July 5, 2022

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Air passenger transport suffers its biggest price increase in 13 years

Air passenger transport suffers its biggest price increase in 13 years

Air passenger prices increased by 8.5% in the first quarter compared to the same period in 2021, recording an increase Biggest year-over-year rise since the first quarter of 2009as reported Friday by the National Institute of Statistics (INE).

Of the fifteen service sector activities for which the National Institute of Statistics calculates price indices, two of them cut Year-on-year rate In the first trimester of pregnancy and thirteen increased her.

This was revealed through the services sector price index, which aims to provide quarterly indicators of price development Services offered to companies For each sector from a producer’s point of view.

On the side of annual increases, passenger air transport stands out by having Their prices varied by 8.5%, nearly 2.5 points above the previous quarter; The announcement raised its annual rate by 6.5 points to -2.5%.

The Only two activities reduce their rate on an annual basis It was market studies, which reduced its annual rate by about two points, to 2.1%, and information services, which reduced its prices by 1.3% in the first quarter, a rate less than twenty times from the previous quarter.

The surplus is rising

The surplus from the service sector 66.8% In the first quarter for the same period in 2021, it stands at 4985.8 million euros, after increasing its exports by more than 28%, according to the survey of international trade in services published on Friday by the National Institute of Statistics (INE). ).

Specifically, exports increased 28.1% year-on-year in the first quarter, to 20,112.8 million euros, while imports grew 19% year-on-year, to 15,127 million.

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The services that contributed the most to the recovery in exports in the first quarter were Transportation; Telecommunication, computer, information and business services.

Specifically, foreign sales in the transportation sector have reached 4,951 million, an increase of 25.3% compared to the first quarter of 2021, while those carried out by business services amounted to 6,637.1 million euros, an increase of 28.2%, and those of communications amounted to 3,137 million, an increase of 25.5% over the first quarter of this year. last year.

Between January and March No sector has had a negative contribution to service exports. Government goods and services recorded the lowest contributions, reaching 22.3 million (+ 128.4%); Construction, 214 million (+32.6%), and financial services, whose exports totaled 589.6 million euros, up 18.8% from the first quarter of 2021.

import contribution

On the other hand, the services with the largest positive contribution to the year-on-year import growth in the first quarter were those services Telecommunications2,237.2 million euros, an annual increase of 12.2%; Business services, with imports amounting to 5,237.7 million euros, a growth rate of 29.4%, and transportation, with 3738.8 million euros in imports, up 27%.

The sectors that presented the highest negative contributions The annual development of imports in the first quarter of the year was in insurance and pensions, which reduced its imports by 2.9% to 1671.1 million euros; Personal, cultural and leisure services, with imports amounting to 102 million (-0.7%), and construction, whose purchases from abroad decreased by 13.9% to 19.4 million euros.

As for the Geographical destination Of service exports, those destined to Europe amounted to 1,3070.9 million euros in the first quarter, while those destined to the European Union amounted to 8964.9 million euros. Within it, the number of Eurozone-bound visitors amounted to 8289.5 million euros.

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Finally, with regard to imports, those that have Origin in Europe It amounted to 11079.3 million euros, and the values ​​of the European Union and the eurozone were 8264.2 and 7523.9 million euros, respectively.