Press release 10.10.11

FOREIGN TRADE PRICE INDEX OF THE BASQUE COUNTRY (IVU) 2ND QUARTER 2011

The year-on-year rate of export unit prices rose by 3.2% in the second quarter of 2011

In the case of imports, there was a greater rise in prices (13.2%)

In the second quarter of 2011 the unit prices of both imports and exports of the Basque Country, measured as Unit Value Indices and year-on-year rates, rose according to Eustat data. This rise was more marked for imports (13.2%) than for exports (3.2%).

If we compare this second quarter to the previous one, it can be observed that the rise in the unit prices of imports (1.5%) was also slightly greater than that for exports (1.3%).

If we consider the classification by economic destination, the year-on-year rate of the export price of the Basque Country was positive both for Consumer Goods (8.6%) and for Intermediate Goods (3.5%). However, there was a drop of 1.6% in the rate of Capital Goods.

The year-on-year rates of the import price of the Basque Country showed an increase for all types of goods. The figures for Intermediate Goods were particularly noteworthy, showing 14.4% growth, followed by those for Capital Goods (11.3%) and Consumer Goods (1.2%).

If we examine the geographical areas to which our goods are exported, we can show that the export unit prices for this second quarter, compared to the same quarter of last year, were higher in all areas. The greatest rises were registered in the Euro Zone and in the UE-27, with growth of 4.2% and 3.6% respectively. In the OECD this rise was 3.4% whilst exports to Other Countries registered lower growth, 2.7%.

In the case of imports - comparing them with exports – we see that the price rise was produced in all geographic areas, with those figures obtained from Other Countries (16.5%) and the OEDC (10.3%) particularly standing out.

With respect to the previous quarter, the export rates were equally positive in nearly all areas, with the increase seen in the area corresponding to the Euro Zone being particular noteworthy (3.1%). The EU-27 (2.6%) and the OECD (2.2%) also posted positive figures, whilst there was a fall of 1.5% in export prices for exports destined for Other Countries.

If we look at imports, we can see that Other Countries had the highest growth rate (4.6%). There are also positive figures for the areas corresponding to the EU-27 (3.7%) and the Euro Zone (3.5%). On the other hand, the OECD posted a fall in prices of 0.4%.

For further information:

Basque Statistics Office C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Tel: +34-945-01 75 00 Fax:+34-945-01 75 01 E-mail: eustat@eustat.es Contact: Patxi Garrido Tel:+34-945-01 75 13 Fax:+34-945-01 75 01 Further press releases on Foreign Trade Statistics of the Basque Country (IVU) Databank on Foreign Trade Statistics of the Basque Country (IVU)