External Trade - February 2013

In February 2013, according to preliminary data of ‘cross−border statistics’, exports and imports at current prices fell by 3.6% and 4.4%, year-on-year (y−o−y), respectively. The trade balance ended in a surplus of CZK 28.7 bn, which was by CZK 1.0 bn higher compared to February 2012.

According to preliminary data of ‘corss−border statistics’, seasonally adjusted exports fell by 0.6% while imports rose by 0.6% compared to January 2013. The development trend shows decreasing exports (−0.2%) and imports (−0.3%).

Year−on−year, exports and imports at current prices fell by 3.6% (CZK −9.0 bn) and 4.4% (CZK −10.0 bn) respectively. Exports of entities seated in the Czech Republic were lower by 3.7% (CZK −7.4 bn) and entities seated outside the Czech Republic fell by 2.9% (CZK −1.5 bn). Imports of entities seated in the Czech Republic dropped by 5.2% (CZK −9.8 bn) while imports of entities seated outside the Czech Republic decreased by 0.5% (CZK −0.2 bn).

Due to depreciation of the CZK against the both main currencies, external trade decreased in EUR (exports −5.2% and imports −6.1%) and in US dollars (exports −4.2% and imports −5.1%).

In February, the trade balance ended in a surplus of CZK 28.7 bn which was by CZK 1.0 bn higher y−o−y. The balance of trade of entities seated in the Czech Republic showed a surplus of CZK 12.2 bn (against a surplus of CZK 9.8 bn in February 2012), the trade balance of entities not seated in the Czech Republic recorded a surplus of CZK 16.5 bn (compared to a surplus of CZK 17.9 bn in February 2012).

Y−o−y, surplus fell in ‘machinery and transport equipment’ (by CZK 3.9 bn) and ‘manufactured goods classified chiefly by material’ (by CZK 0.4 bn). On the other hand, surplus increased in ‘miscellaneous manufactured articles’ (by CZK 1.5 bn), ‘beverages and tobacco’ (by CZK 0.3 bn) and ‘crude materials, inedible, except fuels’ (by CZK 0.2 bn). Deficit shrank in ‘mineral fuels, lubricants and related materials’ and ‘chemicals and related products’ by CZK 3.3 bn and CZK 0.2 bn respectively. The trade gap in ‘food and live animals’ (CZK −2.2 bn) remained at the same level as in February 2012.

Total 'machinery and transport equipment' exports went down by 4.8% (CZK −6.6 bn), y−o−y. Exports fell mainly in ‘road vehicles’ (CZK −4.4 bn), telecommunications and sound-recording equipment’ (CZK −1.3 bn) and ‘office machines, automatic data−processing machines’ (by CZK −1.0 bn). Total 'machinery and transport equipment' imports were by 2.9% (CZK −2.7 bn) lower, y−o−y, of which the biggest decreases were observed in imports of ‘road vehicles’ (CZK −1.9 bn) and ‘power-generating machinery and equipment’ (CZK −1.3 bn). Exports of ‘other transport equipment’ rose by CZK 2.7 bn. Imports of ‘mineral fuels, lubricants and related materials’ dropped by 26.3% (CZK −6.7 bn), y−o−y. Imports of crude petroleum grew by 0.1% in value and by 1.7% in volume. Imports of natural gas were lower by 50.9% in value and by 48.6% in volume.

The trade balance with EU Member States reached a surplus of CZK 53.4 bn, which was by CZK 6.1 bn lower, y−o−y. Deficit of trade with non-EU countries shrank by CZK 7.0 bn to CZK 24.1 bn. Surplus rose in trade with Slovakia and Turkey (both by CZK 1.2 bn) and with Germany (by CZK 0.5 bn). The trade balance improved with the Russian Federation (by CZK 3.0 bn) as a deficit turned into a surplus. Deficit shrank in trade with China (by CZK 0.4 bn). On the other hand, surplus fell in trade with France (by CZK 4.3 bn); and balance deteriorated in trade with the Netherland (by CZK 1.9 bn) as a surplus turned into a deficit. Deficit in trade with Poland increased (by CZK 1.2 bn).

In January-February 2013, exports and imports fell by 3.0% and 3.9% respectively. The trade balance surplus amounting to CZK 60.7 billion was up by CZK 2.5 billion y-o-y. The trade balance improved mainly in ‘miscellaneous manufactured articles’ (surplus up by CZK 2.6) and ‘mineral fuels, lubricants and related materials’ (deficit down by CZK 2.4 bn). On the other hand, surplus decreased in ‘machinery and transport equipment’ by CZK 2.5 bn.

The trade balance in national concept (methodology of balance of payments) reflecting performance of the Czech economy showed a surplus of CZK 14.7 bn in February 2013. 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).


Notes:
According to the CZSO sources data were obtained from 97.4% of companies (for goods dispatched) and 97.5% 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 for individual months of 2011 are final; the data for individual months of 2012 and 2013 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.
After the accession of the Czech Republic to the European Union, two systems of data collection are used as a source on external trade statistics in cross-border conception (cross−border statistics). Extrastat records data on trade with the non-EU countries and uses some data from Single Administrative Documents. Intrastat collects data on movement of goods within the European Union for entities that are obliged to provide Intrastat data. According to legal regulations of the European Communities, entities registered for Value Added Tax have a duty to provide data for Intrastat regardless of the fact, whether an entity is or is not seated in the Czech Republic (resident or non-resident). Detailed information is available in external trade methodology: /whatisexternal_trade
Responsible manager of the CZSO: Ing. Marek Rojíček, Ph.D., Director of Macroeconomic Statistics Branch, phone (+420) 274 052 486, E-mail: marek.rojicek@csu.gov.cz
Contact: Karel Král, Director of External Trade Statistics Department, phone (+420) 274 052 161, E-mail: karel.kral@csu.gov.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-6001-13 External Trade of the Czech Republic –detailed breakdown (periodicity: monthly): /produkty/external-trade-of-the-czech-republic-december-2013-gaipctvf7d
External Trade Database: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release: May 7, 2013

This press release was not edited for language.