External trade - July 2018

The Trade Balance ended in a Deficit in July

06.09.2018
Code: 241018-18
 

According to preliminary data in current prices, in July 2018 the external trade balance in goods ended in a deficit of CZK 4.8 bn, which was by CZK 2.9 bn higher, year−on−year (y−o−y).

The total balance in the national concept1), was unfavourably influenced mainly by a larger deficit of balance in 'crude petroleum and natural gas' by CZK 2.9 bn, 'chemicals and chemical products' by CZK 1.3 bn and 'refined petroleum products' by CZK 1.0 bn. The trade surplus in 'motor vehicles, trailers and semitrailers' went down by CZK 1.3 bn and balance of 'other transport vehicles' got worse by the same amount as a surplus turned into a deficit.

A better balance of 'computer, electronic and optical products' by CZK 2.2 bn brought the main positive effect on the total balance.

In July 2018 the trade balance with the EU28 Member States ended in a surplus of CZK 44.1 bn, and thus it was by CZK 5.1 bn higher, y−o−y. The trade deficit with the non-EU countries increased by CZK 7.9 bn to reach the amount of CZK 47.6 bn.

Compared to June 2018 both the seasonally adjusted exports and imports in the national concept decreased by 0.6%. The development trend shows increasing both exports and imports by +0.6%.

Compared to the same month of 2017, exports and imports rose by 11.1% (to CZK 268.0 bn) and 12.2% (to CZK 272.8 bn) respectively. July 2018 had one working day more than July 2017.

In the period from January to July 2018 the trade balance surplus in the national concept reached CZK 100.9 bn which represented a decrease by CZK 22.2 bn, y−o−y. From the beginning of the year exports and imports increased by 1.6% and 2.9% respectively, y−o−y.

The CZSO has carried out the regular annual update. The final 2017 data in the national concept says, that y-o-y exports and imports grew by 6.5% to CZK 3 512.9 bn and 6.8% to CZK 3 349.4 bn respectively. The trade balance for the year 2017 reached a surplus of CZK 163.5 bn against CZK 163.7 bn in 2016.

Detailed information on external trade in the national concept:
https://www.czso.cz/csu/czso/external_trade_in_goods_according_to_the_change_of_ownership_-national_concept-.


Information on the cross-border movement of goods

According to preliminary data in current prices of the cross-border concept2) in July 2018 exports and imports increased by 10.0% and 13.2% respectively. Total exports and imports of goods amounted to a value of CZK 329.6 bn and CZK 317.5 bn, respectively.

The final 2017 data says, that y-o-y exports and imports in the cross-border concept grew by 6.8% to CZK 4 244.6 bn and 8.8% to CZK 3 801.4 bn respectively.

According to the Eurostat statistics, in June 2018 the Czech Republic shares in the total exports and imports of the European Union were 3.0% and 2.8%, respectively.

Detailed information on external trade in the cross-border concept:
https://www.czso.cz/csu/czso/external_trade_in_goods_according_to_the_movement_-cross_border_concept-.

 

Notes:
1) The 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 Czech and foreign entities, i.e. a change of ownership between residents and non-residents.
2) The cross-border concept of external trade reflects only physical movements of goods across the border regardless of whether the trade between Czech and foreign entities occurs. These data are internationally comparable and can be used as indicators of development in the value of trade.
Data for companies, that failed to report data (non-response), have been imputed according to dispatches and receptions these companies reported in the previous period. Data for companies exempted from the reporting duty were estimated on the basis of the data given in the VAT return forms. The data, which were not available from the VAT return forms, are estimated on the basis of the values for previous periods.

Data for 2016 and 2017 are final and data for 2018 are preliminary.

Responsible head at the CZSO: Karel Král, Director of External Trade Statistics Department, phone number (+420) 274 054 253, e-mail: karel.kral@czso.cz
Contact person: Marcela Sládková, Head of External Trade Statistics Outputs Unit, phone number (+420) 274 054 059, e-mail: marcela.sladkova@czso.cz
Method of data collection: Intrastat forms and single administrative documents; and value added tax return forms
End of data collection: 20th working day after the end of the reference month
Following data set: w-241013-18 External Trade of the Czech Republic –detailed breakdown (monthly): https://www.czso.cz/current-product/41320
External Trade Database is available on: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release will be published on: 9 October 2018

 

  •      avzo090618.docx
  • Annexes:
  • Chart 1 Balance of external trade in goods in the national concept (total trade balance, trade balances with the EU Member States and non-EU countries)
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Published: 06.09.2018
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