The All-commodity group import index increased by 0.13 per cent in the fourth quarter of 2020. According to the National Bureau of Statistics, the increase was driven by an increase in the prices of base meals, boilers, machinery and appliances and products of chemical and allied industries.
The agency said, “However, the index was negatively affected by animal and vegetable fats and oils and other cleavage products (-1.06%), prepared foodstuffs; beverages, spirits and vinegar; tobacco (-0.66%) and plastic, rubber and articles thereof (-0.37%).” The agency also said that between October and November 2020, the All-commodity group import price index decreased by 0.23 per cent.
Boilers, machinery and appliances, prepared foodstuffs, beverages, spirits and vinegar, animal and vegetable fats and oil caused the decrease and between November and December 2020, the index grew by 0.36 per cent driven by increase in import prices of boilers, machinery and appliances as well as base metals and articles.
A fall in prices in the products of chemical and allied industries, mineral products and wood and articles of wood, wood charcoal and articles also negatively affected the All-commodity group index.