Press Release 05/10/2012

FOREIGN TRADE PRICE INDEX OF THE BASQUE COUNTRY (IVU) 2ND QUARTER 2012

The year-on-year rate of export unit prices rose by 0.6% in the second quarter of 2012

In the case of imports, there was a greater rise in prices (1.3%)

In the second quarter of 2012 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 (1.3%) than for exports (0.6%).

If we compare this second quarter to the previous one, it can be observed that the fall in the unit prices of imports (-1.0%) was also slightly greater than that registered for prices corresponding to exports (-0.5%).

If we focus on the analysis of the classification by economic destination, we can see that the year-on-year export price rate of the Basque Country was negative for Consumer Goods (-0.2%) and for Capital Goods (-0.5%), whilst Intermediate Goods, on the other hand, had a positive rate of 1.2%.

The year-on-year data for prices of imports in the Basque Country reflect an increase for Intermediate Goods of 1.6% and of 0.8% for Consumer Goods, whilst Capital Goods experienced a decrease of -1.5%.

If we take into account the geographical areas where goods are exchanged, we can show that the export unit prices for this second quarter compared to the same quarter of last year were up by 2.0% for both the Eurozone and for the EU-27. Prices for the OECD (0.9%) also increased, whilst those for the Rest of the World experienced a decrease of -0.2%.

In the case of imports there was an upward trend in prices for the zones in question, observed above all in those originating from the Eurozone (2.5%) and from the OECD (1.6%). There were also year-on-year prices in the other two zones but these were more moderate, with rates of 0.9% for the EU-27 and 0.5% for the Rest of the World.



With regards to the previous quarter, export price rates experienced slight drops of -0.6% for the OECD and the Rest of the World and of -0.1% for the EU-27. The Eurozone, for its part, did not experience any variation.

Amongst imports, an increase of 1.1% was registered for the Eurozone, 0.8% for the EU-27 and 0.1% for the OECD. With the Rest of the World, for its part, there was a negative rate of -2.9%.

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)