Export and import price indices - September 2021

In September 2021 export and import prices increased month-on-month by 0.9% and 1.4%, respectively. The terms of trade reached the value of 99.5%. Export and import prices rose year-on-year by 7.5% and 8.8%, respectively. The terms of trade reached the value of 98.8%.

Month-on-Month Comparison
Export prices increased by 0.9% (after exchange rate adjustment increased by 1.1%),
month on-month (m-o-m) in September 2021. The growth in the monthly export price index was essentially affected by an increase in prices of ‘mineral fuels, lubricants and related materials’, especially electricity, gas and carbon, by 15.9%. Prices grew in ‘manufactured goods classified chiefly by material’, especially iron and steel, by 0.5%. The highest price fall was recorded
in ‘crude materials, inedible, except fuels’, especially metal scrap, by 0.4%.

Import prices increased by 1.4% (after exchange rate adjustment by 1.6%), m-o-m, in September 2021. The greatest effect on an overall rise in the monthly import price index was brought mainly by an increase in ‘mineral fuels, lubricants and related materials’, especially gas and electricity, by 12.2%. Prices grew in ‘chemicals and related products’, by 0.7% and in ‘machinery
and transport equipment’ and ‘manufactured goods classified chiefly by material’, by 0.6%, both. The highest price fall was recorded in ‘crude materials, inedible, except fuels’, especially metalliferous ores, by 4.5%.

The terms of trade reached the value of 99.5% (99.4% in August 2021). The lowest value
of the terms of trade was reached in ‘chemicals and related products’ (99.0%). The highest value of the terms of trade was reached in ‘crude materials, inedible, except fuels’ (104.3%).

“In September 2021, despite the appreciation of CZK, the significant growth of year-on-year prices continued, in export by 7.5% and in import by 8.8%. In year-on-year and month-on-month comparison the prices of ‘mineral fuels, lubricants and related materials’ grew significantly, especially prices of electricity and gas, Vladimír Klimeš, Head of the Industrial and International Trade Prices Statistics Unit of the Czech Statistical Office, noted.

Export prices rose by 7.5% (by 11.6% after exchange rate adjustment), year-on-year (y-o-y). The growth in the export price index was essentially affected by an increase in prices
of ‘manufactured goods classified chiefly by material’, especially iron, steel, metal
and wooden products, by 14.7%. Prices increased significantly in ‘crude materials, inedible, except fuels’, particularly wood and metal scrap, in ‘mineral fuels, lubricants and related materials’, particularly electricity, petroleum products and gas, and in ‘chemicals and related products’, by 63.7%, 62.3% and 12.8%, respectively. Price fall was recorded only in ‘beverages and tobacco’, by 4.3%.

Import prices increased by 8.8%, y-o-y (by 13.1% after exchange rate adjustment). The growth in prices of ‘mineral fuels, lubricants and related materials’, especially gas, petroleum, petroleum products and electricity, by 88.6%, had the strongest effect on the increase of the annual import price index. Prices also increased in ‘crude materials, inedible, except fuels’, particularly metalliferous ores, metal scrap, and wood, in ‘manufactured goods classified chiefly by material’, especially iron, steel, and non-ferrous metals, and in ‘chemicals and related products’, by 34.2%, 12.7% and 10.5%, respectively. The prices fell in ‘machinery and transport equipment’, in ‘food and live animals’, and in ‘miscellaneous manufactured articles’ by 0.6%, 1.7% and 1.9%, respectively.

The terms of trade reached the value of 98.8% (99.3% in August 2021). The lowest value of the terms of trade was reached in ‘mineral fuels, lubricants and related materials’ (86.1%). On the other hand, the highest value of the terms of trade was recorded in ‘crude materials, inedible, except fuels’ (122.0%).

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Notes:
Responsible head at the CZSO: Jiří Mrázek, Director of the Prices Statistics Department, phone: (+420) 274 052 533, e-mail: jiri.mrazek@csu.gov.cz
Contact person: Vladimír Klimeš, Head of the Industrial and International Trade Prices Statistics Unit, phone: (+420) 274 054 102, e-mail: vladimir.klimes@csu.gov.cz
Data source: Sample survey of the CZSO
End of data collection: 15th calendar day after the reference month end
Related Internet-published document: 013014-21 Import and Export Price Indices in the Czech Republic
https://csu.gov.cz/export-and-import-price-indices
Specific methodical notes: The data published in the News Release are final data.
Next News Release shall be published on: 10 December 2021