Price of exports decrease but price of imports increase in fourth quarter of 2022

For the fourth quarter of 2022, that is from October 2022 to December 2022, Bhutan saw a decrease in the price of exports while there was an increase in the price of the imports according to the report published by National Statistics Bureau (NSB).

Year-on-year inflation of the export goods further slowed down during the fourth quarter of 2022, with a 6.18% decrease compared to the fourth quarter of 2021.

In comparison to the fourth quarter of 2021, prices for food and drink, mineral goods, cement, and energy, as well as chemicals, plastics, textiles, and apparel, all climbed. Wood, pulp, and paper, as well as basic metals and other manufactured goods, saw a decline in price.

Food and beverage costs rose by 1.24%, cement, energy, and mineral product prices by 3.84%, while the cost of chemicals, plastics, textiles, and clothing rose by 28.91%. In comparison to the last quarter of 2021, the export prices of base metals and other manufactured goods fell by 28.04 percent, while those of wood pulp and paper fell by 6.98%.

Quarter on quarter price recorded a decrease by 1.31%. The majority of the decline was driven by decrease in price of food and beverages by 9.36% and base metals and other manufacturers by 6.76%.

However, prices of chemicals, plastics, textiles and apparel; and mineral products, cement and electricity increased in fourth quarter by 3.78% and 1.91% respectively. The prices for wood, pulp and paper also increased by 4.04 percent. The year-on-year inflation rate of imported goods recorded an increase of 12.68% in the fourth quarter of 2022 as compared to the fourth quarter of 2021.

All groups within the import category recorded an increase, except for metals and metal articles which recorded a decrease of 0.18%. Mineral products, cement and electricity recorded an increase of 19.63%.

Chemicals, plastics, textiles, and clothing all saw increases of 21.46%, while wood, pulp, and paper saw increases of 15.51%. Food and beverages saw a gain of 1.79%, machines, appliances, and other manufactured goods all saw increases in price of 22.53% and 11.78%, respectively.

The quarter-on-quarter import decreased by 0.38% which was a decline in the rate by 1 percentage point. Mineral goods, cement, and power, which all had declines of 3.38% and 1.78%, respectively, in compared to the previous quarter, were the main contributors to the decline.

Food and beverages saw a 2.76% fall as well. Chemical, plastic, textile, and clothing prices all dropped by 1.25%. Prices rose by 3.53%, 3.10%, and 1.86%, respectively, for the three remaining categories of transport equipment, machinery, appliances, and other manufactured goods, and wood, pulp, and paper.

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