External Trade - May 2007

According to preliminary data for May 2007, exports and imports at current prices grew by 12.8% and 10.3% year-on-year, respectively. External trade reached a surplus of CZK 6.9 billion, which was an improvement of CZK 4.7 billion year-on-year. The trade balance was affected favourably by a CZK 2.7 billion decrease in deficit in mineral fuels, lubricants and related materials and by a CZK 2.6 billion better result in trade in miscellaneous manufactured articles.
According to preliminary data, seasonally adjusted exports decreased by 0.6% and imports rose by 0.9% month-on-month. The trend component fell by 0.3% in exports and increased by 0.7% in imports.

Year-on-year, exports and imports at current prices were up by 12.8% and 10.3%, respectively. Due to appreciation of the Czech koruna against the euro and especially against the US dollar, external trade grew faster in euros (exports +12.9%, imports +10.5%) and in US dollars (exports +19.5%, imports +16.9%) than in Czech korunas.
The trade balance reached a surplus of CZK 6.9 billion, which was by CZK 4.7 billion more year-on-year. The balance has shown a surplus every May since 2004. The trade balance with EU27 states was active by CZK 33.0 billion and with non-EU27 states passive by CZK 26.1 billion.
The balance improved mainly in trade in ’mineral fuels, lubricants and related materials’ (deficit down by CZK 2.7 billion) and ‘miscellaneous manufactured articles’ (improvement of CZK 2.6 billion through deficit turning into surplus). Surplus rose in trade in ‘crude materials, inedible, except fuels’ (by CZK 1.2 billion) and ‘machinery and transport equipment’ (by CZK 0.7 billion). Balance deteriorated in ’manufactured goods classified chiefly by material’ (surplus down by CZK 1.2 billion), ‘chemicals and related products’ (deficit up by CZK 0.8 billion) and ’food and live animals’ (deficit up by CZK 0.6 billion).
Total exports of ‘machinery and transport equipment’ grew by 11.8% (CZK +11.2 billion), of which the highest increases were recorded in ‘telecommunications and sound-recording equipment’ (CZK +2.6 billion), ‘general industrial machinery and equipment’ (CZK +2.4 billion) and ‘automatic data-processing machines’ (CZK +1.8 billion). Exports of road vehicles increased only by CZK 0.1 billion. Total imports of ‘machinery and transport equipment’ were up by 14.8% (CZK +10.5 billion). The highest increases were achieved in ‘telecommunications and sound-recording equipment’ (CZK +3.1 billion), ’road vehicles’ (CZK +2.4 billion) and ‘automatic data-processing machines’ (CZK +2.3 billion).
The decrease in imports of ’mineral fuels, lubricants and related materials’ by 14.9% (CZK -2.8 billion) was mainly influenced by low imports of natural gas, which fell by 38.4% in terms of value and by 31.0% in terms of volume. Imports of crude petroleum dropped by 6.4% in terms of value, while they rose by 24.5% in terms of volume.
By group of countries, trade surplus with EU27 states rose by CZK 5.2 billion and trade deficit with non-EU27 states increased by CZK 0.5 billion. Trade deficit with Russia decreased (by CZK 4.6 billion); trade surplus rose with Slovakia (by CZK 2.8 billion), France (by CZK 1.4 billion), the United Kingdom (by CZK 1.2 billion), Poland and Ukraine (both by CZK 0.8 billion) and Germany (by CZK 0.7 billion). Trade deficit grew with China (by CZK 3.3 billion), Japan (by CZK 0.7) billion and Ireland (by CZK 0.6 billion), and trade surplus fell with Austria (by CZK 1.1 billion). Surplus turning into deficit deteriorated the balance with the Netherlands (by CZK 1.6 billion) and the United States (by CZK 1.2 billion).

In the twelve months to May 2007, compared with the previous twelve months, exports and imports grew by 15.1% and 14.1%, respectively. The trade balance reached a surplus of CZK 61.3 billion, which was an improvement of CZK 24.8 billion.
In particular, trade balance in ‘machinery and transport equipment’ was better (surplus up by CZK 44.5 billion). Improved balance due to deficit turning into surplus was reported for trade in ‘crude materials, inedible, except fuels’ (by CZK 7.5 billion) and ‘beverages and tobacco’ (by CZK 3.6 billion). Deficit decreased in trade in ‘mineral fuels, lubricants and related materials’ (by CZK 3.4 billion) and surplus rose in ‘miscellaneous manufactured articles‘ (by CZK 0.6 billion). Trade balance deteriorated in ‘manufactured goods classified chiefly by material’ (surplus down by CZK 15.4 billion), ‘chemicals and related products’ (deficit up by CZK 11.2 billion), and ‘food and live animals’ (deficit up by CZK 7.9 billion).
By group of countries, trade surplus with EU27 states was higher by CZK 72.8 billion, while trade deficit with non-EU27 states increased by CZK 48.0 billion. Surplus rose in trade with Slovakia (by CZK 19.3 billion), Germany (by CZK 15.7 billion), Sweden (by CZK 10.2 billion), the United Kingdom (by CZK 7.6 billion) and Poland (by CZK 4.5 billion). Deficit dropped in trade with Russia (by CZK 9.8 billion) and Norway (by CZK 4.7 billion). Due to deficit turning into surplus, balance improved in trade with Italy (by CZK 5.5 billion) and Switzerland (by CZK 5.0). Trade deficit grew with China (by CZK 38.1 billion), the Netherlands (by CZK 4.6 billion), Taiwan (by CZK 4.2 billion) and Japan (by CZK 3.1 billion). The trade balance with the United States deteriorated (by CZK 5.7 billion) as surplus turned into a deficit.

In January-May 2007 exports and imports grew by 16.4% and 14.7%, respectively. The trade surplus of CZK 44.4 billion was by CZK 18.3 billion higher year-on-year.
According to the note of the Directorate General of Customs, the data were received from 94,2% 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 have been imputed. The imputation methods are based on data that the companies supplied in the previous period and on data from the tax returns.

---

Note
Contact: Karel Král, phone (+420) 274 052 161, e-mail: karel.kral@csu.gov.cz
Data source: Intrastat reports and Single Administrative Documents (SADs)
Related publication: 6001-07 External Trade of the Czech Republic in January - May 2007
http://www.czso.cz/csu/2007edicniplan.nsf/engs/2007-6
The table with data on imports (FOB) of goods is used by the Czech National Bank for calculating the balance of payments.
/vzo_ts
The data for individual months of 2006 and data for individual months of Q1 2007 are updated referring to 16 May 2007 closing date.
The May 2007 data are preliminary referring to 28 June 2007 closing date and will be updated together with the data for the individual months of Q1 and Q2 2007 in September 2007 when final data for the year 2006 will be published.