XN000022-1995-03-09 — Page 11

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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 1.5% and 1.6% respectively. Import prices increased by 2.8%.

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 1.3% in 1994.

Comparing December 1994 with December 1993, the volume of re- exports increased by 8.1%, while that of domestic exports decreased by 4.6%. Taken together, the volume of total exports increased by 5.3%. Meanwhile, the volume of imports grew by 10%.

Over the same period of comparison, the prices of re-exports and domestic exports increased by 3.6% and 2.0% respectively. Import prices. increased by 5.4%.

The changes in the value, unit value and volume of re-exports by end-use category are shown in Table 1.

Comparing December 1994 with December 1993, the volume of re- exports of all end-use categories recorded increases of various magnitudes: foodstuffs (+36%), fuels (+17%), raw materials and semi-manufactures (+14%), capital goods (+9.1%) and consumer goods (+3.3%).

Over the same period of comparison, increases in the prices of re-exports were noted of raw materials and semi-manufactures (+6.4%), foodstuffs (+3.3%), consumer goods (+2.8%) and capital goods (+2.7%). The prices of re- exports of fuels however decreased by 2.6%.

The changes in the value, unit value and volume of domestic exports by principal commodity group are shown in Table 2.