FIRST RELEASE		CROATIAN BUREAU OF STATISTICS 10000 ZAGREB, ILICA 3, PHONE: +385 1 4806-111, P.O.B. 80, CROATIA ISSN 1334-0565
YEAR: XLIII.	ZAGREB, 1 MARCH, 2007		NUMBER: 4.2.3/4.
				OBLIGED TO NOTIFY DATA SOURCE

EXPORT AND IMPORT PRICE INDICES OF THE REPUBLIC OF CROATIA

Fourth quarter of 2006¹⁾

1.       EXPORT AND IMPORT PRICE INDICES, ACCORDING TO NKD 2002.

	X. – XII. 2006. Ø 2005.
	Exports		Imports
	In kuna	In US $	In kuna	In US $
Total	105,6	109,9	97,3	101,5
A    Agriculture, hunting and forestry	100,9	105,7	98,4	103,1
B    Fishing	109,4	117,8	116,2	120,9
C    Mining and quarrying	139,7	144,3	108,2	113,5
D    Manufacturing	104,4	108,7	96,3	100,3
15  Manufacture of food products and beverages	104,4	109,3	107,1	111,9
16  Manufacture of tobacco products	69,5	72,4	91,3	90,1
17  Manufacture of textiles	100,0	104,3	97,4	101,4
18  Manufacture of wearing apparel; dressing and dyeing of fur	109,3	113,8	83,3	86,2
19  Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear	99,5	103,5	96,2	99,8
20  Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials	97,3	101,1	105,5	109,9
21  Manufacture of pulp, paper and paper products	102,6	106,9	85,5	89,0
22  Publishing, printing and reproduction of recorded media	91,0	94,5	105,5	110,2
23  Manufacture of coke, refined petroleum products and nuclear fuel	114,9	119,9	106,6	111,6
24  Manufacture of chemicals and chemical products	112,8	117,0	97,2	100,6
25  Manufacture of rubber and plastic products	109,7	114,6	97,5	100,7
26  Manufacture of other non-metallic mineral products	102,9	107,2	85,5	88,4
27  Manufacture of basic metals	129,6	134,9	111,9	116,2
28  Manufacture of fabricated metal products, except machinery and equipment	90,9	94,8	92,3	96,2
29  Manufacture of machinery and equipment n.e.c.	110,7	115,4	95,4	99,4
30  Manufacture of office machinery and computers	74,3	78,4	86,7	90,7
31  Manufacture of electrical machinery and apparatus n.e.c.	108,3	111,6	88,0	91,4
32  Manufacture of radio, television and communication equipment and apparatus	80,0	83,2	89,1	92,8
33  Manufacture of medical, precision and optical instruments, watches and clocks	99,6	104,1	82,7	86,3
34  Manufacture of motor vehicles, trailers and semi-trailers	102,6	106,6	99,2	103,0
35  Manufacture of other transport equipment	102,2	106,4	99,9	104,4
36  Manufacture of furniture, manufacturing n.e.c.	94,1	97,8	88,8	97,3

1)    Provisional data

2.   EXPORT AND IMPORT PRICE INDICES, ACCORDING TO SITC SECTIONS, Rev.3

	X. – XII. 2006. Ø 2005.
	Exports		Imports
	In kuna	In US $	In kuna	In US $
0   Food and live animals	103,7	108,9	106,4	111,3
1   Beverages and tobacco	83,7	87,0	100,2	103,8
2 Crude materials, except fuels	116,1	120,8	94,1	97,8
3   Mineral fuels and lubricants	122,7	127,7	108,5	113,8
4   Animal and vegetable oils and fats	116,1	122,8	102,1	106,6
5   Chemical products	112,9	117,2	98,5	101,9
6   Manufactures classified by material	101,4	105,6	99,1	103,1
7   Machinery and transport equipment	101,3	105,3	92,6	96,5
8   Miscellaneous manufactured articles	102,9	107,2	87,3	91,9
9   Commodities and transactions, n. e. c.	-	-	-	-

3.   EXPORT AND IMPORT PRICE INDICES, ACCORDING TO NKD 2002.

	I. – XII. 2006.   Ø 2005.
	Exports		Imports
	In kuna	In US $	In kuna	In US $
Total	105,3	107,6	104,7	107,2
A    Agriculture, hunting and forestry	103,1	105,5	98,9	100,7
B    Fishing	119,4	122,3	174,5	178,8
C    Mining and quarrying	133,3	135,9	116,7	120,5
D    Manufacturing	104,2	106,4	103,4	105,8
15  Manufacture of food products and beverages	100,2	103,0	105,7	108,5
16  Manufacture of tobacco products	74,3	75,6	78,9	80,7
17  Manufacture of textiles	104,4	106,9	106,5	108,6
18  Manufacture of wearing apparel; dressing and dyeing of fur	106,9	108,9	101,6	103,0
19  Tanning and dressing of leather; manufacture of luggage, handbags,  saddlery, harness and footwear	100,8	102,7	105,1	106,6
20  Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials	97,9	99,5	112,3	114,7
21  Manufacture of pulp, paper and paper products	102,6	105,0	93,9	96,0
22  Publishing, printing and reproduction of recorded media	99,6	101,3	105,8	108,3
23  Manufacture of coke, refined petroleum products and nuclear fuel	119,8	122,5	108,4	111,3
24  Manufacture of chemicals and chemical products	111,5	113,5	106,2	107,7
25  Manufacture of rubber and plastic products	113,2	116,2	102,5	104,0
26  Manufacture of other non-metallic mineral products	102,6	105,3	99,7	102,2
27  Manufacture of basic metals	123,2	126,0	112,0	115,7
28  Manufacture of fabricated metal products, except machinery and equipment	95,0	97,0	105,0	107,8
29  Manufacture of machinery and equipment n.e.c.	104,0	107,0	105,3	107,8
30  Manufacture of office machinery and computers	77,9	79,7	92,8	94,9
31  Manufacture of electrical machinery and apparatus n.e.c.	114,9	118,4	103,0	105,3
32  Manufacture of radio, television and communication equipment and apparatus	65,1	65,0	100,6	102,7
33  Manufacture of medical, precision and optical instruments, watches and clocks	104,0	105,9	95,4	97,6
34  Manufacture of motor vehicles, trailers and semi-trailers	103,7	105,6	98,4	100,3
35  Manufacture of other transport equipment	109,4	111,9	102,3	104,8
36  Manufacture of furniture, manufacturing n.e.c.	91,8	93,6	98,8	102,8

4.       EXPORT AND IMPORT PRICE INDICES, ACCORDING TO SITC SECTIONS, Rev. 3

	I. – XII. 2006.   Ø 2005.
	Exports		Imports
	In kuna	In US $	In kuna	In US $
0   Food and live animals	101,1	103,8	106,6	109,2
1   Beverages and tobacco	86,1	88,0	98,2	100,5
2   Crude materials, except fuels	109,4	111,6	97,2	99,2
3   Mineral fuels and lubricants	124,7	127,4	115,0	118,6
4   Animal and vegetable oils and fats	114,5	119,1	108,5	111,5
5   Chemical products	111,8	113,8	106,5	108,1
6   Manufactures classified by material	102,8	105,2	105,8	108,9
7   Machinery and transport equipment	95,3	97,3	100,0	102,2
8   Miscellaneous manufactured articles	103,2	105,3	101,4	103,5
9   Commodities and transactions, n. e. c.	-	-	-	-

5.       AVERAGE EXCHANGE RATE OF US $ IN EXPORTS AND IMPORTS OF THE REPUBLIC OF CROATIA

	I. – XII. 2005.	I. – XII. 2006.	X. – XII. 2006.
Average exchange rate of 1 US $ in kuna for exports	5,9598	5,8242	5,7092
Average exchange rate of 1 US $ in kuna for imports	5,9546	5,8250	5,7152

NOTES ON METHODOLOGY

In this Release, the Central Bureau of Statistics publishes preliminary data on export and import prices for the Republic of Croatia.

The data source are export and import single administrative documents in the form of magnetic records, which the Central Bureau of Statistics takes over from the Customs Administration of the Ministry of Finance of the Republic of Croatia. These documents are also used for the regular observation of exports and imports of the Republic of Croatia.

Export and import price indices were calculated as unit value indices, in other words, indices of the change of the export and import value per quantity unit of exported/imported goods, that is, per kilogram as a uniform and comparable quantity unit for all goods.

Indices were calculated for export/import values in kuna and in US dollars separately.

Export/import values are converted into US dollars and into kuna according to the current daily exchange rate lists of foreign currencies defined by the Croatian National Bank, and that are valid on the day when customs duties are levied. Values are recalculated according to deliveries at the Croatian frontier, that is, exports on the basis of the FOB parity and imports on the basis of the CIF parity.

Besides effects caused by change in prices, these indices are also effected by inter-currency changes in relation to kuna and the US dollar, as well as by changes in the composition of goods that make one part of the Nomenclature of the Customs Tariff. Although the nomenclature of goods as most articulated as possible is used, still a very heterogeneous group of goods of various quality and unit price may be found within one unit, that is, within one code.

Indices were calculated according to the Fisher (the so called ideal) formula, which is a geometrical mean between the Laspeyres and Paasche formulae, as follows:

Laspeyres’ price index P_IL =

Σ p_nt  q_no

 x 100

Σ p_no q_no

Paasche’s price index P_IP =

S p_nt q_nt

 x 100

S p_noq_nt

The Fisher’s price index P_IF = Ö P_IL x P_IP

where:

t   period (o = base period, t = current period)

n single product

q quantity of products

p unit price of products.

Excluded from the price index calculation are parts of products that are, according to the special regulations of the Customs Administration, classified in the same tariff unit as a final product; groups of products of the Customs tariff: 71, 88, 89, 93, 99, products with the unit value that deviates from the average value by more than +/- 2d as well as products whose single index cannot be found within the interval. Due to the mentioned exclusions, the list of goods for which indices are calculated is not stable, that is, it is different in each quarter. The change in the list of goods included affects the given indices.

Since 1 January 2004 the new methodology has been in use in the calculation of price indices. It is different from the previous one in the following:

-   the interval for the exclusion of products whose single price index falls outside of the interval 20>p1/p0>500 has been expanded

-   the calculation includes products exported or imported on the basis of inward or outward processing

-   average values of excluded products have been imputed

-   weight is defined as a structure of export/import values.

It must be pointed out that the process of excluding the products is repeated at each data processing. Since data on previous periods are changed in the course of a year, there may be certain aberrations from previously published data. The calculation of the annual price indices by using the most comprehensive data resulted in the high improvement of their quality.

The basic methodological principles for the calculation of export/import prices can be found in the publication titled Methods Used in Computing the United Nations Price Indexes for External Trade, Volume I, Statistical Papers, Series M No. 82, UN, 1991, as well as in the materials titled Statistics on the Trading of Goods, User Guide, Annex 8, Foreign Trade Indices, Methodology and Sources, Eurostat.

Data in this Release are considered provisional, since the used method is a subject of further verification and development.

Abbreviations

CIF              cost, insurance and freight

n. e. c         not elsewhere classified

FOB            free on board

NKD 2002.  National Classification of Activities, 2002 version
SITC Standard International Trade Classification

US $            US dollar

Symbols

-  no occurrence