Press Release 26/09/2018
FOREIGN TRADE UNIT VALUE INDICES - IVU. II/2018
Export prices increased by 1.6% in the second quarter of 2018
In the case of imports, prices rose by 3.6%
During the first quarter of 2018 the prices of exports posted 1.6% growth compared with the previous quarter, according to Eustat data. In comparison with the same quarter of the previous year, the increase is 7.7%.
Import prices were also up, not only with respect to the fourth quarter of 2018 (3.6%), but also in year-on-year terms (8.9%).
Within exports, the growth rate of prices of energy products stands out both in relation to the previous quarter and in year-on-year terms. Energy export prices rose by 8.5% compared with the fourth quarter of 2018, whilst non-energy export prices were up by 0.9%. Compared with the same quarter of the previous year, prices for energy exports rose by 34.4% and non-energy exports by 5.9%.
The price index for imports of energy products grew by 8.0% in its year-on-year rate, and that of non-energy products grew by 1.8%. In year-on-year terms, energy products saw price rises of 25.8%, and non-energy products saw prices increase by 3.2%.
According to the classification economic destinations of goods, in the case of exports, there were significant increases in the prices of exports of Intermediate Goods (2.1%), followed by the prices of Consumer Goods (0.8%), whilst the price index for exports of Capital Goods remained stable (0.2%), all compared with the previous quarter. In year-on-year terms prices rose in all the groups: Capital Goods were up by 10.7%, Intermediate Goods by 8.8% and Consumer Goods by 1.3%.
Analysing imports, it can be observed that the three groups of goods all registered growth compared to the previous quarter. Of particular note is Intermediate Goods with an increase in prices of 4.0%. For this latter type of goods the growth is even greater (10.6%) if the comparison is made in respect of the same quarter of the previous year. In this same period the only price decrease was in Capital Goods (-4.1%).
If the geographic areas to which exports are sent are taken into account, it can be seen that prices in relation to the first quarter of 2018 rose in all areas: OECD (1.8%), Euro Zone (1.8%), EU-28 (1.1%) and the Rest of the World (0.3%). Compared to the same quarter of the previous year, price rises were significantly higher, fluctuating between 8.4% for the Euro Zone and 6.3% for the Rest of the World.
Imports show a similar trend with quarter-on-quarter increases, and even greater increases in the year-on-year comparison.
The highest variation rate in the price index of exports in the three months that make up the second quarter of 2018 was registered in May, with growth of 2.1% compared to the previous month.
For further information:
Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
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