Press Release 30/12/2019

FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2019

Export prices increased by 1.8% in the third quarter of 2019 compared to the previous quarter

In the case of imports, prices registered a decrease of 0.5%

During the third quarter of 2019 the prices of exports grew 1.8% compared with the previous quarter, according to Eustat data. In comparison with the same quarter of the previous year, the increase is also 1.8%. Prices of imports, however, were down 0.5% regarding the second quarter of 2019, although they maintained a trend contrary to the same quarter of the previous year, with an increase of 0.6%.

Within exports, the growth rate of prices of “non-energy” products stands out both in relation to the previous quarter and in year-on-year terms. Non-energy export prices rose by 2.0% compared with the second quarter of 2019, whilst energy export prices were down by 2.3%. In relation to the same quarter of the previous year, prices for non-energy exports were up by 1.8% and those for energy exports fell by 0.1%.

The price index for imports of energy products dropped by 7.4% in its quarter-on-quarter rate, and that of non-energy products rose by 2.7%. There was a similar trend for the year-on-year rate, given that prices of energy products underwent a 3.3% reduction and those for non-energy products increased by 3.0%.

According to the classification of goods by economic destination, of particular note in the case of exports is the rise in prices of the three types of goods. The price index of Intermediate Goods was up 0.3%, that of Consumer Goods by 2.5%, and the price index of Capital Goods increased by 6.2%, all compared to the previous quarter. There was also general growth in year-on-year terms, particularly in Capital Goods (3.9%), with Intermediate Goods and Consumer Goods undergoing a 1.3%. increase in their rate.

Focusing the analysis on imports, it can be observed that compared to the previous quarter the only price decrease was in Intermediate Goods (-1.2%), whereas prices of Consumer Goods increased (4.0%), along with those of Capital Goods (4.2%).

If the geographic areas to which exports are sent are taken into account, it can be seen that prices in relation to the second quarter of 2019 rose in all areas: Rest of the World (6.6%), OECD (0.9%), EU-28 (0.7%) and the Euro Zone (0.6%). In comparison with the same quarter of the previous year, there was a greater rise in the Rest of the World area (8.9%), and a much less pronounced increase in the OECD (0.4%); notwithstanding, there were slight decreases in the EU-28 (-0.4%) and the Euro Zone (-0.8%).

In the case of imports, the rates increased in all economic areas with the exception of the Rest of the World which, compared to the previous quarter, experienced a variation of -2.9%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.es Tel: 945 01 75 62