For the whole year 2019 annual export prices and import prices increased by 0.9% and 0.3%, respectively, compared to those for 2018, and the terms of trade attained the value of 100.6%.

Month-on-Month Comparison

Export prices decreased by 0.2%, month-on-month (m-o-m) in December 2019. The fall in the monthly export price index was essentially affected by a decrease in prices of ‘manufactured goods classified chiefly by material’ by 0.6%. The biggest price fall was recorded in ‘mineral fuels, lubricants and related products’ by 2.0% and in ‘chemicals and related products’ by 0.7%. Prices of ‘food and live animals’ increased by 0.4%. Prices of ‘machinery and transport equipment’ remained unchanged.

Import prices decreased by 0.3%, m-o-m, in December 2019. The greatest effect on an overall fall in the monthly import price index was brought mainly by a decrease in ‘machinery and transport equipment’ by 0.3%. Prices decreased the most in ‘crude materials, inedible, except fuels’, ‘miscellaneous manufactured articles’ and ‘manufactured goods classified chiefly by material’ by 1.9%, 0.7% and 0.6%, respectively. On the contrary, prices grew in ‘food and live animals’ and ‘mineral fuels, lubricants and related materials’ by 2.6%, and 0.1%, respectively.

The terms of trade reached the value of 100.1%. The most positive values of the terms of trade were reached in ‘crude materials, inedible, except fuels’ (101.3%), ‘miscellaneous manufactured articles’ (100.7%) and ‘machinery and transport equipment’ (100.3%). The lowest negative values of the terms of trade were reached in ‘food and live animals’ and ‘mineral fuels, lubricants and related materials’ (identically 97.9%) and in ‘chemicals and related products’ (99.7%).

Year-on-Year Comparison

Export prices fell by 1.5%, year-on-year (y-o-y) (in November 2019 by 1.8%). The fall in the export price index was essentially affected by a decrease in prices of ‘manufactured goods classified chiefly by material’ by 4.2%. Prices decreased in ‘crude materials, inedible, except fuels’ by 14.5%, especially in metalliferous scrap, in ‘chemicals and related products’ and in ‘mineral fuels, lubricants and related materials’ by 3.4% and 2.5%, respectively. On the contrary, prices grew in ‘beverages and tobacco’ and in ‘miscellaneous manufactured articles’ by 1.4% and 0.7%, respectively.

Import prices decreased by 1.2%, y-o-y (they fell by 2.2% in November 2019). A fall in prices of ‘chemicals and related products’ by 6.3% had the strongest effect on the decrease of the annual import price index. Prices fell in ‘manufactured goods classified chiefly by material’ and in ‘mineral fuels, lubricants and related materials’ by 3.0% and 2.1%, respectively. The biggest price growth was recorded in ‘food and live animals’ by 8.2%.

The terms of trade decreased to the value of 99.7% (they reached 100.4% in November 2019) and after seven months diminished to negative values. The lowest values of the terms of trade were recorded in ‘crude materials, inedible, except fuels’ (87.0%), ‘food and live animals’ (92.1%) and ‘manufactured goods classified chiefly by material’ (98.8%). The most positive values of the terms of trade were reached especially in ‘beverages and tobacco’ (109.5%) and in ‘chemicals and related products’ (103.1%).

Trends in 2019

For the whole year 2019 compared to 2018, annual export prices rose by 0.9%, y-o-y (they fell by 0.3% in 2018) and import prices increased by 0.3%, y-o-y (they fell by 0.7% in 2018).

Out of the important groups of goods export prices increased in ‘food and live animals’, ‘machinery and transport equipment’ and in ‘manufactured goods classified chiefly by material’ by 1.7%,1.2% and 0.4%, respectively. Prices especially fell in ‘crude materials, inedible, except fuels‘ and in ‘mineral fuels, lubricants and related materials’ by 5.6% and 2.0%, respectively.

Import prices especially rose in ‘crude materials, inedible, except fuels’, ‘food and live animals’ and in ‘machinery and transport equipment‘ by 6.9%, 2.7% and 1.6%, respectively. Out of the important groups of goods price fall was registered in ‘mineral fuels, lubricants and related materials’ and ‘chemicals and related products’ by 4.7% and 0.9%, respectively.

In 2019 the terms of trade reached the total value of 100.6% (they stayed at 100.4% in 2018).

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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: 013014-19 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: 16 March 2020