International trade in goods (change of ownership) - April 2020
Trade Balance Significantly Affected by a Decrease in Motor Vehicle Exports
Publication Date: 08. 06. 2020
Product Code: 241018-20
According to preliminary data in current prices, the trade balance of goods in April 2020 ended in a deficit of CZK 26.9 bn, which was by CZK 42.9 bn worse result, year−on−year (y−o−y).
The total balance of international trade1) in goods2) was significantly influenced by the impacts of measures taken to against the spread of the coronavirus (production stoppages and business closures). Y−o−y, surplus in 'motor vehicles, trailers and semitrailers' fell by CZK 35.7 bn, of which exports and imports decreased by CZK 69.8 bn and CZK 34.1 bn, respectively.
Further, the trade balance deteriorated in 'computer, electronic and optical products' (by CZK 4.7 bn), 'electrical equipment' (by CZK 4.6 bn), 'rubber and plastics products' (by CZK 3.4 bn), 'textiles' (by CZK 3.2 bn), 'machinery and equipment' (CZK 2.7 bn), 'other transport vehicles' (by CZK 2.1 bn) and 'basic pharmaceutical products' (by CZK 1.4 bn).
The total balance was favourably influenced mainly by smaller deficits of international trade in 'crude petroleum and natural gas' (by CZK 6.5 bn) (the impact of falling prices on world markets and lower imported quantities), 'basic metals' (by CZK 4.7 bn) and 'chemicals and chemical products' (by CZK 1.8 bn).
In April 2020, the trade balance with the EU273) Member States ended in a surplus of CZK 23.2 bn, and thus it was by CZK 34.0 bn lower, y−o−y. The trade deficit with non−EU27 countries deepened by CZK 9.5 bn to reach the amount of CZK 48.9 bn.
Compared to March 2020, the seasonally adjusted exports and imports fell by 19.4% and 12.6%, respectively. The trend shows decreasing exports (−12.4%) and imports (−8.4%).
Compared to the same month in 2019, April exports decreased by 39.3% to CZK 191.4 bn and imports fell by 27.0% to CZK 218.3 bn. April 2020 had the same number of working days as April 2019.
In the period from January to April 2020, the trade balance surplus reached CZK 14.0 bn, which represented a decrease by CZK 50.7 bn, y−o−y. From the beginning of the year, exports and imports went down by 13.2% and 9.6%, respectively, y−o−y.
Detailed information on international trade in goods (change of ownership) can be found at:
https://csu.gov.cz/external_trade_in_goods_according_to_the_change_of_ownership_-national_concept-_.
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Beware of the terminology change:
Since 2020, the Czech Statistical Office (CZSO) has changed the terminology and the manner in which data is presented. The external trade is now referred to as international trade. The data based on the change of ownership between residents and non-residents (former so-called the 'national concept of external trade'), from now on, is referred to as 'international trade in goods (change of ownership)'. The 'cross-border concept of external trade' is referred to Cross-border movements of goods.
Further information: https://csu.gov.cz/produkty/changes-in-international-trade-statistics.
Notice:
Starting from the publishing data for February 2020 (on 6 April 2020), the method of updating data for the international trade in goods (change of ownership) has been changed. When data for the reference month is published, six previous months are updated. All months with preliminary data are updated when data for January, April and July is published. Final data shall be published always in September of the following year.
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1) The international trade balance is the difference between exports from the Czech Republic and import to the Czech Republic
2) The international trade in goods (change of ownership) reflects export and import performance of the Czech economy, i.e. the international trade balance of the Czech Republic as well. It measures real trade in goods carried out between Czech entities and foreign ones, i.e. the change of ownership between residents and non-residents.
3) The EU27 - from 1 February 2020 the United Kingdom is not a member of the European Union.
Notes:
Data for companies, which are subject to the reporting duty and which 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 2018 are final; data for respective months of 2019 and 2020 are preliminary.
Responsible head at the CZSO: Miluše Kavěnová, Director of International Trade Statistics Department, phone number (+420) 274 054 176, e-mail: miluse.kavenova@csu.gov.cz
Contact person: Stanislav Konvička, Head of Trade Balance Unit, phone number (+420) 274 054 254, e-mail: stanislav.konvicka@csu.gov.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: https://csu.gov.cz/produkty/vzonu_ts
Next News Release will be published on: 7 July 2020