Export and import price indices - May 2019

In May 2019 export prices and import prices increased month-on-month by 0.2% and 0.3%, respectively. The terms of trade reached the value of 99.9%. Export prices and import prices increased equally year-on-year by 2.0%. The terms of trade reached the value of 100.0%.

Month-on-Month Comparison
Export prices increased by 0.2%, month-on-month (m-o-m) in May 2019. The growth in the monthly export price index was essentially affected by an increase in prices of ‘miscellaneous manufactured articles’ by 0.9%. Prices grew in ‘mineral fuels, lubricants, and related products’, especially in petroleum products prices, and ‘chemicals and related products’ by 1.1%, and 0.9%, respectively. Prices in ‘machinery and transport equipment’ didn’t change. The only price fall was in ‘crude materials, inedible, except fuels’ by 1.9%.

Import prices grew by 0.3%, m-o-m, in May 2019. The greatest effect on an overall growth in the monthly import price index was brought mainly by an increase in ‘mineral fuels, lubricants, and related products’ by 1.9%, especially in petroleum prices. Prices increased in ‘crude materials, inedible, except fuels’, ‘food and live animals’ and in ‘machinery and transport equipment’ by 1.6%, 0.6% and 0.1%, respectively. No price drop was recorded in any of the monitored groups.

The terms of trade reached the value of 99.9%. Significant negative values of the terms of trade were reached in ‘mineral fuels, lubricants, and related products’ (99.2%), ‘food and live animals’ (99.5%), and in ‘machinery and transport equipment’ (99.9%). Significant positive values of the terms of trade were reached in ‘miscellaneous manufactured articles’ (100.9%), and ‘chemicals and related products’ (100.8%).

Year-on-Year Comparison
Export prices grew by 2.0%, year-on-year (y-o-y) (in April 2019 they increased by 3.1%). An increase in the prices of ‘machinery and transport equipment’ by 1.6% exerted a significant effect on the development in the annual export price index. The highest price increases were recorded in the group of ‘mineral fuels, lubricants, and related products’, especially in electricity prices, and in ‘miscellaneous manufactured articles’ by 4.5% equally, and in ‘food and live animals’ by 3.8%. The only price fall was in ‘crude materials, inedible, except fuels’ by 1.4%.

Import prices increased by 2.0%, y-o-y (they rose by 3.4% in April 2019). A growth in prices for ‘machinery and transport equipment’ by 2.6% had the strongest effect on the growth of the annual import price index. The biggest price growth was recorded in ‘crude materials, inedible, except fuels’, especially in metalliferous ores prices, ‘food and live animals’, and in ‘mineral fuels, lubricants, and related products’ by 9.2%, 3.2% and 3.0%, respectively. Prices fell only in ‘beverages and tobacco’ by 4.5%.

The terms of trade increased to the value of 100.0% (they reached 99.7% in April 2019) and after two months they increased to positive values. Negative values of the terms of trade were reached especially in ‘crude materials, inedible, except fuels’ (90.3%), ‘machinery and transport equipment’ (99.0%), and in ‘chemicals and related products’ (99.4%). Out of the important groups of goods positive values of the terms of trade were recorded for ‘miscellaneous manufactured articles’ (104.1%), and ‘manufactured goods classified chiefly by material’ (101.5%).

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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: 12 August 2019

Attachments

⇩ aizc071119.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)