Press Release 30/12/2021
FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2021
The rate of export prices rose by 3.4% in the third quarter of 2021 in respect of the previous quarter
Prices of imports were also up 8.2%
During the third quarter of 2021 the prices of exports posted an increase of 3.4% compared to the second quarter of 2021, according to Eustat data. In comparison with the same quarter of the previous year, the rise stood at 9.4%.
Prices of imports also followed this trend, increasing by 8.2% compared to the previous quarter and rising 25.4% in respect of the third quarter of 2020.
Within exports, prices of energy products rose by 10.7% in respect of the second quarter of 2021 and those for non-energy products were up 3.2%. Compared to the same quarter of the previous year, prices of energy products increased by 29.0% and those of non-energy products rose by 8.9%.
The price index for imports of energy products grew by 18.7% in its quarter-on-quarter rate, and that of non-energy products was up 5.5%. The year-on-year comparison showed a sharp rise of 73.2% for energy prices and an increase of 16.1% for non-energy prices.
Unit value index of Foreing Trade for the Basque Country by economic destination (%). 2021/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 3,4 | 9,4 | 8,2 | 25,4 |
| | | | | |
| Energetic products | 10,7 | 29,0 | 18,7 | 73,2 |
| Non energetic products | 3,2 | 8,9 | 5,5 | 16,1 |
| Consumer goods | 2,5 | 2,5 | 2,9 | 6,5 |
| Capital goods | 1,2 | 7,7 | 4,5 | 0,8 |
| Intermediate goods | 4,5 | 12,0 | 8,8 | 29,9 |
(t / t-1) Variation rate of the last quarter observed with regards to the immediately preceding quarter
(t / t-4) Year-on-year variation rate of the last quarter observed with regards to the same quarter of the previous year
Date December 30, 2021
Source: Eustat. Foreign trade unit value indices-IVU
As regards the classification of goods by economic destination, it is worth highlighting the increase in the prices of exports of Intermediate Goods (4.5%), Consumer Goods (2.5%) and Capital Goods (1.2%),compared to the previous quarter. In year-on-year terms, prices grew for Intermediate Goods (12.0%), Capital Goods (7.7%), and Consumer Goods (2.5%).
Analysing imports, it can be observed that the prices of Intermediate Goods rose in both quarter-on-quarter (8.8%) and year-on-year (29.9%) terms. This was also the case for other types of goods; as such, Consumer Goods rose 2.9% compared to the previous quarter and 6.5% in respect of the same quarter of the previous year. For their part, Capital Goods grew 4.5% in quarter-on-quarter terms, although the increase was more measured than the previous year, at just 0.8%.
Taking into account the economic areas to which exports are sent, prices in relation to the second quarter of 2021 rose in all areas. They increased by 3.1% in the EU-28, 3.2% in the OECD, 3.6% in the Eurozone and 4.5% in the Rest of the World. The trend continues with regard to the same quarter of the previous year: there were increases in prices in every economic area, most notably the Eurozone (11.5%) and, above all, the Rest of the World, where they were up 11.9%. The other areas also recorded positive rates, with a growth rate of 10.2% in the EU-28 and 8.8% in the OCDE.
Unit value index of Foreing Trade for the Basque Country by economical area (%). 2021/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 3,4 | 9,4 | 8,2 | 25,4 |
| | | | | |
| Euro zone | 3,6 | 11,5 | 2,0 | 9,6 |
| EU-28 | 3,1 | 10,2 | 3,2 | 10,3 |
| OECD | 3,2 | 8,8 | 7,3 | 21,8 |
| Rest of the world | 4,5 | 11,9 | 9,9 | 34,6 |
(t / t-1) Variation rate of the last quarter observed with regards to the immediately preceding quarter
(t / t-4) Year-on-year variation rate of the last quarter observed with regards to the same quarter of the previous year
Date December 30, 2021
Source: Eustat. Foreign trade unit value indices-IVU
For imports, price increases in comparison with the previous quarter were registered in every geographical area, most notably in the OECD (7.3%) and, in particular, the Rest of the World (9.9%). In relation to the same quarter of the previous year, positive growth rates were also recorded in every economic area, especially the OECD (21.8%) and the Rest of the World (34.6%), areas where the “energy” component has a major influence.
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