Export and import price indices - June

In June 2009, export prices decreased by 0.6% and import prices by 0.5%, month-on-month. Year-on-year, export prices increased by 1.5% and import prices decreased by 3,3%. The terms of trade figures reached 99.9%, m-o-m, and 105.0%, y-o-y.
Month-on-month comparison:

- Exports : export prices decreased by 0.6% in June (-1.3% in May), especially due to notable strengthening of the Czech crown to Euro and US Dollar. The drop of the total m-o-m export price index came mainly from a 1.7% price drop in ‘manufactured goods, classified chiefly by materials’. Prices of 'miscellaneous manufactured articles’ decreased by 0.8% and prices of ‘machinery and transport equipment’ by 0.4%. More significant price growth was recorded only in ‘mineral fuels, lubricants and related materials’ by 1.5% and in prices of ‘chemicals’ by 0.9%.

- Imports: Import prices dropped by 0.5% (-0.9% in May). Decrease of the total m-o-m import price index was driven mainly by a 1.2% drop in prices of 'machinery and transport equipment’. Significant price drops were recorded in ‘food and live animals’ (-2.1%) and ‘chemicals’ (-1.2%). Significant price growth was recorded only in prices of ‘mineral fuels, lubricants and related materials’ (5.2%).

- The terms of trade figures remain in the negative values for the third month, they increased slightly to 99.9% in May (99.6% in May). Negative terms of trade figures were recorded for ‘mineral fuels, lubricants and related materials' (96.5%), ‘beverages and tobacco’ (97.8%) and ‘manufactured goods classified chiefly by materials’ (98.9%). By contrast, significant positive values were recorded in ‘chemicals’ (102.1%) and ‘machinery and transport equipment’ (100.8%).

Year-on-year comparison:

- Exports: export prices increased by 1.5% in June (+0.3% in May). Among important sections higher were prices in ‘machinery and transport equipment’ by 7.1% and ‘miscellaneous manufactured articles’ by 6.1%. By contrast, more marked price drops were recorded in ‘crude materials, inedible, except fuels’ (-29.8%), ‘mineral fuels, lubricants and related materials’ (-14.7%) and ‘food and live animals’ (-9.7%).

- Imports : import prices were decreasing for the third month, this time by 3.3% (-4.0% in May). Change of the total y-o-y import price index was mainly affected by a 32.7% price decrease in 'mineral fuels, lubricants and related materials'. Among sections important in terms of weight, the biggest price drops were recorded in ’manufactured goods classified chiefly by material’ (-2.9%) and ‘chemicals’ (-2.4%). By contrast, more significant price increases were observed in ‘miscellaneous manufactured articles’ (+6.1%), ‘machinery and transport equipment’ (+4.5%) and in prices of ‘crude materials, inedible, except fuels’ (+2.3%).

- The terms of trade figures reached 105.0% in June (104.5% in May) to show the highest value since November 2001. Higher values of the terms of trade figures were recorded for ‘mineral fuels, lubricants and related materials' (126.7%), ‘machinery and transport equipment (102.5%) and ‘manufactured goods classified chiefly by materials’ (102.0%). By contrast, negative values were recorded in ‘crude materials, inedible, except fuels’ (68.6%), ‘food and live animals’ (90.2%) and ‘chemicals’ (95.7%).

Analysis - Development of external trade price indices in the 2nd quarter of 2009

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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: 15th calendar day after next month
Related publications: 7201-09 Import and Export Price Indices in the Czech Republic
Detailed (Internet: /produkty/export-and-import-price-indices-in-the-czech-republic-2009-2sc5fdjbfg )
The data released are final.