Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  8.4.2013 9:26:15

Czech Republic - Import and export in February further slow down surplus rises to 28.7 billion


According to preliminary data of border statistics in February year on year at current prices exports fell by 3.6% and imports by 4.4%. A surplus CZK 28.7 billion, which was an increase of CZK 1.0 billion higher.

According to preliminary data of border statistics, seasonally adjusted exports fell by 0.6%, while imports rose 0.6%. The development trend shows a decline in exports by 0.2% and imports by 0.3%.

Y in current prices, exports decreased by 3.6% (CZK 9.0 billion) and imports by 4.4% (CZK 10.0 billion). Export companies based in the Czech Republic decreased by 3.7% (CZK 7.4 billion) and exports of organizations located outside the Czech Republic declined by 2.9% (CZK 1.5 bn). Import company based in the Czech Republic declined by 5.2% (CZK 9.8 bn), import companies located outside the Czech Republic declined by 0.5% (CZK 0.2 bn).

As a result of weakening of the Czech koruna against the two major currencies, fell foreign trade expressed in euros (exports 5.2% and imports by 6.1%) and dollars (exports by 4.2% and 5.1% respectively).

The trade balance ended in February excess of CZK 28.7 billion, which was by CZK 1.0 billion higher. Balance entities located in the Czech Republic recorded a surplus of CZK 12.2 billion (compared with a surplus of CZK 9.8 billion in February 2012), the balance of entities established in the Czech Republic, the surplus of CZK 16.5 billion (surplus CZK 17.9 billion in February 2012).

The surplus fell for machinery and transport equipment by 3.9 billion CZK and semi-finished materials by 0.4 billion CZK. The increase on the other hand experienced industrial consumer goods (by CZK 1.5 billion), beverages and tobacco (by CZK 0.3 bn) and raw materials (by CZK 0.2 billion). The deficit shrank in mineral fuels 3.3 billionChemical products and CZK 0.2 billion to CZK. The negative balance of food and live animals (CZK 2.2 billion) remained at the same level as in February 2012.

Total exports of machinery and transport equipment decreased by 4.8% (CZK 6.6 billion). Decreased in exports of road vehicles (CZK 4.4 billion), telecommunications equipment (by CZK 1.3 bn) and computer equipment (CZK 1.0 billion). Total imports of machinery and transport equipment decreased by 2.9% (CZK 2.7 billion), of which the largest decrease was recorded in imports of road vehicles (CZK 1.9 billion) and machinery and equipment for the production of energy (about 1 , 3 billion CZK). Increased imports of other transport equipment (by CZK 2.7 billion). Imports of mineral fuels fell by 26.3% (CZK 6.7 billion). Oil imports increased by 0.1% in value and 1.7% in terms of volume.Imports of natural gas was lower by 50.9% in value and 48.6% in volume.

The trade balance with EU member states was active by CZK 53.4 billion, which was an increase of CZK 6.1 billion lower. The trade gap with non-EU countries decreased by CZK 7.0 billion to CZK 24.1 billion. Surplus rose in trade with Slovakia and Turkey (both by CZK 1.2 billion) and Germany 0.5 billion CZK. Deficit turned into a surplus in the balance of trade with Russia by CZK 3.0 billion and the deficit decreased in trade with China by CZK 0.4 billion. The positive balance of contrast dropped with France (by CZK 4.3 billion) and the surplus into a deficit balance deteriorated with the Netherlands by CZK 1.9 billion. The trade deficit in Poland grew by CZK 1.2 billion.

In January-Februaryexports decreased by 3.0% and imports by 3.9%. The trade surplus amounted to CZK 60.7 billion, representing an annual increase of CZK 2.5 billion. The trade balance improved especially for manufactured goods (surplus of CZK 2.6 billion) and mineral fuels (deficit down by CZK 2.4 billion). On the contrary, reduce the surplus of trade in machinery and transport equipment by CZK 2.5 billion.

The balance of trade in national concept (national balance of payments) reflecting the performance of the Czech economy in February 2013 showed a surplus of CZK 14.7 billion. Data on exports and imports of goods, calculated using data for VAT under this methodology are given in Table 8 and in the time series External trade in goods by the change of ownership (national concept).

Source: CSO

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