Comparing November 1996 with November 1995, the volume of re-exports increased by 9.1%, while that of domestic exports decreased by 4.6%. Taken together, the volume of total exports increased by 6.8%. Concurrently, the volume of imports increased by 7.1%.
The growth in volume of trade is derived from the growth in trade value with the effect of price changes discounted.
As regards price changes in the first 11 months of 1996 over the same period last year, the prices of re-exports decreased by 0.4%, while that of domestic exports increased by 0.4%. Import prices on the other hand decreased by 1.4%.
Comparing November 1996 with November 1995, the prices of re-exports and domestic exports decreased by 1.2% and 0.3% respectively. Import prices also. decreased, by 2.1%.
Price changes are reflected by changes in unit value indices which are compiled based on average unit values or, for certain commoditics, based on specific price data.
The terms of trade index, defined as the ratio of total export price index to import price index, recorded an increase of 0.9% in the first 11 months of 1996 over the same period last year.
The changes in the value, unit value and volume of re-exports by end-use category are shown in Table 1.
Analysed by end-use category, increases in re-export volume in November 1996 over a year earlier were recorded for all categories: capital goods (+22%); foodstuffs (+17%); raw materials and semi-manufactures (+11%); consumer goods (+2.2%); and fuels (+0.1%).
Over the same period of comparison, increases were recorded in the prices of re-exports of fuels (138%); and foodstuffs (+0.6%),
On the other hand, re-export prices of raw materials and semi-manufactures; capital goods; and consumer goods decreased by 3.1%, 2% and 0.5% respectively.
The changes in the value, unit value and volume of domestic exports by principal commodity group are shown in Table 2.