External Trade - December 2010

Low surplus and high year-on-year growth of exports and imports

07.02.2011
Code: r-6001-10
 




In December 2010, according to preliminary data, exports and imports at current prices rose by 27.0% and 28,5%, year-on-year (y-o-y), respectively. Trade balance ended up with a surplus of CZK 1.0 bn, which by CZK 1.7 bn lower, y-o-y.
In the year 2010, exports and imports were up by 17.7% and 20.3% respectively. The annual trade balance was active and amounted to CZK 124.5 billion, which was by CZK 25.0 billion less than in 2009.


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According to preliminary data, seasonally adjusted exports and imports rose by 2.0% and 1.6%, respectively, compared with November 2010. The development trend shows increasing exports (+1.0%) and imports (+0.8%).

Year-on-year, exports and imports at current prices rose by 27.0% (CZK 44.5 bn) and 28.5% (CZK 46.2 bn), respectively. The imports growth rate has been surpassing the exports growth rate for the tenth successive month. The appreciation of CZK against EUR brought the higher increases of exports and imports expressed in EUR than those in CZK (+31.6% and +33.2%, respectively); due to depreciation of CZK against USD exports and imports increases in USD were lower than those in CZK (+19.1% and +20.5%, respectively).

The trade balance ended up with a surplus of CZK 1.0 bn, which was by CZK 1.7 bn lower, y-o-y. The December trade balances have been always negative since the establishment of the Czech Republic up to the year 2008. The trade surplus increases were recorded in trade in ‘machinery and transport equipment’ (by CZK 3.7 bn) and ‘miscellaneous manufactured articles’ (by CZK 1.9 bn). On the other hand, the trade balance deteriorated in ‘manufactured goods classified chiefly by material’ (by CZK 3.8 bn), ‘crude materials, inedible, except fuels’ (by CZK 1.1 bn) and ‘beverages and tobacco’ (by CZK 0.1 bn) as a surplus turned into a deficit. Deficit rose in and ‘chemicals and related products’ and ‘mineral fuels, lubricants and related materials’ by CZK 1.3 bn and CZK 1.0 bn respectively. The trade balance in ‘food and live animals’ (a deficit of CZK 3.1 bn) remained on the December 2009 level.

Total 'machinery and transport equipment' exports went up by 29.6% (CZK +26.9 bn), y-o-y. Exports grew first of all in ‘office machines and automatic data-processing machines’ (CZK +6.6 bn), ‘electrical machinery, apparatus and appliances’ (CZK +5.4 bn) and ‘road vehicles’ (CZK +4.7 bn). Total 'machinery and transport equipment' imports rose by 32.4% (CZK +23.2 bn), y-o-y. Highest increases were observed in imports of ‘office machines and automatic data-processing machines’ (CZK +8.4 bn), ‘electrical machinery, apparatus and appliances’ (CZK +4.7 bn) and telecommunications and sound-recording equipment’ (CZK +3.6 bn). ‘Mineral fuels, lubricants and related materials’ imports grew by 27.0% (CZK +4.6 bn), y-o-y, of which the largest imports were posted in crude petroleum (+26.6% in value, +5.2% in volume) and natural gas (+35.8% in value, +0.7% in volume). Exports of ‘mineral fuels, lubricants and related materials’ were up by 55.6 % (CZK 3.6 bn), y-o-y.

The trade balance with EU Member States ended in a surplus of CZK 45.8 bn, which was by CZK 12.2 bn higher, y-o-y. The trade gap with non-EU countries widened by CZK 13.9 bn to CZK 44.8 bn. Surplus rose in trade with Germany (by CZK 5.2 bn) and Slovakia (by CZK 2.6 bn). The balance improved in trade with Poland (by CZK 1.4 bn) as a deficit turned into a surplus; deficit narrowed in trade with Russia (by CZK 0.1 bn). On the other hand, the trade gap deepened with China (by CZK 12.7 bn) and Korea (by CZK 0.9 bn).

In the year 2010, compared with the previous twelve months, exports and imports rose by 17.7% and 20.3%, respectively. The trade balance showed a surplus of CZK 124.5 bn, which was by CZK 25.0 bn lower, y-o-y. Increases in surplus were posted in ‘miscellaneous manufactured articles’ (CZK +18.8 bn), and 'machinery and transport equipment' (CZK +6.4 bn). The balance improved in trade in ‘animal and vegetable oils, fats and waxes’ (by CZK 2.7 bn) as a deficit turned into a surplus. On the other hand, the balance deteriorated (due to a large deficit) in ‘mineral fuels, lubricants and related materials’ (by CZK 29.1 bn), ‘chemicals and related products’ (by CZK 5.1 bn) and ‘food and live animals’ (by CZK 2.1 bn). Surplus decreased in trade in manufactured goods classified chiefly by material’ (by CZK 15.7 bn), ‘crude materials, inedible, except fuels’ (by CZK 0.7 bn) and ‘beverages and tobacco’ (by CZK 0.3 bn).

In the year 2010, the external trade with EU Member States showed a surplus of CZK 593.5 bn, which was by CZK 109.3 bn higher, y-o-y. The trade gap with non-EU countries was by CZK 134.3 bn larger to reach CZK 468.9 bn. The surplus was up in trade with Germany (by CZK 26.2 bn), Slovakia (by CZK 18.8 bn), the United Kingdom (by CZK 11.1 bn), France (by CZK 10.4 bn) and Italy (by CZK 10.3 bn). The deficit deepened in trade with China (by CZK 84.2 bn), Korea (by CZK 11.8 bn), Azerbaijan (by CZK 9.7 bn) and Russia (by CZK 9.4 bn).

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According to the CZSO sources data were obtained from 97.8% of companies (for goods dispatched) and 97.8% of companies (for goods arrived) obliged to report to the Intrastat system. Data for companies, exempted from the reporting duty, in accordance with the amended Decree No. 201/2005 Sb., and for companies that failed to report, have been imputed. The imputation methods are based on data of trade implemented that the companies reported in the previous period and data given in the VAT return forms.

Analysis - External trade development in 2010


Notes:
Contact: Karel Král, phone (+420) 274 052 161 , e-mail: karel.kral@czso.cz
Source of data: Intrastat forms and single administrative documents.
Related tables: w-6001-10 External Trade of the Czech Republic http://www.czso.cz/csu/2010edicniplan.nsf/engs/2010-6
External Trade Database: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
The data for individual months of 2009 are final; the data for individual months of 2010 are preliminary.
Preliminary data of the reference month are released together with updated data of the previous three months. All data are processed from basic reporting units and subsequently rounded.


Notice:

The data on exports and imports of goods calculated by using the VAT data according to the methodology of balance of payments in national concept based on the concept of change of ownership between residents and non-residents will be published as additional information from the processing of external trade statistics data for January 2011. Before the first release on 3 March 2011, the Czech Statistical Office will hold a special seminar on this issue.

Text not edited for language.



  • avzo020711.doc

  • Annexes:
  • Table 1 External trade in goods (exports, imports, balance in CZK million, year-on-year indices)
  • Table 2 External trade in goods (by sections of SITC, Rev. 4 in CZK million, share percentage, year-on-year indices)
  • Table 3 External trade in goods (by group of countries in CZK million, share percentage, year-on-year indices
  • Table 4 External trade in goods (exports, imports, balance in EUR million, year-on-year indices)
  • Table 5 External trade in goods (exports, imports, balance in USD million, year-on-year indices)
  • Table 6 Time series decomposition – exports (seasonal adjustment)
  • Table 7 Time series decomposition – imports (seasonal adjustment)
  • Graph 1 Exports (in CZK billion)
  • Graph 2 Imports (in CZK billion)
  • Graph 3 Balance (in CZK million, year-on-year-changes)
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Published: 07.02.2011
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz