Export and import price indices - April 2008

In April 2008, export prices did not change, import prices increased by 0.1%, month-on-month. Year-on-year, export prices fell by 5.0% and import prices by 4.2%. The terms of trade figures reached 99.9%, m-o-m, and 99.2%, y-o-y.
Month-on-month comparison:

- Exports : Although export prices on average did not change in April, the biggest growth was recorded for ‘crude materials, inedible, except fuels’ by 4.7% (especially metal scrap) and 'mineral fuels, lubricants and related products' by 2.1% (particularly petroleum products). Growth was registered also for prices of 'manufactured goods classified chiefly by material’ by 0.6% and ‘chemicals and related products’ by 0.5%. Prices in all other sections went down, among sections important in terms of weight prices of ‘miscellaneous manufactured articles’ fell by 0.3% and 'machinery and transport equipment’ by 0.5% (particularly prices of general industrial machinery and equipment).

- Imports: in April import prices increased after nine months, even though only by 0.1%. The increase of the total m-o-m import price index was driven mainly by a 3.0% rise in prices of 'mineral fuels, lubricants and related materials’ (especially petroleum, petroleum products and related materials). Growth was recorded also for prices of 'manufactured goods classified chiefly by material’ by 0.9%, ‘food and live animals’ by 0.5% and ‘crude materials, inedible, except fuels’ by 0.3%. The biggest drop was registered for 'machinery and transport equipment’ by 1.0% (especially office machines and automatic data-processing machines). Among sections important in terms of weight, price drops were observed in prices of ‘chemicals and related products’ by 0.5% and ‘miscellaneous manufactured articles’ by 0.2%.

- The terms of trade figure stood at 99.9% in April (100.0% in March) and after three months they slipped back to negative values. More significant negative values were recorded for ‘food and live animals’ (99.0%) and 'mineral fuels, lubricants and related products' (99.1%). Positive values of the terms of trade figures reached only ‘crude materials, inedible, except fuels’ (104.4%), ‘chemicals and related products’ (101.0%) and 'machinery and transport equipment’ (100.5%).

Year-on-year comparison:

- Exports: export prices decreased by 5.0% in April (by 5.3% in March) and dropped for the sixth month in a row. The underlying reason was the strong appreciation of the koruna. The biggest price decreases were registered in ‘machinery and transport equipment’ by 7.4% (particularly road vehicles), ‘miscellaneous manufactured articles’ by 7.2% and ‘chemicals and related products’ by 6.1%. In contrast, the biggest growth of prices among important sections was recorded for 'mineral fuels, lubricants and related materials’ by 17.1% (especially coal) and ‘food and live animals’ by 7.1% (mainly cereals and cereal preparations).

- Imports: import prices decreased already for the ninth successive month, this time by 4.2% (by 3.9% in March), which again came mainly from the appreciation of the koruna. Import prices recorded the biggest fall from December 2002. The drop of the total y-o-y import price index was mainly affected by an 9.2% price decrease in 'machinery and transport equipment' (especially office machines and automatic data-processing machines). Considerable price drops were observed also in 'miscellaneous manufactured articles' by 7.5%, ‘chemicals and related products' by 6.1% and ‘manufactured goods classified chiefly by material’ by 4.6%. More significant growth was recorded only for prices of ‘mineral fuels, lubricants and related materials' by 16.1%.

- The terms of trade figure slightly increased to reach 99.2% (98.5% in March) remaining, however, below 100% for the fifth month in a row. Negative value of the terms of trade figures was recorded only for ‘beverages and tobacco‘ (96,9%). ‘Miscellaneous manufactured articles’ reached 100.3%, ‘crude materials, inedible, except fuels’ 101.1% and 'machinery and transport equipment' 102.0%. The biggest value was registered for ‘food and live animals’ (106.0%).
Month-on-month comparison:

- The world prices of industrial raw materials and food covered by the index increased by 6.5% in May (7.5% in April). The main reason was the increase in Brent oil, whose price increased by 12.3% (8.5% in April) to reach more than USD 125 per barrel on monthly average. More significant growth was recorded also for prices of rubber and wood. Prices of metals, textiles and leather decreased.

Year-on-year comparison:

- In May, the world prices increased by 60.4% (51.6% in April). The main and long-lasting reason was again the increase in oil prices, this time Brent oil increased markedly by 83.5%. Significant increase by 55.1% was registered also for natural gas. A big increase by 45.5% was reported for prices of food. On the contrary, prices of metals, leather and wood fell.

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: Vladimír Klimeš, phone (+420) 274 054 102, e-mail: vladimir.klimes@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: 7201-08 Import and Export Price Indices in the Czech Republic
Detailed (Internet: /produkty/export-and-import-price-indices-in-the-czech-republic-december-zn0n03jaf2 )
7202-08 CZSO World Price Indices of Industrial Raw Materials and Food
Detailed (Internet: /produkty/indexy-csu-svetovych-cen-prumyslovych-surovin-a-potravin-prosinec-z8ictqx7yq )
The data released are final.