Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  December 07, 2010 09:13:44

CR - Exports and imports in October without significant changes, surplus 15.3 billion


Foreign trade - October 2010


According to preliminary data, in October year on year at current prices, exports rose by 17.2% and imports by 19.4%. The trade surplus was up by CZK 1.1 bn lower and reached CZK 15.3 billion. Balance was negatively influenced by a larger trade deficit in mineral fuels by 1.7 billion CZK and chemical products by 1.6 billion CZK.

***

According to preliminary data, seasonally adjusted exports rose by 3.1% while imports decreased by 0.1%. The development trend shows increasing exports by 1.2% and imports by 0.1%.

In comparisonat current prices, exports grew by 17.2% (34.1 billion CZK) and imports by 19.4% (35.2 billion CZK). Imports grew faster than exports for the eighth month. Foreign trade turnover grew by 18.3% (69.3 billion) to CZK 448.1 billion CZK, but did not reach the highest level since October, the Czech Republic joined the EU (478.9 billion CZK in 2007). Appreciation of CZK against EUR on average 5.3% higher mean increases in exports and imports in euros than in the currency (by 23.5% and 25.8%), due to weakening of CZK USD in relation to an average of 1.2 %, the growth of exports and imports in dollar terms is lower (by 15.9% and 18.0%) than in the crowns.

The trade balance showed a surplus of CZK 15.3 bn, which was by CZK 1.1 billion lower. The deficit grew in trade with mineral fuels by 1.7 billion CZK and chemical products by 1.6 billion CZK, surplus declined by-products and materials by 0.4 billionCZK and machinery and transport equipment 'by CZK 0.1 billion. Surplus into a deficit of CZK 0.1 billion trade balance deteriorated with drinks and tobacco. Improving the balance was evident in consumer goods and industrial raw materials (surplus up by CZK 1.9 billion and CZK 0.1 billion) and food and live animals' (deficit down by CZK 0.6 billion).

Total exports of machinery and transport equipment grew by 18.2% (19.3 billion CZK). Higher exports were mainly computers (by CZK 6.1 billion), electrical machinery, apparatus and appliances' (CZK 3.7 billion) and road vehicles and telecommunications equipment (both by CZK 2.7 billion). Imports of machinery and transport equipment rose annually by 25.2% (CZK 19.5 billion), of which the largest increases were recorded for electrical machinery, apparatus and appliances' (CZK 9.7 billion), telecommunications equipment (3 , 6 billionCZK) and computers (by CZK 2.5 billion). Imports of mineral fuels rose by 19.3% (CZK 2.9 billion), mainly due to higher imports of natural gas (by 69.1% in value by 11.7%). Oil imports in value terms increased by 8.0% in terms of volume declined by 11.9%.

The trade balance with EU member states reached a surplus of CZK 58.2 billion, which was by CZK 11.4 billion higher. The trade gap with non-EU states increased by CZK 12.5 billion to 42.9 billion CZK. Surplus rose in trade with Germany by CZK 5.4 billion, the United Kingdom by CZK 1.9 billion and Slovakia by 1.6 billion CZK. Deficit turned into a surplus improved the trade balance with Poland by CZK 1.8 billion. The deficit grew in trade with China by CZK 9.4 billion, Korea by CZK 1.1 billion and Russia by CZK 0.7 billion. Surplus fell in trade with the Netherlands by 1.0 billion CZK.

Over the last twelve monthscompared with the previous twelve months, exports rose by 13.8% and imports by 14.3%. The trade balance showed a surplus of CZK 128.8 billion, which was by CZK 6.6 billion higher. Rise of the surplus was recorded in miscellaneous manufactured articles 'by CZK 21.3 billion, machinery and transport equipment' by CZK 5.4 billion and raw materials by 4.8 billion CZK. Deficit turned into a surplus improved balance of trade in animal and vegetable oils and fats by 3.0 billion CZK. Balance 'deteriorated (due deficit) for mineral fuels (by CZK 19.2 billion), food and live animals (by CZK 1.8 billion) and chemical products (by CZK 1.1 billion). The decline in surplus recorded trade in goods classified chiefly by material '(by CZK 5.6 billion) and beverages and tobacco (by CZK 0.4 billion).

Over the last twelve months, increased foreign trade with EU countries 96.0 billion to CZK 566.2 billion CZK, with non-EU deficit widened to 89.4 billion CZK and reached 437.4 billion CZK. Surplus rose in trade with France by 15.9 billion CZK, Italy by CZK 13.6 billion, the United Kingdom by 13.1 billion CZK, Slovakia 12.9 billion to CZK 11.9 billion to Germany Austria and CZK 9.5 billion CZK. Trade deficit with China by 58.3 billion CZK, Korea by 10.1 billion CZK, Azerbaijan 8.7 billion to CZK 8.0 billion for Thailand and Russia CZK 1.5 billion CZK.

In January-October exports increased by 16.0% and imports by 18.6%. The trade surplus decreased by 20.8 billion to CZK 111.6 billion CZK.

***

According to sources CSO data were obtained from the dispatch and receipt of 97.5% from 97.4% of companies obliged to report to the Intrastat system. Data for companies exempted from the reporting obligations in accordance with the amended Decree No. 201/2005 Coll. And for companies that failed to report were imputed. The imputation methods are based on data that the companies in the previous period and the data reported in tax returns from value added tax.

Source: CSO
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ČR - Vývoz i dovoz v říjnu bez výrazných změn, přebytek bilance 15,3 mld.Kč

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