Changes in the unit values of foreign trade in 2005

24.02.2006

Compared to 2004, the unit value (UV) in Latvia increased in 2005 on average by 10.3% for exported goods and 12.6% for imported goods, according to the Central Statistical Bureau of Latvia.

 Compared to the corresponding period of 2004, the unit value of exported goods in the 4th quarter of the previous year increased by 8.3% and the unit value of imported goods rose by 11.9%. Compared to the previous 3rd quarter, the unit value increased by 1.8% for exported goods and 1.0% for imported goods. 

Changes in the unit value of foreign trade by quarter in 2005 were as follows: 

(in per cent)

 

Unit value changes over

corresponding period of previous year

previous period

 

exports

imports

exports

imports

2005 I - IV

10.3

12.6

10.3

12.6

I

14.2

10.2

4.5

3.4

II

9.8

13.2

0.6

3.3

III

9.1

15.1

1.3

3.6

IV

8.3

11.9

1.8

1.0

 

Export unit value indices and changes in the value by main commodity groups in the 4th quarter of 2005:

(in per cent) 

Weights
2004

Unit value index
2005

(2004=100)

Unit value changes
IV quarter 2005
compared to

IV quarter
2004

III quarter
2005

Total exports

100.0

110.3

8.3

1.8

                                             by main commodity groups:

Prepared foodstuffs (incl. alcoholic beverages and tobacco products)

6.0

113.5

24.0

4.3

Mineral products

5.2

124.4

42.1

7.4

Products of the chemical and allied industries

5.6

112.2

15.1

4.7

Wood and articles of wood

29.6

108.6

3.9

-0.7

Textiles and textile articles

10.5

113.4

7.0

-0.5

Basic metals and articles of basic metals

13.8

104.0

2.3

6.8

Machinery and mechanical appliances; electrical equipment

7.6

111.0

5.8

0.1

Miscellaneous manufactured articles

5.1

110.3

5.9

1.4

 Compared to the 3rd quarter, the average level of export unit value in the 4th quarter of 2005 was raised mostly by the UV increase of 0.9 percentage points for basic metals and articles of basic metals (especially for iron and non-alloy steel bars and wires). The average UV level for exported goods was raised by the following UV increases: 0.4 percentage points for mineral products (mainly residual fuel oil), 0.3 percentage points for the products of the chemical and allied industries as well as for prepared foodstuffs. The decrease of UV for wood and articles of wood lowered in turn the average UV of exported goods by 0.2 percentage points.

Import unit value indices and changes in the value by main commodity groups in the 4th quarter of 2005:

(in per cent) 


Weights
2004

Unit value
index
2005
(2004=100)

Unit value changes
IV quarter 2005
compared to

IV quarter
2004

III quarter
2005

Total imports

100.0

112.6

11.9

1.0

by main commodity groups:

Vegetable products

2.7

118.9

22.5

6.8

Prepared foodstuffs (incl. alcoholic beverages and tobacco products)

5.9

107.3

8.7

4.0

Mineral products

12.6

140.0

38.4

0.8

Products of the chemical and allied industries

9.1

110.2

7.5

1.7

Plastics and articles thereof

4.9

111.8

6.1

5.9

Wood and articles of wood

3.0

106.3

7.0

2.1

Pulp of wood; paper and paperboard

3.3

109.7

7.6

-4.0

Textiles and textile articles

5.6

109.3

4.0

-2.4

Basic metals and articles of basic metals

10.0

109.0

1.5

-2.8

Machinery and mechanical appliances; electrical equipment

19.1

102.4

7.7

2.9

Transport vehicles

10.2

112.8

9.9

-0.1

Miscellaneous manufactured articles

2.6

110.0

8.5

3.3


Compared to the previous quarter, the average level of import unit value in the 4th quarter last year was raised mostly by the UV increase of 0.5 percentage points for machinery and mechanical appliances; electrical equipment. The level of UV for imported goods was raised by the following UV increases: 0.3 percentage points for plastics and articles thereof and 0.2 percentage points for vegetable products, prepared foodstuffs as well as for the products of the chemical and allied industries. Over the same period the greatest lowering effect (by 0.3 percentage points) was due to a fall in the UV of the articles of iron and steel.

 

Prepared by the Price Statistics Department
Producer Price Indices Section
Tel. 7366813
Aleksandrs Grzibovskis