Export and import price indices - April 2007

In April 2007, export prices decreased by 0.3% and import prices, in contrast, rose by 0.4%, month-on-month. Year-on-year, export prices rose by 1.9%, while import prices fell by 1.6%. The terms of trade figures reached 99.3% m-o-m and 103.6% y-o-y.
Month-on-month comparison:

- Exports : export prices recorded a two monthly drop, in April by 0.3%. The decrease of the total m-o-m export price index was mainly affected by a 0.5% decrease of prices for 'machinery and transport equipment' (office machines and automatic data-processing machines, in particular). The most significant decrease by (-1.0%) was recorded for prices of 'crude materials, inedible, except fuels'. Also prices of 'mineral fuels, lubricants and related materials' decreased by 0.6% and prices of manufactured consumer goods by 0.5%. Among observed sections important in terms of weight, the most significant growth showed prices of 'food and live animals' (+0.9%) and 'manufactured goods classified chiefly by material' (+0.4%) (especially iron and steel).

- Imports: import prices recorded a three monthly growth, this time by 0.4%. The increase of the total m-o-m import price index was mainly affected by a 2.1% rise in prices of 'mineral fuels, lubricants and related materials' (mainly petroleum and petroleum products). More markedly rose also prices of 'food and live animals' (+1.4% for vegetables and fruit, mainly). Prices of 'machinery and transport equipment' showed no change on average (however, in March, they decreased by 0.5%). Among observed sections important in terms of weight, only prices of 'miscellaneous manufactured articles' decreased by 0.4%.

- Terms of trade reached 99.3% which was the lowest figure since June 2005 and their value was negative in all significant sections. The lowest value of the terms of trade (97.4%) was recorded for 'mineral fuels, lubricants and related materials'. The decrease of the total m-o-m terms of trade was mainly due to a drop in section of 'machinery and transport equipment' (to 99.5% from 100.3% in March).

Year-on-year comparison:

- Exports: the increase of export prices by 1.9% (+2.0% in March) was driven mainly by growth of prices of 'manufactured goods classified chiefly by material' (+5.4% especially for iron and steel). However, the most significant growth showed the prices of 'crude materials, inedible, except fuels' (+18.0% for oil-seeds and metalliferous ores, in particular). Prices of almost all sections rose, among important sections in terms of weight only prices of 'machinery and transport equipment' decreased by 0.4% (telecommunications and sound-recording and reproducing apparatus and equipment, in particular) and 'miscellaneous manufactured articles' by 0.5%.

- Imports: import prices decreased by 1.6% (-1.8% in March). Their decrease was most affected by drop of prices for 'machinery and transport equipment' by 4.3% (mainly office machines and automatic data-processing machines). However, the most significant decrease by 7.5% was recorded for prices of 'mineral fuels, lubricants and related materials' (mainly for gas, petroleum and petroleum products). The biggest increase among sections important in terms of weight was registered for 'manufactured goods classified chiefly by material' (+4.5% for non-ferrous metals, in particular).

- Terms of trade reached 103.6% (103.9% in March); showing positive values since September 2006, while, actually, they have been falling for the second month. The terms of trade figures were positive in all observed sections, the highest value was reached in 'crude materials, inedible, except fuels' (114.3%) and 'mineral fuels, lubricants and related materials' (113.5%). Terms of trade in 'machinery and transport equipment' reached 104.1% but compared to March they showed a significant decline by 0.7 percentage point. Lower figures were registered in particular for 'manufactured goods classified chiefly by material' (100.9%) and 'chemicals and related products' (100.4%).
Month-on-month comparison:

- The growth of world prices of industrial raw materials and food covered by the index recorded almost no change in May and a 0.7% growth is the lowest price change since August 2006. Prices of Brent petroleum and natural gas increased in total only by 0.5% (+2.6% in April) and prices of metals rose, on average, only by 2.2% (+6.7% in April). Prices of all observed groups went up, only prices of leather decreased.

Year-on-year comparison:

- In May, the world prices recorded a 0.8% drop, which was the first time after a three monthly growth. The main reason was the total price decrease of petroleum Brent and natural gas by 3.8% and also a slow-down of price growth of metals, prices of metals rose in total by 22.0% (+34.1% in April). Slightly increased also prices of leather and rubber, wood prices decreased.

1) The world prices follow current prices in original currencies in commodity markets and indicate in advance the character of the future development of the Czech import and export prices of industrial raw materials and food.

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Note

Contact: Jiří Choun, phone (+420) 274 052 196, e-mail: jiri.choun@csu.gov.cz
Data source: CZSO survey
End of data collection: Last calendar day of the month
End of data processing: Import and export price indices: 40th calendar day following the end of reference month
CZSO world price indices: 10th calendar day following the end of reference month
Related publications: 7201-07 Import and Export Price Indices in the Czech Republic
Detailed (Internet: /produkty/export-and-import-price-indices-in-the-cr-december-60nxkfuf2e )
7202-07 CZSO World Price Indices of Industrial Raw Materials and Food
Detailed (Internet: /produkty/indexy-csu-svetovych-cen-prumyslovych-surovin-a-potravin-prosinec-y97r7pcy2m )
The data released are final.