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Import prices in industry

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National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: STATISTICS AUSTRIA

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Name of indicator: Import price index.

The main purpose is to measure price changes of detailed product groups in foreign trade. In the European sample scheme only imports from outside the euro area are considered. All price-determining characteristics of products are taken into account, including rebates, service conditions, guarantee conditions and transport provided.

23 May 2025

The import price index measures development in the cif-prices of imported goods. The following price determining variables are taken into account:

  • Product Description (name of the product, brand name, type, number of the item, technical and other specifications): Statistics Austria is interested in typical products (2 – 4) of the importers’ CN 8-digits. They should be regularly imported and stay the same for a longer period (between 1 and 2 years) of time. In addition selected products are required to have long-term significance for transactions.
  • Country Description: In the European sample scheme only the country of origin is relevant for the imported good. It must be a country outside the euro area.
  • Method of transport: All means of transport of the imported goods are requested.
  • Unit of Quantity: The price of the imported good should belong to the unit of quantity.
  • Terms Of Delivery/Terms Of Payment
  • Price: cif-prices are requested on a monthly basis. They should correspond to the required date (15 of the respective month) or be near to the required date, excluding all duties and taxes on the goods and services respectively trade and transport margins within the country. If no comparable contract was concluded in the middle of the month, the price quotation should refer to a comparable purchase made at the date closest to the reference date. It is important to have comparable products in order to calculate pure price changes. The quoted good should be based on the same quality, quantity and other price-determining factors (for example terms of delivery/terms of payment, etc.).
  • Comments on Changes: If there is a change in the product description of a specific good, respondents should give detailed information for calculating only pure price changes.
  • Contact Person (telephone number, e-mail)

Reporting unit: The reporting unit is in most cases the enterprise itself, but it may also be an establishment of a multinational.

Observation unit: Establishment (production plant as a local kind of activity unit).
In case of multi activity enterprises also secondary activities are included.

Population of all importing enterprises registered in foreign trade statistics for the 8 specific 4-digit CPA (see 3.3.).

The survey does not cover imports from the euro area.

A particular day during the reference month (15th of each month).

The import price index satisfies the principle of accuracy, as it reflects a true picture of the development of import prices within a certain economic activity.

The following issues are important for the accuracy of the import price indices:

  • Representativeness of the sample (see 13.2.).
  • Precise compilation of the index, this is ensured due to compiling geometric averaged indices for the elementary aggregate (CN 8-digit) and weighted averaged indices for all higher level aggregates.
  • Unit and item non response (see 13.3.).
  • Quality adjustment if products are changing; due to  the identification and elimination of quality changes it is ensured that exclusively the pure price development is showed.

Preliminary results are released after 45 days (t+45), final results are released after 75 days (t+75).

Indices.

Import price indices are Laspeyres indices and they are based on the concept of a fixed basket of goods, weighting scheme and fixed performance of the chosen commodities. Changes (new product, change of quality, different selling conditions, etc.) have to be integrated into the computation of the index without affecting the continuity of the index series.


The part of the price difference to the previous month that is caused by the difference in quality has to be eliminated:

  • Overlap pricing;
  • Matched model approach;
  • Expert estimates.

New price quotations that show no significant change of quality and no considerable price difference in comparison to its predecessor are incorporated directly into the index calculation.
Index compilation:
The calculation of the Import Price Index was done in 2 steps:

  1. At the micro level the computation is based upon the method of price relatives, where the current price of each observation is compared to the 2021 average price. Out of all the price relatives for one commodity (CN 8-digit) an unweighted geometrically averaged price relative was calculated.
  2. Subsequently at the macro level, these price relatives are aggregated with their weights to the corresponding CPA 4-digits using the Laspeyres formula.

At the CN 8-digit level price relatives are aggregated with their weights to the corresponding CPA 4-digits using the Laspeyres formula. Weights come from the foreign trade statistics (Intrastat, Extrastat).

Type of source:  Statistical sample survey.

Frame on which the source is based: The product sampling is drawn on foreign trade data from Intrastat and Extrastat. Intrastat and Extrastat indicate import values for detailed groups of commodities, namely at the 8-digit level of the Combined Nomenclature (CN). In a second step a representative enterprise sample is determined on the basis of the Business Register (UR-“Unternehmensregister").

Sample or census:  In the case of import price indices the sample (products, reporting units) is drawn from the foreign trade statistics (Intrastat, Extrastat) as a concentrated sample.
First, the sample of product groups is drawn.
Second, the sample of enterprises is drawn.

Criteria for stratification: CN8 headings

Threshold values and percentages: The selection of products and enterprises was done for the 8 CPA 4-digits of the European sample scheme by the following multi-step procedure (cut-off sampling):

  • Selection of products with a relatively high import value (source: foreign trade statistic – ISIS, Statistical data bank).
  • Selection of enterprises importing these selected products (source: foreign trade statistics – Host, mainframe system in ST.AT)

The product sampling based on the foreign trade data of INTRASTAT and EXTRASTAT is carried out on import values for detailed groups of commodities, namely at the 8-digit level of the Combined Nomenclature (CN). All CN 8-digits within the 8 CPA 4-digits have been used as a frame for selecting representative commodities. From each 4-digit CPA the largest CN 8-digits are selected until the chosen coverage of 70 % is reached. That means the CN 8-digits have been sorted in descending order of import value per CPA 4-digit, summed up and cut-off at an import value equal to 70 % of the CPA 4-digit total.
The foreign trade statistics are also the framework for establishing the sample of enterprises. A filter process took place in the following way: enterprises have been sorted in descending order of import value per selected CN 8-digit, summed up and cut-off at an import value equal to 70 % of the CN 8-digit total. Finally, in order to keep the response load in data-collection within reasonable limits only the top 5 enterprises of each CN 8-digit have been included in the sample on a permanent basis.
Sample size: the basket of goods consists of  36 representative product groups which are surveyed from 106 reporting units.

Frequency of updating the sample: Every five years a new sample is drawn.

Transmission to Eurostat is carried out monthly. There is no national dissemination.

Timeliness:

According to the release calendar the European Sample Scheme indices are published 45 days after the end of the reference month (provisional data) and 75 days after the end of the reference month (final data).

Timetable of data collection:

  1. Reporting units get questionnaires between the 14th and 15th each month.
  2. The deadline for replies is the 10th of the following month.
  3. In particular cases (for example illness of the respondent) it is possible to extend slightly the deadline for replies.

Austria applies the same statistical concepts in its entire national territory.

Time series for CPA 4-digits are comparable over time.