Export and import price indices - July 2016

In July 2016, export prices did not change, import prices increased by 0.2%, the terms of trade figures reached 99.8%, month-on-month. Export prices decreased by 3.2%, import prices by 4.5%, the terms of trade reached 101.4%, year-on-year.

Month-on-month comparison:

Exports: export prices did not change in July (+0.1% in June). Biggest price growth occurred in prices of ‘food and live animals’ (+0.8%), ‘miscellaneous manufactured articles’ (+0.5%), and ‘manufactured goods classified chiefly by material’ (0.1%). Among important sections, prices fell in ‘mineral fuels, lubricants and related materials’ (-1.0%), ‘crude materials, inedible, except fuels’ (-0.9%) and ‘machinery and transport equipment’ (-0.1%).

Imports: import prices increased by 0.2% in July (+0.7% in June). The change of the total
m-o-m import price index was driven mainly by a 0.7% price growth in ‘manufactured goods classified chiefly by material’. Prices rose in ‘food and live animals’ (+1.0%), ‘miscellaneous manufactured articles’ (+0.5%), and ‘machinery and transport equipment’ (+0.2%). ‘Chemicals and related products’ prices decreased by 0.1%.

The terms of trade figures increased to the value of 99.8% (99.4% in June) staying in negative values. Negative values of terms of trade were reached by prices of ‘crude materials, inedible, except fuels’ (98.3%), ‘mineral fuels, lubricants and related materials’ (98.9%) and ‘machinery and transport equipment’ (99.7%). Positive values of terms of trade were reached only by prices of ‘chemicals and related products’ – 100.1%.

Year-on-year comparison:

Exports: export prices decreased by 3.2% (-3.8% in June). The change of the total y-o-y export price index was driven mainly by a 2.0% price drop in ‘machinery and transport equipment’ influenced by strong koruna against the euro. Prices were significantly falling in ‘mineral fuels, lubricants and related materials’ (-15.9%; mainly due to petroleum products and electric current), ‘chemicals and related products’ (-9.1%), ’crude materials, inedible, except fuels’
(-8.8%) and ‘manufactured goods classified chiefly by material’ (-3.6%). Prices were rising just in ‘beverages and tobacco’ (+3.4%).

Imports: import prices fell 4.5% (-5.4% in June). The change of the total y-o-y import price index came mainly from a 25.9% price drop in ‘mineral fuels, lubricants, and related products’ (mainly due to petroleum and natural gas). Prices of ‘chemicals and related products’, ‘manufactured goods classified chiefly by material’ and ‘machinery and transport equipment’ decreased by 6.3%, 3.7% and 1.1%; respectively. Only price growth was reported in ‘beverages and tobacco’ (+2.0%) and ‘food and live animals’(+0.1%).

The terms of trade figures decreased to the value of 101.4% (101.7% in June) staying in positive values for eleventh month. Among important sections, positive values of the terms of trade figures were reached by ‘mineral fuels, lubricants and related materials’ (113.5%), ‘miscellaneous manufactured articles’ (101.2%) and ‘manufactured goods classified chiefly by material’ (100.1%). Prices of ‘crude materials, inedible, except fuels’ (94.0%), ‘chemicals and related products’ (97.0%) and ‘machinery and transport equipment‘ (99.1%) reached negative values of terms of trade.

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Notes:
Responsible manager of the CZSO: Jiří Mrázek, Department Director
Contact: Vladimír Klimeš, phone (+420) 274 054 102,
e-mail: vladimir.klimes@csu.gov.cz
Method of data collection: Selective survey of the CZSO
End of data collection: 16th calendar day after the reference month
Related publications: 013012-16 Import and Export Price Indices in the Czech Republic
https://csu.gov.cz/export-and-import-price-indices
Specific methodical notes: The data released are final.
Next News Release: 17 October 2016