Press Release 28/12/2016

FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2016

Export prices increased by 0.4% in the third quarter of 2016

In the case of imports, prices rose by 2.2%

Export prices rose by 0.4% in the third quarter of 2016 compared with the previous quarter, according to Eustat data. Import prices also rose, and to a greater degree, by 2.2%.

If we compare the distinctive performances of energy products and non-energy products, we can see that the prices of energy exports fell by 6.7% compared with the second quarter of 2016, whereas non-energy export prices rose by 0.7%. As for imports, both types of product performed similarly during this quarter compared with the previous quarter: the price index for imports of energy products grew by 2.1%, which is the same growth experienced by non-energy products (2.1%).

According to the classification by economic destinations of goods, the prices of Consumer Goods rose by 0.9% and the prices of Intermediate Goods rose by 0.5%, whilst the prices of Capital Goods decreased by 0.6%, all compared with the previous quarter. As for imports, all groups experienced decreases in prices: the prices of Capital Goods rose by 2.0% in quarter-on-quarter terms, Intermediate Goods by 1.9% and Consumer Goods by 3.1%.

If we take into account the geographical areas receiving the exports, prices compared with the second quarter of 2016 fell in the rest of the world (-1.4%) and increased in the EU-28 (2.3%), the Eurozone (2.7%) and the OECD (0.8%).

In year-on-year terms, and compared with the same quarter of the previous year, export prices and import prices continued to undergo negative growth rates. Export prices fell by 1.8% and import prices fell by 3.9%. Prices for energy exports fell more drastically by 18.8%, whereas non-energy export prices fell by 1.0%. As for imports, the prices for energy products fell by 16.7% and the prices for energy products hardly changed at all, increasing by 0.1% compared with the same quarter of the previous year.

By economic destination and in year-on-year terms, solely the prices for exports of Consumer Goods experienced a positive growth rate of 0.6%, with Capital Good prices falling by 2.9% and Intermediate Goods falling by 2.3%. Imports performed differently as well: the prices of Capital Goods rose by 2.8% in year-on-year terms, whereas the prices of Intermediate Goods fell by 5.6% and the prices of Consumer Goods actually rose by 7.0% in year-on-year terms.

By geographical area, we see that prices decreased in almost all the areas analysed in year-on-year terms: Rest of World (-3.1%), OECD (-1.6%) and EU-28 (-0.3%), the exception being the Eurozone where prices rose by 0.6%. However, there were year-on-year downturns in import prices for all geographical areas, especially the Rest of the World (-7.4%) and the OECD (-2.2%).

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.eus Tel: 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