International trade in goods (change of ownership) - June 2020

According to preliminary data in current prices, the trade balance of goods in June 2020 ended in a surplus of CZK 34.1 bn, which was by CZK 17.6 bn higher, year−on−year (y−o−y).

Total balance of international trade¹⁾ in goods²⁾ was favourably influenced mainly by an increase of surplus in 'motor vehicles, trailers and semitrailers' by CZK 9.0 bn (due to a fall of imports by CZK 9.6 bn); and a smaller trade deficit in 'crude petroleum and natural gas' by CZK 8.2 bn (the impact of falling prices on world markets and lower imported quantities). Balances of 'machinery and equipment' and 'basic metals' improved by the same amount (CZK 2.3 bn).

The trade balance deteriorated in 'computer, electronic and optical products' (by CZK 7.5 bn) and 'electrical equipment' (by CZK 2.4 bn).

In June 2020, the trade balance with the EU27³⁾ Member States ended in a surplus of CZK 67.1 bn, and thus it was by CZK 13.1 bn higher, y−o−y. The trade deficit with non−EU27 countries shrank by CZK 4.3 bn to reach the amount of CZK 31.4 bn.

Compared to May 2020, the seasonally adjusted exports and imports rose by 12.0% and 3.8%, respectively. The trend shows increasing exports (+4.0%) and imports (+3.1%).

Compared to the same month in 2019, June exports decreased by 0.4% to CZK 301.5 bn and imports fell by 6.6% to CZK 267.4 bn. June 2020 had two more working days than June 2019.

In the period from January to June 2020, the trade balance surplus reached CZK 50.5 bn, which represented a decrease by CZK 54.1 bn, y−o−y. From the beginning of the year, exports and imports went down by 13.6% and 11.4%, 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, March and July is published. Final data shall be published always in September of the following year.

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Notes:

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.

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 sets: https://csu.gov.cz/produkty/vzonu_ts
w-241014-20 External Trade of the Czech Republic –by CZ-CPA (quarterly)
https://www.czso.cz/current-product/41321
Next News Release will be published on: 7 September 2020