Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  June 06, 2011 09:24:46

CR - Foreign trade in April without significant changes


Foreign Trade - April 2011

According to preliminary data of Statistics border in April year on year at current prices, exports rose by 14.8% and imports by 16.8%. The trade surplus of CZK 12.6 billion was by CZK 1.5 billion lower.

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According to preliminary data of border statistics, seasonally adjusted exports rose by 1.6% and imports by 2.2%. The development trend shows increasing exports by 1.0% and imports by 0.9%.

In comparison to current prices, exports by 14.8% (CZK 29.6 billion) and imports by 16.8% (31.1 billion CZK). Foreign trade turnover grew by 15.8% (60.7 billion) to CZK 445.3 billion CZK (highest April sales value since the Czech Republic).Due to the appreciation of CZK against the two major currencies, external trade grew faster when converted into euros (exports +19.7% and imports by 21.7%) and in particular the USD (exports by 28.9% and imports by 31.1%) than trade expressed in Czech crowns.

The trade balance showed a surplus of CZK 12.6 billion, which was by CZK 1.5 billion lower. Trade surplus rose for machinery and transport equipment '(CZK 6.5 billion) and miscellaneous manufactured articles' by CZK 1.0 billion. On the contrary fell on raw materials (by CZK 1.5 billion), and semi-finished materials (by CZK 0.7 billion) and beverages and tobacco (by CZK 0.1 billion). Deficit was noted in mineral fuels (by CZK 3.9 billion), chemical products (by CZK 2.2 billion) and food and live animals (by CZK 0.3 billion).

Exports of machinery and transport equipment increased by 19.5% (20.5 billion CZK). Increment was mainly exports of computers (by CZK 6.4 billion), telecommunications equipment (by CZK 3.7 billion) and road vehicles' (CZK 3.5 billion). Imports of machinery and transport equipment increased by 18.2% (14.0 billion CZK), most of which increased imports of computers (by CZK 4.1 billion), road vehicles' (CZK 2.2 billion) and machinery and equipment generally used in industry (by CZK 2.1 billion). Imports of mineral fuels rose by 24.5% (CZK 4.6 billion). Oil imports rose in value by 14.1% in terms of volume decreased by 12.8%. Imports of natural gas has increased in value by 16.8% in value and fell by 2.4%.

The trade balance with EU member states showed a surplus 56.2 billion CZK, which was by CZK 7.6 billion higher. Trade deficit with countries outside the EU increased yoy by CZK 9.1 billion to 43.6 billion CZK. Surplus rose in trade with Germany by CZK 2.1 billion, France by 1.8 billion CZK and Slovakia by 0.6 billion CZK. Increased deficit in trade with China by CZK 7.6 billion and Russia by CZK 0.2 billion.

In January to April, exports grew by 19.9% ??and imports by 21.1%. The trade surplus amounted to 65.5 billion CZK, which meant the annual increase by CZK 4.0 billion. Trade balance improved especially in machinery and transport equipment, where the asset is increased by 31.1 billion CZK. Contrary, deepened trade deficit in mineral fuels by 16.2 billion CZK and chemical products by 9.4 billion CZK.

According to the methodology in the national balance of payments conceptbased on the concept of change of ownership between residents and non-trade balance showed a deficit of CZK 0.9 billion. Data on exports and imports of goods calculated using data for VAT under this methodology are given in Table 8

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According to sources CSO data were obtained from the dispatch and receipt of 98.4% from 98.4% 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.

Data in national measures of the methodology of balance of payments and national accounts are recalculated each month based on the data of external trade statistics in combination with data from the return value added tax. In the months when the data are not yet available tax returns are extrapolated data from previous periods. This methodology consists in adjusting the values ??of commodity transactions conducted by non-residents on their added value, ie the difference between the value of domestic purchases of goods for export or sale within the country in case of imports and the declared value at border crossings. While external trade statistics yet published in accordance with the international concept of the Parliament and the Council of the European Union is the movement of goods across the border, the balance of payments methodology emphasizes a change of ownership between residents and non-residents.

Source: CSO

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