Export and import price indices - May 2014

In May 2014, export prices decreased by 0.1%, import prices unchanged, the terms of trade figures reached 99.9%, m-o-m. Export prices increased by 3 .0 %, import prices by 1 .0 %, the terms of trade reached 102.0%, year-on-year.
Month-on-month comparison:

Exports: export prices fell 0.1% in May (growth +0.2% in April). The change of the total m-o-m export price index was driven mainly by a 2.4% price drop in ‘mineral fuels, lubricants and related materials’. Among important sections biggest price fall occurred in ‘crude materials, inedible, except fuels’ (-0.3%), ‘machinery and transport equipment’ (-0.2%) and ‘food and live animals’ (-0.1%). The biggest price growth was registered in ‘miscellaneous manufactured articles’ (+0.8%) and ‘chemicals and related products’ (+0.5%).

Imports: import prices did not change (drop -0.4% in April). Biggest price drop was registered in prices of ‘crude materials, inedible, except fuels’ (-2.1%), ‘mineral fuels, lubricants and related materials’ (-1.6%) and ‘food and live animals‘ (-1.4%). On the contrary, significant price growth was reported in ‘machinery and transport equipment’ (+0.6%), ‘chemicals and related products‘ (+0.4%) and ‘miscellaneous manufactured articles’ (+0.2%).

The terms of trade figures decreased to 99.9% (100.6% in April) and aimed to negative values after two months. Lowest negative values reached ‘mineral fuels, lubricants and related materials’ and ‘machinery and transport equipment’ (both 99.2%). Among important sections highest positive values of the terms of trade figures reached prices of ‘crude materials, inedible, except fuels’ (101.8%), ‘food and live animals‘ (101.3%), ‘miscellaneous manufactured articles’ (100.6%).

Year-on-year comparison:

Exports: export prices increased by 3.0% (+3.1% in April) due to weakening of koruna against Euro. The change of the total y-o-y export price index was driven mainly by a 2.8% price growth in ‘machinery and transport equipment’. Prices in ‘manufactured goods classified chiefly by material’, ‘miscellaneous manufactured articles’ and ‘chemicals and related products‘ grew 5.0%, 4.5% and 2.9%, respectively. Prices of ‘mineral fuels, lubricants and related materials’ decreased by 5.3% and ‘animal and vegetable oils, fats and waxes’ dropped 3.7%.

Imports: import prices rose 1.0% (+0.8% in April). Change of the total y-o-y import price index came mainly from a 2.0% price growth in ‘machinery and transport equipment’. Prices of ‘food and live animals’, ‘chemicals and related products‘ and ‘miscellaneous manufactured articles’ rose 4.8%, 1.2% and 0.3%, respectively. Prices of ‘crude materials, inedible, except fuels’ decreased by 5.3% and prices of ‘mineral fuels, lubricants and related materials’ fell 4.5%.

The terms of trade figures decreased to 102.0% (102.3% in April) staying in positive values for seventeenth month. Among important sections, highest positive values of the terms of trade figures were registered in ‘crude materials, inedible, except fuels’ (108.3%), ‘miscellaneous manufactured articles’ (104.2%), ‘manufactured goods classified chiefly by material’ (102.9%) and ‘machinery and transport equipment‘ (100.8%). Negative values of the terms of trade figures reached ‘food and live animals’ (96.2%) and ‘mineral fuels, lubricants and related materials’ (99.2%).

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: 013012-14 Import and Export Price Indices in the Czech Republic /produkty/export-and-import-price-indices-in-the-czech-republic-june-2014-1oycb4rv8p

Specific methodical notes: The data released are final.
Next News Release: 18 August 2014