XN000022-1986-05-05 — Page 9

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MONDAY, MAY 5, 1986

PRICE, VOLUME MOVEMENTS OF FEBRUARY EXTERNAL TRADE

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STATISTICS RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT INDICATE THAT THE VOLUME OF DOMESTIC EXPORTS AND RE-EXPORTS DECLINED BY EIGHT PER CENT AND SIX PER CENT RESPECTIVELY IN THE FIRST TWO MONTHS OF 1986 AS COMPARED WITH THE SAME PERIOD LAST YEAR. THERE WAS, THEREFORE, AN OVERALL DECREASE OF SEVEN PER CENT IN THE VOLUME OF TOTAL EXPORTS.

HOWEVER, IMPORTS INCREASED BY THREE PER CENT IN VOLUME TERMS. ON THE SAME BASIS OF COMPARISON, THE PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS AND ALSO THOSE OF TOTAL EXPORTS REMAINED UNCHANGED.

PRICES OF IMPORTS, ON THE OTHER HAND, ROSE BY TWO PER CENT. AS A RESULT, THE TERMS OF TRADE INDEX (EXPRESSED AS A RATIO OF THE TOTAL EXPORT PRICE INDEX TO THE IMPORT PRICE INDEX) DROPPED BY TWO PER CENT.

PRICES ARE BASED ON UNIT VALUES WHICH DO NOT TAKE INTO ACCOUNT CHANGES IN THE COMPOSITION OR QUALITY OF GOODS TRADED, EXCEPT FOR SOME SELECTED COMMODITIES FOR WHICH SPECIFICATION PRICE INDEXES ARE COMPILED. THE VOLUME OF TRADE IS DERIVED FROM TRADE VALUES BY DISCOUNTING THE EFFECT OF PRICE CHANGES.

AS TRADE FIGURES FOR THE BEGINNING MONTHS OF A YEAR TEND TO BE MORE SIGNIFICANTLY AFFECTED BY SEASONAL FACTORS, IT IS MORE USEFUL TO CONSIDER FIGURES COVERING A LONGER PERIOD. COMPARING THE THREE MONTHS ENDING FEBRUARY 1986 WITH THE THREE MONTHS ENDING FEBRUARY 1985, THE VOLUME OF DOMESTIC EXPORTS DECREASED BY TWO PER CENT,

WHILE THAT OF RE-EXPORTS DECREASED BY ONE PER CENT, SO THAT FOR TOTAL EXPORTS, A DECREASE OF TWO PER CENT WAS RECORDED IN VOLUME TERMS.

THE VOLUME OF IMPORTS, HOWEVER, ROSE BY FIVE PER CENT. ON THE SAME BASIS OF COMPARISON, PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS BOTH DROPPED BY ONE PER CENT, WHILE IMPORT PRICES ROSE BY ONE PER CENT.

EXTENDING THE PERIOD OF COMPARISON TO THE 12 MONTHS ENDING FEBRUARY 1986 WITH THE 12 MONTHS ENDING FEBRUARY 1985, THE VOLUME OF DOMESTIC EXPORTS DECREASED BY EIGHT PER CENT, WHILE THAT OF RE-EXPORTS INCREASED BY 17 PER CENT, GIVING AN INCREASE OF TWO PER CENT IN THE VOLUME OF TOTAL EXPORTS.

THE VOLUME OF IMPORTS ROSE BY FIVE PER CENT. OVER THE SAME PERIOD, PRICES OF RE-EXPORTS REMAINED UNCHANGED, WHILE THOSE OF DOMESTIC EXPORTS DROPPED BY ONE PER CENT AND OF IMPORTS DROPPED BY TWO PER CENT,

/THE CHANGES