External trade in goods, indices of volume and price, Q4 2003

Export prices of traditional goods increased as well for the second quarter in a row since the 1^{s t} quarter in 2001. The increase by 1.3 per cent is mainly due to higher prices of fuels, up 6.3 per cent.

The index of import prices of traditional goods increased by 3.7 per cent from the fourth quarter of 2002 to the fourth quarter of 2003. Prices of crude materials increased by 8.9 per cent. This growth as well as the higher price level in all the other main groups, compensated for the downward trend in fuels, down 10.5 per cent.

Volumes

Adjusted for seasonality the import volume figures show lower imports for the first time since the second quarter of 2002. Imports decreased by 1.0 per cent from the third quarter in 2003. Compared with the corresponding quarter in 2002 the import volume figures show an increase as well, up 1.6 per cent. Higher imports of food, beverages and tobacco, up 6.9 per cent, compensated for the lower imports of fuels, down 5.1 per cent.

Compared with the corresponding quarter in 2002 the export volume index of traditional goods increased by 5.5 per cent. The export volume index for goods excluding ships and oil platforms decreased by 2.0 per cent. This is mainly due lower exports of fuels, down 5.0 per cent, like gas, natural and manufactured, as well as electric current. Compared with the rather strong decrease of 3.9 per cent in the third quarter of 2003 figures adjusted for seasonality show no change from the third quarter of 2003.

Moderate increase in import prices

The index of import prices of traditional goods increased by 1.5 per cent compared with the third quarter of 2002. This is a more modest increase compared with the increase by 2.6 per cent in the third quarter of 2003. Prices of fish, beverages and tobacco, power generating machinery and equipment, electrical machinery as well as furniture are higher. Import prices are still low despite the growth since the second quarter of 2003.

Tables:

• Table 1 External trade in commodities excl. ships and oil platforms. Indices of price and volume. 4th quarter 2003