External Trade - January 2011

Turnover up by more than a quarter year-on-year

09.03.2011
Code: r-6001-11
 




In January 2011, according to preliminary data of ‘border statistics’, exports and imports at current prices rose by 28.4% and 30.9%, year-on-year (y-o-y), respectively. Trade balance ended up with a surplus of CZK 15.7 bn, which by CZK 0.4 bn higher, y-o-y.


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According to preliminary data of ‘border statistics’, seasonally adjusted exports and imports rose by 5.2% and 6.0%, respectively, compared with December 2010. The development trend shows increasing exports (+3.4%) and imports (+2.7%).

Year-on-year, exports and imports at current prices were up by 28.4% (CZK 49.5 bn) and 30.9% (CZK 49.1 bn), respectively. The imports growth rate has been surpassing the exports growth rate for the eleventh successive month. The appreciation of CZK against EUR brought the higher increases of exports and imports expressed in EUR (+37.2% and +39.9%, respectively) than those in CZK. The CZK to USD exchange rate remained on the same level as in January 2010, so exports and imports converted to USD achieved the same rates of growth than the external trade expressed in the Czech korunas.

The trade balance surplus of CZK 15.7 bn, which was by CZK 0.4 bn higher, y-o-y. Surplus grew in ‘machinery and transport equipment’ (by CZK 9.9 bn), ‘miscellaneous manufactured articles’ (by CZK 0.7 bn) and ‘crude materials, inedible, except fuels’ (by CZK 0.2 bn). Deficit shrank (by CZK 0.3 bn) in ‘food and live animals’. On the other hand, the trade gap increased in ‘mineral fuels, lubricants and related materials’ and ‘chemicals and related products’ by CZK 4.6 bn and CZK 4.2 bn, respectively. Trade balance deteriorated in ‘manufactured goods classified chiefly by material’ (by CZK 2.0 bn) as a surplus turned into a deficit. Surplus in ‘beverages and tobacco’ (CZK 0.1 bn) remained on the same level as in January 2010.

Total 'machinery and transport equipment' exports went up by 30.0% (CZK +28.6 bn), y-o-y. Exports grew first of all in ‘road vehicles’ (CZK +7.3 bn), ‘office machines and automatic data-processing machines’ (CZK +6.7 bn) and ‘electrical machinery, apparatus and appliances’ (CZK +4.7 bn). Total 'machinery and transport equipment' imports rose by 27.8% (CZK +18.7 bn), y-o-y. Highest increases were recorded in imports of electrical machinery, apparatus and appliances’ (CZK +5.8 bn) and ‘office machines and automatic data-processing machines’ (CZK +4.7 bn). ‘Mineral fuels, lubricants and related materials’ imports grew by 39.3% (CZK +6.3 bn), y-o-y, of which the largest imports were posted in crude petroleum (+35.7% in value, +10.0% in volume) and natural gas (+39.3% in value, +1.2% in volume).

The trade balance with EU Member States showed a surplus of CZK 58.7 bn, which was by CZK 9.9 bn higher, y-o-y. The trade gap with non-EU countries widened by CZK 9.5 bn to CZK 43.0 bn. Surplus rose in trade with Germany (by CZK 3.1 bn), Austria (by CZK 1.9 bn), France (by CZK 1.9) and Slovakia (by CZK 1.1 bn). On the other hand, the trade gap deepened with China (by CZK 9.9 bn) and Russia (by CZK 1.1 bn).

According to the methodology of balance o payments in national concept based on the concept of change of ownership between residents and non-residents, January trade balance yielded a surplus of CZK 0.6 bn. The data on exports and imports of goods calculated by using the VAT data according to this concept are available in Table 8.

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According to the CZSO sources data were obtained from 95.4% of companies (for goods dispatched) and 95.3% 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 the movement of goods across the border, the methodology of Balance of Payments stress the change of ownership between the residents and non-residents.



Notes:
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 Republi c – detailed breakdown (Periodicity: monthly): http://www.czso.cz/csu/2010edicniplan.nsf/engs/2010-6
External Trade Database: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release: 6 April 2011
The data for individual months of 2009 are final; the data for individual months of 2010 and 2011 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.

Text not edited for language.

External trade in the national approach



  • avzo030911.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: 09.03.2011
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