Export and import price indices - December 2010

Weakening of koruna increased m-o-m growth of external trade prices

In December 2010, export prices increased by 2.5% and import prices by 3.2%, month-on-month. Export prices rose by 2.3% and import prices by 5.9%, year-on-year. The terms of trade figures reached 99.3%, m-o-m, and 96.6%, y-o-y.
Comparing the average values over the year 2010 with the year 2009, export prices decreased by 1.0%, import prices increased by 2.0% and the terms of trade figures reached 97.1%.

Month-on-month comparison:

• Exports: export prices increased by 2.5% in December (+0.8% in November). The growth of the total m-o-m export price index came mainly from a 2.6% price growth in ‘machinery and transport equipment’. The prices increased in all observed sections. Among important sections, the prices in ‘chemicals and related products’ went up by 2.8%, ‘manufactured goods classified chiefly by material’ by 1.7% and ‘miscellaneous manufactured articles’ by 1.6%.
• Imports: import prices rose by 3.2% (+1.1% in November). Increase of the total m-o-m import price index was driven mainly by 9.9% price growth in ‘mineral fuels, lubricants and related materials’. Price grew in all observed sections, among important sections, growth was reported in ‘chemicals and related products’ (2.2%), ‘machinery and transport equipment’ (2.1%), ‘manufactured goods classified chiefly by material’ (2.0%), and ‘miscellaneous manufactured articles’ (1.9%).
• The terms of trade figures decreased to 99,3% (99.7% in November). Negative values of the terms of trade figures, among important sections, recorded prices in ‘mineral fuels, lubricants and related materials’ (95.2%) and ‘manufactured goods classified chiefly by material’ and ‘miscellaneous manufactured articles’ both identically 99.7%. On the contrary, positive values of the terms of trade figures reached ‘chemicals and related products’ (100.6%), ‘machinery and transport equipment’ (100.5%) and ‘crude materials, inedible, except fuels’ (100.3%).

Year-on-year comparison:

• Exports: export prices increased by 2.3% (+0.8% in November). Index was affected mainly by price growth in ‘manufactured goods classified chiefly by material’ by 4.8%. Among sections important in terms of weight, the price growths were recorded in ‘mineral fuels, lubricants and related materials’ (15.8%), ‘chemicals and related products’ (9.3%) and ‘food and live animals’ (7.9%). Price drops were recorded only in ‘machinery and transport equipment’ and ‘miscellaneous manufactured articles’ by 1.6% and 1.5%, respectively.
• Imports: import prices went up by 5.9% (+4.3% in November). The increase was supported by weakening of the koruna against dollar. The growth of the total y-o-y import price index came mainly from a 25.9% price increase in ‘mineral fuels, lubricants and related materials'. Price growths were also recorded in ‘crude materials, inedible, except fuels’ (37.2%), manufactured goods classified chiefly by material’ (6.3%), ‘food and live animals’ (5.4%), ‘chemicals and related products’ (3.1%) and ‘machinery and transport equipment’ (0.6%). Prices dropped only in ‘miscellaneous manufactured articles' (-1.0%).
• The terms of trade figures did not change and stayed on 96.6% and for the thirteenth month remained in negative values. The lowest values of the terms of trade figures recorded ‘mineral fuels, lubricants and related materials' (92.0%), ‘crude materials, inedible, except fuels’ (92.4%), 'machinery and transport equipment' (97.8%), ’manufactured goods classified chiefly by material’ (98.6%) and ‘miscellaneous manufactured articles’ (99.5%). On the contrary, significant positive values of the terms of trade figures were recorded in ‘chemicals and related products’ (106.0%) and ‘food and live animals’ (102.4%).

Year-on-year comparison:

• For the whole year 2010 export prices decreased by 1.0% (growth by 0.2% in 2009), import prices increased by 2.0% (drop by 3.5% in 2009) on average.
• Exports: export prices of ‘machinery and transport equipment' decreased by 3.1%, ‘miscellaneous manufactured articles’ by 2.8% and ’manufactured goods classified chiefly by material’ by 1.9%. The biggest growths were recorded for prices of ‘crude materials, inedible, except fuels’ by 26.9%, ‘chemicals and related products’ by 6.5% and ‘mineral fuels, lubricants and related materials’ by 4.8%.
• Imports: import prices of ‘mineral fuels, lubricants and related materials’ went up by 21.7%, ‘crude materials, inedible, except fuels’ by 9.5%, ’manufactured goods classified chiefly by material’ by 1.5% and ‘food and live animals’ by 0.3%. On the contrary, among important sections in terms of weight, decreases were registered in ‘miscellaneous manufactured articles’ by 2.8%, ‘machinery and transport equipment' by 1.1% and ‘chemicals and related products’ by 0.1%.
• The terms of trade figures in total reached negative value 97.1% in 2010 (103.8% in 2009). Drop rate of the terms of trade figures was growing in each quarter 2010, in the last quarter 2010 the terms of trade figures were 96,5%.

This press release was not edited for language.

Analysis - External trade price indices development in Q4 2010 and in the year 2010

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Notes:
Responsible manager of the CZSO: Jiri Mrazek, Department Director
Contact: Vladimír Klimeš, phone (+420) 274 054 102, e-mail: vladimir.klimes@czso.cz
Method of data collection: selective survey of the CZSO
End of data collection: Last calendar day of the month
Specific methodical notes: The data released are final.
Related publications: 7201-10 Import and Export Price Indices in the Czech Republic
Detailed (Internet: /csu/czso/export-and-import-price-indices-in-the-czech-republic-december-2010-tm2veah5zk
Next News Release: 15 March 2011

Published: 15.02.2011
The data are valid as of the release date of the publication.