Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 07, 2010 09:15:59

CR - Foreign trade in August with a lower surplus

Foreign Trade - August 2010

According to preliminary data, year on year increase in August exports at current prices by 23.0% and imports by 30.1%. A surplus of CZK 0.5 billion, which was by CZK 8.6 billion lower. Adverse effect on the balance had dropped mainly trade surplus in machinery and transport equipment 'by CZK 6.1 billion.

According to preliminary data, seasonally adjusted exports rose by 0.3% and imports by 1.4%. The development trend shows increasing exports by 1.9% and imports by 1.4%.

In comparisonat current prices, exports grew by 23.0% (CZK 36.6 billion) and imports by 30.1% (45.2 billion CZK). The advance of import growth to outstrip export lasts for six months. Results were influenced by low comparative basis in August 2009 (the lowest monthly turnover of 2009). Strengthening of CZK against EUR increases mean higher exports and imports in euros than in the currency (by 27.1% and 34.5%), due to weakening of CZK USD in relation to the growth of exports and imports in dollar terms is lower (by 14, 9% and 21.5%) than in Czech crowns.

The foreign trade balance showed a surplus of CZK 0.5 billion, which was by CZK 8.6 billion lower. Deterioration of balance (surplus down by CZK 6.1 billion) recorded in trade in machinery and transport equipment. Deepened trade deficit in mineral fuels by 3.0 billion CZK, chemical products by 1.3 billion CZK and food and live animals 0.3 billion CZK.Conversely increased trade surplus in 'miscellaneous manufactured goods and raw materials (both by CZK 0.7 billion) and manufactures and materials by 0.3 billion CZK. Balance of trade in beverages and tobacco (surplus of CZK 0.3 billion) remained roughly at the level of August 2009.

Total exports of machinery and transport equipment increased by 22.2% (18.5 billion CZK). The largest increases were recorded in exports of electrical machinery, apparatus and appliances '(CZK 4.9 billion), road vehicles' (CZK 3.2 billion) and computers (by CZK 2.9 billion). Total imports of machinery and transport equipment grew by 41.8% (24.6 billion CZK). Was higher mainly imports electrical machinery, apparatus and appliances' (CZK 8.8 billion), computers (by CZK 5.9 billion) and telecommunications equipment (by CZK 4.0 billion). Imports of mineral fuels rose by 24.9% (3.9 billionCZK), mainly due to higher imports of crude petroleum (by 42.5% in value by 12.6%). Imports of natural gas in terms of value grew by 11.6% in terms of volume decreased by 21.9%.

The trade balance with EU member states reached a surplus of CZK 38.9 billion, which was by CZK 5.9 billion higher. The trade deficit with countries outside the EU increased by CZK 14.5 billion to 38.4 billion CZK. The deficit grew in trade with China by CZK 9.3 billion, Azerbaijan 1.4 billion to CZK 1.3 billion for Korea and Ireland CZK 1.0 billion CZK. Surplus into a deficit trade balance deteriorated with Ukraine by 1.1 billion CZK. Surplus rose in trade with Slovakia to CZK 1.9 billion, Germany by CZK 1.8 billion and Austria by CZK 1.3 billion, the deficit decreased in trade with Russia by CZK 1.7 billion.

Over the last twelve monthscompared with the previous twelve months, exports rose by 8.3% and imports by 6.6%. The trade balance showed a surplus 137.3 billion CZK, which was by CZK 43.2 billion higher. Growth was recorded surplus machinery and transport equipment 'by CZK 19.5 billion, industrial consumer goods by 17.9 billion CZK and raw materials by 6.8 billion CZK. Deficit decreased in trade of chemical products by 3.6 billion CZK and animal and vegetable fats and oils by 2.4 billion CZK. The deterioration in the balance was classified chiefly by material '(surplus down by CZK 3.6 billion), food and live animals' (deficit up by CZK 3.5 billion), mineral fuels (increase in deficit of CZK 0.1 billion) and beverages and tobacco '(surplus down by CZK 0.1 billion).

Trade surplus with EU states over the past twelve months increased by 78.6 billion to CZK 547.6 billion CZK, with non-EU deficit was higher by CZK 35.4 billion and amounted to 410.3 billion CZK. Surplus rose in trade with France by 16.0 billion CZK, Italy by CZK 13.8 billion, Germany by CZK 13.7 billion, the United Kingdom 12.6 billion to CZK 10.9 billion Spain Slovakia to CZK 8.4 billion CZK. Deficit decreased in trade with Japan by CZK 10.8 billion and Russia by 2.5 billion CZK. Surplus into a deficit trade balance deteriorated with Poland by CZK 9.4 billion, the deficit grew in trade with China by 30.8 billion CZK and Thailand by 7.7 billion CZK.

In January-August exports rose by 15.9% and imports by 18.0%. The trade surplus decreased by CZK 12.2 billion to 86.8 billion CZK.

Source: CSO
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