External Trade - June 2006

In June 2006, according to preliminary data, exports and imports at current prices rose by 9,5% and 10.0% year-on-year, respectively. The trade balance ended in a surplus of CZK 8.9 billion, i.e. only by CZK 0.1 billion more than in June 2005. The biggest increase occurred in surplus of trade in machinery and transport equipment (by CZK 5.6 billion), on the contrary deficit in trade in mineral fuels, lubricants and related materials worsened markedly (by CZK 4.3 billion).
According to preliminary data, seasonally adjusted exports decreased by 1.9% and imports by 1.7% month-on-month. The trend component rose by 1.1% in exports and by 0.4% in imports.

In terms of year-on-year comparison, exports and imports at current prices were up by 9.5% and 10.0%, respectively. Due to the appreciation of the Czech koruna against the euro and against the US dollar, external trade grew faster in terms of euros (exports +15.9%, imports +16.3%) and in terms of US dollars (exports +20.5% and imports +21.0%) than external trade in Czech korunas.
The trade balance ended in a surplus of CZK 8.9 billion, which has been only a slightly better result compared to the same month of the previous year. Trade balance with the EU member states was active by CZK 31.2 billion and with the non-EU states passive by CZK 22.3 billion.
The balance improved especially in trade in ‘machinery and transport equipment’ (surplus rose by CZK 5.6 billion) and ‘beverages and tobacco’ (a surplus of CZK 0.3 billion as against a deficit of CZK 0.3 billion). The balance was negatively affected by results in trade in ’mineral fuels, lubricants and related materials’ (a CZK 4.3 billion increase of deficit), ‘miscellaneous manufactured articles‘ (a CZK 0.8 billion fall in surplus) and ‘food and live animals’ (a CZK 0.7 billion increase of deficit).
The growth of total exports of ‘machinery and transport equipment’ grew by 14.0% (by CZK 11.7 billion). The highest share in this growth in terms of value had increases in exports of ‘road vehicles’ (CZK +4.7billion), ‘telecommunications and sound-recording equipment’ (CZK +2.0 billion) and ‘office machines and automatic data-processing machines’ (CZK +1.5 billion). Imports of ‘machinery and transport equipment’ were up by 9.7% (CZK +6.1 billion) in total, of which most imports of ‘office machines and automatic data-processing machines’ (CZK +2.8 billion), telecommunications and sound-recording equipment’ (CZK +1.5 billion), ‘power-generating machinery and equipment’ (CZK +0.8 billion) and ‘road vehicles’ (CZK +0.8 billion).
The higher imports of ‘mineral fuels, lubricants and related materials’ by 34.4% (CZK +4.5 billion) were mainly influenced by imports of crude petroleum (+73.4% in terms of value, +28.4% in terms of volume). Imports of natural gas in terms of value rose by 25.7% while in terms of volume dropped by 3.3%.
By group of countries, trade surplus with the EU member states rose by CZK 6.3 billion and trade deficit with the non-EU states increased by CZK 6.2 billion. Balance improved particularly in trade with Germany by CZK 1.6 billion, Switzerland by CZK 1.3 billion, France by CZK 1.2 billion, Hungary by CZK 1.1 billion and Slovakia by CZK 0.8 billion. On the other hand, balance deteriorated in trade with Russia by CZK 2.5 billion, China by CZK 1.9 billion, Poland by CZK 0.8 billion, Taiwan by CZK 0.5 billion and Malaysia by CZK 0.5 billion.

Over the last twelve months, compared to the preceding twelve months, exports and imports grew by 10.9% and 9.9%, respectively. The trade balance reached a surplus of CZK 36.7 billion, which was an improvement of CZK 18.2 billion.
Trade in ‘machinery and transport equipment’ (surplus up by CZK 73.6 billion), ‘miscellaneous manufactured articles‘ (surplus up by CZK 4.1 billion), ‘crude materials, inedible, except fuels’ (deficit down by CZK 3.8 billion) and ‘food and live animals’ (deficit down by CZK 1.9 billion) had a favourable effect on the development of the trade balance. On the other hand, balance deteriorated in trade with ‘mineral fuels, lubricants and related materials’ (deficit up by CZK 51.0 billion), ‘manufactured goods classified chiefly by material’ (surplus down by CZK 11.3 billion), ‘chemicals and related products’ (deficit up by CZK 4.2 billion).
By group of countries, trade surplus with the EU member states was higher by CZK 37.9 billion, while trade deficit with the non-EU states increased by CZK 19.7 billion. Balance improved with France by CZK 14.3 billion, the United States by CZK 14.3 billion, Italy by CZK 12.3 billion, the United Kingdom by CZK 11.4 billion, Ukraine by CZK 10.5 billion, and Spain by CZK 7.1 billion. Balance deteriorated in trade with Russia by CZK 28.7 billion, China by CZK 21.1 billion, the Netherlands by CZK 11.7 billion, Poland by CZK 6.2 billion and Germany by CZK 6.1 billion.

January-June 2006 exports and imports grew by 12.9% and 13.8%, respectively. Trade surplus of CZK 35.1 billion was by CZK 2.8 billion lower year-on-year.
According to the note of the Directorate General of Customs, data were received from 94.6% of the companies obliged to report to the Intrastat system.
Data for 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 for companies that failed to report were imputed. The imputation methods are based on data that companies supplied in the previous period.

Analysis - External trade in the first half of 2006

---

Note
Contact: Kamil Kudlák, phone (+420) 274 052 520, e-mail: kamil.kudlak@csu.gov.cz
Data source: Intrastat reports and Single Administrative Documents (SADs)
Related publication: 6001-06 External Trade of the Czech Republic in January-June 2006 ( /ep-6-opendocument )
The data for individual months of 2005 and the data for individual months Q1 2006 are updated referring to 30 May 2006 closing date. The final 2005 data will be released in September 2006.
The June 2006 data are preliminary referring to 1 August 2006 closing date and will be updated together with the data for the individual months of the Q1 and Q2 2006 in September 2006.