External Trade - December 2011

Faster growth of exports than imports continued

07.02.2012
Code: r-6001-11
 




In December 2011, according to preliminary data of ‘border statistics’, exports and imports at current prices rose by 10.1% and 5.1%, year-on-year (y-o-y), respectively. The trade balance ended in a surplus of CZK 10.5 bn, which was by CZK 10.4 bn more compare to December 2010.
In the year 2011, exports and imports were up by 13.2% and 10.9% respectively. The annual trade balance was active and amounted to CZK 191.4 bn, which was by CZK 70.2 bn more than in 2010.

According to preliminary data of ‘border statistics’, seasonally adjusted exports and imports rose by 2.9% and 2.0%, respectively, compared to November 2011. The development trend shows increasing exports (+2.0%) and imports (+1.5%).

Year-on-year, exports and imports at current prices rose by 10.1% (CZK 20.9 bn) and 5.1% (CZK 10.5 bn) respectively. The exports growth rate has been surpassing the imports growth rate for the fourth successive month. Due to depreciation of the CZK against the both main currencies, external trade grew slower in EUR (exports +8.6% and imports +3.6%) and in USD (exports +8.2% and imports +3.2%) than external trade expressed in CZK.

The trade balance surplus rose by CZK 10.4 bn to 10.5 bn y-o-y, which was the largest December surplus since 2009, until when it had been always negative. Y-o-y, the trade balance improved mainly in ‘machinery and transport equipment’ (surplus up by CZK 10.6 bn) and ‘miscellaneous manufactured articles’ (surplus up by CZK 3.7 bn). The trade balance in ‘manufactured goods classified chiefly by material’ improved (by CZK 4.2 bn) as a deficit turned into a surplus; and deficit in ‘food and live animals’ shrank (by CZK 0.4 bn). On the other hand, deficit deepened in ‘mineral fuels, lubricants and related materials’ (by CZK 6.7 bn), chemicals and related products’ (by CZK 1.0 bn), ‘beverages and tobacco’ (by CZK 0.3 bn) and ‘crude materials, inedible, except fuels’ (by CZK 0.2 bn).

Total 'machinery and transport equipment' exports went up by 8.0% (CZK +9.4 bn), y-o-y. The biggest increases in exports were observed mainly in exports of ‘road vehicles’ (CZK +4.8 bn), ‘general industrial machinery and equipment’ (CZK +2.2 bn) and ‘telecommunications and sound-recording equipment’ (by CZK +1.7 bn). Total 'machinery and transport equipment' imports decreased by 1.2% (CZK -1.2 bn), y-o-y, of which the biggest drops were recorded in ‘office machines, automatic data-processing machines’ (CZK -4.0 bn) and ‘electrical machinery, apparatus and appliances’ (CZK -2.6 bn). Imports of ‘road vehicles’ and ‘power-generating machinery and equipment’ grew by CZK +2.6 bn and CZK +2.2 bn respectively. Mineral fuels, lubricants and related materials’ imports grew by 27.1% (CZK 5.9 bn), y-o-y, mainly due to a higher imports of natural gas (by 38.3% in value and by 4.4% in volume). Imports of crude petroleum increased by 22.0% in value and fell by 10.6% in volume.

A surplus of trade balance with EU Member States remained on the same level as in December 2010 (CZK 45.5 bn). Trade balance with non-EU countries ended in a deficit of CZK 35.0 bn which was by CZK 10.4 bn lower y-o-y. Deficit decreased in trade with China (by CZK 6.4 bn due to a fall of imports) and the Russian Federation (by CZK 0.6 bn). Balance improved in trade with the Ukraine (by CZK 1.3 bn) and Hungary (by CZK 1.0 bn) as a deficit turned into a surplus. Surplus rose in trade with Germany (by CZK 3.8 bn). On the other hand, surplus fell in trade with the Netherlands (by CZK 1.9 bn) and Slovakia (by CZK 0.3 bn). Balance deteriorated in trade with Italy (by CZK 1.2 bn) as a surplus turned into a deficit.

In the year 2011, compared with 2010, exports and imports rose by 13.2% and 10.9%, respectively. The external trade turnover grew by CZK 596.5 bn to CZK 5 540.8 bn. The trade balance showed a surplus of CZK 191.4 bn, which was by CZK 70.2 bn higher, y-o-y. The balance improved mainly in 'machinery and transport equipment' which recorded a CZK 105.3 bn growth in surplus y-o-y. On the contrary, deficit deepened in ‘mineral fuels, lubricants and related materials’ and ‘chemicals and related products’ by CZK 38.2 bn and CZK 18.8 bn respectively.

In the year 2011, the external trade with EU Member States ended in a surplus of CZK 670.4 bn, which was by CZK 71.9 bn higher, y-o-y. The trade gap with non-EU countries was by CZK 1.7 bn larger to reach CZK 478.9 bn. The surplus was up in trade with Germany (by CZK 32.1 bn), France (by CZK 14.1 bn) and Slovakia (by CZK 14.0 bn). The balance improved in trade with the United States (by CZK 13.3 bn) as a deficit turned into a surplus; and deficit fell in trade with the Russian Federation (by CZK 12.7 bn). On the other hand, the trade gap grew with China (by CZK 31.2 bn) and Azerbaijan (by CZK 6.3 bn).

According to the methodology of balance of payments in national concept based on the concept of change of ownership between residents and non-residents, trade balance in December 2011 ended in a deficit of CZK 5.8 bn. The data on exports and imports of goods, calculated by using the VAT data according to this concept, are available in Table 8 and in the time series External trade in goods according to change of ownership (national concept).

According to the CZSO sources data were obtained from 98.1% of companies (for goods dispatched) and 98.1% 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.

The data according to the methodology of Balance of Payments and National Accounts are monthly calculated on the basis of External Trade Statistics data in combination with the Value Added Tax data. The data are extrapolated from the data of previous periods for the months where the data from Value Added Tax declarations are not available. This methodology consists in value substitution of goods operation done by non-residents by its value added, i.e. the difference between the value of inland purchased good in case of exports or sale to inland in case of imports and the value declared crossing the border. While the aim of External Trade Statistics, which has been published in national concept until now according to the regulations of the Parliament and the Council of the European Union, has been recording of the movement of goods across the border, the methodology of Balance of Payments stress the change of ownership between the residents and non-residents.


Responsible manager of the CZSO: Ing. Marek Rojíček, Ph.D., Director of Macroeconomic Statistics Branch, phone (+420) 274 052 486
E- mail: marek.rojicek@czso.cz
Contact: Karel Král, Director of External Trade Statistics Department, phone (+420) 274 052 161
E-mail: karel.kral@czso.cz
Method of data collection: Intrastat forms and Single administrative documents.
End of data collection: 20 th working day after the end of the reference month
Documents available on the CZSO website: w-6001-11 External Trade of the Czech Republic –detailed breakdown (periodicity: monthly): /csu/czso/external-trade-of-the-czech-republic-january-december-2011-1cazdiibf0
External Trade Database: /csu/czso/ep-6-opendocument
Next News Release: 8 March 2012

This press release was not edited for language.



  • avzo020712.doc

  • Annexes:
  • Table 1 External trade in goods in CZK million, year-on-year indices (‘border statistics’)
  • Table 2 External trade in goods by sections of SITC, in CZK million, share percentage, year-on-year indices (‘border statistics’)
  • Table 3 External trade in goods by group of countries in CZK million, share percentage, year-on-year indices (‘border statistics’)
  • Table 4 External trade in goods in EUR million, year-on-year indices (‘border statistics’)
  • Table 5 External trade in goods in USD million, year-on-year indices (‘border statistics’)
  • Table 6 Time series decomposition – exports, seasonal adjustment (‘border statistics’)
  • Table 7 Time series decomposition – imports, seasonal adjustment (‘border statistics’)
  • Table 8 Main external trade statistics indicators based on the national concept (the principle of change in ownership)
  • Graph 1 Exports in CZK billion (‘border statistics’)
  • Graph 2 Imports in CZK billion (‘border statistics’)
  • Graph 3 Balance in CZK million, year-on-year-changes (‘border statistics’)
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Published: 07.02.2012
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