In June 2021 export and import prices increased month-on-month by 0.6% and 1.2%, respectively. The terms of trade reached the value of 99.4%. Export and import prices rose year-on-year by 3.4% and 5.1%, respectively. The terms of trade reached the value of 98.4%.

Month-on-Month Comparison
Export prices increased by 0.6% (after exchange rate adjustment by 0.8%), month-on-month (m-o-m) in June 2021. The growth in the monthly export price index was essentially affected by an increase in prices of ‘manufactured goods classified chiefly by material’, especially iron and steel by 1.8%. The highest price rise was recorded in ‘mineral fuels, lubricants and related materials’, especially electricity, and ‘crude materials, inedible, except fuels’, especially wood and metal scrap, by 8.7% and 5.8, respectively. The prices decreased in ‘machinery and transport equipment’ by 0.4%.

Import prices increased by 1.2% (after exchange rate adjustment by 1.4%), m-o-m, in June 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 petroleum, petroleum products, electricity and gas by 9.3%. Prices grew the most in ‘crude materials, inedible, except fuels’, especially metalliferous ores, metal scrap and wood, and in ‘manufactured goods classified chiefly by material’, especially iron and steel, by 9.2% and 1.4%, respectively. The prices fell in ‘miscellaneous manufactured articles’ by 0.3%.

The terms of trade reached the value of 99.4% (99.7% in May 2021). The lowest negative values of the terms of trade were reached in ‘crude materials, inedible, except fuels’ (96.9%), ‘mineral fuels, lubricants and related materials’ (99.5%) and ‘machinery and transport equipment’ (99.5%). The highest positive value of the terms of trade was reached in ‘manufactured goods classified chiefly by material’ (100.4%) and ‘miscellaneous manufactured articles’ (100.3%).

“In June 2021, there was a month-on-month appreciation of the CZK to EUR and slight month-on-month depreciation to USD. In year-on year view, there was an appreciation of CZK to EUR and USD. Export and import prices increased by 0.6% and 1.2%, respectively compared to May 2021. In export and import, the significant growth of prices in ‘mineral fuels, lubricants and related materials’ and ‘crude materials, inedible, except fuels’ continued, which is especially evident in year-on-year comparison. The significant price growth is particularly evident in petroleum products, electricity, gas, iron, steel, metal scrap, and wood.” 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 3.4% (by 7.5% 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 ‘mineral fuels, lubricants and related materials’, especially electricity, petroleum products and gas, by 48.5%. Prices increased significantly in ‘crude materials, inedible, except fuels’, particularly metal scrap and wood, ‘chemicals and related products’ and ‘manufactured goods classified chiefly by material’, especially iron and steel by 48.3%, 12.7% and 5.8%, respectively. Price fall was recorded in ‘miscellaneous manufactured articles’, and in ‘machinery and transport equipment’ by 3.0% and 0.9%, respectively.

Import prices increased by 5.1%, y-o-y (by 9.7% after exchange rate adjustment). The growth in prices of ‘mineral fuels, lubricants and related materials’, especially petroleum, petroleum products, gas and electricity, by 97.2%, 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 ‘chemicals and related products’, and in ‘manufactured goods classified chiefly by material’, especially iron and steel, by 31.8%, 8.5% and 7.1% respectively. The prices decreased the most in ‘machinery and transport equipment’ and in ‘miscellaneous manufactured articles’ by 4.1% and 3.5%, respectively.

The terms of trade reached to the value of 98.4% (99.5% in May 2021). The lowest value of the terms of trade was reached in ‘mineral fuels, lubricants and related materials’ (75.3%). On the other hand, the highest value of the terms of trade was recorded in ‘crude materials, inedible, except fuels’ (112.5%).

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