ALGIERS- Export prices of goods in dinars, including hydrocarbons, recorded a drop of 14.3% during the first quarter of 2020 and compared to the same period in 2019, when import prices showed a slight increase of 1.3%, the National Statistics Office (ONS) told APS.
The drop in the Unit Values Index (IVU) for the export of goods (export price) is mainly explained by a drop of 14.8% in hydrocarbon prices and also a drop in the prices of exports of non-hydrocarbon products (PHH) by 8% during the same comparison period, according to the Office.
The fall in the export prices of goods, dominated by hydrocarbons, which represented 92.40% of total Algerian exports during the first three months of the current year, is mainly due to the fall in international oil prices , specified a publication of the ONS on the unit value indices of the foreign merchandise trade in the 1st quarter of 2020.
Algerian exports fell by 27% to total DA 814.5 billion in the first three months of the current year against DA 1.116.5 billion in the same period of the previous year, detailed the same source.
Imports amounted to 1.099.3 billion DA in the first quarter of 2020 against 1.344.5 billion DA during the same period in 2019, thus, recording a drop in current values of 18.2%.
The upward trend (1.3%) in the import price index, was mainly driven by fatty oils and waxes of animal or vegetable origin (+ 13.8%), machinery and transport equipment (+ 6.2%), drinks and tobacco (+ 3.4%) and food products and live animals with (+ 2.3%).
In addition, other product groups have experienced reductions in their import prices.
These include, in particular, commodity groups of inedible raw materials, except fuels (-11%), mineral fuels, lubricants and related products (-3.9%) and finally chemicals and related products (- 2.8%).
These recorded developments have led to a “widening” of the trade deficit which goes from 228 billion DA in the 1st quarter of 2019 to 284.8 billion DA in the same period 2020.
During the whole of 2019, the export prices of goods in dinars decreased by 7.3%, compared to 2018, while the import prices posted a slight increase of 0.9%.
The Office pointed out that the data for the first three months of the current year, as well as those for 2019 are provisional.