External trade - March 2017

According to preliminary data, in March 2017 the external trade balance in goods ended in a surplus of CZK 22.6 bn, which was by CZK 1.7 bn more, year−on−year (y−o−y).

The total balance in the national concept¹⁾, y-o-y, was influenced mainly by a growth of a surplus in 'machinery and equipment' (by CZK 4.0 bn), 'motor vehicles' (by CZK 3.4 bn), 'other transport equipment' (by CZK 0.8 bn) and 'rubber and 'plastics products' (by CZK 0.5 bn). A deficit of trade in 'coke and refined petroleum products' decreased by CZK 1.2 bn. The total balance was affected in an adverse manner mainly by a deeper deficit of trade in 'crude petroleum and natural gas' (by CZK 5.2 bn), 'basic metals' (by CZK 3.3 bn), 'pharmaceutical products' (by CZK 0.9 bn) and 'food products' (by CZK 0.7 bn).

In March 2017 the trade balance with the EU28 Member States ended in a surplus of CZK 64.5 bn, and thus it was by CZK 6.1 bn higher, y-o-y. A deficit of trade with the non-EU countries increased by CZK 4.3 bn to reach the amount of CZK 39.9 bn.

Compared to February 2017 the seasonally adjusted exports and imports in the national concept grew by 1.9% and 3.5%, month−on−month, respectively. The development trend shows increasing exports (+0.7%) and imports (+1.7%).

Compared to the same month of 2016, exports and imports grew by 12.7% (to CZK 329.9 bn) and 13.0% (to CZK 307.3 bn), respectively.

In the period from January to March 2017 the trade balance surplus in the national concept reached CZK 63.1 bn which represented an increase by CZK 1.3 bn, y−o−y. From the beginning of the year exports and imports went up by 7.9% and 8.3%, y−o−y, respectively.

Detailed information on external trade in the national concept is available on the website: https://csu.gov.cz/produkty/vzonu_ts.

Information on cross-border movement of goods

According to preliminary data of the cross-border concept²⁾ in March 2017 export and imports in current prices grew by 10.9% and 12.7%, y−o−y, respectively. Total exports and imports of goods amounted to a value of CZK 389.0 bn and CZK 338.9 bn, respectively.

According to the Eurostat statistics, in February 2017 the Czech Republic shares in the total exports and imports of the European Union were 3.0% and 2.7%, respectively.

Detailed information on external trade in the cross-border concept broken down by type of goods and by territory can be found on the website: https://csu.gov.cz/produkty/vzoph_ts.

You can also find the External Trade Database available there:
http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN.

¹⁾ The national concept of external trade reflects export and import performance of the Czech economy, i.e. the external trade balance of the Czech Republic as well. It measures real trade in goods carried out between Czech and foreign entities, i.e. a change of ownership between residents and non-residents.

²⁾ The cross-border concept of external trade reflects only physical movements of goods across the border regardless of whether the trade between Czech and foreign entities occurs. These data are internationally comparable and can be used as indicators of development in the value of trade.

Data for companies, that 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 respective months of 2016 and 2017 are preliminary. Data for the previous three months in the cross-border concept, data for the last finished quarter, and data for respective months of the reference quarter in the national concept are all published revised (more precise) together with releasing the preliminary data for the reference month. All data are processed from basic reporting units and subsequently rounded.

Detailed methodology information is published on the CZSO website
for the national concept:
https://csu.gov.cz/2-vzonu_m ; and
for the cross-border concept:
https://csu.gov.cz/whatisexternal_trade

Responsible head at the CZSO: Jaroslav Sixta, phone (+420) 274 054 253, e-mail: jaroslav.sixta@csu.gov.cz
Contact person: Karel Král, phone (+420) 274 052 161, e-mail: karel.kral@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: w-241013-17 External Trade of the Czech Republic –detailed breakdown (monthly): https://www.czso.cz/current-product/41320
w-241014-17 External Trade of the Czech Republic –by CZ-CPA in the national concept (quarterly) https://csu.gov.cz/produkty/external-trade-of-the-czech-republic-by-cz-cpa-quarterly-data-1-quarter-of-2017-vrq34rg7ic
External Trade Database is available on: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release will be published on: 6 June 2017