Export and import price indices - March 2021

Export and Import Prices Increased

11.05.2021
Code: 013014-21
 

In March 2021 export and import prices increased month-on-month by 2.1% and 2.3%, respectively. The terms of trade reached the value of 99.8%. Export and import prices rose year-on-year by 2.5% and 1.6%, respectively. The terms of trade reached the value of 100.9%.

Month-on-Month Comparison
Export prices increased by 2.1% (after adjusting for exchange rate effects increased by 1.2%), month-on-month (m-o-m) in March 2021. The growth in the monthly export price index was essentially affected by an increase in prices of ‘machinery and transport equipment’ by 1.4%. Prices increased in all monitored sections, the highest price rise was recorded in ‘crude materials, inedible, except fuels’, especially waste paper, ‘mineral fuels, lubricants and related materials’, significantly petroleum products, and in ‘chemicals and related products’ by 6.5%, 5.6% and 5.3%, respectively.

Import prices increased by 2.3% (after adjusting for exchange rate effects by 1.2%), m-o-m, in March 2021. The greatest effect on an overall rise in the monthly import price index was brought mainly by an increase in ‘machinery and transport equipment’ by 1.4%. Prices grew in all monitored sections, the most in ‘mineral fuels, lubricants and related materials’, particularly petroleum and petroleum products, and in ‘crude materials, inedible, except fuels’ by 6.2% and 5.4%, respectively.

The terms of trade reached the value of 99.8%. The negative values of the terms of trade were reached in ‘food and live animals’ (98.1%) and in ‘mineral fuels, lubricants and related materials’ (99.4%). The highest positive values of the terms of trade were reached in ‘chemicals and related products’ (101.7%) and in ‘crude materials, inedible, except fuels’ (101.0%).

"In March, there was a slight month-on-month depreciation of the CZK to EUR and USD, which led to an increase in export prices by 2.1% and import prices by 2.3% compared to February 2021. The m-o-m and y-o-y comparison showed significant growth in the prices of waste paper. The year-on-year comparison indicated a significant increase in the prices of metalliferous ores and metal scrap, petroleum and petroleum products and electric current.” Vladimír Klimeš, Head of the Industrial and International Trade Prices Statistics Unit of the Czech Statistical Office, noted.

Year-on-Year Comparison
Export prices rose by 2.5%, year-on-year (y-o-y) (in February 2021 by 4.5%). The growth in the export price index was essentially affected by an increase in prices of ‘machinery and transport equipment’ by 1.6%. Prices increased the most in ‘crude materials, inedible, except fuels’, especially metal scrap and waste paper, by 25.8% and in ‘mineral fuels, lubricants and related materials’, particularly electric current and petroleum products, by 23.8%. Price fall was recorded in ‘miscellaneous manufactured articles’ by 2.2%.

Import prices increased by 1.6%, y-o-y (in February 2021 by 2.1%). The growth in prices of ‘mineral fuels, lubricants and related materials’, especially petroleum and petroleum products and electric current, by 31.3% 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 and metal scrap, by 15.5%. The prices decreased the most in ‘miscellaneous manufactured articles’ by 3.7%.

The terms of trade reached to the value of 100.9% (102.4% in February 2021) and for the thirteenth month in a row remained in positive values. The highest positive values of the terms of trade were reached in ‘crude materials, inedible, except fuels’ (108.9%). On the contrary, the lowest negative values of the terms of trade were recorded in ‘mineral fuels, lubricants and related materials’ (94.3%).

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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@czso.cz
Contact person: Vladimír Klimeš, Head of the Industrial and International Trade Prices Statistics Unit, phone: (+420) 274 054 102, e-mail: vladimir.klimes@czso.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://www.czso.cz/csu/czso/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 June 2021


Related analysis: Development of export and import price indices - 1. quarter of 2021

  • aizc051121.docx

  • Annexes:
  • Table 1 Export and Import Price Indices
  • Table 2 Export and Import Price Indices (breakdown of increments of published and exchange rate adjusted indices – month-on-month, year-on-year)
  • Chart 1 Export and Import Price Indices (year-on-year changes)
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Published: 11.05.2021
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz