This paper presents the methodology adopted by the Economics Department to calculate indices of effective exchange rates and indicators of competitiveness, based on unit labour costs and export unit values in the manufacturing sector. The calculation derives from a double-weighting system which first measures competition among all competitors of a given country on each of its markets, this competition being then weighted according to the relative importance of each of the markets of the country in question. These indicators are generally used to analyse trends in trade variables. In this paper, indicators of export market growth and export performance are also calculated and compared with the export competitiveness indicators ...
