Index of Austria’s price competitiveness
The aggregate competitiveness index consists of four subindices calculated for manufactured goods, food, commodities and energy, and services. The index is based on geometric weighting, i.e. it represents the weighted geometric average of a basket of bilateral exchange rates, which yields the price competitiveness indicator when adjusted for the relative price indices (CPI). For the subindex for manufactured goods, the individual country weights are calculated on the basis of single (bilateral) import and double (multilateral) export weights. The other subindices are calculated on the basis of single (bilateral) import and export weights. The index base period is 1999 Q1 = 100, which is the base period established by the harmonized Eurosystem framework. The four subindices and the aggregate competitiveness index reflect trading relations with Austria’s 56 most important trading partners. The competitivenes index is calculated as a chained index.
Exchange rate, competitiveness.