Geostat Started Publication of Foreign Trade (Export/Import) Unit Value Indices (UVI)

Date: 13 October 2021

National Statistics Office of Georgia started publication of the data on Foreign Trade (Export/Import) Unit Value Indices (UVI).

Development of Foreign Trade (Export/Import) UVI is one of the activities defined by the National Strategy for the Development of Official Statistics of Georgia 2020-2023.

The production of Export-Import UVI is set out in the 2021-2023 Action Plan for the Implementation of the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union.

In addition, the production of Foreign Trade (Export/Import) UVI is one of the sub-components of EU-funded „Twinning“ project - Strengthening the capacity of the Georgian Statistical System.

The Unit Value Index expresses the change is in the values of imported and exported goods, which are caused by changes in unit values. In addition to changes in the value per. unit as a result of actual price changes, the unit value index is also affected by volume shifts as well as by quality changes of the individual goods.

Foreign Trade Unit Value Indices are actively used in the compilation process of the System of National Accounts (SNA). In particular, Export-Import UVI are used as one of the methods of deflating foreign trade indicators to compile Gross Domestic Product (GDP) by categories of use and Supply and Use (SUT) tables at constant prices.

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