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Export prices down
statistikk
2003-07-15T10:00:00.000Z
External economy;External economy
en
uhvp, External trade in goods, indices of volume and price, import, export, price trends, volume development, product groups (for example food, raw materials, fuel), areas of application (for example energy goods, building materials, consumables)Balance of payments, External trade , External economy
false

External trade in goods, indices of volume and price, Q2 2003

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Export prices down

Export prices with the exclusion of ships and oil platforms decreased by 9.4 per cent in the 2nd quarter of 2003 compared with the 1st quarter of 2003. Fuel prices drove the price level down. Import prices showed on the other hand a modest increase.

Following a rather strong growth of 8.1 per cent in the last quarter, the index of export prices was at about the same level since the downward trend started in the 4th quarter of 2001. This marked decline is mainly due to lower prices of fuel, down by 16.4 per cent, such as mineral oil, down 17.8 per cent, and gas, down 10.2 per cent. The growth in the other main groups did not compensate for the downward trend.

Compared with the corresponding quarter last year the price level of exports of goods with the exclusion of ship and oil platforms went down as well, 4.2 per cent. Prices of crude oil decreased by 7.7 per cent.

The prices of traditional goods fell by 2.6 per cent from the 2nd quarter of 2002 to the 2nd quarter of 2003. A strong decrease was observed for food products, down 9.4 percent. While fish and fish products decreased by 14.0 per cent, dairy products and eggs decreased by 9.6 per cent.

Lower exports of fuel

The export volume with the exclusion of ships and oil platforms fell by 2.7 per cent from the 2nd quarter of 2002 to the 2nd quarter of 2003. A 4 per cent drop for fuel turned out to be the strongest, single price decrease. However, seasonally adjusted figures indicate an upward trend, showing an increase of 3.8 per cent. With the exception of the decrease in the 1st quarter of 2003, this is a somewhat stronger increase compared with the development in the last couple of years.

External trade in commodities excl. ships and oil platforms. Indices of price and volume. 2nd quarter 2003
Commodity group1 Commodity SITC Volume Price
2nd quarter 2003 2nd quarter 2002 and 2003. Change in per cent 2nd quarter 2003 2nd quarter 2002 and 2003. Change in per cent
Imports          
Total 0 - 9  213.0 0.5 92.8 -1.5
Of which          
Food. beverages and tobacco 0 - 1  182.1 0.7  122.1 -0.5
Crude materials except fuels 2  246.9 -0.2 74.1 -1.2
Fuels 3  127.5 25.1  174.0 -1.7
Manufactured goods except food. beverages and tobacco 5 - 9  217.3 -0.6 90.3 -1.5
           
Exports          
Total 0 - 9  235.0 -2.7  132.6 -4.2
Of which          
Food. beverages and tobacco 0 - 1  254.5 2.6 85.9 -9.5
Crude materials except fuels 2  118.1 -0.9  107.0 -1.3
Fuels 3  265.4 -4.0  187.7 -4.1
Manufactured goods except food. beverages and tobacco 5 - 9  222.5 -1.4 90.6 -3.4
Exports excl. crude oil and natural gas    219.0 -0.6 99.0 -2.6
1  Groups according to the Standard International Trade Classification (SITC-Rev. 3).

Moderate decrease in import prices

Import prices fell by 1.5 per cent from the 2nd quarter of 2002 to the 2nd quarter of 2003. This indicates a continuation of the decline in import prices, though a more modest one compared with the marked decrease in previous quarters. Prices fell in all the main groups; prices of fish down 6.4 per cent, mineral oil down 6.2 per cent, electrical machinery down 8.7 per cent, and clothing down 7.4 per cent.

The import volume index of traditional goods increased by 0.5 per cent compared with the corresponding quarter last year. This is mainly due to the higher imports of fuel, up 25.1 per cent, which is dominated by higher imports of electric current. Seasonally adjusted figures indicate only minor changes when compared with the 1st quarter, up 0.2 per cent.