International trade in goods (change of ownership) - November 2024
November trade balance ended in a surplus
Publication Date: 07. 01. 2025
Product Code: 241018-24
In November 2024, the total balance of international trade1) in goods2) was favourably influenced in particular by y−o−y higher trade surplus in 'motor vehicles' by CZK 2.2 bn. The trade deficit in 'crude petroleum and natural gas' decreased by the same amount. The trade surplus in 'electrical equipment' grew by CZK 2.0 bn.
The total trade balance was affected negatively mainly by a smaller trade surplus in 'fabricated metal products' by CZK 4.3 bn and in 'machinery and equipment' by CZK 2.8 bn. The trade deficit in 'basic metals' widened by CZK 1.6 bn.
In November 2024, the positive trade balance with EU Member States fell by CZK 3.9 bn, y−o−y. The trade deficit with non-EU countries increased by CZK 0.5 bn.
Y-o-y exports increased by 4.4% to CZK 424.5 bn and y-o-y imports rose by 5.8% to CZK 400.9 bn. November 2024 had the same number of working days as November 2023.
“Imports grew faster than exports in November. For example, imports of fabricated metal products, originating mainly in Germany, Slovakia and China increased by almost 26% year-on-year. We also recorded a year-on-year growth of more than CZK 2 bn in imports of food products, originating mainly in Germany, Poland and Spain,” says Jana Mazánková, Head of the Trade Balance Unit of the Czech Statistical Office.
Month-on-month, the seasonally adjusted exports increased by 0.5% and imports decreased by 0.7%.
From January to November 2024, the trade balance reached a surplus of CZK 219.1 bn representing a y−o−y increase of CZK 101.2 bn. Since the beginning of the year, exports have risen by 4.7% and imports by 2.3%.
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.
Notes
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).
Since March 2022, in accordance with the methodology of Eurostat, selected data for exports and imports of military equipment and weapons 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.
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 2024 is preliminary; data up to and including year 2023 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,
Contact person: Jana Mazánková, Head of Trade Balance Unit, phone number (+420) 274 054 144,
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_ts
Next News Release will be published on: February 6, 2025
This press release was not edited for language.