On changes of unit value of foreign trade in the 2nd quarter of 2008

25.08.2008

Compared to corresponding quarter of 2007, the unit value (UV) in the 2nd quarter of 2008 increased by 8.8% for exported goods and by 9.9% for imported goods, according to the data of the Central Statistical Bureau of Latvia. Compared to the previous quarter, the UV of exported goods increased by 2.3% and the unit value of imported goods rose by 4.6%.

Changes of the unit values compared to the corresponding quarter of previous year (%)

Changes of unit value in the main commodity groups (%)

Unit value changes in 2nd quarter of 2008
compared to

2nd quarter of 2007

1st quarter of 2008

exports

imports

exports

imports

Total

8.8

9.9

2.3

4.6

Prepared foodstuffs (incl. alcoholic beverages and tobacco products)

12.1

5.4

5.1

0.8

Mineral products

33.5

42.9

13.9

26.0

Products of the chemical and allied industries

26.2

25.3

-0.2

0.8

Plastics and articles thereof

7.8

4.8

7.0

2.8

Wood and articles of wood

-2.3

0.0

-5.0

-3.6

Textiles and textile articles

4.6

2.9

0.6

-1.8

Base metals and articles of base metals

8.2

12.2

17.3

11.6

Machinery and mechanical appliances; electrical equipment

10.6

-1.7

0.1

1.8

Transport vehicles

22.0

-8.1

2.7

-5.7

Miscellaneous manufactured articles

16.0

0.3

-0.8

6.4

Compared to the 1st quarter of 2008, the average level of export unit value in the 2nd quarter of 2008 was mostly raised by the UV increase of machinery and mechanical appliances; electrical equipment (by 0.9 percentage points), of mineral products (by 0.8 percentage points), of base metals and articles of base metals, as well as of transport vehicles (by 0.7 percentage points), and of prepared foodstuffs (by 0.4 percentage points). Over the same period the most important lowering effect (by 0.5 percentage points) had the decrease of the UV of wood and articles of wood.

Compared to the previous quarter, the overall level of import unit value in the 2nd quarter of 2008 was mostly raised (by 3.6 percentage points) by the UV increase of mineral products (mainly of natural gas). The rise of the UV of base metals and articles of base metals increased the UV level by 1.1 percentage point, of machinery and mechanical appliances; electrical equipment – by 0.3 percentage points. But the most important lowering effect (by 0.7 percentage points) had the decrease of the UV of transport vehicles and associated transport equipment.

Prepared by Price Statistics Department
Producer Price Indices Section
Tel. 67366813
Aleksandrs Gržibovskis