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

The total balance of international trade¹⁾ in goods²⁾ was favorably influenced mainly by a y−o−y higher surplus in 'motor vehicles, trailers and semitrailers' by CZK 18.9 bn (export increased by CZK 31.4 bn). The trade deficit in 'crude petroleum and natural gas' narrowed by CZK 10.8 bn due to lower prices on world markets. The trade surplus in 'machinery and equipment' grew by CZK 3.3 bn and the trade deficit in 'basic metals' was smaller by the same amount. The total trade balance was negatively affected mainly by a CZK 6.3 bn decrease in the trade surplus in 'electricity'. The trade balance in 'other transport equipment' and 'electrical equipment' worsened by CZK 2.5 bn and CZK 1.9 bn, respectively, as a surplus turned into a deficit.

In March 2023, the trade balance with EU Member States improved by CZK 18.8 bn. The trade deficit with non-EU countries decreased by CZK 9.0 bn.

Y-o-y exports increased by 7.7% to CZK 416.8 bn and y-o-y imports grew by 0.4% to CZK 400.9 bn. March 2023 had the same number of working days as March 2022.

“In March, y-o-y growth in exports was higher than in imports and the trade balance ended in  positive figures for the third consecutive month. This was due not only to a y-o-y increase of around 37% in exports of motor vehicles and parts, but also to a y-o-y decrease of more than 44% in the value of oil and natural gas imports,” says Miluše Kavěnová, Director of the International Trade Statistics Department.

Month-on-month, the seasonally adjusted exports and imports fell by 0.3% and 0.6%, respectively.

From January to March 2023, the trade surplus reached CZK 39.6 bn, compared with a deficit of CZK 12.0 bn in the same period of the previous year. Since the beginning of the year, y−o−y exports and imports have grown by 9.7% and 4.8%, respectively.

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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:

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 2022 and 2023 is preliminary; data up to and including year 2021 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 sets: https://csu.gov.cz/produkty/vzonu_cr
241014-23 External Trade of the Czech Republic –by CZ-CPA (quarterly)
https://www.czso.cz/current-product/41321
Next News Release will be published on:June 6, 2023