External Trade - July 2014

In July 2014, according to preliminary data of ‘national concept' in current prices, the trade balance ended in a surplus of CZK 11,5 bn, which was by CZK 6.6 bn more year−on−year (y−o−y).

Year−on−year, total balance in national concept was favourably influenced mainly by an increase in surplus in 'machinery and transport equipment' (by CZK 6.6 bn) mainly due to a higher surplus in balance of 'road vehicles' (by CZK 13.7 bn). Balance improved also in 'crude material, inedible, except fuels' (by CZK 1.8 bn) as a deficit turned into a surplus. On the other hand, surplus fell in 'manufactured good classified chiefly by material' (by CZK 2.3 bn) and deficit in 'chemicals and related products' deepened (by CZK 0.7 bn). The 'mineral fuels, lubricants and related materials' deficit remained on the same level as in July 2013 (CZK −15.2 bn).

The trade balance with EU28 Member States ended in a surplus of CZK 46.0 bn, which was by CZK 12.5 bn more, y−o−y. Deficit of trade with non-EU countries deepened by CZK 5.6 bn to amount to CZK 33.4 bn.

In July, national concept exports grew by 18.3% (to CZK 264.8 bn) and imports by 15.7% (to CZK 253.3 bn), y−o−y.

In January−July 2014 , trade surplus reached CZK 114.8 bn which represented a y−o−y increase of CZK 30.2 bn. From the beginning of the year exports and imports went up by 15.4% and 14.3% respectively, y−o−y.

The CZSO has carried out the regular annual update. The final 2013 data in national concept says, that y-o-y exports and imports grew by 2.2% to CZK 2 786.2 bn and 0.7% to CZK 2 679.7 bn respectively. The trade balance for the year 2013 reached a surplus of CZK 106.5 bn against CZK 64.4 bn in 2012.

Detailed information on external trade in national concept is available on website: /csu/czso/vzonu_ts. Preliminary data are based on the cross-border trade of residents and estimates of internal trade between residents and non-residents. These estimates will be updated next month.

National concept of external trade reflects export and import performance of the Czech economy, i.e. the external trade balance of the Czech Republic as well. It measures real trade in goods carried out between the Czech and foreign entities, i.e. a change of ownership between residents and non-residents. On the other hand, cross-border concept of external trade reflects only physical movements of goods across the border regardless of whether the trade between the Czech and foreign entities occurs. These data are internationally comparable and can be used as indicators of development of value of the trade.

In July 2014, according to preliminary data of ‘cross-border concept’ in current prices, exports and imports grew by 18.3% and 16.1% respectively, y−o−y.

Month-on-month, in ‘cross-border concept’ seasonally adjusted exports and imports grew by 1.3% and 0.9% respectively. The development trend shows increasing exports (+0.7%) and imports (+0.3%).

Y-o-y, due to depreciation of the koruna against euro and US dollar, exports and imports in terms of euro grew by 11.8% and 9.7% respectively. In terms of US dollars exports and imports increased by 15.7% and 13.5% respectively.

Total exports of goods in ‘cross-border concept’ (goods leaving the Czech Republic territory) amounted to value of CZK 302.8 bn and total imports in ‘cross-border concept’ (goods entering the Czech Republic territory) reached CZK 266.5 bn.

Total 'machinery and transport equipment' exports grew by 25.0% (CZK +33.7 bn) y−o−y. Exports went up mainly in ‘road vehicles’ (CZK +20.5 bn), 'telecommunications and sound-recording equipment' (by CZK +4.0 bn) and electrical machinery, apparatus and appliances’ (by CZK +3.2 bn). Total 'machinery and transport equipment' imports rose by 27.2% (CZK +24.7 bn), of which the largest increases were observed in road vehicles’ (CZK +6.6 bn), 'power-generating machinery and equipment' (by CZK +4.4 bn) and ‘electrical machinery, apparatus and appliances’ (by CZK +4.0 bn). ‘Mineral fuels, lubricants and related materials’ imports grew by 0.7% (CZK +0.2 bn), y−o−y. Imports of crude petroleum increased (by +67.8%) in value and (by +49.2%) in volume. Imports of natural gas went down (by −42.1% in value and (by −25.3%) in volume.

In January−July 2014 , exports and imports in cross-border concept grew by 15.9% and 14.2% respectively.

The final 2013 data says, that y-o-y exports and imports in cross-border concept grew by 3.3% to CZK 3 174.7 bn and 2.0% to CZK 2 823.5 bn respectively.

Detailed information on external trade in ‘cross-border concept’ is available on website: /csu/czso/vzoph_ts.


Notes:
Exports and imports in ‘national concept’ are derived from adjustments of data on movement of goods across the border (‘cross-border concept’). Goods which are moved in/from the territory of the Czech Republic by foreign entities are excluded and, on the other hand goods traded between the Czech and foreign entities on the territory of the Czech Republic are taken into account. Table 5 on website: /csu/czso/vzonu_ts shows this adjustment.
The both concepts of external trade include the value of goods sent for inward or outward processing. Goods sent for processing are going to be excluded from the value of exports and imports in the balance of payments and in the national accounts according to ESA and BPM6 since September 2014.
The data in national concept are used as an input data source for the balance of the payments and the national accounts.
The published data are based on data obtained of 98.5% of companies (for goods dispatched) and 98.2% of companies (for goods arrived) obliged to report to the Intrastat system. Data for companies that failed to report (non-response) have been imputed according to dispatches and arrivals that these companies reported in the previous periods. Data for companies exempted from the reporting duty were estimated on the basis of the data given in the VAT return forms. The VAT data which are not available are extrapolated on the basis of the values in previous periods.
The data for individual months of 2013 are final; the data for individual months of 2014 are preliminary. All data are processed from basic reporting units and subsequently rounded .
Detailed methodology information is available on website of the CZSO:
National concept:
/csu/czso/external_trade_in_goods_according_to_the_change_of_ownership_-national_concept-_
Cross-border concept:
/csu/czso/external_trade_in_goods_according_to_the_movement_-cross_border_concept-_
Responsible manager of the CZSO: Ing. Jaroslav Sixta, Ph.D. phone (+420) 274 054 253, e-mail: jaroslav.sixta@czso.cz
Contact: Mgr. Karel Král phone (+420) 274 052 161, e-mail: karel.kral@czso.cz
Method of data collection: Intrastat forms and Single administrative documents.
Value Added Tax declaration forms
End of data collection: 20th working day after the end of the reference month
Documents available on the CZSO website: w-241013-14 External Trade of the Czech Republic –detailed breakdown (periodicity: monthly): /csu/czso/external-trade-of-the-czech-republic-monthly-data-july-2014-a0zl4gsicy
External Trade Database: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release: October 7, 2014

This press release was not edited for language.

Published: 08.09.2014
The data are valid as of the release date of the publication.