Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  December 07, 2012 09:58:12

Czech Republic - Foreign trade in October with record exports and imports


According to preliminary data of border statistics year on year in October, at current prices, exports rose by 7.5% and imports by 8.2%. The trade balance showed a surplus of CZK 33.0 billion, which was by CZK 0.8 billion higher.

According to preliminary data of border statistics, seasonally adjusted exports fell by 2.4% and imports by 3.4%. The development trend shows a decline in exports by 1.3% and imports by 1.1%.

Y in current prices, exports grew by 7.5% (CZK 19.7 billion) and imports by 8.2% (CZK 18.9 billion). The growth rate of imports was higher than the growth rate of exports for the first time since May 2011. Foreign trade turnover grew by 7.9% to CZK 531.3 billion and reached its highest monthly level since 1993. October 2012, compared to the same month of the previous year by 3 working days longer.

Export companies based in the Czech Republic increased by 9.2% (CZK 17.8 billion) and exports of organizations located outside the Czech Republic increased by 2.7% (CZK 1.9 bn). Import company based in the Czech Republic increased by 10.3% (CZK 19.8 billion), while imports of companies based outside the Czech Republic declined by 2.3% (CZK 0.9 bn).

As a result of the weakening of the CZK against two major currencies, external trade rose in euro (exports by 7.1% and imports by 7.8%) and dollars (export by 1.6% and imports by 2.3%) slower than in the Czech crowns.

External trade balance reached a surplus in October CZK 33.0 billion, which was the second highest in 2012. Compared to the same month of 2011, the balance of CZK 0.8 billion larger. Balance entities based in the Czech Republic recorded a deficit of CZK 1.5 billion (compared with 0.4 billion assetCZK in October 2011), the balance of subjects that are not based in the Czech Republic, showed a surplus of CZK 34.5 billion (against a positive balance of CZK 31.7 billion in October 2011).

Surplus annual increase in industrial consumer goods by 3.3 billion CZK, machinery and transport equipment by CZK 3.1 billion and semi-finished materials and CZK 1.7 billion and the deficit shrank for food and live animals by 0 , CZK 1 billion. Trade deficit grew in mineral fuels by CZK 6.8 billion chemical products by 0.3 billion CZK, beverages and tobacco 0.1 billion CZK. Surplus into a deficit trade balance deteriorated materials CZK 1.0 billion.

Total exports of machinery and transport equipment increased by 3.3% (CZK 4.9 bn). In particular the export of electrical machinery, apparatus and appliances (CZK 3.4 billion) and road vehicles and computer equipment (both by CZK 1.6 billion).Dropped other hand, exports of telecommunications equipment (CZK 5.3 billion). Total imports of machinery and transport equipment grew by 1.8% (CZK 1.8 billion), of which the largest increase recorded for imports of electrical machinery, apparatus and appliances (CZK 2.1 billion) and road vehicles (about 2 , 0 billion CZK). Decreased imports of computers (CZK 2.5 billion). Growth in imports of mineral fuels, up by 35.5% (CZK 7.0 billion) was mainly due to higher imports of petroleum (about 154.1% and 146.0% in value and by). Imports of natural gas increased by 20.2% in value terms, while in terms of volume dropped by 3.0%.

The trade balance with EU countries reached CZK 64.6 billion surplus, which was by CZK 0.8 billion higher. Deficit with countries outside the EU remained at the same level as in October last year (31.6 billion CZK).To improve the balance of trade in China decline in the deficit of CZK 4.0 billion. Trade surplus grew with Austria CZK 2.6 billion, the United Kingdom (by CZK 2.3 billion), Germany (by CZK 0.7 billion) and Slovakia (CZK 0.4 billion). Surplus into a deficit trade balance deteriorated with Russia (CZK 4.9 billion) and Italy (1.8 bn CZK) and decreased in trade surplus with France (by CZK 1.8 billion).

In January-October exports rose by 8.0% and imports by 3.9%. The trade surplus amounted to CZK 269.2 billion, representing an annual increase of 103.6 billion CZK. Surplus increased mainly in machinery and transport equipment by 67.0 billion CZK and manufactured material by CZK 21.3 billion. Grew Conversely, trade deficit, and mineral fuels by CZK 11.5 billion and chemical products by CZK 5.2 billion

The balance of trade in national concept(Balance of payments methodology) reflecting the performance of the Czech economy in October 2012 showed a surplus of CZK 4.8 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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