Data released by the Central Bureau of Statistics (CBS) show that the import price indices (excluding ships, aircraft, fuels and diamonds), decreased by 4.7% in the first quarter of 2015, continuing a decrease of 2.4% in the last quarter of 2014 and continuing a decrease of 0.9% in the third quarter of 2014.
The export price indices (excluding ships, aircraft and diamonds), decreased by 0.1% in the first quarter of 2015. This is the fifth consecutive quarter of decrease in this index.
The foreign trade price indices are calculated in U.S. dollars, so they are also affected by changes in the value of the dollar against other currencies in which transactions are conducted imports and exports of goods.
Imports are valued c.i.f., and exports are valued f.o.b.
Import price indices decreased by 8.4% in the first quarter of 2015, continuing a decrease of 5.6% in the last quarter of 2014 and continuing a decrease of 1.4% in the third quarter of 2014.
Detailed data by import destinations show that in the first quarter of 2015 price import indices of fuels fell by 25.7%, import price index of diamonds (raw and polished) fell by 5.9%, import price index of investment goods (excluding ships and aircraft) fell by 5.0%, import price index of raw materials (excl. diamonds and fuels) fell by 4.9% and import price index of consumer goods fell by 3.9%.
Import price index of raw materials (excl. diamonds and fuels) decreased by 4.9% in the first quarter of 2015, continuing a decrease of 3.0% in the last quarter of 2014 and continuing a decrease of 1.1% in the third quarter of 2014. Detailed data indicate a decrease in most of the price index of raw materials (excl. diamonds and fuels) import components: import price index of rubber and plastics (-10.3%), import price index of wood and its products (-9.5%) and import price index of iron and steel (-6.9%).
Import price index of consumer goods deceased by 3.9% in the first quarter of 2015, continuing a decrease of 1.4% in the last quarter of 2014 and continuing a decrease of 0.7% in the third quarter of 2014.
Import price index of non-durable goods (food, beverages and medicines, clothing and footwear and house-hold utensils) decreased by 3.8% in the first quarter of 2015. Most of the decrease was recorded in import price index of food beverages and medicines (-4.2%). Import price index of durable goods (furniture and electrical equipment and transport equipment) decreased by 3.7% in the first quarter of 2015. Most of the decrease was recorded in import price index of transport equipment (-6.1%).
Import price index of investment goods (excluding ships and aircraft) fell by 5.0% in the first quarter of 2015, continuing a decrease of 1.6% in the last quarter of 2014 and continuing a decrease of 1.1% in the third quarter of 2014. Detailed data indicate that import of transport equipment point to a drop of 6.5%, continuing a decrease of 2.5% in the last quarter of 2014. Import of machinery and equipment price index (63% of investment imports), fell by 4.1% in the first quarter of 2015.
Import price index of fuels decreased by 25.7% in the first quarter of 2015, continuing a decrease four consecutive quarters.
Import price index of diamonds (raw and polished) decreased by 5.9% in the first quarter of 2015, continuing a decrease of 3.3% in the last quarter of 2014.
Export price index of goods increased by 3.0% in the first quarter of 2015, after three consecutive quarters in which there was a decrease.
Export price index of manufacture mining & quarrying (excl. working diamonds) decreased by 0.2% in the first quarter of 2015, continuing five consecutive quarters in which there was a decrease.
Export price index of mining and quarrying decreased by 2.5% in the first quarter of 2015.
Export price index of manufacture (excluding mining & quarrying and working diamonds) decreased by 0.2% in the first quarter of 2015, continuing five consecutive quarters in which there was a decrease.
Breakdown of Price Indices of Manufacture Exports, by Technological Intensity
Export price index of manufacture in high technology industries decreased by 0.2% in the first quarter of 2015.
Detailed data by industries point to a drop in price index of manufacture of pharmaceutical products exports (-3.9%) and in price index of manufacture of air and spacecraft and related machinery exports (-0.5%). However, price index of manufacture of computer, electronic and optical products exports increased by 2.1%. High technology industries constitute about 42% of total manufacture exports (excl. diamonds).
Export price index of manufacture in medium-high technology industries increased by 0.8% in the first quarter of 2015, after a decrease of 4.9% in the last quarter of 2014.
Detailed data by industries, point to an increase in price index of manufacture of chemical and chemical products exports (1.9%) and in price index of manufacture of electrical equipment exports (1.9%). However, price index of manufacture of other transport equipment exports decreased by 6.4%. Medium-high technology industries constitute about 37% of total manufacture exports (excl. diamonds).
Export price index of manufacture in medium-low technology industries decreased by 6.0% in the first quarter of 2015, continuing a decrease of 1.1% in the last quarter of 2014. Detailed data by industries point to a decrease in price index of refined petroleum products exports (-13.8%) and in price index manufacture of non-metallic mineral products exports (-8.2%). Medium-low technology industries constitute about 14% of total manufacture exports (excl. diamonds).
Export price index of manufacture in low technology industries decreased by 0.5% in the first quarter of 2015, continuing a decrease of 2.9% in the last quarter of 2014. Detailed data by industries, point to a decrease in price index of printing and reproduction of recorded media exports (-5.0%), in price index of manufacture of wood and of products of wood and cork, of articles of straw and plaiting materials exports (-4.1%) and price index of manufacture of food products exports (-1.7%).
However, price index of manufacture of wearing apparel exports increased by 5.9%. Low-technology industries constitute about 7% of total manufacture exports (excl. diamonds).
Export price index of working of diamonds increased by 11.4% in the first quarter of 2015, continuing an increase of 4.8% in the last quarter of 2014.
Price indices of agricultural, forestry and fishing exports increased by 3.7% in the first quarter of 2015, after a decrease of 0.3% in the last quarter of 2014. Export price index of growing of non-perennial crops increased by 12.9%. However, export price index growing of perennial crops decreased by 3.6%.
Price indices in goods by country groups in the first quarter of 2015
Import price index of goods (excluding ships, aircraft, and diamonds), as stated, decreased by 8.5% in the first quarter of 2015.
Detail according to country groups shows that import price index from Other country group decreased by 17.4%, following a decrease of 14.3% in the last quarter of 2014, import price index from EU countries decreased by 6.4%, import price index from Asian countries decreased by 4.3% and Import price index from USA decreased by 3.4%.
Export price index of goods (excluding ships, aircraft, and diamonds), as stated, decreased by 0.1% in the first quarter of 2015. Detail according to country groups shows that export price index to EU countries decreased by 3.2% in the first quarter of 2015, continuing a decrease of 3.8% in the last quarter of 2014 and export price index to Asian countries decreased by 0.5% in the first quarter of 2015.
However, export price index to Other country group increased by 5.7% in the first quarter of 2015 and export price index to USA increased by 0.6% in the first quarter of 2015.
