Manufacturing output prices below last year’s level

According to Statistics Netherlands (CBS), output prices of products manufactured in the Netherlands were 7.1 percent down in February 2016 from February 2015. In January year-on-year prices were 4.1 percent down. The price drop is more substantial than in the previous three months. The crude oil price and prices of petroleum derivatives plummeted again in February.

Selling prices
Selling prices
 % change
2012 M4.2
2012 A2.9
2012 M2.6
2012 J1.2
2012 J1.8
2012 A4.6
2012 S4.4
2012 O4.7
2012 N3.3
2012 D2.7
2013 J1.3
2013 F1.1
2013 M-0.9
2013 A-2.2
2013 M-1.6
2013 J0
2013 J-0.4
2013 A-2.3
2013 S-2.8
2013 O-3.5
2013 N-2.7
2013 D-1.7
2014 J-2.2
2014 F-3
2014 M-2.8
2014 A-1
2014 M-0.5
2014 J0.3
2014 J-0.7
2014 A-1.4
2014 S-1.6
2014 O-2
2014 N-3.7
2014 D-8
2015 J-10.6
2015 F-8.9
2015 M-6.7
2015 A-5.5
2015 M-4.9
2015 J-5.3
2015 J-6
2015 A-8.1
2015 S-9.2
2015 O-8.9
2015 N-6.9
2015 D-4.9
2015 J-4.1
2015 F-7.1

Lower oil prices and output prices

Since 2013, year-on-year oil prices have fallen almost continuously. In February, the barrel price of North Sea Brent oil was 30 euros, i.e. 42 percent below the price level recorded in February 2015. In January, the barrel price was 29 euros, i.e. 31 percent below the level recorded one year previously.

Year-on-year prices of petroleum derivatives slumped by nearly 38 percent in February 2016 and by more than 25 percent in January 2016. Evidently, prices of petroleum derivatives are directly affected by crude oil price developments. If petroleum price developments are not taken into account, manufacturing output prices were 2.6 percent down.

Prices of chemical, (basic) metal and food products were also down from twelve months previously. Year-on-year prices of rubber and plastic products and machinery on the other hand, rose marginally. Average prices of the automotive industry hardly changed.

Selling prices manufacturing by sector
Selling prices manufacturing by sector
 % change
Rubber and plastic2.2
Machine1.9
Cars-0.1
Metal products-0.4
Food products-2.5
Basic metal products-5.8
Chemical products-9
Petroleum products-37.8

Altogether, the eight industries referred to in the above text and the corresponding graph account for nearly 80 percent of total Dutch manufacturing industry.

Manufactured products cheaper in February than in January

Prices of manufactured products decreased on a month-to-month basis. In February 2016, output prices of manufactured products fell by more than 1 percent relative to January. Prices on the domestic and foreign market fell each by more than 1 percent.

Index selling prices
Index selling prices
 index
2012 M115.9
2012 A115.7
2012 M114.6
2012 J112.3
2012 J113.7
2012 A116.1
2012 S116.7
2012 O116.2
2012 N115.2
2012 D114.4
2013 J114.9
2013 F115.9
2013 M114.8
2013 A113.2
2013 M112.8
2013 J112.3
2013 J113.2
2013 A113.4
2013 S113.4
2013 O112.2
2013 N112.1
2013 D112.5
2014 J112.4
2014 F112.5
2014 M111.6
2014 A112.1
2014 M112.2
2014 J112.6
2014 J112.4
2014 A111.9
2014 S111.5
2014 O109.9
2014 N108
2014 D103.5
2015 J100.4
2015 F102.5
2015 M104.1
2015 A105.9
2015 M106.8
2015 J106.6
2015 J105.7
2015 A102.8
2015 S101.3
2015 O100.2
2015 N100.6
2015 D98.4
2015 J96.3
2015 F95.3