Manufacturing output prices almost 1 percent up in February

© Hollandse Hoogte / Frans Lemmens luchtfotografie
Statistics Netherlands (CBS) reports that prices of Dutch-manufactured products were on average 0.9 percent up in February 2020 year-on-year. In the previous month, prices were 2.2 percent up.

Producer prices
YearMonthchange (year-on-year % change)
2016March-5.4
2016April-5.9
2016May-5.3
2016June-4.5
2016July-4.2
2016August-2.2
2016September-0.7
2016October1.5
2016November1
2016December4.4
2017January7
2017February8.6
2017March7.7
2017April7.5
2017May4.9
2017June3
2017July3.1
2017August3.6
2017September4.1
2017October2.8
2017November3.8
2017December2.1
2018January1.5
2018February0.3
2018March0.6
2018April1
2018May3.7
2018June5
2018July5.4
2018August5.2
2018September4.8
2018October5.3
2018November2.7
2018December0.6
2019January1
2019February2.1
2019March2.6
2019April3.3
2019May2
2019June0.4
2019July0.1
2019August-0.8
2019September-0.7
2019October-1.5
2019November0.2
2019December2.9
2020January2.2
2020February0.9

Crude oil price decrease

In February 2020, the crude oil barrel price stood at almost 51 euros, 10.5 percent down on February 2019. In January 2020, the price of a barrel of crude North Sea Brent oil was over 57 euros, approximately 9 percent higher than in January 2019.

Output prices are strongly affected by crude oil price developments. In February, prices of petroleum derivatives decreased by 6.6 percent year-on-year. Prices were up by 8.2 percent in January.

In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 1.5 percent lower in February than in the same month last year. In January, prices decreased by 2.0 percent year-on-year.

Prices in most sectors of manufacturing were higher in February 2020 than in the same month last year.

Producer prices manufacturing by sector*, February 2020
Categoriy% change (year-on-year % change)
Food products4.6
Machinery2.6
Metal products2.5
Electronic products1.8
Cars1.6
Rubber and plastic0.5
Chemical products-1.5
Petroleum products-6.6
*Altogether, the eight industries referred to account for almost 80 percent of the total Dutch manufacturing industry

Prices of manufactured products decreased in February

Manufacturing output prices fell by 0.7 percent in February relative to January. They decreased by 0.6 percent on the domestic market and by 0.7 percent on the export market.

Index producer prices
YearMonth(2015=100) (2015=100)
2016March95.5
2016April96
2016May97.2
2016June98.1
2016July97.7
2016August97.6
2016September98.1
2016October99.5
2016November99.3
2016December101
2017January102.2
2017February102.9
2017March102.8
2017April103.2
2017May102
2017June101.1
2017July100.7
2017August101.1
2017September102.1
2017October102.3
2017November103.1
2017December103.1
2018January103.7
2018February103.2
2018March103.5
2018April104.2
2018May105.7
2018June106.1
2018July106.2
2018August106.4
2018September107.1
2018October107.7
2018November105.9
2018December103.7
2019January104.7
2019February105.3
2019March106.2
2019April107.7
2019May107.9
2019June106.5
2019July106.3
2019August105.5
2019September106.1
2019October106
2019November106.1
2019December106.7
2020January107
2020February106.3

The figures for the reporting month of February do not yet reflect the effects of the COVID-19 crisis. However, the coronavirus outbreak in China did (possibly) have a downward effect on the crude oil prices in February.

The figures in this publication are provisional and may be revised upwards or downwards.

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