Export and import price indices - February 2019

In February 2019 export prices and import prices increased month-on-month by 0.3% and 0.5%, respectively. The terms of trade reached the value of 99.8%. Export prices and import prices increased year-on-year by 3.4% and 3.3%, respectively. The terms of trade reached the value of 100.1%.

Month-on-Month Comparison

Export prices increased by 0.3%, month-on-month (m-o-m) in February 2019. The trend in the monthly export price index was essentially affected by an increase in prices of ‘machinery and transport equipment’ by 0.6%. Prices also grew in ‘crude materials, inedible, except fuels’ and ‘manufactured goods classified chiefly by material’ by 1.0% and 0.3%, respectively. Prices in ‘mineral fuels, lubricants, and related products’ decreased mostly by 2.0%.

Import prices grew by 0.5%, m-o-m, in February 2019. The greatest effect on an overall decline in the monthly import price index was brought mainly by an increase in ‘machinery and transport equipment’ by 0.9%. Prices grew mostly in ‘crude materials, inedible, except fuels’ and ‘food and live animals’ by 2.4% and 1.6%, respectively. Prices in ‘chemicals and related products’ decreased by 0.3%.

The terms of trade reached the value of 99.8%. Significant negative values of the terms of trade were reached in ‘mineral fuels, lubricants, and related products’ (97.9%), ‘food and live animals’ (98.0%), and in ‘machinery and transport equipment’ (99.7%). The highest positive values of the terms of trade were reached in ‘beverages and tobacco’ (102.8%), and ‘chemicals and related products’ (100.4%).

Year-on-Year Comparison

Export prices grew by 3.4%, year-on-year (y-o-y) (in January 2019 they increased by 2.8%). An increase in the prices of ‘machinery and transport equipment’ by 2.7% exerted a significant effect on the development in the annual export price index. Highest price increases were recorded in the group of ‘mineral fuels, lubricants, and related products’ by 9.4%, especially in electricity prices, in ‘miscellaneous manufactured articles’ by 4.8%, and in ‘manufactured goods classified chiefly by material’ by 4.5%. No price drop was recorded in any of the monitored groups.

Import prices increased by 3.3%, y-o-y (they rose by 2.4% in January 2019). A growth in prices for ‘machinery and transport equipment’ by 4.0% had the strongest effect on the growth of the annual import price index. The biggest price growth was recorded in ‘mineral fuels, lubricants, and related products’ by 8.6%, especially in electricity prices. Prices in ‘crude materials, inedible, except fuels’ and in ‘chemicals and related products’ grew by 7.5% and 4.0%, respectively. Prices fell only in ‘beverages and tobacco’ by 3.8%.

The terms of trade decreased to the value of 100.1% (they decreased at 100.4% in January 2019) but they stayed in positive values for the third month. Out of the important groups of goods positive values of the terms of trade were recorded for ‘miscellaneous manufactured articles’ (103.3%), and ‘manufactured goods classified chiefly by material’ (102.9%). Negative values of the terms of trade were reached especially for ‘crude materials, inedible, except fuels’ (94.5%), ‘chemicals and related products’ (97.7%), and for ‘machinery and transport equipment’ (98.8%).

Notes:

Responsible head at the CZSO: Jiří Mrázek, Director of the Prices Statistics Department, phone: (+420) 274 052 533, e-mail: jiri.mrazek@czso.cz
Contact person: Vladimír Klimeš, Head of the Industrial and External Trade Prices Statistics Unit, phone: (+420) 274 054 102, e-mail: vladimir.klimes@czso.cz
Data source: Sample survey of the CZSO
End of data collection: 15th calendar day after the reference month end
Related Internet-published document: 013014-19 Import and Export Price Indices in the Czech Republic
https://www.czso.cz/csu/czso/export-and-import-price-indices
Specific methodical notes: The data published in the News Release are final data.
Next News Release shall be published on: 13 May 2019

Attachments

⇩ aizc041019.docx
Annexes:
⇩ Table 1 Export and Import Price Indices
⇩ Table 2 Export and Import Price Indices(breakdown of indices – published and exchange rate adjusted – month-on-month, year-on-year)
⇩ Chart 1 Export and Import Price Indices (year-on-year changes)