International trade in goods (change of ownership) - April 2021

According to preliminary data in current prices, the trade balance of goods in April 2021 ended in a surplus of CZK 19.3 bn, which was by CZK 43.6 bn better result, year−on−year (y−o−y).

The total balance of international trade¹⁾ in goods²⁾ was favourably influenced mainly by a y−o−y increase of the trade surplus in 'motor vehicles, trailers and semitrailers' by CZK 44.4 bn, mainly due to a growth of their exports by CZK 79.8 bn. The trade balance improved in 'computer, electronic and optical products' and 'textiles' by CZK 4.8 bn and CZK 3.0 bn, respectively, as a deficit turned into a surplus.

The total balance was negatively affected mainly by a larger trade deficit in 'basic metals' by CZK 5.6 bn, 'crude petroleum and natural gas' by CZK 4.8 bn (due to rising world market prices and bigger imported quantity) and 'chemicals and chemical products' by CZK 4.2 bn.

Y−o−y, exports increased by 78.3% to CZK 348.2 bn and imports grew by 49.8% to CZK 328.8 bn. The results were influenced by a low comparative basis of April 2020 when the Covid-19 restrictive measures were effective. April 2021 had the same number of the working days as April 2020.

In the period from January to April 2021, the trade balance surplus reached CZK 83.1 bn, which represented an increase by CZK 70.2 bn, y−o−y. From the beginning of the year, exports and imports grew by 22.9% and 16.6%, respectively, y−o−y.

Month-on-month, the seasonally adjusted exports and imports rose by 8.1% and 5.3%, respectively. The trend shows increasing exports (+5.3%) and imports (+4.8%).

In April 2021, the trade balance with the EU27³⁾ Member States ended in a surplus of CZK 68.8 bn, which was CZK 42.3 bn higher, y−o−y. The highest y−o−y increases of surplus were recorded in trade with Germany (by CZK 14.0 bn), France (by CZK 6.9 bn) and Slovakia (by CZK 5.2 bn).

In April 2021, exports to Eurozone countries constituted 65.4% of all Czech exports; imports from Eurozone countries to the Czech Republic constituted 49.2% of all Czech imports. Y−o−y, exports to the Eurozone went up by 79.4% (CZK +100.8 bn) to CZK 227.8 bn; imports from the Eurozone increased by 61.4% (CZK +61.1 bn) and reached CZK 161.9 bn. In April 2021, the Czech crown strengthened against the Euro on average by 5.2%, y−o−y.

The trade deficit with non−EU27 countries decreased by CZK 2.1 bn to reach an amount of CZK 47.5 bn. The trade surplus rose mainly with the United Kingdom by CZK 4.7 bn. On the other hand, the trade deficit increased with Japan by CZK 2.8 bn and the trade balance deteriorated with Kazakhstan by CZK 2.0 bn as a surplus turned into a deficit.

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Methodological note:

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://www.czso.cz/csu/czso/changes-in-international-trade-statistics

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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 has not been a member of the European Union.

Data for companies, which are subject to the reporting duty and which failed to report data (non-response), has 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 2020 and 2021 is preliminary; data up to and including year 2019 is final. 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 is published always in September of the following year.

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 set: https://csu.gov.cz/produkty/vzonu_cr
Next News Release will be published on: July 7, 2021