Comparison of the current and the previous method

The current, updated method of compilation of international trade in goods (change of ownership) is based on the previous method used since 2014. The principle of a change of ownership remains unchanged, i.e. what is recorded are transactions in goods that crossed the border of the economic territory of the Czech Republic and for which concurrently its ownership changed between a resident and a non-resident. In the case of a trade exchange of goods made by non-residents only transactions related to sale of goods to residents and purchase of the goods by residents are captured. What also remains is a strict separation of international trade in goods (the principle of a change of ownership between residents and non-residents) from cross border movements of goods (physical movements of goods across the border regardless of change of ownership).

The previous method of compilation of international trade in goods (change of ownership) mainly focused on determination of a precise value of the trade balance and thus also on determination of values of imports and exports of goods to a limited extent of detail. The new method also focuses on provision of data on international trade in goods (change of ownership) at a higher level of detail.

The updated method mainly lies in complex analyses of business behaviour of non-resident units doing their business in the territory of the Czech Republic, namely in the way to ensure as precise as possible results also on lower levels of commodity structures. The main aim remains to ensure that the resulting data reflect transactions (trades) carried out between residents and non-residents that are economically active in the territory of the Czech Republic as accurately as possible.

Developing of the previous method mainly lies in detailed analyses of relations of global retail chains, determination of basic business models for the most important non-resident units doing their business in the territory of the Czech Republic, detection of quasi-transit movements of goods across the territory of the Czech Republic, and capture of actual sales and purchases carried out between non-residents and residents.

Looking at the data at a higher level of detail and elaboration of the entire method of creation of these data entails refinement of data both in individual items of the up to now published level according to the CZ-CPA2 classification as well as at the level of the total exports and imports. However, the fact that the total trade balance has not change and has not been retrospectively revised in the updated method means that the previous method was robust.

Advantages of the current, updated method

It is an advantage of the updated compilation method that it enables to better determine international trade in goods at a higher level of detail and it also enables more detailed analysis of trade flows and relations between residents and non-residents. It brings an important enhancement in the area of compilation of international trade in goods and enables to make more detailed analyses in that area. The current method is also capable of quickly responding to changes in the business behaviour of non-residents.

Data availability

Data according to the updated compilation method are available in the time series since the year 2020.

Release schedule

Monthly data according to the updated method are published in two phases. In a usual term in accordance with the release schedule (i.e. on the 37th calendar day after the end of the month) data in the commodity structure at the level of the CZ-CPA2 classification are published. More detailed data are available a month later, i.e. together with publishing data for the next period. The reason is that data from administrative sources are available later, namely data from VAT returns, which are an essential data source for compilation of this statistics.

Influence on other statistics

The updated method of statistics of international trade in goods (change of ownership) and its outputs have an influence on data of national accounts. Changes are reflected gradually. Quarterly GDP estimates work with refined data of international trade statistics right after it is published. The National Accounts Department of the Czech Statistical Office (CZSO) plans to carry out a retrospective data revision back to the year 2020 in 2024. Data also continue to be consistent with the balance of payments of the Czech Republic, which is published by the Czech National Bank in relation to national accounts.   

Information value

When interpreting data of the international trade in goods (change of ownership), especially down to the smallest detail, it has to be kept in mind that they are statistical data indicative of actual transactions between residents and non-residents of the Czech Republic and they cannot be mixed up with reported flows of goods, which, however, do not take change of ownership into account (in case of transactions of non-residents).

International comparability

Data on international trade in goods (respecting change of ownership) are internationally comparable only in the level of detail and methodology, in which the national accounts publish it. Data of the cross border movements of goods statistics, which monitors physical flows of goods, can be internationally compared also at a more detailed level.