The Export Price Index (IPRIX) is a short-term indicator that measures the monthly evolution of the prices of industrial products manufactured in the domestic market and sold in the foreign market.
On the other hand, the Import Price Index (IPRIM) is a short-term indicator that measures the monthly evolution of the prices of industrial products coming from the rest of the world.
The Industrial Price Index of the aggregated domestic and non-domestic markets is obtained as a result of joining the Industrial Price Index (IPRI) and the IPRIX. This indicator measures the monthly evolution of the prices of industrial products manufactured on the domestic market and sold both in the domestic market and abroad.
Both the IPRIX and the IPRIM investigate the branches of mining and quarrying, manufacturing, and production and distribution of gas and electricity, corresponding respectively to sections B, C and D of the National Classification of Economic Activities (CNAE-2009).
The reporting unit is the establishment.
The IPRIX studies the monthly evolution of the prices of industrial products manufactured in the domestic market and sold in the foreign market, while the IPRIM studies the monthly evolution of the prices of industrial products coming from the rest of the world.
For the export price index, the target population is the set of establishments that manufacture industrial products and sell them on the non-domestic market.
In the case of import prices it is all establishments that import industrial products.
The geographical scope is the entire national territory, except for Ceuta and Melilla.
Information is calculated broken down by market, distinguishing the Euro Area from the Rest of the World.
The results of the survey are available from January 2005.
The base period or reference period of the index is 2015 (2015=100).
Prices reference period
This is the period against which current prices are compared, that is, the period chosen for the calculation of elementary indices.
With the calculation formula used for the IPRIX-IPRIM base 2015 – Laspeyres chained – the reference period of the prices varies every year and is the month of December of the year immediately preceding the one under consideration.
Reference period of the weights
This is the period to which is referred the data used to obtain the weights that serve as the structure of the IPRIX-IPRIM.
For the current year, in the case of the IPRIX, we have used information from the Structural Business Statistics: Industrial Sector for the branches of CNAE-09 and foreign trade data from Intrastat statistical declarations and the Single Administrative Document (DUA) for the products, updated with price information to reference them to December of the year immediately preceding the year under consideration.
On the other hand, to calculate the IPRIM weights, the information used for all levels comes from Intrastat and DUA data, also updated with price information as at December of the year immediately prior to the year under consideration.
The weightings are updated annually.
The indices are calculated as the quotient between the average price of the current month and the average price in December of the previous year (multiplied by 100). Thus, they do not have units.
All variations are calculated as a variation percentage.
The weight of a product or aggregate is the corresponding percentage that represents the value of the production of that product or aggregate over the value of the total production. The units used are so much per thousand.
The reference period of the data is the month, specifically the 15th.
Data referred to the period: Mensual A: 2019 MES: 01
The compilation and dissemination of the data are governed by the Statistical Law No. 12/1989 "Public Statistical Function" of May 9, 1989, and Law No. 4/1990 of June 29 on “National Budget of State for the year 1990" amended by Law No. 13/1996 "Fiscal, administrative and social measures" of December 30, 1996, makes compulsory all statistics included in the National Statistics Plan. The National Statistical Plan 2009-2012 was approved by the Royal Decree 1663/2008. It contains the statistics that must be developed in the four year period by the State General Administration's services or any other entity dependent on it. All statistics included in the National Statistics Plan are statistics for state purposes and are obligatory. The National Statistics Plan 2017-2020, approved by Royal Decree 410/2016, of 31 October, is the Plan currently implemented. This statistical operation has governmental purposes, and it is included in the National Statistics Plan 2017-2020. (Statistics of the State Administration).
The IPRIX and the IPRIM are subject to Council Regulation (EC) No. 1165/98 of 19 May 1998 concerning short-term statistics, which establishes the common framework for the production of Community statistics on the short-term evolution of the economic cycle.
The Spanish version of the European Union rules affecting this statistical operation is accessible at:
Both in the IPRIX and the IPRIM no information is provided on those branches that do not have a minimum number of informants.
Both the IPRIX and the IPRIM are disseminated monthly.
Press release, the day of publication.
Generic publications such as Spain in Figures, Statistical Yearbook of Spain and Monthly Statistical Bulletin contain information related to the IPRIX and the IPRIM.
The monographic publication Industry Overview also offers information on some survey results.
INEbase is the system the INE uses to store statistical information on the Internet. It contains all the information the INE produces in electronic formats. The primary organisation of the information follows the theme-based classification of the Inventory of Statistical Operations of the State General Administration . The basic unit of INEbase is the statistical operation, defined as the set of activities that lead to obtaining statistical results on a determined sector or subject based on the individually collected data. Also included in the scope of this definition are synthesis preparation.
The IPRIX and IPRIM online database, which contains information on indices and variations as well as weightings, is included in the section Industry, energy and construction of INEBase. The online database of the IPRI can be accessed via the following link: https://www.ine.es/dyngs/INEbase/en/operacion.htm?c=Estadistica_C&cid=1254736148943&menu=ultiDatos&idp=1254735576715
The number of consultations of data tables is AC1=102.679.
In the case of the IPRIX-IPRIM no microdata information is provided.
It is possible to request tailor-made information from the INE Information Area. Limitations on confidentiality or accuracy are taken into account when processing such requests.
The methodology of the index is available on the INE website, in the section Industry, energy and construction of INEBase.
The rate of completeness of metadata is AC3=100%.
The sections 10.6 to 17 of this document are the User-oriented Quality report for this statistics.
On the basis of Council Regulation (EC) No. 1165/1998, every three years the Commission will submit to the European Parliament and the Council a report on the relevance, quality and revision of short-term statistics indicators. The 2017 report is available at the following link:
Quality assurance framework for the INE statistics is based on the ESSCoP, the European Statistics Code of Practice made by EUROSTAT. The ESSCoP is made up of 16 principles, gathered in three areas: Institutional Environment, Processes and Products. Each principle is associated with some indicators which make possible to measure it. In order to evaluate quality, EUROSTAT provides different tools: the indicators mentioned above, Self-assessment based on the DESAP model, peer review, user satisfaction surveys and other proceedings for evaluation.
The Export and Import Price Indices for Industrial Products have a development process designed to control quality and validate data throughout the process. There are validation controls in the electronic questionnaire, a cleaning process in the collection units and a control from the promoter unit to guarantee the quality of the statistics.
In addition, the IPRIX and IPRIM are indicators of high statistical quality, which meet all the criteria of consistency, comparability, accuracy and timeliness. Its methodology follows the recommendations of the Export and Import Price Index Manual: Theory and Practice, published by the International Monetary Fund (IMF) and internationally endorsed.
The entry into force of base 2015, in January 2018, represents a methodological improvement, since the coverage of the branches studied has been extended and the basket of products and weights have been updated to improve representativeness. The indices continue to be chained so that changes can be made to the sample every year, ensuring that the indices are kept up to date.
The IPRIX and IPRIM are up to day indicators since they revise their methodological system permanently in order to improve it. Besides, they are dynamic, because annually they review the weights for certain levels of functional disaggregation and include in the shortest time any change detected in the market: the appearance of new products, changes in the production structure or in the sample of establishments. In addition, they establish the base changes every five years, carrying out a complete review of the methodology and the sample and the updating of weights at all levels of disaggregation.
Therefore, and thanks to the calculation methodology applied, they are indicators with a high representativeness.
Among the users of the survey are:
- Ministries and other public bodies.
- Territorial administrations (Autonomous Communities, City Councils...).
- Companies and institutions.
- Researchers and universities.
Among the different applications that these indicators have, we can highlight:
-Direct use as an indicator for the analysis of economic activity linked to foreign trade, provides information for monthly monitoring of prices of different product groups and geographical areas (Euro Area and Rest of the World Area). In addition, it is a useful tool for analysts or companies to analyse certain products or markets.
-Indirect use as a deflator, to convert data in value at current prices into data at constant prices, in foreign trade statistics and national accounts.
The INE has carried out general user satisfaction surveys in 2007, 2010, 2013 and 2016 and it plans to continue doing so every three years. The purpose of these surveys is to find out what users think about the quality of the information of the INE statistics and the extent to which their needs of information are covered. In addition, additional surveys are carried out in order to acknowledge better other fields such as dissemination of the information, quality of some publications...
On the INE website, in its section Methods and Projects / Quality and Code of Practice / INE quality management / User surveys are available surveys conducted to date.(Click next link)
The specific needs of users are taken into account whenever methodological revisions of the survey are carried out, in order to adapt the content of the survey to the specific requirements of its users, increasing their levels of satisfaction.
The IPRIX-IPRIM base 2010 took into account the requests for information made by users and began to publish data at a more disaggregated level of the CNAE 2009. The same level of disaggregation in the publication is maintained in the IPRIX-IPRIM base 2015.
For both the IPRIX and the IPRIM, indices are produced for all levels of the CNAE 2009, from 1 to 4 digits. For the IPRIX all the disaggregation is published while for the IPRIM only up to two digits.
The rate of mandatory statistical results available for both the IPRIX and the IPRIM, base 2015, is R1=100%.
The sample is designed by the cut-off method, so there are no sampling errors. As regards non-sampling errors, different survey processes are aimed at eliminating or reducing, as far as possible, said errors, both in the collection phase (response rate and cleaning control) and in subsequent editing and imputation phases.
No sampling errors are calculated for the IPRIX-IPRIM because the sample is based on non-probability methods (cut-off method)
The Export and Import Price Indices for Industrial Products have a very high response rate, around 93%.
In order to correct non-sampling errors such as non-response or changes in the characteristics of a company's products, estimations and quality adjustments are carried out.
The estimation of data is carried out applying to the price of the previous period the same variation that the rest of prices of the same product have. In case there is not enough data in the product to make the estimation, we apply the variation of the products of the same branch.
In 2018, the non-response rate corresponding to the year average is A4=6,3%, the item non-response rate is A5=22,47%, the rate of over-coverage is A2=4,40% and the imputation rate is A7=23,75%.
In accordance with the provisions of the Regulation, the deadline for transmission of data to Eurostat is 35 days after the end of the reference period for the IPRIX, and 45 days after the end of the reference period for the IPRIM.
This deadline is met, since the results of the IPRIX-IPRIM, at all disaggregation levels, are published one month and four days after the reference month, unless it is a holiday, in which case it is brought forward to the first previous working day. In this way, the timeliness of first results is TP1=1 month and 4 days and the timeliness of final results is TP2=4 months and 4 days.
The results of the survey are published according to the INE Short-term statistics publication calendar (http://www.ine.es/en/daco/daco41/calen_en.htm)
All IPRIX-IPRIM publications have been produced on the date announced in the publication calendar, therefore, the punctuality (time lag in the publication) is TP3=0.
The STS Regulation and the methodological guidelines applied by the countries ensure good comparability between national IPRIX-IPRIM data and European aggregates.
However, the data are not 100% comparable from one country to another, as this regulation does not harmonise either the collection methods (surveys can be conducted or administrative sources can be used) or the procedures for calculating the indices.
The Export and Import Price Indices for industrial products have been calculated since January 2005, and since then there has been a change in the classification used and two base changes have been carried out.
As of January 2009, we began to use the 2009 National Classification of Economic Activities (CNAE-2009), in accordance with Royal Decree 475/2007 of 13 April 2007. The indices are available from their beginning following the new classification.
In addition, in the base change, links have been made and the time series is comparable since its beginning, in January 2005. In this way, up to December 2018, the length of comparable time series is CC2=168.
The Export and Import Price Indices are consistent with the Industrial Price Index (IPRI), which measures the evolution of the prices of industrial products manufactured and sold in the domestic market, since they are designed in the same way and use the same calculation methodology.
Starting from base 2010, the union of the indicators (IPRI+IPRIX) began to be published, which measures the evolution of the prices of industrial products manufactured in Spain, regardless of whether these goods are destined for the domestic or non-domestic market.
The IPRIX-IPRIM are internally consistent. The aggregations are made from the lowest level of information to the highest, both by markets and functionally.
The estimated budget appropriation necessary to finance this statistic foreseen in the 2019 Annual Programme is 744,10 thousand euros.
With the purpose of significantly reducing the burden of reporting units, large companies that complete multiple surveys in the same year are attended from a special unit from which all their questionnaires are coordinated. In the modifications that are carried out in the sample the statistical burden of the reporting units is taken into account, in order not to overload the time they spend on their completion.
The INE of Spain has a policy which regulates the basic aspects of statistical data revision, seeking to ensure process transparency and product quality. This policy is laid out in the document approved by the INE board of directors on 13 March of 2015, which is available on the INE website, in the section "Methods and projects/Quality and Code of Practice/INE’s Quality management/INE’s Revision policy" (link).
This general policy sets the criteria that the different type of revisions should follow: routine revision- it is the case of statistics whose production process includes regular revisions-; more extensive revision- when methodological or basic reference source changes take place-; and exceptional revision- for instance, when an error appears in a published statistic-.
Both the IPRIX and IPRIM results can be reviewed within three months of their publication.
The differences that may occur between the provisional and final data are due to the unavailability of the data in the provisional publication, due to late receipt of the questionnaire. Changes in published data are outlined in the press release for your information.
In order to measure the degree of variation between the provisional and final results, the changes produced between the first and the final publication for the period between October 2015 and September 2018 are analysed (36 data).
- For the year-on-year IPRIX growth rate:
Mean absolute revision is MAR = 0.07
Relative mean absolute revision is RMAR = 3.10%
Mean Revision is MR = -0.02
- For the year-on-year IPRIM growth rate:
Mean absolute revision is MAR = 0.07
Relative mean absolute revision is RMAR = 1.87%
Mean Revision is MR = -0.01
The data used for the elaboration of the IPRIX-IPRIM are obtained by means of a survey of the establishments. The framework of the survey consists of all establishments that have produced and exported industrial products, in the case of export indices, or imported industrial products, in the case of import indices. The framework from which these establishments are obtained is the Foreign Trade database of the Tax Agency.
The criteria used to define which activities are part of the calculation of IPRIX and IPRIM, base 2015, are the following: for the national group, the classes (4 digits CNAE-09) that exceed 0.1% of the total turnover of industry are included, and for the markets (euro area and non-euro area), the divisions (2 digits CNAE-09) that exceed 1.0% of the total turnover of the industry of each market (according to the data from the Structural Business Statistics: industrial sector and from Customs for the year 2015).
In the IPRIX, base 2015, approximately 14,000 prices of 1,700 products are collected each month in a sample of nearly 3,800 industrial establishments.
On the other hand, in the IPRIM, base 2015, around 18,000 prices of 2,100 products are collected monthly in approximately 4,700 establishments.
The prices are collected once a month and refer to the prevailing price on the 15th day of the reference month.
The collection of prices for the IPRIX and IPRIM is carried out by means of a questionnaire to the industrial establishments that form part of the sample. Most of the respondents (80%) complete the questionnaires through IRIA (Data Collection Application via Internet), the rest send them completed by e-mail, fax, telephone or regular mail.
The questionnaire lists the products for which the industrial establishment must provide the price, with a detailed description of their characteristics, allowing the company to identify the exact product.
In each collection unit, it is verified that all the information requested in the questionnaire is completed and that the incidents related to companies, establishments, sub-variety and prices are conveniently justified and explained. This is followed by a centralised cleaning in order to detect possible errors or unjustified price variations.
- Data checking
As a general rule, for any anomaly detected in the sub-varieties or their prices during the validation process, the respondent is contacted again for its justification or correction, in case the characteristics (both physical and commercial) or the measurement unit of the sub-varieties have changed.
- Index Compilation
First, elementary indices are compiled as the quotient of the geometric average of the prices collected in the month between the prices collected in December of the previous year.
Subsequently, elementary indices are aggregated using a weighted arithmetic mean.
The main sources of the IPRIX weights are the Structural Business Statistics: industrial sector and foreign trade data from Intrastat statistical declarations and the Single Administrative Document (DUA). On the other hand, the IPRIM only uses as a source for the weightings the Intrastat and DUA data.
There are weights for each product within each market (euro area - rest of the world).
- Treatment of missing items
When occasionally the price of the product has not been reported, the company is contacted to see if they can estimate the price that the operation would have had.
In case this is not possible, its price is estimated from the variations of the rest of the prices of that product or its corresponding branch.
- Treatment of replacement products
When a sub-variety disappears, the respondent is contacted to find out the temporary or permanent nature of this incident, and if the disappearance is permanent, an attempt is made to replace it with another of the same product.
If the establishment does not have a substitute for the product, an attempt is made to find another establishment that provides information.
- Adjustments for quality change in the IPRIX-IPRIM
When there is a change in the specifications of one sub-variety or the sub-variety disappears and is replaced by another one, an adjustment must be made to determine what part of the price difference between the two sub-variety is due to a different quality between them.
In general terms, estimated prices are used to make this adjustment. This method involves the estimation of a relative price change as the average price change of the aggregate that contains the sub-variety (product or branch).
No seasonal adjustment is applied.