Export and import price indices - March

In March 2009, both export and import prices decreased by 4.3%, month-on-month. Year-on-year, export prices increased by 4.0% and import prices grew by 0.4%. The terms of trade figures reached 100.0%, m-o-m, and 103.6% y-o-y.
Month-on-month comparison:

- Exports : export prices decreased by 4.3% in March (+3.7% in February), 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 3.9% price drop in ‘machinery and transport equipment’. Price drops were recorded also for all observed sections. The biggest price decreases were observed in ‘mineral fuels’ (-10.8%), ‘crude materials, inedible, except fuels’ (-5.1%), ‘manufactured goods, classified chiefly by material’ (-4.8%) and ‘chemicals’ (-4.7%).

- Imports: Import prices decreased by 4.3% (+3.3% in February). Decrease of the total m-o-m import price index was driven mainly by a 4.4% drop in prices of 'machinery and transport equipment’. Significant price drops were recorded for ‘mineral fuels‘ (-8.7%), ‘crude materials, inedible, except fuels’ (-4.8%), and ‘miscellaneous manufactured articles’ (-3.9%). Prices were falling also in all other observed sections.

- The terms of trade figures slightly decreased to 100.0% in March (100.4% in February). Significant positive terms of trade figures were recorded for 'miscellaneous manufactured articles’ (100.8%), 'machinery and transport equipment' (100.5%), and ‘food and live animals’ (100.3%). By contrast, the lowest values among important sections were recorded for ‘mineral fuels’ (97.7%), ‘manufactured goods classified chiefly by material’ (98.4%), and ‘chemicals’ (98.7%).

Year-on-year comparison:

- Exports: export prices increased by 4.0% in March (+8.3% in February). Among important sections higher were prices in ‘manufactured goods classified chiefly by materials’ by 7.4%, ‘miscellaneous manufactured articles’ by 7.2% and prices in 'machinery and transport equipment' grew by 6.4%. By contrast, more marked price drops were recorded for ‘crude materials, inedible, except fuels’ (-23.0%) and ‘food and live animals’ (-10.5%).

- Imports: the growth rate of import prices slowed down to show only a 0.4% increase (+4.5% in February). The growth of the total y-o-y import price index was mainly affected by a 5.2% price increase in 'machinery and transport equipment’. Among sections important in terms of weight, the biggest price growths were recorded in ’crude materials, inedible, except fuels’ (+15.9%) and ‘miscellaneous manufactured articles’ (+8.3%). The biggest price decreases were observed in 'mineral fuels, lubricants and related material' (-21.4 %) and ‘chemicals’ (-1.9%).

- The terms of trade figures reached 103.6% in March (in February also 103.6%). Higher values of the terms of trade figures were recorded for ‘mineral fuels, lubricants and related materials' (122.4%) and ‘manufactured goods classified chiefly by material’ (107.9%). The terms of trade figures of ‘machinery and transport equipment’ stood at 101.1%. By contrast, negative values were recorded for ‘crude materials, inedible, except fuels’ (66.4%) and ‘food and live animals’ (85.8%).

Analysis - Development of external trade price indices in the 1st 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.