Press Release 26/09/2014

FOREIGN TRADE PRICE INDEX OF THE BASQUE COUNTRY (IVU) II/2014

The year-on-year rate of export unit prices fell by 2.3% in the second quarter of 2014

In the case of imports, prices fell by 2.7%

The unit prices of exports from the Basque Country posted a year-on-year decrease of 2.3% in the second quarter of 2014, according to Eustat data. Compared to the previous quarter, the drop was 0.2%.

For imports, prices also posted a negative year-on-year variation of 2.7%, or -0.2% in comparison to the first quarter of 2014.

The year-on-year analysis of exports according to the classification of goods by economic destination shows a decrease for Capital Goods (-4.4%) and for Intermediate Goods (-2.7%) and an increase for Consumer Goods (1.7%).

In the case of imports, there were also decreases in the prices of Intermediate Goods (-3%) and Capital Goods (-1.8%) and an increase of 0.5% in Consumer Goods.

If geographic areas are taken into account, it can be seen that year-on-year unit export prices in this quarter fell in all areas analysed, especially in exports to the Eurozone (-3.0%). These prices also fell in relation to the first quarter of 2014 in all areas except for the Rest of the World where there was a rise of 3.2%.

In terms of imports, the decreases in the year-on-year prices in all geographic areas should be noted, mainly in the Rest of the World (-3.9%) and the OECD (-1.9%). Compared to the previous quarter, the price reductions were more moderate, especially the decrease of 0.9% recorded by the Eurozone.

For further information:

Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tlf: 945 01 75 62 Further press releases on Foreign Trade Statistics of the Basque Country (IVU) Databank on Foreign Trade Statistics of the Basque Country (IVU)