Export and import price indices - October 2019

In October 2019 export prices and import prices decreased month-on-month by 0.7% and 0.4%, respectively. The terms of trade reached the value of 99.7%. Export and import prices decreased year-on-year by 0.8% and 1.9%, respectively. The terms of trade reached the value of 101.1%.

Month-on-Month Comparison
Export prices decreased by 0.7%, month-on-month (m-o-m) in October 2019. The fall in the monthly export price index was essentially affected by a decrease in prices of ‘manufactured goods classified chiefly by material’ by 1.3%. The biggest price fall was recorded in ‘crude materials, inedible, except fuels’ by 3.0%, especially in metalliferous ores. Prices in ‘chemicals and related products’ and in ‘miscellaneous manufactured articles’ dropped by 1.3%, identically. Prices in ‘machinery and transport equipment’ fell by 0.3%. On the contrary, prices grew in ‘food and live animals’ and ‘beverages and tobacco’ both by 0.2%.

Import prices decreased by 0.4%, m-o-m, in October 2019. The greatest effect on an overall fall in the monthly import price index was brought mainly by a decrease in ‘manufactured goods classified chiefly by material’ by 1.0%. Prices decreased the most in ‘crude materials, inedible, except fuels’, ‘chemicals and related products’ and ‘food and live animals’ by 2.8%, 0.8% and 0.6%, respectively. Prices in ‘machinery and transport equipment’ fell by 0.2%. The only price growth was recorded in ‘miscellaneous manufactured articles’ by 0.2%.

The terms of trade reached the value of 99.7%. Negative values of the terms of trade were reached in ‘miscellaneous manufactured articles’ (98.5%), ‘mineral fuels, lubricants, and related products’ (99.4%) and ‘chemicals and related products’ (99.5%). Positive values of the terms of trade were reached in ‘food and live animals’ and ‘beverages and tobacco’ (identically 100.8%).

Year-on-Year Comparison
Export prices fell by 0.8%, year-on-year (y-o-y) (in September 2019 they increased by 0.9%). The fall in the export price index was essentially affected by a decrease in prices of ‘mineral fuels, lubricants, and related products’ by 13.4%, especially in petroleum products prices. Prices decreased in ‘crude materials, inedible, except fuels’ by 12.1%, especially in metalliferous ores, in ‘chemicals and related products’ and ‘manufactured goods classified chiefly by material’ by 2.7% and 1.8%, respectively. Prices grew in ‘miscellaneous manufactured articles’ and ‘machinery and transport equipment’ by 1.7% and 0.7%, respectively.

Import prices decreased by 1.9%, y-o-y (they fell by 0.7% in September 2019). A fall in prices of ‘mineral fuels, lubricants, and related products’ by 19.2%, especially in petroleum and gas prices, had the strongest effect on the decrease of the annual import price index. Prices fell in ‘chemicals and related products’ and in ‘manufactured goods classified chiefly by material’ by 4.6% and 2.0%, respectively. The biggest price growth was recorded in ‘crude materials, inedible, except fuels’, ‘food and live animals’ and ‘machinery and transport equipment’ by 4.5%, 3.0% and 1.0%, respectively.

The terms of trade decreased to the value of 101.1% (they reached 101.6% in September 2019), however they stayed in positive values for the fifth month. Out of the important groups of goods positive values of the terms of trade were recorded in ‘mineral fuels, lubricants, and related products’ (107.2%), ‘chemicals and related products’ (102.0%) and ‘miscellaneous manufactured articles’ (101.6%). The lowest values of the terms of trade were reached especially in ‘crude materials, inedible, except fuels’ (84.1%) and ‘food and live animals’ (96.8%).

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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: 13 January 2020

Attachments

⇩ aizc121019.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)