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Manufactures Unit Value Index (MUV)

The Manufactures Unit Value Index (MUV) index is a measure of the price of developing country imports of manufactures in U.S. dollar terms. The Development Prospects Group produces regular updates of the MUV, timed to coincide with economic projections accompanying Global Economic Prospects and commodity price forecasts.

The MUV is a composite index of prices for manufactured exports from the fifteen major developed and emerging economies to low- and middle-income economies, valued in U.S. dollars. For the MUV (15) index, unit value indexes in local currency for each country are converted to U.S. dollars using market exchange rates and are combined using weights determined by the share of each country’s exports in G15 exports to low- and middle-income countries. The shares are calculated using SITC revision 3 Manufactures exports data from UN COMTRADE in 2005, the base year. The primary manufacturing prices index source is OECD’s Domestic Producer Price Index (PPI) for manufacturing. Whenever PPI is not available, export price indexes or the export unit values are used as proxies. The countries and relative weights (in parentheses) are: Brazil (2.95%), Canada (0.93%), China (11.79%), France (5.87%), Germany (13.29%), India (1.77%), Italy (6.07%), Japan (16.70%), Mexico (0.93%), South Africa (0.75%), South Korea (10.95%), Spain (2.30%), Thailand (2.51%), United Kingdom (3.50%), and United States (19.68%).

This MUV (15) replaces an earlier version, the MUV (5) index, which was based on the export prices of the following 5 countries: France, Germany, Japan, United Kingdom, and United States. Data prior to 1990 are based on the MUV (5), with the longer time series reflecting a splice of the two series.

The World Bank publishes forecasts for the MUV (15) as well. The forecasts apply to the same time horizon and frequency as the commodity price forecasts.

The most recent file contains historical data from 1960 with projections through 2025.

The latest release of the MUV index is provided below:

For previous versions, go to the MUV Archive »

Last updated: 2009-01-28

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