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Cheaper fuels led to lower export prices
statistikk
2007-05-21T10:00:00.000Z
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, Q1 2007

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Cheaper fuels led to lower export prices

Export prices of goods excluding ships and oil platforms fell by 2.7 per cent from the first quarter of 2006 to the first quarter of 2007. This is the second consecutive quarter with falling prices.

Revised figures

The figures for 2005 and 2006 have been revised.

Lower prices were recorded on fuels such as petroleum and petroleum products and electric current , down 8.7 per cent. From the fourth quarter of 2006, export prices excluding ships and oil platforms decreased by 1.1 per cent.

Price indices. 1 quarter 2002-1st quarter 2007. 2000=100

Volume indices adjusted for seasonality 2002-2007. 2000=100

On the other hand, export prices of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased in the first quarter of 2007 compared with the same quarter in 2006. The increase was 6.4 per cent, and was mainly due to higher prices of non-ferrous metals such as aluminium and copper. Prices of crude materials such as wood, lumber and cork increased by 21.3 per cent, whereas prices of metalliferous ores and metal scrap rose by 17.8 per cent. The weak US currency in the period does not seem to have influenced the development in export prices.

Higher exports of fish

The export volume of goods excluding crude oil, condensates, natural gas, ships and oil platforms increased by 6.7 per cent from the first quarter of 2006 to the first quarter in 2007. The 14.2 per cent increase in food exports explains most of the increase. Higher exports of fish offset the downward trend in dairy and eggs. Adjusted for seasonality, the figures show a minor increase of 0.7 per cent from the first quarter of 2007 compared with the fourth quarter of 2006.

Higher import prices on food

Import prices of goods excluding ships and oil platforms increased by 6.9 per cent in the first quarter of 2007 compared with the same quarter last year. Higher prices of crude materials such as wood, lumber and cork as well as metalliferous ores and metal scrap compensated for the downward trend in fuels, down 12 per cent. Prices of cereals increased by 7.2 per cent, while prices of vegetables and fruit increased by 8.0 per cent.

Higher imports of electric current

The import volume of goods excluding ships and oil platforms increased by 10.3 per cent from the first quarter of 2006 to the first quarter of this year. Imports were higher in all groups, but the largest increase took place in fuels such as electric current. Adjusted for seasonality, the figures also show a higher import volume from the fourth quarter of 2006. However, the 2.0 per cent increase was minor compared with the 6.5 per cent increase in the previous quarter.

External trade in commodities excl. ships and oil platforms. Indices of price and volume. 1 st quarter 2007
Commodity group1 Commodity SITC Volume Price
1 st quarter 2007 1 st quarter 2006 and 2007. Change in per cent 1 st quarter 2007 1 st quarter 2006 and 2007. Change in per cent
Imports          
Total 0-9  151.8 10.3  105.0 6.9
Of which          
Food, beverages and tobacco 0-1  128.4 8.3  113.5 7.6
Crude materials except fuels 2  145.0 6.9  146.4 54.1
Fuels 3  103.0 14.2  136.0 -12.0
Manufactured goods except food, beverages and tobacco 5-9  157.3 10.6 99.4 3.6
           
Exports          
Total 0-9  111.4 1.3  137.3 -2.7
Of which          
Food, beverages and tobacco 0-1  118.8 14.2  105.0 1.4
Crude materials except fuels 2  117.3 -2.5  113.6 11.0
Fuels 3  100.8 -2.2  151.7 -8.7
Manufactured goods except food, beverages and tobacco 5-9  139.3 8.4  115.4 14.1
Exports excl. crude oil and natural gas    132.1 6.7  116.5 6.4
1  Groups according to the Standard International Trade Classification (SITC-Rev. 3).