Export and import price indices - May

In May 2009, export prices decreased by 1.3% and import prices by 0.9%, month-on-month. Year-on-year, export prices increased by 0.3% and import prices decreased by 4,0%. The terms of trade figures reached 99.6%, m-o-m, and 104.5%, y-o-y.




Month-on-month comparison:

- Exports : export prices decreased by 1.3% in May (-1.9% in April), 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 2.8% price drop in ‘manufactured goods, classified chiefly by materials’ and a 1.0% drop in ‘machinery and transport equipment’. Prices of 'mineral fuels, lubricants and related materials' decreased by 2.3% and prices of ‘miscellaneous manufactured articles’ by 0.9%. More significant price growth was recorded only in ‘crude materials, inedible, except fuels’ by 2.6%.

- Imports: Import prices dropped by 0.9% (-1.6% in April). Decrease of the total m-o-m import price index was driven mainly by a 0.9% drop in prices of 'machinery and transport equipment’. Significant price drops were recorded in ‘food and live animals’ (-2.5%) and prices of ‘mineral fuels lubricants and related materials’ and ‘miscellaneous manufactured articles’ which both dropped by 1.3%. Prices were falling also in all other observed sections.

- The terms of trade figures remain in the negative values for the second month, they decreased slightly to 99.6% in May (99.7% in April). Negative terms of trade figures were recorded for ‘manufactured goods classified chiefly by materials’ (97.8%), ‘mineral fuels, lubricants and related materials' (99.0%), ‘chemicals' (99.5%) and ‘machinery and transport equipment’ (99.9%). Significant positive values were recorded in ‘food and live animals’ (101.9%) and ‘crude materials, inedible, except fuels’ (103.1%).


Year-on-year comparison:

- Exports: export prices increased by 0.3% in May (+2.0% in April), their growth rate decreased for the third month in a row. Among important sections higher were prices in ‘machinery and transport equipment’ by 5.1% and ‘miscellaneous manufactured articles’ by 4.9%. By contrast, more marked price drops were recorded in ‘crude materials, inedible, except fuels’ (-28.6%), ‘mineral fuels, lubricants and related materials’ (-16.0%) and ‘food and live animals’ (-11.1%).

- Imports : import prices were decreasing for the second month, this time by 4.0% (-1.3% in April). The decrease of the total y-o-y import price index was mainly affected by a 33.7% 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’ (-4.4%) and ‘chemicals’ (-3.1%). By contrast, more significant price increases were observed in ‘crude materials, inedible, except fuels’ (+6.5%), ‘miscellaneous manufactured articles’ (+5.1%) and in ‘machinery and transport equipment (+3.4%).

- The terms of trade figures reached 104.5% in May (103.3% in April) to reach 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%) and ‘manufactured goods classified chiefly by material’ (104.2%). The terms of trade figures of ‘machinery and transport equipment’ stood at 101.6%. By contrast, negative values were recorded in ‘crude materials, inedible, except fuels’ (67.0%), ‘food and live animals’ (88.5%) and ‘chemicals’ (94.3%).

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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.