Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 08, 2013 09:16:01

Czech Republic - a surplus balance of trade continues to increase in January, a decrease of exports and imports


According to preliminary data of border statistics in January year on year in current prices, exports fell by 3.2% and imports by 4.1%. A surplus CZK 31.5 billion, which was an increase of CZK 1.1 billion higher.

According to preliminary data of border statistics, seasonally adjusted exports fell by 0.2% and imports by 3.6%. The development trend shows increasing exports by 0.6% and imports by 0.4%.

Y in current prices, exports decreased by 3.2% (CZK 8.0 billion) and imports by 4.1% (CZK 9.1 bn). Export companies based in the Czech Republic decreased by 3.7% (CZK 7.2 billion) and exports of organizations located outside the Czech Republic declined by 1.4% (CZK 0.8 bn). Import company based in the Czech Republic declined by 3.0% (CZK 5.7 bn), import companies located outside the Czech Republic declined by 9.8% (CZK 3.4 bn).

Exports and imports converted into euro fell by 3.3% and 4.2%. In USD terms, exports decreased by 0.4% and imports by 1.4%.

The trade balance ended in January surplus CZK 31.5 billion, which was by CZK 1.1 billion higher. Balance entities based in the Czech Republic recorded a surplus of CZK 2.0 billion (compared with a surplus of CZK 3.4 billion in January 2012), the balance of subjects that are not based in the Czech Republic, was active by CZK 29.5 billion (as against a surplus CZK 27.0 billion in January 2012).

Surplus grew in machinery and transport equipment by CZK 1.3 billion and industrial consumer goods by CZK 1.2 billion and the deficit narrowed in chemical products by 0.4 billion CZK. Deficit turned into a surplus balance of trade in beverages and tobacco 0.1 billion CZK. Deficit deteriorated in mineral fuels, food and live animals (both by 0.8 billionCZK) and raw materials by CZK 0.2 billion. Surplus dropped by blanks and materials by CZK 0.4 billion.

Total exports of machinery and transport equipment fell by 5.1% (CZK 7.1 bn). Decreased in exports of road vehicles (CZK 4.3 billion), computers (CZK 2.0 billion) and telecommunications equipment (CZK 1.1 billion). Total imports of machinery and transport equipment decreased by 9.3% (CZK 8.4 billion), of which the largest decline recorded for imports of road vehicles (CZK 2.3 bn), computer equipment and electrical machinery, apparatus and appliances (both by CZK 1.7 billion). Imports of mineral fuels fell by 7.9% (CZK 2.2 bn). Oil imports increased by 4.9% in value terms and 8.5% in terms of volume. Imports of natural gas was lower by 5.4% in value and 5.5% in volume.

The trade balance with EU countries reached CZK 65.0 billion surplus, which was by CZK 5.4 billion lower. Deficit countries outside the EU fell by CZK 6.3 billion to CZK 33.0 billion. Trade surplus rose to Slovakia and Hungary (both by CZK 1.1 billion) and the United Kingdom by CZK 1.0 billion. The deficit narrowed in trade with Russia by CZK 2.3 billion, Korea by CZK 1.4 billion and China 0.6 billion CZK. The positive balance on the contrary fell in trade with Italy by CZK 2.0 billion, Germany by CZK 1.8 billion and France 1.7 billion CZK. Surplus into a deficit trade balance deteriorated with Poland by CZK 2.0 billion.

The balance of trade in national concept (national balance of payments) reflecting the performance of the Czech economy in January 2013 showed a surplus of CZK 1.8 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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