The National Planning Council has released Quarterly Export Unit Value Index (EXUVI) for the First quarter of 2024 based on 2018, as a new chain added to statistical indicators calculated by General Secretariat of the National Planning Council. The importance of this indicator comes 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 is also one of the requirements of the plan of The National Planning Council in providing accurate statistical information and data that support the decision-maker. Standard International Trade Classification Index (SITC4) is 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. 

 In this quarter the Export unite value index (Q1-2024) decreased by 5.93%, when compared to the previous quarter (Q4-2023), also when compared it with its counterpart in the previous year (Q1-2023) decreased by 21.54%. 

An analysis [on Q-o-Q basis] of EXUVI for Q1 2024 compared with EXUVI, Q4-2023, showed that there were four main groups, where respective indices in this month have decreased, namely: “Mineral fuels, lubricants and related materials” by 6.69%, followed by “Machinery and transport equipment” by 2.74%, “Food and live animals” by 1.48%, and “Miscellaneous manufactured articles” by 0.81%. An increase has been recorded in “Manufactured goods classified chiefly by material” by 2.49%, “Beverages and Tobacco” by 0.82%, and “Chemicals and related products” by 0.12%. Groups that remained unchanged during this quarter, “Crude materials, inedible, except fuels”, “Animal and vegetable oils, fats and waxes”, and “Commodities and transactions not classified elsewhere in SITC”.

A comparison of EXUVI Q1-2024 with the EXVUI Q1-2023 (Annual change), a decrease has been recorded in the general index (EXUVI), by 21.54%. This [Y-o-Y] value decreases primary due to the unite value decreasing in six groups namely: “Mineral fuels, lubricants and related materials” by 22.77%, followed by “Chemicals and related products, N.E.C” by 13.43%, “Miscellaneous manufactured articles” by 7.98%, “Beverages and Tobacco” by 3.68%, “Manufactured goods classified chiefly by material” by 0.81%, and “Machinery and transport equipment” by 0.02%. An increase has been shown in “Commodities and transactions not classified elsewhere in SITC” by 12.27%, “Food and live animals” by 10.43%, “Crude materials, inedible, except fuels” by 0.14%. There was no change in “Animal and vegetable oils, fats and waxes“. 

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