Press Release 31/03/2023
FOREIGN TRADE UNIT VALUE INDICES - IVU. IV/2022
Export prices rose by 8.6% in the fourth quarter of 2022
Imports registered a rise in their prices of 8.3
During the fourth quarter of 2022, the prices of exports posted an increase of 8.6% compared to the third quarter of 2022, according to Eustat data. There was a 7.2% increase in comparison with the same quarter of the previous year (the fourth quarter of 2021).
Prices of imports also continued in this direction, increasing by 8.3% in quarter-on-quarter terms and rising 10.0% in respect of the fourth quarter of 2021.
Prices for energy exports rose by 4.6% on the previous quarter, and prices for non-energy exports were up by 8.6%. Compared to the previous year, prices of energy products increased by 3.9% and those of non-energy products rose by 6.7%.
The price index for imports of energy products grew by 7.1% in its quarter-on-quarter rate, and that of non-energy products grew by 9.1%. In the year-on-year comparison, there was a significant advance in energy prices of 26.3%, which is 6.5% in the case of non-energy products.
Unit value index of Foreing Trade for the Basque Country by economic destination (%). 2022/IV
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 8,6 | 7,2 | 8,3 | 10,0 |
| | | | | |
| Energetic products | 4,6 | 3,9 | 7,1 | 26,3 |
| Non energetic products | 8,6 | 6,7 | 9,1 | 6,5 |
| Consumer goods | 7,6 | 11,2 | 6,9 | -3,5 |
| Capital goods | 7,1 | 5,4 | 5,1 | 4,4 |
| Intermediate goods | 9,3 | 6,5 | 8,7 | 11,9 |
(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 March 31, 2023
Source: Eustat. Foreign trade unit value indices-IVU
With regards to the classification of goods by economic destination, growth was seen in export prices for three sectors: Intermediate Goods were up 9.3%, Consumer Goods rose by 7.6% and Capital Goods increased by 7.1%. Similarly, regarding the previous year, the price increases for exports of Consumer Goods (11.2%), Intermediate Goods (6.5%), and Capital Goods (5.4%) stand out.
Analysing imports, it can be observed that, compared to the third quarter of 2022, Consumer Goods showed an increase of 6.9% but was the only sector where prices decreased in the year-on-year comparison, specifically by 3.5%. As for the other two types of goods, Intermediate Goods and Capital Goods, these increased in comparison with both the previous quarter, by 8.7% and 5.1% respectively, and the previous year, by 11.9% and 4.4%, in the same order.
Taking into account the economic areas exports are sent to, prices in relation to the third quarter of 2022 rose in all areas. They increased by 9.1% in the OECD, in the EU-28 and the Eurozone by 7.9% and 7.4% respectively and 6.4% 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; the OECD (7.4%) and the Rest of the World (6.5%) being especially noteworthy. The remaining areas were not far behind, with the EU-28 registering a growth rate of 6.0% and the Eurozone an increase of 5.4%.
Unit value index of Foreing Trade for the Basque Country by economical area (%). 2022/IV
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | 8,6 | 7,2 | 8,3 | 10,0 |
| | | | | |
| Euro zone | 7,4 | 5,4 | 6,8 | 7,5 |
| EU-28 | 7,9 | 6,0 | 4,9 | 5,2 |
| OECD | 9,1 | 7,4 | 6,1 | 8,3 |
| Rest of the world | 6,4 | 6,5 | 13,3 | 13,0 |
(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, 2023
Source: Eustat. Foreign trade unit value indices-IVU
For imports, all the geographical areas show increases in prices compared to the previous quarter, most notably in the Rest of the World (13.3%). In relation to the same quarter of the previous year, positive growth rates were also recorded in every economic area. Once again, the Rest of the World (13.0%) and the OECD (8.3%) especially stand out.
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