International Trade in Goods Price Indices - April 2022

In April 2022 export prices increased month-on-month by 0.3% and year-on-year by 12.6%. Import prices decreased month-on-month by 0.3% and increased year-on-year by 18.4%. The terms of trade reached month-on-month the value 100.6%, year-on year 95.1%.

Export prices
In month-on-month comparison, export prices increased by 0.3% (after exchange rate adjustment by 1.9%). The growth in the monthly export price index was essentially affected by an increase in prices of ‘manufactured goods classified chiefly by material’, especially metal products, iron and steel, by 2.8%. Prices increased most in ‘crude materials, inedible, except fuels’, especially wood, and in ‘chemicals and related products’, by 4.3%, and 3.3%, respectively.
Prices in ‘mineral fuels, lubricants and related materials’ fell by 1.8% (decrease was recorded only in prices of electricity).

In Year-on-year comparison, export prices increased by 12.6% (by 17.1% after adjustment). The growth in the export price index was essentially affected by an increase in prices of ‘mineral fuels, lubricants and related materials’, i.e. electricity, gas, petroleum products and coal, by 138.7%. Prices increased significantly also in ‘crude materials, inedible, except fuels’, particularly wood and metal scrap, in ‘food and live animals’, especially cereals, in ‘manufactured goods classified chiefly by material’, especially iron, steel and metal and wooden products, and in ‘chemicals and related products’, by 40.4%, 22.6%, 21.7% and 15.5%, respectively.

Import prices
In month-on-month comparison, import prices decreased by 0.3% (after exchange rate adjustment increased by 1.2%). The greatest effect on an overall rise in the monthly import price index was brought mainly by decrease in ‘mineral fuels, lubricants and related materials’, i.e.  petroleum, petroleum products, electricity and gas, by 4.0%. Prices decreased in ‘machinery and transport equipment’, by 1.3%. Prices increased in ‘crude materials, inedible, except fuels’, especially wood, in ‘chemicals and related products’, and in ‘manufactured goods classified chiefly by material’, especially iron, steel, and non-ferrous metals, by 3.9%, 2.5% and 1.9%, respectively.

In year-on-year comparison, import prices increased by 18.4% (after adjustment by 22.2%). The growth in prices of ‘mineral fuels, lubricants and related materials’, i.e. gas, petroleum, petroleum products, electricity and coal, by 130.8%, had the strongest effect on the increase of the annual import price index. Prices grew significantly also in ‘manufactured goods classified chiefly by material’, especially iron, steel, non-ferrous-metals and paper, in ‘crude materials, inedible, except fuels’, especially wood, and in ‘chemicals and related products’, especially plastics and fertilizers, by 23.0%, 20.1% and 14.9%, respectively.

“In April 2022 export and import were significantly affected by exchange rate. Export prices increased in year-on-year comparison by 12.6% and import prices by 18.4%. Significantly high were especially energy prices, for example, import prices of gas increased by more than 400%”, Vladimír Klimeš, Head of the Industrial and International Trade Prices Statistics Unit of the Czech Statistical Office, noted.

The terms of trade
In moth-on-month comparison, the terms of trade reached the value of 100.6% (97.9% in March). The lowest value of the terms of trade was reached in ‘miscellaneous manufactured articles’ (99.9%). The highest value of the terms of trade was reached in ‘mineral fuels, lubricants and related materials’ (102.3%).

In year-on-year comparison, the terms of trade reached the value of 95.1% (95.0% in March). The lowest value of the terms of trade was reached in ‘beverages and tobacco’ (89.8%).
The highest value was reached in ‘crude materials, inedible, except fuels’ (116.9%).

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