External Trade - January 2007

In January 2007, according to preliminary data, exports and imports at current prices grew by 13.8% and 15.5% year-on-year, respectively. The trade balance reached a surplus of CZK 11.0 billion, which was by CZK 1.0 billion less year-on-year. A fall of CZK 1.4 billion in deficit of trade in mineral fuels, lubricants and related materials influenced the balance favourably, while lower surplus in machinery and trade equipment by CZK 1.4 billion was a negative effect.
According to preliminary data, seasonally adjusted exports increased by 1.4% and imports by 6.4% month-on-month. The trend component rose by 1.6% in exports and by 1.1% in imports.

Year-on-year, exports and imports at current prices were up by 13.8% and 15.5%, respectively. The growth rate of imports was higher than the growth rate of exports for the first time since July 2006. Due to appreciation of the Czech koruna against the euro and especially against the US dollar, external trade grew faster in terms of both euros (exports +17.4%, imports +19.2%) and US dollars (exports +26.1%, imports +28.0%) than external trade in Czech korunas.
The trade balance reached a surplus of CZK 11.0 billion, which was by CZK 1.0 billion down year-on-year. The trade balance with EU27 states was active by CZK 38.8 billion and with non-EU27 states passive by CZK 27.8 billion. Balance improved mainly in trade in ’mineral fuels, lubricants and related materials’ (deficit down by CZK 1.4 billion) and ‘crude materials, inedible, except fuels’ (the deficit of CZK 0.4 billion turned into a surplus of CZK 0.6 billion). Particularly, a fall in surplus of trade in ‘machinery and transport equipment’ by CZK 1.4 billion (the first y-o-y decrease since March 2004), ’manufactured goods classified chiefly by material’ by CZK 1.1 billion and a rise in deficit of trade in ‘food and live animals’ by CZK 0.4 billion affected the balance unfavourably.
In ‘machinery and transport equipment’, total exports grew by 12.9% (CZK +11.7 billion). The highest increases in exports were recorded for ‘road vehicles’ (CZK +2.9 billion), ‘general industrial machinery and equipment’ (CZK +2.5 billion), ‘office machines and automatic data-processing machines’ (CZK +1.4 billion) and ‘electrical machinery, apparatus and appliances’ (CZK +1.3 billion). Total imports of ‘machinery and transport equipment’ were up by 21.4% (CZK +13.1 billion), of which most ‘office machines and automatic data-processing machines’ (CZK +4.6 billion), ‘telecommunications and sound-recording equipment’ (CZK +3.0 billion), ‘road vehicles’ (CZK +1.9 billion) and ‘general industrial machinery and equipment’ (CZK +1.4 billion).
The total imports of ’mineral fuels, lubricants and related materials’ fell by CZK 4.8%. Imports of petroleum dropped in terms of value by 7.3%, while it rose in terms of volume by 1.9%; imports of natural gas increased by 5.0% in terms value and by 7.9% in terms of volume.
By group of countries, trade surplus with EU27 states rose by CZK 3.9 billion and trade deficit with non-EU27 states increased by CZK 4.9 billion. Increases were recorded for trade surplus with Slovakia (by CZK 3.1 billion), Germany (by CZK 1.6 billion) and the Netherlands (by CZK 0.7 billion); balance of trade with Norway turned from a deficit of CZK 0.3 billion into a surplus of CZK 0.4 billion and trade deficit with Russia decreased by CZK 0.5 billion. On the other hand, trade deficit grew with China by CZK 3.1 billion, trade surpluses with France and Belgium dropped by CZK 1.2 billion and CZK 0.4 billion, respectively, and the trade balance with the United States and Ireland turned from surplus into a deficit (deterioration by CZK 0.7 billion with each).

In the twelve months to January 2007 compared with the previous twelve months, exports and imports grew by 14.3% and 14.4%, respectively. The trade balance reached a surplus of CZK 43.4 billion, which represents an improvement of CZK 3.8 billion.
Trade in ‘machinery and transport equipment’ (surplus up by CZK 53.0 billion) and ‘crude materials, inedible, except fuels’ (deficit down by CZK 1.9 billion) had a favourable effect on the balance of trade. Conversely, the trade balance in ‘mineral fuels, lubricants and related materials’ (deficit up by CZK 21.6 billion), ‘manufactured goods classified chiefly by material’ (surplus down by CZK 12.7 billion), chemicals and related products’ (deficit up by CZK 7.1 billion), ‘food and live animals’ (deficit up by CZK 6.0 billion) and ‘miscellaneous manufactured articles‘ (surplus down by CZK 3.2 billion) deteriorated.
By group of countries, trade surplus with EU27 states was higher by CZK 59.6 billion, while trade deficit with non-EU27 states increased by CZK 55.8 billion. Deficit turning into a surplus improved the trade balance with Sweden (by CZK 13.8 billion), Italy (by CZK 8.2 billion) and Switzerland (by CZK 5.8 billion). Increases were registered for trade surplus with Slovakia (by CZK 9.8 billion), Germany (by CZK 9.0 billion), Ukraine (by CZK 7.5 billion), France (by CZK 6.4 billion) and Belgium (by CZK 5.3 billion). Conversely, trade deficits grew with China (by CZK 31.9 billion), Russia (by CZK 8.2 billion) and Taiwan (by CZK 6.4 billion), and trade surplus fell with Poland (by CZK 6.1 billion). Surplus turning into a deficit deteriorated the balance with the United States by CZK 4.7 billion.

According to the CZSO’s regular quarterly update, the 2006 trade surplus amounted to CZK 44.4 billion (down by CZK 2.9 billion).
According to the note of the Directorate General of Customs, data were received from 93.5% of the companies obliged to report to the Intrastat system.
Data on companies exempted from the reporting duty (those whose annual value of trade with the EU member states was below CZK 4 million for goods dispatched and below CZK 2 million for goods received) and data on companies that failed to report were imputed. The imputation methods are based on data that the companies supplied in the previous period and on data from tax returns.

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Note
Contact: Petra Křížová, phone (+420) 274 054 270, e-mail: petra.krizova@csu.gov.cz
Data source: Intrastat reports and Single Administrative Documents (SADs)
Related publication: 6001-07 External Trade of the Czech Republic in January 2007
http://www.czso.cz/csu/2007edicniplan.nsf/engs/2007-6


The data for individual months of 2006 are updated referring to 28 February 2007 closing date.
The data for January 2007 are preliminary and refer to 28 February 2007 closing date; they will be updated in June 2007 together with data for individual months of 2006 and 2007.