Press Release 30/12/2022
FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2022
Export prices rose by 1.6% in the Basque Country in the third quarter of 2022
Imports registered a 4.3% price increase
During the third quarter of 2022 the prices of exports posted 1.6% growth compared to the previous quarter, according to Eustat data. There was a 6% increase in comparison with the same quarter in 2021.
Prices of imports followed this trend, increasing by 4.3% compared to the second quarter of 2022 and 7.0% in year-on-year terms.
The price trends were different for energy products and non-energy products in relation to the previous quarter. Thus, prices for energy exports fell by 1.9%, whereas prices for non-energy exports were up 1.7%. In year-on-year terms, however, both types of goods recorded positive variations in their prices, of 6.5% in energy products and 5.6% in non-energy products.
The trend was similar in the case of imports. The price index for energy products fell by 2.7% in quarter-on-quarter terms and in contrast, for non-energy products it rose by 6.5%. In the year-on-year comparison, energy prices posted growth of 8.6% and non-energy prices showed a 7.2% increase.
Unit value index of Foreing Trade for the Basque Country by economic destination (%). 2022/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 1,6 | 6,0 | 4,3 | 7,0 |
| | | | | |
| Energetic products | -1,9 | 6,5 | -2,7 | 8,6 |
| Non energetic products | 1,7 | 5,6 | 6,5 | 7,2 |
| Consumer goods | 3,2 | 6,7 | 0,6 | 1,2 |
| Capital goods | -4,0 | 3,5 | 4,1 | 5,4 |
| Intermediate goods | 2,8 | 6,5 | 4,6 | 7,8 |
(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 December 30, 2022
Source: Eustat. Foreign trade unit value indices-IVU
According to the classification of goods by economic destination, growth was also seen in the prices of Consumer Goods (3.2%) and Intermediate Goods (2.8%), while Capital Goods decreased by 4.0% compared to the previous quarter. In year-on-year terms, the price increases for exports of Consumer Goods (6.7%), Intermediate Goods (6.5%), and Capital Goods (3.5%) stand out.
Analysing imports, it can be seen that the prices of Consumer Goods rose in both quarter-on-quarter (0.6%) and year-on-year (1.2%) terms. This was also the case for the other two types of goods: Intermediate Goods increased by 4.6% compared to the previous quarter and by 7.8% in relation to the previous year. In the case of Capital Goods, the same evolution occurred and this grew by 4.1% compared to the second quarter of 2022 and 5.4% in year-on-year terms.
Taking into account the economic areas exports are sent to, prices in relation to the second quarter of 2022 rose in all areas. They increased by 2.0% in the EU-28, 1.6% in the Eurozone, 1.3% in the OECD and 3.7% in the Rest of the World. The trend repeats with regards to the same quarter of the previous year: there were significant price increases in all the economic areas, with the OECD (6.4%) and the EU-28 (6.1%) being especially noteworthy. The remaining areas were not far behind and thus the Eurozone registered a growth rate of 5.4% and the Rest of the World a 3.8% increase.
Unit value index of Foreing Trade for the Basque Country by economical area (%). 2022/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 1,6 | 6,0 | 4,3 | 7,0 |
| | | | | |
| Euro zone | 1,6 | 5,4 | 3,0 | 8,7 |
| EU-28 | 2,0 | 6,1 | 3,9 | 7,3 |
| OECD | 1,3 | 6,4 | 8,3 | 5,3 |
| Rest of the world | 3,7 | 3,8 | -4,5 | 10,9 |
(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, 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, most notably in the OECD (8.3%) and with the exception of the Rest of the World (-4.5%). In relation to the same quarter of the previous year, positive growth rates were also recorded in every economic area, especially Rest of the World (10.9%) and the Eurozone (8.7%).
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