External Trade - November 2011

In November 2011, according to preliminary data of ‘border statistics’, exports and imports at current prices rose by 9.6% and 6.3%, year-on-year (y-o-y), respectively. The trade balance ended in a surplus of CZK 18.4 bn, which was by CZK 8.5 bn more compare to November 2010. The external trade turnover amounted to CZK 511.6 bn reaching the highest monthly value of turnover since the establishment of the Czech Republic

According to preliminary data of ‘border statistics’, seasonally adjusted exports and imports rose by 0.6% and 2.7%, respectively, compared to October 2011. The development trend shows increasing exports (+1.1%) and imports (+0.9%).

Year-on-year, exports and imports at current prices rose by 9.6% (CZK 23.2 bn) and 6.3% (CZK 14.6 bn) respectively. The external trade turnover increased by 8.0% (CZK 37.8 bn) to amount to CZK 511.6 bn y-o-y reaching the highest monthly value since 1993. In 2010, the largest monthly turnover was recorded in November as well. Due to depreciation of the CZK against the both main currencies, external trade grew slower in EUR (exports +6.1% and imports +2.9%) and in USD (exports +5.2% and imports +2.1%) than external trade expressed in CZK.

The trade balance showed a surplus of CZK 18.4 bn, which was by CZK 8.5 larger y-o-y. Compared to November 2010, surplus rose in ‘machinery and transport equipment’ (by CZK 8.0 bn), ‘manufactured goods classified chiefly by material’ (by CZK 3.8 bn) and ‘miscellaneous manufactured articles’ (by CZK 1.1 bn); and it decreased in ‘crude materials, inedible, except fuels’ (by CZK 1.0 bn). Deficit deepened in ‘mineral fuels, lubricants and related materials’ (by CZK 2.5 bn) and ‘chemicals and related products’ (by CZK 1.8 bn). On the other hand, deficit shrank in ‘food and live animals’ (by CZK 1.3 bn); and deficit in trade in ‘beverages and tobacco’ (CZK -0.1 bn) remained on the same level as in November 2010.

Total 'machinery and transport equipment' exports went up by 8.0% (CZK +10.8 bn), y-o-y. The biggest increases in exports were observed mainly in exports of ‘road vehicles’ (CZK +3.7 bn), ‘general industrial machinery and equipment’ (CZK +2.7 bn) and ‘machinery specialized for particular industries’ (CZK +1.1 bn). Total 'machinery and transport equipment' imports rose by 2.6% (CZK +2.8 bn), y-o-y. Imports increased in ‘telecommunications and sound-recording equipment’ (CZK +5.2 bn) and ‘office machines, automatic data-processing machines’ (CZK +2.4 bn). On the contrary, imports of ‘electrical machinery, apparatus and appliances’ fell (CZK -9.0 bn). Mineral fuels, lubricants and related materials’ imports grew by 17.2% (CZK 3.6 bn), y-o-y. Imports of crude petroleum rose by 13.6% in value but dropped by 20.9% in volume. Imports of natural gas increased by 1.3% in value and decreased by 9.6% in volume.

A surplus of trade balance with EU Member States grew by CZK 5.5 bn y-o-y to CZK 62.4 bn. Trade balance with non-EU countries ended in a deficit of CZK 44.0 bn which was by CZK 3.0 bn lower compared to November 2010. Surplus rose in trade with France (by CZK 1.7 bn), Spain (by ZK 1.0 bn), Germany (by CZK 0.8 bn) and Slovakia (by CZK 0.7 bn). Deficit decreased in trade with the Russian Federation (by CZK 5.1 bn) and Thailand (by CZK 1.4 bn); and the trade balance improved with the United States (by CZK 1.5 bn) as a deficit turned into a surplus. Deficit widened in trade with China (by CZK 3.8 bn), Azerbaijan (by CZK 1.3 bn) and Korea (by CZK 1.1 bn).

In January-November 2011 compared to January-November 2010, exports and imports rose by 13.4% and 11.5% respectively. The trade balance ended in a surplus of CZK 178.5 bn, which was an increase of CZK 57.3 bn, y-o-y. The trade balance improved mainly in ‘machinery and transport equipment’ (surplus up by CZK 93.7 bn). On the contrary, deficit increased in ‘mineral fuels, lubricants and related materials’ (by CZK 31.6 bn) and ‘chemicals and related products’ (by CZK 18.2 bn).

According to the methodology of balance of payments in national concept based on the concept of change of ownership between residents and non-residents, trade balance in November 2011 ended in a surplus of CZK 4.3 bn. The data on exports and imports of goods, calculated by using the VAT data according to this concept, are available in Table 8 and in the time series External trade in goods according to change of ownership (national concept).

According to the CZSO sources data were obtained from 98.0% of companies (for goods dispatched) and 98.3% of companies (for goods arrived) obliged to report to the Intrastat system. Data for companies, exempted from the reporting duty, in accordance with the amended Decree No. 201/2005 Sb., and for companies that failed to report, have been imputed. The imputation methods are based on data of trade implemented that the companies reported in the previous period and data given in the VAT return forms.

The data according to the methodology of Balance of Payments and National Accounts are monthly calculated on the basis of External Trade Statistics data in combination with the Value Added Tax data. The data are extrapolated from the data of previous periods for the months where the data from Value Added Tax declarations are not available. This methodology consists in value substitution of goods operation done by non-residents by its value added, i.e. the difference between the value of inland purchased good in case of exports or sale to inland in case of imports and the value declared crossing the border. While the aim of External Trade Statistics, which has been published in national concept until now according to the regulations of the Parliament and the Council of the European Union, has been recording of the movement of goods across the border, the methodology of Balance of Payments stress the change of ownership between the residents and non-residents.


Responsible manager of the CZSO: Ing. Marek Rojíček, Ph.D., Director of Macroeconomic Statistics Branch, phone (+420) 274 052 486
E-mail: marek.rojicek@csu.gov.cz
Contact: Karel Král, Director of External Trade Statistics Department, phone (+420) 274 052 161
E-mail: karel.kral@csu.gov.cz
Method of data collection: Intrastat forms and Single administrative documents.
End of data collection: 20 ^th working day after the end of the reference month
Documents available on the CZSO website: w-6001-11 External Trade of the Czech Republic –detailed breakdown (periodicity: monthly): /produkty/external-trade-of-the-czech-republic-january-december-2011-1cazdiibf0
External Trade Database: /ep-6-opendocument
Next News Release: 7 February 2012

The data for individual months of 2010 are final; the data for individual months of 2011 are preliminary. Preliminary data of the reference month are released together with updated data of the previous three months. All data are processed from basic reporting units and subsequently rounded.

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