Press Release 06/27/2014

FOREIGN TRADE PRICE INDEX OF THE BASQUE COUNTRY (IVU) 1ST QUARTER 2014

The year-on-year rate of export unit prices fell by 1.5% in the first quarter of 2014

In the case of imports, prices fell by 4.8%

The unit prices of exports from the Basque Country posted a year-on-year decrease of 1.5% in the first quarter of 2014, according to Eustat data. Compared to the previous quarter, the drop was 1%.

For imports, prices also posted a negative year-on-year variation of 4.8%, or -1.4% in comparison to the fourth quarter of 2013.

The year-on-year analysis of exports according to the classification of goods by economic destination shows a fall for Intermediate Goods (-2.9%) and increases for Capital Goods (2.1%) and Consumer Goods (1.5%).

In the case of imports, there were decreases in the prices of Intermediate Goods (-5.4%) and Capital Goods (-3.4%) and an increase of 1.4% in Consumer Goods.



If geographic areas are taken into account, it can be seen that the year-on-year unit export prices fell in all areas analysed, especially in exports to the Rest of the World (-3.4%) (outside the European Union) and to the OECD and the Euro Zone (-1.8%). These prices also were down in relation to the fourth quarter of 2013, mainly, like in the case above, for exports to the Rest of the World (-3.3%) and the Euro Zone (-0.9%).

In terms of imports, the decreases in the year-on-year prices in all geographic areas should be noted, mainly in the Rest of the World (-7.4%) and the OECD (-3.4%). Compared to the previous quarter, the price reductions were more moderate, especially the decrease of 2% recorded by the Rest of the World.

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)