The Planning and Statistics Authority (PSA) has released Quarterly Export Unit Value Index (EXUVI) for the Second quarter of 2022 based on 2018, as new chain added to statistical indicators calculated by PSA.
The importance of this indicator come from in which can monitors a changes of a unit value of export goods and reflect the economy status of the country.
The release of this indicator also one of the requirements of the plan of the Statistics and Planning Authority in providing accurate statistical information and data that support the decision-maker.
Standard International Trade Classification Index (SITC4) are used in calculating this indicator, which is classified the data into ten main groups contain 56 commodities classified according to the Harmonized System (HS). Each main group have relative weights depends on its value on the base year 2018. The highest relative weight was for “Mineral fuels, lubricants and related materials” 88.77%, the second position was for “Chemicals and related products, n.e.s” with 8.04%, and the third position was for “Manufactured goods classified chiefly by material” with 2.63%. These three groups together make about 99.5% of the EXUVI basket.
Details on Export Unite value Index (EXUVI):
One of the most important features of EXUVI index in this period (Q2-2022), was its increase by 4.79%, when compared to the previous quarter (Q1-2022), also when compared it with its counterpart in the previous year (Q2-2021), it increased by 50.55%.
Comparing Q2 of 2022 with the previous Quarter (Q1-2022):
An analysis [on Q-o-Q basis] of EXUVI for Q2- 2022 compared with EXUVI, Q1-2022, showed that there were five main groups, where respective indices in this month have increased, namely: “Mineral fuels, lubricants and related materials” by 5.03%, followed by “Commodities and transactions not classified elsewhere in SITC” by 4.51%, “Chemicals and related products” by 3.86%, “Manufactured goods classified chiefly by material” by 0.46%, and “Beverages and Tobacco” by 0.44%. A decrease has been recorded in “Machinery and transport equipment” by 7.85%, followed by Food and live animals” by 4.17%, “Miscellaneous manufactured articles” by 3.91%, and slightly decrease in “Crude materials, inedible, except fuels” by 0.04%. No change noticed in “Animal and vegetable oils, fats and waxes”.
Comparing Q2 of 2022 with the counterpart in previous year (Q2-2021):
A comparison of EXUVI Q2-2022 with the EXVUI Q2-2021 (Annual change), an increase has been recorded in the general index (EXUVI), by 50.55%. This [Y-o-Y] value increases primary due to the unite value rising in seven groups namely: “Mineral fuels, lubricants and related materials” by 53.91%, followed by “Chemicals and related products, N.E.C” by 32.39%, “Machinery and transport equipment” by 22.79%, “Manufactured goods classified chiefly by material” by 21.53%, “Animal and vegetable oils, fats and waxes” by 19.82%, “Miscellaneous manufactured articles” by 6.55%, and “Beverages and Tobacco” by 2.95%. A decrease has been shown in “Commodities and transactions not classified elsewhere in SITC” by 10.67%, “Food and live animals” by 9.51% and slightly decrease in “Crude materials, inedible, except fuels” by 0.04%.
