Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 08, 2012 10:18:50

CR - in January again high trade surplus

According to preliminary data of border statistics in January year on year at current prices, exports rose by 11.0% and imports by 6.3%. The trade balance reached a record high surplus of CZK 29.6 billion, which was compared to the same month in 2011 by CZK 11.7 billion higher.

According to preliminary data of border statistics, seasonally adjusted exports rose by 1.8% and imports by 0.2%. The development trend shows increasing exports by 1.9% and imports by 0.9%.

In comparison, current prices, exports rose by 11.0% (CZK 24.7 billion) and imports by 6.3% (CZK 13.0 billion). External trade turnover was increased by 8.8% (CZK 37.7 billion). Due to the weakening of the CZK against major currencies has increased both in terms of euros exports by 6.3% and imports by 1.8% in dollar terms, exports were up by 2.7% while imports decreased by 1.6%.

The trade balance recorded a highest surplus since the Czech Republic in the amount of CZK 29.6 billion, which was compared with a surplus in January 2011 by CZK 11.7 billion higher. Surplus grew in machinery and transport equipment '(CZK 12.0 billion), and semi-finished materials (by CZK 3.3 billion) and miscellaneous manufactured goods (by CZK 0.5 billion). The deficit dropped for food and live animals (by CZK 0.6 billion). Deficit was observed in contrast mineral fuels (by CZK 2.4 billion) and chemical products (by CZK 0.6 billion). Surplus into a deficit trade balance deteriorated in raw materials (by CZK 1.3 billion) and beverages and tobacco (by CZK 0.2 billion).

Exports of machinery and transport equipment in total grew by 11.0% (13.8 billion CZK). Increased, especially exports of road vehicles' (CZK 5.3 billion), computers (by CZK 2.4 billion) and telecommunications equipment (by CZK 1.6 billion).Total imports of machinery and transport equipment 'were up by 2.1% (1.8 billion CZK). Increased imports of road vehicles' (CZK 3.0 billion) and machinery and equipment generally used in industry (CZK 1.8 billion). The decrease in imports was recorded in computers (by CZK 4.7 billion). Imports of mineral fuels rose annually by 20.4% (CZK 4.7 billion). Oil imports increased in value by 29.2%, in terms of volume dropped by 4.3%. Natural gas imports were in value by 15.5% higher in terms of volume decreased by 13.9%.

The EU trade surplus rose by CZK 7.1 billion to 68.8 billion CZK and non-EU states ended in a deficit balance of 39.2 billion CZK, which was compared to January 2011 was 4.6 billion . CZK smaller. Deficit decreased in trade with China by CZK 5.7 billion and Russia by 0.2 billion CZK. Surplus rose in trade with Germany by 4.9 billionCZK, France by CZK 1.2 billion and Slovakia by 0.6 billion CZK. Deficit turned into a surplus improved the trade balance with the United States by CZK 1.5 billion and Turkey by CZK 1.0 billion. The deficit grew in trade with Korea by 2.4 billion CZK.

CSO more precise data for individual months of 2011 the exports and imports both by +3.2 billion CZK. According to the updated data in 2011 increased volume of exports by 13.3% to CZK 2 869.3 billion and imports by 11.0% to 2 677.9 billion CZK. The trade balance showed a surplus of CZK 191.5 billion, compared to CZK 121.2 billion in 2010.

According to the methodology in the national balance of payments concept based on the concept of change of ownership between residents and non-residents in January 2012 recorded a trade surplus of CZK 13.0 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 of foreign trade in goods by change of ownership (national concept).

According to sources CSO data were obtained from the dispatch and receipt 95.8% from 95.7% of the companies obliged to report to Intrastat. 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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