Press Release 23/09/2013

FOREIGN TRADE PRICE INDEX OF THE BASQUE COUNTRY (IVU) 2ND QUARTER 2013

The year-on-year rate of export unit prices rose by 1.1% in the second quarter of 2013

For their part, the prices of imports were down by 0.8%

During the first quarter of 2013 unit prices of exports from the Basque Country, measured as Unit Value Indices and year-on-year rates, registered an increase of 1.1% with regards to same quarter of the previous year, according to Eustat data, which was similar to that obtained with regards to the first quarter (1%). The opposite was true for imports, given that a 0.8% drop in the index was recorded in year-on-year terms and a decrease of 2.4% with respect to the previous quarter.

In the analysis according to the classification by economic destination, we should pointed out in the case of exports the increase in the price index of Consumer Goods, of 3.4%, being more moderate in the case of Intermediate Goods and Capital Goods, with results of 0.7% and 0.1%, respectively. In the case of Imports there were both rises and falls in their year-on-year rates: Consumer Goods were up by 2.5% whilst Capital Goods descended by 1.9% and Intermediate Goods were down by 1%.

If geographic areas are taken into account, it is noteworthy that the unit export prices in this quarter compared to the same quarter of the previous year rose in all areas analysed, especially in the Euro Zone (1.8%) and the OECD (1.2%).

In the case of imports the opposite was true, given that all geographical areas saw decreases in their year-on-year rates, fluctuating between the 0.9% drop in the case of the EU-27 and the OECD, 0.7% in the Eurozone and a downturn in the year-on-year rate of 0.6% for the Rest of the World.

For exports by geographical areas and with respect to the previous quarter, all rates registered positive values, varying between 1.3% for the OECD and 0.2% for the EU-27 and the Rest of the World.

If we consider imports compared to the previous period, we can observe general downturns in the price indices, with falls of 3.1% for those of the Rest of the World, 2.2% in prices originating from the Eurozone, 2.1% in those from the EU-27 and finally a drop of 1.9% in those from the OECD.

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)