Press Release 31/03/2022
FOREIGN TRADE UNIT VALUE INDICES - IVU. IV/2021
The rate of export prices rose by 4.3% in the fourth quarter of 2021 in respect of the previous quarter
Prices of imports were also up 1.1%
During the fourth quarter of 2021 the prices of exports posted an increase of 4.3% compared to the third quarter of 2021, according to Eustat data. In comparison with the same quarter of the previous year, the rise stood at 11.4%.
Prices of imports also followed this trend, increasing by 1.1% compared to the previous quarter and rising 23.5% in respect of the fourth quarter of 2020.
Within exports, prices of energy products rose by 5.9% in respect of the third quarter of 2021 and those for non-energy products were up 4.3%. In relation to the same quarter of the previous year, the quarter of 2020, prices of energy products increased by 29.5% and those of non-energy products were up 11%.
The price index for imports of energy products fell by 11.1% in its quarter-on-quarter rate, while that of non-energy products rose by 4.8%. The year-on-year comparison showed a sharp rise of 54.6% for energy prices and an increase of 17.2% for non-energy prices.
Unit value index of Foreing Trade for the Basque Country by economic destination (%). 2021/IV
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 4,3 | 11,4 | 1,1 | 23,5 |
| | | | | |
| Energetic products | 5,9 | 29,5 | -11,1 | 54,6 |
| Non energetic products | 4,3 | 11,0 | 4,8 | 17,2 |
| Consumer goods | 2,6 | 5,4 | 10,6 | 15,7 |
| Capital goods | 3,9 | 3,2 | 2,7 | 6,5 |
| Intermediate goods | 5,0 | 15,9 | 0,2 | 25,8 |
(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 March 31, 2022
Source: Eustat. Foreign trade unit value indices-IVU
As regards the classification of goods by economic destination, of particular note was the increase in prices of all exports in respect of the previous quarter: Intermediate Goods increased by 5.0%, Capital Goods were up 3.9% and Consumer Goods rose by 2.6%. In year-on-year terms, growth could also be seen in prices of Intermediate Goods (15.9%), Consumer Goods (5.4%), and Capital Goods (3.2%).
Analysing imports, it can be observed that the prices of Consumer Goods rose in both quarter-on-quarter (10.6%) and year-on-year (15.7%) terms. This was also the case for the other two types of goods; Capital Goods increased by 2.7% compared to the previous quarter and by 6.5% in respect of the same quarter of the previous year. In the case of Intermediate Goods, prices rose by 25.8% in year-on-year terms, although the increase was more measured in respect of the previous quarter, at just 0.2%.
Taking into account the economic areas to which exports are sent, prices in relation to the third quarter of 2021 rose in all areas. They increased by 4.9% in the EU-28, 4.6% in the OECD, 4.4% in the Eurozone and 2.9% 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 and the EU-28, with a rise of 13.7% for both areas. The other areas also recorded positive rates, with a growth rate of 12.4% in the OECD and 6.7% in the Rest of the World.
Unit value index of Foreing Trade for the Basque Country by economical area (%). 2021/IV
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 4,3 | 11,4 | 1,1 | 23,5 |
| | | | | |
| Euro zone | 4,4 | 13,7 | 4,8 | 10,4 |
| EU-28 | 4,9 | 13,7 | 4,3 | 11,3 |
| OECD | 4,6 | 12,4 | -1,5 | 19,1 |
| Rest of the world | 2,9 | 6,7 | 8,4 | 35,7 |
(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 March 31, 2022
Source: Eustat. Foreign trade unit value indices-IVU
For imports, price increases in comparison with the previous quarter were registered in every geographical area except the OECD, where they fell by 1.5%. Similar price rises were seen in the Euro Zone (4.8%) and the EU-28 (4.3%) and in the Rest of the World the increase stood at 8.4% In relation to the same quarter of the previous year, positive growth rates were also recorded in every economic area, especially the Rest of the World (35.7%) and the OECD (19.1%), 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