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The terms of trade index, defined as the ratio of total export price index to import price index, decreased by 0.9% in the first nine months of 1994 over the same period last year.
Comparing September 1994 with September 1993, the volume of re-exports continued to increase markedly, by 15% while that of domestic exports remained virtually unchanged. Taken together, the volume of total exports increased by 12%. Meanwhile, the volume of imports grew by 20%.
Over the same period of comparison, the prices of re-exports and domestic exports increased by 1.9% and 1.4% respectively. Import prices increased by 2.8%.
The changes in the value, unit value and volume of re-exports by end-use category are shown in Table 1.
Comparing September 1994 with September 1993, the volume of re-exports of most end-use categories recorded increases of various magnitudes: raw materials and semi-manufactures (+27%), capital goods (+26%), foodstuffs (+22%) and consumer goods (+6.7%). The volume of re-exports of fuels, however, decreased by 16%.
Over the same period of comparison, the prices of re-exports of all end-use categories increased: capital goods (+2.9%), foodstuffs (+2.3%), raw materials and semi-manufactures (+2.2%), consumer goods (+1.5%) and fuels (+1.4%).
The changes in the value, unit value and volume of domestic exports by principal commodity group are shown in Table 2.
Comparing September 1994 with September 1993, commodity groups which recorded increases in volume of domestic exports included textile made-ups and related articles (+42%); footwear (+27%); metal ores and scrap (+26%); and textile yarn and thread (+22%).
On the other hand, the volume of domestic exports of radios of all kinds decreased markedly by 57%.
Commodity groups which recorded increases in domestic export prices included textile made-ups and related articles (+12%); and electronic components (+3.5%).
Decreases in domestic export prices were however recorded for footwear (- 5.4%) and radios of all kinds (-1.9%).
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