Competitive Position of the Industrial Sector
The Competitive Position of the Industrial Sector is analysed based on the following indices:
- Price Competitiveness Index
- Revealed Competitiveness Index
The Price Competitiveness Index is defined as the product of the exchange rate of the euro multiplied by a relative price index of Catalan manufactures, in accordance with section C of the Catalan Classification of Economic Activity 2009 (CCAE-2009). An increase in prices in the Competitiveness index is interpreted as the loss of competitiveness of Catalan manufactures in relation to rival countries and markets.
The Revealed Competitiveness Index is defined as the export market share of manufactures, in accordance with sections 5 and 8 of the Standard International Trade Classification, Revision 3 (SITC-Rev.3) in each of the countries concerned. Contrary to what occurs with the Price Competitiveness indicator, an increase in the Index of Revealed Competitiveness must be interpreted as an improvement in the competitive position.
Idescat and the Ministry of the Vice-presidency and of Economy and Finances produce quarterly indexes based on international sources (IMF, Eurostat, ECB and others).