Export and import price indices - October 2004
Acceleration in the growth of import and export prices
Publication Date: 14. 12. 2004
Product Code: r-7201-04
Goods import and export price indices in the CR
October 2004
Month-on-month comparison:
- Both import and export prices increased in October by 0.3% and 0.5%, respectively and thus showed similar growth as already in the previous three months.
Imports: import prices have been influenced most by prices of ‘mineral fuels, lubricants and related materials’, which rose in total faster than in September and increased by 4.0% (this time, the most increased petroleum and petroleum products prices as well as coal and natural gas prices). Further, prices were influenced also by slight growth of ‘manufactured goods classified chiefly by material’ prices by 0.3%, mainly by constantly increasing iron and steel prices and prices of non-ferrous metals. On the contrary, the biggest drop in total by 1.9% was recorded for ‘crude materials, inedible, except fuels’ prices, prices of pulp, metalliferous ores, wood and textile fibres in particular. Prices of ‘machinery and transport equipment’ decreased by 0.6%; similarly as in September, prices of almost all of the observed divisions of ‘machinery and transport equipment’ decreased.
Exports : The same as in the previous month, the highest price growth was for ‘chemicals and related products’ prices, this time +2.4% (plastics in particular, but also prices of organic and inorganic chemicals). This growth is closely related to mineral fuels price growth, which increased this month by +2.2%. The biggest influence on the increase of the total m-o-m export price index was due to price increase of ‘manufactured goods classified chiefly by material’ again, although only by +1.3%. Mainly prices of iron and steel and manufactures of metals were increasing. Prices of ‘machinery and transport equipment’ continued in the decreasing trend, in October -0.4% (especially prices of electrical machinery, apparatus and appliances).
- Terms of trade reached the value of 100.2%, the same as in September. Positive values were especially for prices of ‘chemicals and related products’, ‘crude materials, inedible, except fuels’ and ‘manufactured goods classified chiefly by material’; prices of ‘machinery and transport equipment’ reached the value of 100.2%. On the contrary, negative values were at prices of ‘mineral fuels, lubricants and related materials’.
Year-on-year comparison:
- Import prices accelerated their y-o-y growth to 3.3% in October. Similar price increase was observed last time in February 2001 (+3.6%). It is related to the section of ‘mineral fuels, lubricants and related materials’ again, which influences the total import price index markedly. Prices of ‘mineral fuels, lubricants and related materials’ increased in total +23.5%, which is the highest growth since January 2001. Petroleum and petroleum products haven’t shown such a significant increase (by +35.4%) already since November 2000. Prices of ‘crude materials, inedible, except fuels’ continued with their growth, but with more moderate pace than in September, this time +9.7%. On the contrary, ‘manufactured goods classified chiefly by material’ prices accelerated their growth to 5.5%. Continual price decrease of ‘machinery and transport equipment’, in October -2.1%, has a marked influence on the total index (telecommunications and sound-recording and reproducing apparatus and equipment in particular).
- Export prices accelerated their y-o-y growth rate, too: in October to +4.8% (in September +3.5%); last time, higher growth was in December 2000 (+5.5%). The most significant price growth takes place already since November 2003 in ‘mineral fuels, lubricants and related materials‘, this time by +32.1% (especially in prices of petroleum products and coal). Prices of ‘chemicals and related products’ increased (+15.3%) in context with the price growth of ‘mineral fuels, lubricants and related materials’. However, the rise in prices of ‘manufactured goods classified chiefly by material’ +11.9% (iron and steel and manufactures of metals prices in particular) had a dominant impact on the increase of the total index of export prices. Prices of ‘machinery and transport equipment’ continued to decrease, namely by 1.5%.
- Terms of trade reached the value of 101.5%. Positive figures were recorded especially for ‘chemicals and related products’ and ‘manufactured goods classified chiefly by material’ (112.4% and 106.1%, respectively). Terms of trade of ‘mineral fuels, lubricants and related materials‘ decreased against September, but still were in positive values (107.0%); for prices of ‘machinery and transport equipment’ they reached the value of 100.6%. In more significant sections, negative terms of trade continued in prices of ‘crude materials, inedible, except fuels’ (92.7%) and slightly negative were in ‘miscellaneous manufactured articles’ (99.8%).
CZSO world price index of raw materials and food 1)
November 2004
November 2004
Month-on-month comparison:
- The world prices covered by the index decreased in total after a four-month increase by -3.5% in November. No extreme price changes in single commodities and all aggregations were recorded, only crude oil price, which has the biggest influence on the total index, decreased by -9.5% (after four-month growth). It was decreasing mainly in the half of November due to growth of oil supply in the USA.
Year-on-year comparison:
In November, the world prices were 32.7% up in total, against October (37.7%) their growth slowed down. The same trend was for petroleum Brent prices; its extreme October growth by 70.3% was recorded last time in the first half of the year 2000. In November, growth of oil prices slowed down to 55.0%, metal prices were higher by 28.5%. At another significant commodity - natural gas, price growth accelerated to 27.2%. Prices of textile raw materials, rubber and leather were lower.
1) The world prices follow actual prices in terms of original currencies read at commodity exchanges and indicate in advance the nature of the future development of Czech import and export prices of industrial raw materials and food.
Note
Contact: Jiří Choun, tel. (+420) 27405 2196, e-mail: choun@gw.czso.cz
Data source: CZSO survey
End of data collection: Last calendar day of the month
End of data processing: Import and export price indices: 40th calendar day following the end of reference month
CZSO world price indices: 10th calendar day following the end of reference month
Related publications: 7201-04 Import and Export Price Indices in the Czech Republic
Detailed on (Internet: http://www.czso.cz/eng/edicniplan.nsf/p/7201-04 )
7202-04 CZSO World Price Indices of Industrial Raw Materials and Food
The released data are definitive.