -2.8% respectively were seen.
Foreign Trade Unit Value Indices for the Basque Country. Inter-annual rates (Trend)
For further information:
Euskal Estatistika-Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Tel:+34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: firstname.lastname@example.org
Contact: Patxi Garrido
Tel:+34-945-01 75 13 Fax:+34-945-01 75 01
Press releases on the Internet: www.eustat.es
Data bank: www.eustat.eus/bancopx/english/indice.aspx