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Press Release 30/09/2015

FOREING TRADE UNIT VALUE INDICES-IVU- II/2015

Export prices remained constant during the second quarter of 2015

In the case of imports, prices fell by 8.5%

During the second quarter of 2015 the prices of exports from the Basque Country showed no year-on-year variation (0.0%) according to Eustat data. Compared to the previous quarter, there was a 0.1% growth.

For imports, prices posted a negative year-on-year variation of 8.5%, which is positive (4.1%) if compared with the first quarter of 2015.

Within exports, energy was responsible for the changes in total price variation, with a year-on-year downturn of 14.5%. For non-energy exports, however, there was an upward trend in prices of 2.4%.

This performance was also seen in imports, to an even greater extent. The price index for imports of energy products fell 27% in its year-on-year rate, whilst that of non-energy products rose by 3.9%.

Foreign Trade Unit Value Indices for the Basque Country by economic destination. Second quarter 2015. (%)
Source: Eustat. Foreign trade unit value indices-IVU

The year-on-year analysis of exports according to the classification of goods by economic destination shows a decrease of 2.1% for Consumer Goods and an increase of 1.5% for Capital Goods and 0.2% for Intermediate Goods.

In the case of imports, there were increases in the price indexes of Consumer Goods (10%) and Capital Goods (5.1%) and a decrease of 10.5% in Intermediate Goods.

If the geographic areas are taken into account, it can be seen that export prices in this quarter compared to the same quarter of the previous year fell in nearly all areas analysed, especially in exports to the Eurozone (-3.2%) to the EU-28 (-1.7%) and to the OECD (-0.3%). These prices fell in relation to the first quarter of 2015, above all in the Eurozone (-1.6%), but rose in the Rest of the World (3.7%).

Foreign Trade Unit Value Indices for the Basque Country by economic destination. Second quarter 2015. (%)
Source: Eustat. Foreign trade unit value indices-IVU

In the case of imports, there were year-on-year downturns in prices for all geographical areas, above all the Rest of the World (-13.7%). Compared to the previous quarter, the only decrease recorded was in the EU-28 countries (-0.8%).