International trade in goods (change of ownership) - December 2023

According to preliminary data in current prices, the trade balance of goods in December 2023 ended in a surplus of CZK 3.5 bn, which was by CZK 5.9 bn better result, year−on−year (y−o−y).

“For 2023, the trade balance showed a surplus of CZK 122.8 bn compared to a deficit of CZK 204.8 bn in the previous year. Y−o−y, exports rose by 0.6% y−o−y, while imports fell by 6.6%,” says Miluše Kavěnová, Director of the International Trade Statistics.

In December 2023, the total balance of international trade¹⁾ in goods²⁾ was favourably influenced mainly by a y−o−y lower deficit in 'crude petroleum and natural gas' by CZK 7.0 bn (due to falling prices on world markets). The balance of trade in 'electrical equipment' improved by CZK 4.4 bn as a deficit turned into a surplus. The trade deficit in 'chemicals and chemical products' declined by CZK 2.8 bn, y−o−y.

The total trade balance was affected negatively mainly due to a lower surplus in 'electricity' trade by CZK 9.2 bn (as a result of falling prices). Further, the trade deficit increased in 'computers, electronic and optical products' by CZK 2.2 bn and the trade deficit in 'rubber and plastics products' fell by CZK 1.2 bn.

In December 2023, the positive trade balance with EU Member States fell by CZK 14.4 bn, y−o−y. The trade deficit with non-EU countries decreased by CZK 20.0 bn.

Y-o-y exports fell by 7.2% to CZK 317.7 bn and y-o-y imports decreased by 8.9% to CZK 314.2 bn. December 2023 had had two fewer working days than December 2022.

“Although total exports and imports continued to decline year-on-year, the trade balance remained positive in December. More significant year-on-year declines were recorded, for example, in exports of computers or machinery and equipment. As in the previous month, imports decreased mainly for electrical equipment and oil and natural gas,” says Jana Mazánková, Head of the Trade Balance Unit.

Month-on-month, the seasonally adjusted exports and imports rose by 1.6% and 4.2%, 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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