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Term
Unit value index
Description Value at the level of a single, homogeneous good or service is equal to the price per unit of quantity multiplied by the number of quantity units. It is independent of the choice of quantity unit. The Laspeyres's unit value index is the average transaction price of a unit. (United Nations and others, 1994, paras. 16.9 and 16.13)
Source United Nations (1994). Commodity Indexes for the Standard International Trade Classification, Revision 3. Statistical Division, Series M, No. 38, Rev. 2 (United Nations publication, Sales No. E.94.XVII.10).
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