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International trade in goods (change of ownership) - April 2024

Product Code: 241018-24

According to preliminary data in current prices, the trade balance of goods in April 2024 ended in a surplus of CZK 33.1 bn, which was by CZK 24.1 bn higher, year−on−year (y−o−y).

In April 2024, the total balance of international trade1) in goods2) was favourably influenced mainly by a higher trade surplus in 'motor vehicles' by CZK 15.7 bn (exports rose by CZK 29.7 bn). The trade improved in 'electrical equipment' by CZK 6.5 bn as a deficit turned into a surplus. The trade deficit in 'crude petroleum a natural gas' narrowed by CZK 4.5 bn.

The total trade balance was affected negatively mainly due to a larger deficit on trade in 'refined petroleum products', 'computer, electronic and optical products' and 'basic metals' by CZK 4.4 bn, CZK 3.5 bn and CZK 2.2 bn, respectively.

In April 2024, the positive trade balance with EU Member States grew by CZK 12.4 bn, yoy. The trade deficit with non-EU countries decreased by CZK 11.2 bn.

Y-o-y exports increased by 19.7% to CZK 416.2 bn and y-o-y imports rose by 13.1% to CZK 383.1 bn. April 2024 had three more working days than April 2023.

“In the fourth month of this year, there was year-on-year growth in exports in almost all commodity groups. International trade in motor vehicles again dominated, both on the export and import side. On the other hand, the highest decrease was recorded in imports of oil and natural gas, where we recorded a year-on-year decline of CZK 4.4 bn,” says Jana Mazánková, Head of the Trade Balance Unit.

Month-on-month, the seasonally adjusted exports and imports decreased by 1.1% and 0.3%, respectively.

From January to April 2024, the trade balance reached a surplus of CZK 117.6 bn representing a y−o−y increase of CZK 68.4 bn. Since the beginning of the year, exports and imports have risen by 4.9% and 0.4%, respectively.


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Methodological note:

From 2020 onwards, data for International trade in goods (change of ownership) are subject to recalculation using an updated method, based on a higher level of detail. See Update of the compilation method – International trade in goods (change of ownership).

In accordance with the methodology of Eurostat, selected data for exports and imports of military equipment and weapons for the current period are for safety reasons included in other goods codes and another territorial structure so that the macroeconomic aggregate of international trade in goods is not influenced.

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Notes:

1) The international trade balance is the difference between exports from the Czech Republic and imports 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.

Data for companies, which are subject to the reporting duty and which failed to report data (non-response), has been imputed according to exports and imports 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 2023 and 2024 is preliminary; data up to and including year 2022 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: Jana Mazánková, Head of Trade Balance Unit, phone number (+420) 274 054 144, e-mail: jana.mazankova@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: https://csu.gov.cz/produkty/vzonu_cr
Next News Release will be published on: July 8, 2024

This press release was not edited for language.

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