(MENAFN- Arab Times) The overall export unit value index declined by 9. 3 percent in 2014, compared to the preceding year, according to the Central Statistical Bureau. As compared with the corresponding quarter of the preceding year, the overall export unit value index decreased by 27.3 percent in fourth quarter of 2014, the bureau told KUNA on Monday.
In the same quarter, compared to 2013, both the index for "fuel" and "non-fuel products" decreased by 28.9 percent and 2.1 percent respectively, the bureau said, adding in 2014, comparing to 2013, overall import unit value index fell by 4.4 percent.
As compared to the corresponding quarter of the preceding year, the overall import unit value index decreased by 11.1 percent in fourth quarter of 2014, it made clear.
While the index for "food, beverages and tobacco" increased by 0.6 percent, "crude materials" and "manufactured goods (except food, beverages and tobacco)" decreased by 17.9 percent and 13.0 percent respectively as compared with the corresponding quarter of the preceding year, the bureau said.
The overall export volume index went down by 2.2 percent in 2014 comparing to previous year, it said, adding that the overall import volume index increased by 12.8 percent in 2014.
As compared to the corresponding quarter of the preceding year, the overall import volume index increased by 23.8 percent in fourth quarter of 2014, the bureau noted. The overall import volume index rose by 23.9 percent in the first quarter of 2014 compared to the same period of 2013, it pointed out.
In 2014, terms of trade was 116.9, while it was 132.5 in 2011 because of decreasing of oil prices during 2014, it said, adding by quarters in 2014, the range of terms of trade was between 120.8 and 98.7. In September-December 2014, it became the lowest level (98.7) Terms of trade refers to the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It is a measure of how much imports an economy can get for a unit of export goods.
Foreign Trade Indices with the base year 2010=100 is calculated as a result of 2007=100 base year index was outdated due to the developments in economy, quality differences have occurred among the products, weights of economic activities have changed.
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