The Planning and Statistics Authority (PSA) has released the new Quarterly Export Unit Value Index (EXVUI) for the first 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 (Q1-2022), was its increase by 6.76%, when compared to the previous quarter (Q4-2021), also when compared it with its counterpart in the previous year (Q1-2021), it increased by 61.05%.
Comparing Q1 of 2022 with the previous Quarter (Q4-2021):
An analysis [on Q-o-Q basis] of EXUVI for Q1- 2022 compared with EXUVI, Q4-2021, showed that there were seven main groups, where respective indices in this month have increased, namely: “Manufactured goods classified chiefly by material” by 11.48%, followed by “Mineral fuels, lubricants and related materials” by 7.59%, “Miscellaneous manufactured articles” by 5.73%, “Beverages and Tobacco” by 2.5%, Food and live animals” by 1.53%, “Commodities and transactions not classified elsewhere in SITC” by 1.2%, and “Machinery and transport equipment” by 0.5%. A decrease has been recorded in “Chemicals and related products” by 1.81%, and no change is noticed in “Crude materials, inedible, except fuels” and “Animal and vegetable oils, fats and waxes”.
Comparing Q1 of 2022 with the counterpart in previous year (Q1-2021):
A comparison of EXUVI Q1-2022 with the EXVUI Q1-2021 (Annual change), an increase has been recorded in the general index (EXUVI), by 61.05%. This [Y-o-Y] value increases primary due to the unite value rising in eight groups namely: “Mineral fuels, lubricants and related materials” by 63.66%, followed by “Chemicals and related products, N.E.C” by 48.3%, Manufactured goods classified chiefly by material” by 39.04%, “Animal and vegetable oils, fats and waxes” by 29.12%, “Miscellaneous manufactured articles” by 26.79%, “Machinery and transport equipment” by 3.41%, “Beverages and Tobacco” by 2.5%, and “Crude materials, inedible, except fuels” by 0.55%. A decrease has been shown in “Commodities and transactions not classified elsewhere in SITC” by 7.89%, and in “Food and live animals” by 3.23%.
