Export and import price indices - December 2014

In December 2014, export prices decreased by 0.6%, import prices by 1.1%, the terms of trade figures reached 100.5%, m-o-m. Export prices decreased by 1.1%, import prices by 1.9%, the terms of trade reached 100.8%, year-on-year.
Export prices increased by 3.5%, import prices rose 1.9%, terms of trade reached 101.6%, year 2014 average compared to year 2013 average.

Month-on-month comparison:

Exports: export prices fell 0.6% in December (+0.3% in November). The change of the total
m-o-m export price index was driven mainly by a 0.4% price drop in ‘machinery and transport equipment’. Biggest price drop was registered in ‘mineral fuels, lubricants and related materials’ (-5.2%), ‘food and live animals’ (-1.8%) and ‘chemicals and related products’ (-1.6%). Prices of ‘beverages and tobacco’ and ‘manufactured goods classified chiefly by material’ rose 7.6% and 0.2%, respectively.

Imports: import prices decreased by 1.1% in December (no change in November). The change of the total m-o-m import price index was driven mainly by a 8.1% price drop in ‘mineral fuels, lubricants and related materials’. Prices of ‘crude materials, inedible, except fuels’ and ‘chemicals and related products’ fell 1.2% and 1.0%, respectively. Prices of ’miscellaneous manufactured articles’ did not change. Only price growth occured in .‘machinery and transport equipment’ (+0.1%).

The terms of trade figures increased to 100.5% (100.3% in November). Among important sections, prices of ‘mineral fuels, lubricants and related materials’ (103.2%), ‘crude materials, inedible, except fuels’ (100.4%) and ‘manufactured goods classified chiefly by material’ (100.3%) reached positive values. Prices of ‘food and live animals’ stood at lowest negative values of the terms of trade (98.5%).

Year-on-year comparison:

Exports: export prices decreased by 1.1% (+1.8% in November). The change of the total y-o-y export price index was driven mainly by a 14.5% price drop in ‘mineral fuels, lubricants and related materials’. Among important sections, prices were falling also in ‘food and live animals’
(-7.0%), ‘crude materials, inedible, except fuels’ (-4.1%) and ‘machinery and transport equipment’ (-0.3%).The biggest price growth occured in ‘manufactured goods classified chiefly by material’ (+1.6%) and ‘miscellaneous manufactured articles’ (+0.2%).

Imports: import prices fell 1.9% (+0.9% in November). The change of the total y-o-y import price index came mainly from a 20.9% price drop in ‘mineral fuels, lubricants and related materials’. Prices of ‘crude materials, inedible, except fuels’ and ‘food and live animals’ decreased by 8.1% and 3.3%, respectively. Among important sections, prices were rising in ‘machinery and transport equipment’ (+2.1%), ‘miscellaneous manufactured articles’ (+1.8%) and ‘manufactured goods classified chiefly by material’ (+1.0%).

The terms of trade figures decreased to 100.8% (100.9% in November) staying in positive values for twenty-fourth month. Highest positive values of the terms of trade figures were registered in ‘mineral fuels, lubricants and related materials’ (108.1%), ‘crude materials, inedible, except fuels’ (104.4%) and ‘manufactured goods classified chiefly by material’ (+100.6%). Among important sections, prices of ‘food and live animals’ (96.2%) and ‘machinery and transport equipment‘ (97.6%) reached negative values of the terms of trade.

Trend in 2014

For the whole year 2014, export prices increased by 3.5% (+1.2% in 2013), import prices increased by 1.9% (-0.2% in 2013).

Exports: prices among important sections grew in ‘manufactured goods classified chiefly by material’ (+5.2%), ‘miscellaneous manufactured articles’ (+4.4%) and ‘machinery and transport equipment‘. (+3.7%). Prices of ‘mineral fuels, lubricants and related materials’ and ‘food and live animals’ dropped 5.0% and 0.2%, respectively.

Imports: prices significantly rose in ‘food and live animals’ (+4.4%), ‘machinery and transport equipment‘ (+3.5%), ‘manufactured goods classified chiefly by material’ (+3.2%) and ‘miscellaneous manufactured articles’ (+2.5%). Prices of ‘mineral fuels, lubricants and related materials’ and ‘crude materials, inedible, except fuels’ fell 5.6% and 3.3%, respectively.

The terms of trade figures in total reached 101.6% in 2014 (101.4% in 2013).


Notes:
Responsible manager of the CZSO: Jiří Mrázek, Department Director
Contact: Vladimír Klimeš, phone (+420) 274 054 102, e-mail: vladimir.klimes@czso.cz
Method of data collection: Selective survey of the CZSO
End of data collection: 16th calendar day after the reference month
Related publications: 013012-14 Import and Export Price Indices in the Czech Republic http://www.czso.cz/csu/2014edicniplan.nsf/engp/013012-14
Specific methodical notes: The data released are final.
Next News Release: 16 March 2015

Related analysis: Development of external trade price indices - 4 quarter 2014

Published: 16.02.2015
The data are valid as of the release date of the publication.