Export and import price indices - July 2006

In July, import prices increased by 0.4% and export prices by 0.5% month-on-month. Year-on-year, import prices were up by 0.4% and export prices down by 0.8%. The terms of trade figures reached 100.1% m-o-m and 98.8% y-o-y. The CZSO world prices of industrial raw materials and food increased in August by 0.1% m-o-m and 24.0% y-o-y.
Month-on-month comparison:

- Imports: import prices increased by 0.4%. The biggest influence on the increase of the total m-o-m import price index was due to a growth in prices of 'mineral fuels, lubricants and related materials' by 2.2%. Among sections important in terms of weights, rising were especially prices of 'miscellaneous manufactured articles' (footwear in particular) and 'manufactured goods classified chiefly by material' (mainly rubber manufactures, iron and steel) both +0.4%. On the contrary, decline of 0.5% was recorded in 'crude materials, inedible, except fuels' prices (mainly metalliferous ores and metal scrap). Prices of 'machinery and transport equipment' dropped by 0.1%.

- Exports : export prices rose by 0.5% m-o-m. The biggest influence on the increase of this price index was due to growth in 'manufactured goods classified chiefly by material' by +1.0% (iron and steel and non-ferrous metals in particular). Prices of almost all of the other sections were rising, the most prices for 'mineral fuels, lubricants and related materials' (+2.4%, especially gas and electric current). Prices of 'chemicals and related products' (mainly organic chemicals) and 'crude materials, inedible, except fuels' rose both by +1.6%.

- Terms of trade reached a positive figure of 100.1% (by 0.3 percentage points more than in June). The highest terms of trade value was reached (among sections important in terms of weight) by the section 'crude materials, inedible, except fuels' 102.1%, the lowest was in 'machinery and transport equipment' 99.9%.

Year-on-year comparison:

- Imports: import prices increased by 0.4% (+1.0% in June) and were influenced mostly by a price growth in 'mineral fuels, lubricants and related materials' (+11.4%, mainly petroleum, petroleum products and gas). Also prices of 'manufactured goods classified chiefly by material' grew (+4.6%, especially non-ferrous metals) as well as 'food and live animals' (+0.9%, especially vegetables and fruit). Prices in other sections decreased – among observed sections important in terms of weights, the most prices of 'crude materials, inedible, except fuels' (-9.9%, mainly metalliferous ores and metal scrap) and 'miscellaneous manufactured articles' (-5.8%, especially articles of apparel). Prices of 'machinery and transport equipment' dropped by 3.1% (mainly telecommunications and sound-recording and reproducing apparatus and equipment).

- Exports: the biggest influence on the decrease of export prices by 0.8% (-1.2% in June) was due to a fall in prices of 'machinery and transport equipment' (-2.4%, road vehicles in particular). Marked price decrease was mainly in 'food and live animals' -3.0% and 'miscellaneous manufactured articles' (-1.6%, mainly furniture). On the other hand, prices of 'crude materials, inedible, except fuels' rose (+10.2%, especially metalliferous ores).

- The terms of trade, even despite the negative figure of 98.8%, were by 1.0 percentage point higher than in June and thus rose already for the fifth month. The figure was high especially in the sections 'crude materials, inedible, except fuels' 122.3%, 'chemicals and related products' 106.5% and 'miscellaneous manufactured articles' 104.5%, in 'machinery and transport equipment' it amounted to 100.7% (in June 100.5%). On the contrary, the lowest figure was recorded for 'mineral fuels, lubricants and related materials' 89.1% and 'manufactured goods classified chiefly by material' 94.8%.


Month-on-month comparison:

- The world prices of industrial raw materials and food covered by the index increased only slightly in total by 0.1% in August. Prices of commodities important in terms of weights, crude oil and natural gas, increased in total by 0.2% (of these natural gas increased by +1.5%, while Brent petroleum prices decreased by -0.9%). Metal prices rose by +1.4%; on the other hand, prices of rubber, food and wood dropped.

Year-on-year comparison:

- In August, the world prices were up by 24.0% in total (in July +30.7%) and thus already the third month slowed down their growth. Lower growth rate was also for crude oil and gas prices, in total by 23.2% (in July +30.9%). Metal prices increased already sixth month the most markedly, this time by 57.9% (however, +61.0% in July). Also prices of other aggregated sections remained higher, only wood prices still held under the level of the last year.

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: 7201-06 Import and Export Price Indices in the Czech Republic
Detailed on (Internet: http://www.czso.cz/eng/edicniplan.nsf/p/7201-06 )
7202-06 CZSO World Price Indices of Industrial Raw Materials and Food
Detailed on (Internet: /katalog-produktu )
The data released are final.