External Trade - January 2012

High surplus of trade balance again

08.03.2012
Code: r-6001-12
 




In January 2012, according to preliminary data of ‘border statistics’, exports and imports at current prices rose by 11.0% and 6.3%, year-on-year (y-o-y), respectively. The trade balance reached a record-breaking surplus of CZK 29.6 bn, which was by CZK 11.7 bn higher compared to the same month of 2011.

According to preliminary data of ‘border statistics’, seasonally adjusted exports and imports rose by 1.8% and 0.2%, respectively, compared to December 2011. The development trend shows increasing exports (+1.9%) and imports (+0.9%).

Year-on-year, exports and imports at current prices rose by 11.0% (CZK 24.7 bn) and 6.3% (CZK 13.0 bn) respectively. The external trade turnover increase by 8.8% (CZK 37.7 bn) y-o-y. Due to depreciation of the CZK against the both main currencies, exports and imports expressed in EUR grew by 6.3% and 1.8%, respectively; and when expressed in USD, exports were up by 2.7% and imports were down by 1.6%, y-o-y.

The trade balance showed the largest surplus (CZK +29.6 bn) since the establishment of the Czech Republic. It was by CZK 11.7 bn higher in comparison to the January 2011 surplus. Y-o-y, surplus rose in ‘machinery and transport equipment’ (by CZK 12.0 bn), ‘manufactured goods classified chiefly by material’ (by CZK 3.3 bn) and ‘miscellaneous manufactured articles’ (by CZK 0.5 bn). Deficit decreased in ‘food and live animals’ (by CZK 0.6 bn). On the other hand, deficit deepened in ‘mineral fuels, lubricants and related materials’ and ‘chemicals and related products’ by CZK 2.4 bn and by CZK 0.6 bn respectively. The trade balance deteriorated in crude materials, inedible, except fuels’ by CZK 1.3 bn and ‘beverages and tobacco’ by CZK 0.2 bn as a surplus turned into a deficit.

Total 'machinery and transport equipment' exports went up by 11.0% (CZK +13.8 bn), y-o-y. The biggest increases in exports were observed mainly in exports of ‘road vehicles’ (CZK +5.3 bn), ‘office machines, automatic data-processing machines’ (CZK +2.4 bn) and ‘telecommunications and sound-recording equipment’ (by CZK +1.6 bn). Total 'machinery and transport equipment' imports increased by 2.1% (CZK +1.8 bn). Imports grew in ‘road vehicles’ (by CZK +3.0 bn) and ‘general industrial machinery and equipment’ (by CZK +1.8 bn). A decrease in imports was recorded in ‘office machines, automatic data-processing machines’ (CZK -4.7 bn). Mineral fuels, lubricants and related materials’ imports grew by 20.4% (CZK +4.7 bn), y-o-y. Imports of crude petroleum rose by 29.2% in value, but fell by 4.3% in volume. Imports of natural gas were by 15.5% higher in value and dropped by 13.9% in volume.

A surplus of trade balance with EU Member States grew by CZK 7.1 bn to CZK 68.8 bn, y-o-y. Trade balance with non-EU countries ended in a deficit of CZK 39.2 bn which was by CZK 4.6 bn lower y-o-y. Deficit decreased in trade with China (by CZK 5.7 bn) and the Russian Federation (by CZK 0.2 bn). Surplus rose in trade with Germany (by CZK 4.9 bn), France (by CZK 1.2 bn) and Slovakia (by CZK 0.6 bn). Balance improved in trade with the United States (by CZK 1.5 bn) and Turkey (by CZK 1.0 bn) as a deficit turned into a surplus. Deficit deepened in trade with Korea (by CZK 2.4 bn).

The CZSO has carried out the regular update of the individual months of 2011.The both exports and imports were updated by CZK +3.2 bn. The 2011 updated data says, that y-o-y exports and imports grew by 13.3 % to CZK 2 869.3 bn and 11.0 % to CZK 2 677.9 bn respectively. The trade balance ended in a surplus of CZK 191.5 bn against CZK 121.2 bn in 2010.

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 January 2012 ended in a surplus of CZK 13.0 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 95.8% of companies (for goods dispatched) and 85.7% 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.


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-december-2012-edwombu9aa
External Trade Database: /csu/czso/ep-6-opendocument
Next News Release: 6 April 2012
The data for individual months of 2010 are final; the data for individual months of 2011and 2012 are preliminary. All data are processed from basic reporting units and subsequently rounded.

This press release was not edited for language.



  • avzo030812.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: 08.03.2012
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