Press Release 27/12/2024
FOREIGN TRADE UNIT VALUE INDICES - IVU. III/2024
In the third quarter of 2024 prices of exports rose by 0.8% in the Basque Country
Prices of imports posted growth of 1.3%
During the third quarter of 2024, prices of exports posted an increase of 0.8% compared to the same quarter of 2023, according to Eustat data. If we compare this with the previous quarter, there was an downturn of 0.9%.
Imports also followed this trend, as prices increased by 1.3% in year-on-year terms, but they also registered positive variation of 0.9% in respect of the second quarter of 2024.
Prices for energy exports rose by 4.2% compared to the previous year, whereas prices for non-energy exports were up by 0.5%. Compared to the previous quarter, prices of energy products decreased by 2.9% and those of non-energy products fell by 0.9%.
In the case of imports, the price index for energy products fell both in the year-on-year rate (down 0.9%) and in respect of the previous quarter (2.3% less). However, non-energy products grew by 1.9% in the year-on-year rate and 2.3% in quarter-on-quarter terms.
Unit value index of Foreing Trade for the Basque Country by economic destination (%). 2024/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | -0,9 | 0,8 | 0,9 | 1,3 |
| | | | | |
| Energetic products | -2,9 | 4,2 | -2,3 | -0,9 |
| Non energetic products | -0,9 | 0,5 | 2,3 | 1,9 |
| Consumer goods | 1,3 | -0,4 | 3,4 | 11,9 |
| Capital goods | -0,2 | 4,9 | 2,9 | 4,0 |
| Intermediate goods | -1,7 | 0,0 | 0,4 | -0,1 |
(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 27, 2024
Source: Eustat. Foreign trade unit value indices-IVU
As regards classification by economic destination, it is worth highlighting the increase in the prices of exports of Capital Goods (4.9%); Intermediate Goods went unchanged (0.0%) and Consumer Goods were down 0.4% compared to the previous year. With respect to the second quarter of 2024, the trend was reversed and it was prices of Consumer Goods which rose (1.3%), while they fell for Capital Goods (-0.2%) and Intermediate Goods (-1.7%).
Analysing imports, there was generalised growth in both the month-on-month comparison; with increases in the prices of Consumer Goods (3.4%), Capital Goods (2.9%) and Intermediate Goods (0.4%); and the year-on-year comparison, with increases of 11.9% for Consumer Goods and 4.0% for Capital Goods, but with the exception of Intermediate Goods, where prices were down 0.1%.
Taking into account the economic areas exports are sent to, the prices indicated an upward trend in respect of the previous year. In the Eurozone, they rose by 1.0%, in the EU by 0.2% and in the Rest of the World by 7.3%, while they fell by 0.2% in the OECD.
In respect to the second quarter of 2024, the trend reduced considerably in the Eurozone, with 0.2% growth while in the remaining areas, there were reductions of 1.0% in the OECD, 0.2% in the Rest of the World and 0.1% in the EU.
Unit value index of Foreing Trade for the Basque Country by economical area (%). 2024/III
| | EXPORTS | IMPORTS |
| | t/t-1 | t/t-4 | t/t-1 | t/t-4 |
| General index | -0,9 | 0,8 | 0,9 | 1,3 |
| | | | | |
| Euro zone | 0,2 | 1,0 | 2,3 | 4,5 |
| EU-28 | -0,1 | 0,2 | 2,5 | 4,4 |
| OECD | -1,0 | -0,2 | 1,5 | 2,6 |
| Rest of the world | -0,2 | 7,3 | -0,7 | -1,6 |
(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 27, 2024
Source: Eustat. Foreign trade unit value indices-IVU
For imports, three Economic Areas saw growth in both year-on-year and quarter-on-quarter prices, with the EU and the Eurozone of particular note. However, for import prices in the Rest of the World the trend was the opposite, with reductions of 1.6% in year-on-year terms and 0.7% in quarter-on-quarter terms.
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