Press Release 28/12/2018

FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2018

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Export prices increased by 1.6% in the third quarter of 2018

In the case of imports, prices rose by 3.5%

During the third 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 6.6%. Import prices were also up, not only with respect to the second quarter of 2018 (3.5%), but also in year-on-year terms (10.8%).

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 4.1% compared with the second quarter of 2018, whilst non-energy export prices were up by 1.4%. Compared with the same quarter of the previous year, prices for energy exports rose by 28.8% and non-energy exports by 5.0%.

The price index for imports of energy products grew by 10.1% in its year-on-year rate, and that of non-energy products grew by 0.7%. In year-on-year terms, energy products saw price rises of 37.5%, and non-energy products saw prices increase by 1.8%.

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According to the classification of goods by economic destination, of particular note is the rise in prices of the three types of goods. The price index of Consumer Goods was up 2.6%, the same percentage as that of Capital Goods, and prices of Intermediate Goods increased by 1.1%, all compared to the previous quarter. There was also widespread growth in year-on-year terms, particularly in Capital Goods (8.7%) and Intermediate Goods (6.8%).

Analysing imports, it can be observed that compared to the previous quarter the only price decrease was in Capital Goods (-1.0%), whereas prices of Intermediate Goods increased by 3.9%, and those of Consumer Goods by 2.6%.

If the geographic areas to which exports are sent are taken into account, it can be seen that prices in relation to the second quarter of 2018 rose in all areas: Rest of the World (3.3%), OECD (1.3%), EU-28 (0.7%) and the Euro Zone (0.6%). Compared to the same quarter of the previous year, price rises were significantly higher, fluctuating between 8.4% for the Euro Zone and 6.1% for the Rest of the World.

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Imports show a similar trend with sharp year-on-year rises above all in the “Rest of the World” category (16.6%); in relation to the previous quarter, mention should be made of the 1.1% drop in the Euro Zone.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 945 01 75 62

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Export prices increased by 1.6% in the third quarter of 2018

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