Mediafax (Mediafax)
Macroeconomics  |  December 04, 2010 09:15:28

The October trade balance reached a surplus of 10.5 billion crowns, says analysts


Mediafax

PRAGUE (MEDIAFAX) - Czech Statistical Office (CSO) on Tuesday published data on the October trade balance. Market consensus Reuters expected a surplus of 10.5 billion crowns in September trade surplus reached 12.4 billion crowns.

"High rate of exports continued, but on the other hand, there were increasing imports. But in large part caused by importing components for photovoltaic power plants. It would now could fall, "said the agency Mediafax Petr Sklenar, chief economist at Atlantik FT. This allows even a slight increase in surplus at 13 billion. "But there is replenishment in connection with industrial recovery, this was the last two years, almost stopped.A typical example is the renewal of the fleet, "said Sklenar.

CSOB analyst Petr Dufek trade surplus amounted to 12 billion crowns. "It is a weaker number than last October, but more than three billion worse result of higher prices of energy raw materials. The pace of import and possibly was again higher than the rate of exports, which, however, still remains two-digit, "he said. This year's external trade, according to him will be substantially weaker than last year, but may, in particular two temporary factors. "The first year is higher commodity prices and the crown is the second massive imports of equipment for solar power plants. Over the next few months, however, have both of these factors will go away, "said Dufek.

David Marek, chief economist at Patria Finance, in its estimation allows for a surplus of 11 billion crowns. "Exporting is due to foreign demand is still high, but rising commodity prices increase the value of imports," concluded Mark.

Tomas Cizek, cizek@mediafax.cz

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