International Trade in Goods Price Indices - March 2022

In March 2022 export prices increased month-on-month by 4.7% and year-on-year by 13.2%. Import prices rose month-on-month by 7.0% and year-on-year by 19.2%. The terms of trade reached month-on-month the value 97.9%, year-on year 95.0%.

Export prices
In month-on-month comparison, export prices increased by 4.7% (after exchange rate adjustment by 2.9%). 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 and petroleum products, by 22.3%. Prices increased significantly also in ‘food and live animals’, especially cereals, in ‘crude materials, inedible, except fuels’, especially metal scrap, and in ‘manufactured goods classified chiefly by material’, especially iron, steel and metal products, by 9.0%, 8.5% and 4.6%, respectively.

In Year-on-year comparison, export prices increased by 13.2% (by 16.7% 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, petroleum products, gas and coal, by 152.8%. 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’, particularly organic and inorganic chemicals and plastics, by 42.6%, 20.7%, 20.4% and 15.3%, respectively.

Import prices
In month-on-month comparison, import prices increased by 7.0% (after exchange rate adjustment by 4.8%). The greatest effect on an overall rise in the monthly import price index was brought mainly by increase in ‘mineral fuels, lubricants and related materials’, i.e. gas, petroleum, petroleum products and electricity, by 29.9%. Prices increased in ‘crude materials, inedible, except fuels’, especially metal ores, in ‘food and live animals’, especially meat and meat products, and in ‘manufactured goods classified chiefly by material’, especially iron, steel, non-ferrous metals and metals products, by 10.0%, 7.4% and 4.8%, respectively.

In year-on-year comparison, import prices increased by 19.2% (after adjustment by 22.1%). The growth in prices of ‘mineral fuels, lubricants and related materials’, i.e. gas, petroleum, petroleum products, electricity and coal, by 148.6%, 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 21.6%, 19.9% and 14.6%, respectively.

“In March 2022 export and import increased in month-on-month comparison by 4.7% and 7.0%, respectively. In year-on-year comparison, export and import prices increased by 13.2% and 19.2%, respectively. Significantly grew export and import energy prices, in year-on-year comparison approximately by 150%”, 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 97.9% (98.8% in February). The lowest value of the terms of trade was reached in ‘mineral fuels, lubricants and related materials’ (94.1%). The highest value of the terms of trade was reached in ‘food and live animals’ (101.5%).

In year-on-year comparison, the terms of trade reached the value of 95.0% (96.8% in February). The lowest value of the terms of trade was reached in ‘beverages and tobacco’ (89.1%). The highest value was reached in ‘crude materials, inedible, except fuels’ (118.9%).

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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: 013012-22 Import and Export Price Indices in the Czech Republic (month periodicity)
https://vdb.czso.cz/vdbvo2/faces/en/index.jsf?page=statistiky#katalog=31781
Specific methodical notes: The data published in the News Release are final data.
Next News Release shall be published on: 10 June 2022