Export and import price indices - July 2019

In July 2019 export prices and import prices decreased month-on-month by 0.2% and 0.4%, respectively. The terms of trade reached the value of 100.2%. Export and import prices decreased year-on-year by 0.5% and 1.7%, respectively. The terms of trade reached the value of 101.2%.
 

Month-on-Month Comparison

Export prices decreased by 0.2%, month-on-month (m-o-m) in July 2019. The fall in the monthly export price index was essentially affected by a decrease in prices of ‘crude materials, inedible, except fuels’ by 3.2%, especially in metal scrap prices. Prices fell in ‘food and live animals’, ‘chemicals and related products’ and in ‘machinery and transport equipment’ by 1.1%, 0.5% and 0.1%, respectively. The biggest price growth was recorded in ‘mineral fuels, lubricants, and related products’ by 1.5%, especially in electricity prices, and in ‘miscellaneous manufactured articles’ by 0.4%.

Import prices decreased by 0.4%, m-o-m, in July 2019. The greatest effect on an overall fall in the monthly import price index was brought mainly by a decrease in ‘machinery and transport equipment’ by 0.5%. Prices decreased in ‘chemicals and related products’ and ‘food and live animals’ by 1.2% and 1.0%, respectively. The biggest price growth was recorded in ‘crude materials, inedible, except fuels’ and ‘mineral fuels, lubricants, and related products’ by 1.1% and 0.4%, respectively.

The terms of trade reached the value of 100.2%. Positive values of the terms of trade were reached in ‘mineral fuels, lubricants, and related products’ (101.1%), ‘chemicals and related products’ (100.7%) and ‘machinery and transport equipment’ (100.4%). Negative values of the terms of trade were reached in ‘crude materials, inedible, except fuels’ (95.7%) and ‘food and live animals’ (99.9%).
 

Year-on-Year Comparison

Export prices fell by 0.5%, year-on-year (y-o-y) (in June 2019 they increased by 0.1%). The fall in the export price index was essentially affected by a decrease in prices of ‘mineral fuels, lubricants, and related products’ by 6.2%, especially in gas and petroleum products prices. Prices decreased in ‘crude materials, inedible, except fuels’, ‘chemicals and related products’ and ‘machinery and transport equipment’ by 7.9%, 2.8% and 0.1%, respectively. Prices grew in ‘miscellaneous manufactured articles’ and ‘beverages and tobacco’ by 3.2% and 0.8%, respectively.

Import prices decreased by 1.7%, y-o-y (they fell by 0.7% in June 2019). A fall in prices of ‘mineral fuels, lubricants, and related products’ by 10.6%, especially in petroleum 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 2.4% and 2.2%, respectively. Prices grew in ‘crude materials, inedible, except fuels’ by 9.6%, especially in prices of metalliferous ores, and in ‘food and live animals’ 1.2%.

The terms of trade increased to the value of 101.2% (they reached 100.8% in June 2019) and for the second month stayed in positive values. Out of the important groups of goods positive values of the terms of trade were recorded in ‘mineral fuels, lubricants, and related products’ (104.9%), ‘miscellaneous manufactured articles’ (104.2%), ‘manufactured goods classified chiefly by material’ (101.2%), and in ‘machinery and transport equipment’ (100.5%). The lowest values of the terms of trade were reached especially in ‘crude materials, inedible, except fuels’ (84.0%), ‘food and live animals’ (98.3%), and in ‘chemicals and related products’ (99.6%).
 

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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@csu.gov.cz
Contact person: Vladimír Klimeš, Head of the Industrial and External Trade Prices Statistics Unit, phone: (+420) 274 054 102, e-mail: vladimir.klimes@csu.gov.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://csu.gov.cz/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: 10 October 2019