3.22% Quarterly decrease on IMUVI of fourth quarter 2023
2.68% annual decrease on IMUVI of fourth quarter 2023 compared with counterpart in 2022.
The Planning and Statistics Authority issued the updated index of import unit value (IMUVI) for the fourth quarter of 2023 which is the second issued used of year 2018 as based year. The IMVUI of fourth quarter reached 105.65 points showing a decrease by 3.22% when compared to third quarter-2023. Compared to counterpart in 2022 (Q4-2022), [Y-o-Y basis], a decrease of 2.68% has been recorded in the general index (IMUVI) of this quarter. IMUVI contains ten main groups classified based on Standard International Trade Classification. Table (1) and Graph (1) show the comparison of relative weights of the main groups included on IMUVI calculation 2013 & 2018, which seems no big difference between them, while table (2) show the quarterly and annual comparison for IMUVI for the fourth quarter of 2023.
Comparing Q4 of 2023 with the previous Quarter(Q3-2023):
An analysis [on Q-o-Q basis] of IMUVI of Q4- 2023 compared with IMUVI, Q3-2023, showed that there were eight main groups, where respective indices in this month have decreased, namely: “Crude materials, inedible, except fuels” by 6.77%, followed by “Manufactured goods classified chiefly by material” by 5.70%, “Animal and vegetable oils, fats and waxes” by 5.05%, “Chemicals and related products” by 4.39%, “Food and live animals” by 3.62%, “Miscellaneous manufactured articles” by 3.41%, “Mineral fuels, lubricants and related materials” by 2.18%, and “Machinery and transport equipment” by 1.70%. An increase has been recorded in “Commodities and transactions not classified elsewhere in SITC” by 4.57%, and “Beverages and Tobacco” by 0.25%.
Graphs (2) show the time series of quarterly IMUVI and quarterly change from Q4-2022 to Q4-2023, while graph (4) shows the IMUVI for the third quarter of 2023, and fourth quarter of 2023.
Comparing Q4 of 2023 with the counterpart in previous year (Q4-2022):
A comparison of IMUVI Q4-2023 with the IMVUI Q4-2022 (Annual Change), a decrease has been recorded in the general index (IMUVI), by 2.68%. This [Y-o-Y] value decreases primary due to the unite value rise in eight groups namely: “Animal and vegetable oils, fats and waxes” by 10.43%, followed by “Beverages and Tobacco” by 5.65%, “Miscellaneous manufactured articles” by 5.61%, “Manufactured goods classified chiefly by material” by 5.48%, “Food and live animals” by 5.32%, “Chemicals and related products” by 4.81%, “Mineral fuels, lubricants and related materials” by 2.61%, and “Crude materials, inedible, except fuels” by 2.21%. An increase has been shown in “Commodities transactions not classified elsewhere in SITC” by 14.49%, and “Machinery and transport equipment” by 0.43%.
. Graphs (3) shows the quarterly and annual change of IMUVI from Q4-2022 to Q4-2023.
