Manufactures Unit Value Index: Six Decades of Global Economic Shifts (1960–2024)

The "Manufactures Unit Value Index" (MUV) tracks the unit value of manufactured goods exported by fifteen major countries from 1960 to 2024.

During the 1970s, surging oil and commodity prices significantly increased manufactured product prices, a trend that continued into the early 1980s. In contrast, the commodity price surge of the 2000s had a milder effect on manufactured goods prices, largely due to China's emergence as a low-cost manufacturing powerhouse and global productivity gains.

Key events influencing the index are highlighted:

• Early 1970s: The collapse of the Bretton Woods system introduced increased volatility.

• 1973–74 Oil Crisis: A sharp rise in commodity prices drove the index upward.

• Early 1980s: A global recession slowed manufacturing growth.

• 1991: The end of the Cold War facilitated global market integration.

• 1995: The establishment of the WTO boosted global trade.

• 2008: The Global Financial Crisis caused a significant dip in the index.

• 2020: The COVID-19 pandemic disrupted trade but was followed by a rebound.

The MUV reflects major shifts in global trade dynamics, economic developments, and commodity price trends over more than six decades.