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

Trade surplus for 2024 increased year-on-year

Publication Date: 06. 02. 2025

Product Code: 241018-24

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According to preliminary data in current prices, the trade balance of goods in December 2024 ended in a surplus of CZK 6.8 bn, which was CZK 2.2 bn higher, year−on−year (y−o−y).

“For 2024, the trade balance showed a surplus of CZK 223.2 bn which was by CZK 100.7 higher y-o-y. Since the beginning of 2024, exports and imports rose by 4.9% and 2.7%, respectively,” says Miluše Kavěnová, Director of the International Trade Statistics.

In December 2024, the total balance of international trade1) in goods2) was favourably influenced in particular by y−o−y lower trade deficit in 'crude petroleum and natural gas' by CZK 4.3 bn. The trade surplus increased in 'machinery and equipment' and 'electricity' by CZK 4.0 bn and by CZK 3.0 bn, respectively.

In December 2024, the total trade balance was affected negatively mainly due to trade in 'fabricated metal products' which y−o−y deteriorated by CZK 7.9 bn as a surplus turned into a deficit. The trade deficit deepened in 'computers and electronic and optical equipment' and 'basic metals' by CZK 2.4 bn and CZK 1.4 bn, respectively.

In December 2024, the positive trade balance with EU Member States fell by CZK 4.0 bn, y−o−y. The trade deficit with non-EU countries decreased by CZK 6.1 bn.

Y-o-y exports increased by 9.1% to CZK 339.7 bn and y-o-y imports rose by 8.5% to CZK 332.9 bn. December 2024 had the same number of working days as December 2023.

“In December, exports of goods increased by CZK 28.3 bn y-o-y. The largest contributors to this result were exports of computers and electronic and optical equipment, which increased by CZK 7.4 bn y-o-y. The same group of products had the biggest impact also on the y-o-y increase in imports,” says Jana Mazánková, Head of the Trade Balance Unit of the Czech Statistical Office.

Month-on-month, the seasonally adjusted exports and imports increased by 3.3%.

 

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.