Press Release 26/09/2016
Export prices decreased by 0.1% in the second quarter of 2016 compared with the previous quarter
In the case of imports, prices rose by 2.3%
Export prices fell by 0.1% in the second quarter of 2016 compared with the previous quarter, according to EUSTAT data. Compared with the same quarter of the previous year, there was also a 4.3% decrease in export prices.
For imports, prices posted a positive quarter-on-quarter variation of 2.3%, which is a negative variation of 10.6% if compared with the same quarter of the previous year.
Energy export prices rose by 4.2% compared with the first quarter of 2016, whilst non-energy export prices were down by 0.1%. Compared with the same quarter of the previous year, prices for energy exports fell by 25.8% and non-energy exports by 1.8%.
The price index for imports of energy products grew by 11.1% in its year-on-year rate, whilst that of non-energy products grew by only 0.5%. In year-on-year terms, energy products saw price drops of 29.1%, whereas non-energy imports saw prices decrease by 2.7%.
According to the classification by economic destination of goods, the prices of Consumer Goods rose by 0.2% and the prices of Intermediate Goods by 0.4%, whilst the prices of Capital Goods decreased by 2.0% in terms of the export price index - all compared with the previous quarter. In year-on-year terms the prices of all goods types dropped: Consumer Goods fell by 1.0%, Capital Goods by 5.1% and Intermediate Goods by 4.9%.
As for import prices, Capital Goods prices showed a quarter-on-quarter increase of 0.1% and a year-on-year increase of 0.3%; prices of Intermediate Goods rose by 2.9 % compared to the previous quarter, but fell by 12.8% in comparison with the same quarter of 2015; in the case of Consumer Goods the opposite occurred, there was a quarter-on-quarter price drop of 0.3% and a year-on-year increase of 5.4%.
If geographic areas are taken into account, compared to the first quarter of 2016 export prices fell in the EU-28 (-0.2%), the Eurozone (-0.3%) and above all in the Rest of the World (-2.3%); on the other hand, export prices increased in the OECD (0.4%). Compared with the same quarter of the previous year, we can see that prices decreased in all the areas analysed, especially in the Eurozone (-6.0%), EU-28 (-5.6%).and the OECD (-4.6%).
As for imports, the only area to record drops in prices compared with the previous quarter was the OECD (-3.0%). However, there were year-on-year downturns in prices for all geographical areas, especially the Rest of the World (-17.4%) and the OECD (-7.7%).
For further information:
Eustat - Euskal Estatistika Erakundea / Instituto Vasco de Estadística
C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz
Press Service: servicioprensa@eustat.es Tlf: 945 01 75 62
Further press releases on foreign trade unit value indices-IVU of the Basque Country
Databank on foreign trade unit value indices-IVU of the Basque Country