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3. Trade unit value indices, by reporting country

Trade unit value indices, by reporting country

<p>Development of the unit value indices&nbsp;is presented using 2021 as reference year. Unit-values are basically the ratios between the trade value of the goods and the related goods quantity. These unit-values are divided by the average unit-value of the previous year to obtain elementary unit-value indices. The unit-value indices are chained back to the reference year (2015 = 100). The terms of trade are defined as the ratio between the index of export prices and the index of import prices.</p>