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The growth in the volume of trade is derived from the growth in trade values with the effect of price changes being discounted.
As regards price changes over the same period of comparison, the prices of re- exports and domestic exports increased by 3.1% and 1.8% respectively. Import prices increased by 5.2%.
Price changes are reflected by changes in unit value indices, which are compiled based on average unit values or, for certain commodities, based on specific price data.
The terms of trade index, defined as the ratio of total export price index to import price index, decreased by 2.2% in the first two months of 1995 over the same period last year.
Caution should be exercised in interpreting the changes in the volume of trade for a single month at the beginning of each year which may be affected by the timing of the Lunar New Year holidays. It is more meaningful to make comparisons over a longer period.
The changes in the value, unit value and volume of re-exports by end-use category are shown in Table 1.
Comparing February 1995 with February 1994, the volume of re-exports of most of the end-use categories recorded increases of various magnitudes: fuels (+66%), capital goods (+38%), raw materials and semi-manufactures (+36%), and foodstuffs (+7.9%).
2.5%.
On the other hand, the volume of re-exports of consumer goods decreased by
Over the same period of comparison, increases in the prices of re-exports were noted of all end-use categories: fuels (+8.4%), raw materials and semi-manufactures (+7.8%), foodstuffs (+2.3%), consumer goods (+2.3%) and capital goods (+0.4%).
The changes in the value, unit value and volume of domestic exports by principal commodity group are shown in Table 2.
Comparing February 1995 with February 1994, commodity groups which recorded increases in volume of domestic exports included electronic components (+39%); metal ores and scrap (+16%); and textile yarn and thread (+11%).