Export and import price indices - December 2012

External trade prices falling after long period of growth, y-o-y

In December 2012, export prices decreased by 0.7%, import prices by 1.1%, month-on-month. Export prices fell by 0.7%, import prices by 0.6%, year-on-year. The terms of trade figures reached 100.4%, m-o-m, and 99.9%, y-o-y. Export prices increased by 2.9%, import prices by 4.2%, the terms of trade figures reached 98.8%, year 2012 average compared to year 2011 average.


Month-on-month comparison:

Exports: export prices decreased by 0.7% in December (+0.9% in November). The change of the total m-o-m export price index was driven mainly by a 0.7% price drop in ‘machinery and transport equipment’. Among important sections prices fell in ‘mineral fuels, lubricants and related materials’ (-2.4%), ‘miscellaneous manufactured articles’ (-0.9%), ‘manufactured goods classified chiefly by material’ (-0.6%) and ‘chemicals and related products’ (-0.5%). Prices were rising by 0.1% in ‘crude materials, inedible, except fuels’.

Imports: import prices decreased by 1.1% (+0.9% in November). The change of the total m-o-m import price index was driven mainly by a 3.1% price drop in ‘mineral fuels, lubricants and related materials’. Among important sections price drop was recorded in ‘machinery and transport equipment’ (-1.1%), ‘manufactured goods classified chiefly by material’ (-0.7%) and ‘chemicals and related products‘ (-0.5%). Significant price growth of 0.5% was registered in food and live animals’.

The terms of trade figures slightly rose to 100.4% (100.0% in November). Highest values of the terms of trade figures, among important sections, were recorded in ‘crude materials, inedible, except fuels’ (102.2%), ‘mineral fuels, lubricants and related materials’ (100.7%) and ‘machinery and transport equipment’ (100.4%). Significant negative values of the terms of trade figures reached ‘food and live animals’ (98.8%) and ‘miscellaneous manufactured articles’ (99.4%).


Year-on-year comparison:

Exports: export prices decreased by 0.7% (+0.3% in November), premier drop after seventeen months of growth. The change of the total y-o-y export price index was driven mainly by a 0.9% price drop in ‘machinery and transport equipment’. Among important sections, prices decreased in ‘mineral fuels, lubricants and related materials’ and ‘manufactured goods classified chiefly by material’ by 7.9% and 1.8%, respectively. Significant price growth was recorded in ‘chemicals and related products’ (+4.6%), ‘food and live animals’ (4.6%), ‘crude materials, inedible except fuels’ (+1.9%) and ‘miscellaneous manufactured articles’ (+0.4%).

Imports: import prices decreased by 0.6% (+1.3% in November), first drop after thirty-one months. Change of the total y-o-y import price index came mainly from a 12.9% price drop in ‘crude materials, inedible, except fuels’. Among important sections, prices fell in ‘manufactured goods classified chiefly by material’ (-1.7%), ‘miscellaneous manufactured articles’ (-1.5%) and ‘machinery and transport equipment’ (-1.2%). On the contrary, significant price drop growth registered in ‘food and live animals’ (+6.6%), 'chemicals and related products’ (+2.1%) and ‘mineral fuels, lubricant and related products’ (+1.4%).

The terms of trade rose to 99.9% (99.0% in November) and they have stayed in negative values for the thirty-seventh straight month. Among important sections, negative values of the terms of trade figures reached ‘mineral fuels, lubricants and related materials' (90.8%), ‘food and live animals’ (98.1%) and ‘manufactured goods classified chiefly by material’ (99.9%). Positive values of the terms of trade figures, among important sections, reached ‘chemicals and related products’ (102.4%), ‘miscellaneous manufactured articles’ (101.9%) and ‘machinery and transport equipment‘ (100.3%).


Trend in 2012

For the whole year 2012, export prices increased by 2.9% (+1.7% in 2011), import prices increased by 4.2% (+4.3 in 2011).

Exports: among important sections, prices grew in ‘chemicals and related products’ (+4.8%), ‘miscellaneous manufactured articles’ (+4.0%), ‘food and live animals’ (+3.9%), ‘crude materials, inedible, except fuels’ (+3.5%) and ‘machinery and transport equipment‘(+2.8%). ‘mineral fuels, lubricants and related materials’ (+13.0%). Biggest price drop was registered in ‘mineral fuels, lubricants and related materials’ (-2.4%).

Imports: prices increased significantly in ‘mineral fuels, lubricants, and related materials’ (+15.7%; +24.4% in 2011), ‘food and live animals’ (+6.7%), ‘chemicals and related products’ (+3.6%), and ‘machinery and transport equipment’ (+2.7%). Prices fell only in ‘crude materials, inedible, except fuels’, by 2.6%.

The terms of trade figures in total reached negative value of 98.8% in 2012 (97.5% in 2011), they have stayed in negative values for three years.

Czech Statistical Office has been preparing a revision of external trade price indices.
From January 2013, export and import price indices will be calculated using new weightening scheme based upon External trade statistics data from year 2010 and implementing new price base y. 2010 average = 100. New indices will be chained to existent time series (2005 average = 100) thus enabling continuation of current time series. Hitherto published indices will not be revised.

Data release for January 2013 will be postponed one week until 22 ^nd March 2013, according to Catalogue of Products.


Analysis - External trade price indices development in Q4 2012 and in the year 2012

Notes:
Responsible manager of the CZSO: Jiří Mrázek, 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: 15th calendar day after the reference month
Related publications: 720144-12 Import and Export Price Indices in the Czech Republic
/csu/czso/export-and-import-price-indices-in-the-czech-republic-2012-1y6dxg5090
Specific methodical notes: The data released are final.
Next News Release: 22 March 2013

Not edited for language.

Published: 15.02.2013
The data are valid as of the release date of the publication.