Spanish Export and Import Prices Show Annual Decline in June 2023

The Spanish National Statistics Institute (INE) has released its latest report on export and import price indices for industrial products (IPRIX-IPRIM) in June 2023. The report shows a decline in both indices compared to the previous month, indicating a challenging economic situation.

Key Findings for June 2023:

  • Annual IPRIX: The annual rate of the IPRIX, which measures export prices of industrial products, stands at -2.7%. This represents a decrease of eight tenths compared to the rate recorded in May.
  • Annual IPRIM: The annual rate of the IPRIM, which measures import prices of industrial products, is -7.2%. This figure is nearly two and a half points lower than the rate reported in the previous month.

Annual Variation by Product Category:

  • General Index: The general index, which represents overall export and import prices, shows a decline of -2.7% for the IPRIX and -7.2% for the IPRIM.
  • Consumer Goods: Export prices for consumer goods have increased by 6.4% annually, while import prices rose by 0.7%.
  • Capital Goods: Export prices for capital goods experienced a 4.6% annual growth, and import prices showed a slightly higher increase of 4.7%.
  • Intermediate Goods: The export prices for intermediate goods recorded a decrease of -5.1%, and import prices declined by -3.5%.
  • Energy: The energy sector witnessed a significant decline in both export and import prices. Export prices dropped by -43.7%, while import prices fell by -34.8%.

The decline in the annual price indices reflects the ongoing challenges in the global economy and trade environment. The decrease in energy prices has notably impacted the overall indices, affecting both exports and imports.

The Spanish government and relevant authorities are closely monitoring these developments and are actively working on policies and strategies to support economic recovery and promote competitiveness in the international trade landscape.