External Trade - September 2007

According to preliminary data for September 2007, exports and imports at current prices grew by 11.0% and 7.6% year-on-year respectively. Trade balance reached a surplus of CZK 14.4 billion, which was an improvement of CZK 7.0 billion year-on-year. This figure was enhanced by a CZK 5.8 billion increase in trade surplus in machinery and transport equipment and by a CZK 1.9 billion decrease in trade deficit in mineral fuels, lubricants and related materials.
According to preliminary data, seasonally adjusted exports increased by 5.3% and imports fell by 3.1%, month-on-month. The trend component rose by 1.2% in exports and by 0.1% in imports.

Year-on-year, exports and imports at current prices were up by 11.0% and 7.6% respectively. Exports grew by the lowest rate since August 2006, imports since April 2006. The figures were influenced by the high comparable basis of September 2006 when the third highest turnover in 2006 was recorded. Due to appreciation of the koruna against the euro and even more against the US dollar, external trade grew faster in euros (exports +14.3%, imports +10.8%) and in US dollars (exports +24.6%, imports +20.8%) than in korunas.
The trade balance reached a surplus of CZK 14.4 billion, which was an improvement of CZK 7.0 billion in comparison to September 2006. This is the highest September surplus in the history of the Czech Republic and the second highest surplus in 2007. Trade balance with EU27 states was active by CZK 38.3 billion and with non-EU27 states passive by CZK 23.9 billion.
Especially a CZK 5.8 billion increase in trade surplus in ‘machinery and transport equipment’ and a CZK 1.9 billion decrease in trade deficit in ‘mineral fuels, lubricants and related materials’ contributed to the balance improvement. Increases of CZK 0.8 billion and CZK 0.7 billion were recorded in trade surplus in ‘miscellaneous manufactured articles’ and ‘crude materials, inedible, except fuels’ respectively. Trade deficit in ’food and live animals’ dropped by CZK 0.4 billion. The trade balance was negatively influenced by a CZK 1.2 billion fall of surplus in ’manufactured goods classified chiefly by material’ and by a CZK 1.2 billion increase of deficit in ‘chemicals and related products’.
Exports of ‘machinery and transport equipment’ grew by 15.1% (CZK 15.0 billion). The highest export increases were registered in ‘automatic data-processing machines’ (CZK 3.9 billion), ‘telecommunications and sound-recording equipment’ (CZK 3.4 billion) and ’road vehicles’ (CZK 3.0 billion). Total imports of ‘machinery and transport equipment’ were up by 12.1% (CZK 9.2 billion), of which the highest increases were reached in ‘telecommunications and sound-recording equipment’ (CZK 2.3 billion), ‘automatic data-processing machines’ (CZK 1.2 billion) and ‘other transport equipment’ (CZK 1.2 billion).
Lower imports of mineral fuels by 10.5% (CZK -1.9 billion) were mainly due to decreases in imports of natural gas (-34.9% in value, -31.6% in volume) and petroleum (-17.4% in value, −14.4% in volume).
By group of countries, trade surplus with EU27 states rose by CZK 4.0 billion and trade deficit with non-EU27 states decreased by CZK 3.0 billion. Deficit decreased in trade with the Russian Federation (by CZK 4.8 billion). Trade surplus grew with Sweden (by CZK 1.3 billion), the United Kingdom (by CZK 1.1 billion), France (by CZK 0.9 billion), Slovakia (by CZK 0.8 billion), Belgium (by CZK 0.8 billion) and Germany (by CZK 0.1 billion). Deficit turning into a surplus improved the trade balance with Norway (by CZK 1.1 billion). Trade deficit grew with China (by CZK 4.7 billion), Japan (by CZK 1.5 billion) and Thailand (by CZK 0.6 billion). Surplus dropped in trade with Austria (by CZK 1.5 billion) and Hungary (by CZK 0.7 billion).

In the twelve months to September 2007, compared with the previous twelve months, exports and imports grew by 16.3% and 14.7% respectively. The trade balance reached a surplus of CZK 74.6 billion, which was an improvement of CZK 38.7 billion.
Favourable development was reported for trade in ‘machinery and transport equipment’ (surplus up by CZK 35.5 billion), ‘mineral fuels, lubricants and related materials’ (deficit down by CZK 20.9 billion), ‘crude materials, inedible, except fuels’ (improvement by CZK 11.1 billion, deficit turned into a surplus), ‘miscellaneous manufactured articles‘ (surplus up by CZK 4.3 billion) and ‘beverages and tobacco’ (deficit down by CZK 1.4 billion). Trade balance deteriorated in ‘manufactured goods classified chiefly by material’ (surplus down by CZK 16.2 billion), ‘chemicals and related products’ (deficit up by CZK 14.2 billion), and ‘food and live animals’ (deficit up by CZK 4.7 billion).
By group of countries, trade surplus with EU27 states rose by CZK 66.9 billion and trade deficit with non-EU27 states increased by CZK 28.2 billion. Surplus rose in trade with Slovakia (by CZK 22.1 billion), Germany (by CZK 13.7 billion), the United Kingdom (by CZK 11.3 billion), Poland (by CZK 7.7 billion) and France (by CZK 7.4 billion). Deficit decreased in trade with the Russian Federation (by CZK 27.0 billion), and the trade balance with Norway improved (by CZK 9.6 billion) as deficit turned into a surplus. Trade deficit grew with China (by CZK 49.5 billion), the Netherlands (by CZK 10.4 billion), Japan (by CZK 7.1 billion) and Ireland (by CZK 4.6 billion). The trade balance with the United States deteriorated (by CZK 5.3 billion), as surplus turned into a deficit, and trade surplus with Austria fell by CZK 6.1 billion.

In January–September 2007 exports and imports grew by 15.9% and 14.0% respectively. The trade surplus of CZK 69.5 billion was by CZK 34.8 billion higher year-on-year.
According to the communication of the Directorate General of Customs, data were received from 95.2% 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 arrived) and for companies that failed to report have been imputed. The imputation methods are based on data that the companies supplied in the previous period and data from the tax returns.

Analysis - External trade in the first to third quarters of 2007

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Note
Contact: Karel Král, phone (+420) 274 052 161, e-mail: karel.kral@csu.gov.cz
Data source: Intrastat forms and Single Administrative Documents (SADs)
Related publication: 6001-07 External Trade of the Czech Republic in January–September 2007
http://www.czso.cz/csu/2007edicniplan.nsf/engs/2007-6
The table with data on imports (FOB) of goods is for the Czech National Bank to calculate the balance of payments.
/vzo_ts

The data for individual months of 2006 are final and data for individual months of Q1 and Q2 2007 are updated referring to 28 August 2007 closing date.
The data for September 2007 are preliminary referring to 26 October 2007 closing date and will be updated in December 2007 together with data for individual months from the beginning of the year.