Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  September 06, 2012 09:08:19

Czech Republic - foreign trade surplus in July to 25.8 billion, exports grew by 10.3%


Preliminary data border statistics in July year on year at current prices, exports rose by 10.3% and imports by 4.2%. The trade balance showed a surplus of CZK 25.8 billion, which was by CZK 13.8 billion higher.

According to preliminary data of border statistics, seasonally adjusted exports rose by 2.0%, while imports fell by 0.5%. The development trend shows a growth in exports of 1.4% and a decrease in imports by 0.2%.

Y in current prices, exports grew by 10.3% (CZK 22.6 billion) and imports by 4.2% (CZK 8.8 bn). Foreign trade turnover reached CZK 460.0 billion, the lowest monthly figure sales this year. Export companies based in the Czech Republic grew by 10.8% (CZK 18.1 billion) and exports of organizations located outside the Czech Republic by 8.5% (CZK 4.6 bn). Import company based in the Czech Republic increased by 5.4% (9.4 billionCZK) while imports firms based outside the Czech Republic declined by 1.7% (CZK 0.6 bn).

As a result of the weakening of the CZK against two major currencies for euros exports rose by 5.5% and imports fell by 0.2%. In terms of dollar exports decreased by 9.1% and imports by 14.1%.

The foreign trade balance showed a surplus of CZK 25.8 billion, which was compared to the same month of 2011 increased by CZK 13.8 billion. Balance entities based in the Czech Republic reached a surplus of CZK 0.9 billion (compared to the deficit of CZK 7.8 billion in July 2011), the balance of subjects that are not based in the Czech Republic recorded a surplus of CZK 24.9 billion (against assets 19 , CZK 8 billion in July 2011).

Surplus grew in machinery and transport equipment by CZK 9.0 billion, intermediate products and materials by CZK 3.0 billion, miscellaneous manufactured goods by 2.3 billion CZK, beverages and tobacco 0.2 billion CZK.Deficit turned into a surplus in the balance of trade in raw materials by 1.4 billion CZK. Deficit for chemical products increased by CZK 1.7 billion and mineral fuels by CZK 0.7 billion. Reducing the deficit was noted in food and live animals 0.2 billion CZK.

Total exports of machinery and transport equipment grew by 9.6% (CZK 11.5 billion). In particular the exports of road vehicles (CZK 4.5 billion), machinery and equipment generally used in industry (CZK 2.0 billion), machinery and equipment for power generation and electrical machinery, apparatus and appliances (both 1 , 6 billion CZK). Total imports of machinery and transport equipment grew by 3.0% (CZK 2.5 billion), of which the highest increase recorded electrical machinery, apparatus and appliances (CZK 2.6 billion) and road vehicles (1.5 billion CZK). The decrease in imports was recorded in computers (CZK 2.8 billion).Imports of mineral fuels grew by 2.1% (CZK 0.5 bn). Oil imports in value terms increased by 1.3%, while in terms of volume dropped by 5.5%. Imports of natural gas increased by 28.3% in value terms and 5.2% in terms of volume.

The trade balance with EU countries reached a surplus of CZK 52.7 billion, which was by CZK 2.4 billion higher. With non-EU Trade balance deficit of CZK 26.9 billion, up by CZK 11.4 billion less. Surplus rose in trade with Germany by CZK 4.6 billion, Slovakia by CZK 1.2 billion and the United States by CZK 1.1 billion. The negative balance decreased in trade with Russia by CZK 3.0 billion, China by CZK 2.7 billion and deficit turned into a surplus in the balance of trade with Ukraine by CZK 1.4 billion. The switch turning into a deficit trade balance deteriorated contrast with Norway CZK 1.8 billion, the Netherlands 1.6 billionItaly and CZK 1.5 billion CZK.

In January-July exports rose by 8.8% and imports by 3.9%. The trade surplus amounted to CZK 194.5 billion, representing an annual increase of 84.7 billion CZK. Surplus increased mainly in machinery and transport equipment by 55.3 billion CZK and manufactured material by CZK 17.4 billion. Grew Conversely, trade deficit with chemicals by CZK 5.4 billion and mineral fuels by CZK 3.1 billion.

CSO's regular annual update. The final data for the year 2011 exports grew by 13.7% to 2 878.7 billion and imports CZK 11.4% to 2 687.6 billion CZK. The trade balance showed a surplus of CZK 191.1 billion, compared to CZK 121.2 billion in 2010.

The balance of trade in national concept(Balance of payments methodology) reflecting the performance of the Czech economy in July 2012 showed a surplus of CZK 5.9 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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