International trade in goods (change of ownership) - September 2024
September trade balance ended in a surplus
Publication Date: 06. 11. 2024
Product Code: 241018-24
In September 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 6.2 bn. The trade deficit in 'computers, electronic and optical apparatus' and 'crude petroleum and natural gas' narrowed by CZK 4.2 bn and CZK 4.0 bn, respectively.
The total trade balance was affected negatively mainly by a smaller surplus in 'other transport equipment' by CZK 2.5 bn. The trade balance deficit widened in 'basic metals' by CZK 1.7 bn and in 'basic pharmaceutical products' by CZK 1.3 bn.
In September 2024, the positive trade balance with EU Member States grew by CZK 1.4 bn, y−o−y. The trade deficit with non-EU countries decreased by CZK 8.0 bn.
Y-o-y exports increased by 8.1% to CZK 399.8 bn and y-o-y imports rose by 5.6% to CZK 378.5 bn. September 2024 had one more working day than September 2023.
“In September, exports rose by CZK 29.8 bn year−on−year and imports by CZK 19.9 bn. From a territorial perspective, we recorded the highest year−on−year growth in exports of goods to Germany, the United Kingdom and Slovakia. As regards imports, the highest increases were recorded for goods originating in China and Poland, says Jana Mazánková, Head of the Trade Balance Unit.
Month-on-month, the seasonally adjusted exports and imports decreased by 6.1% and 4.6%, respectively.
From January to September 2024, the trade balance reached a surplus of CZK 182.9 bn representing a y−o−y increase of CZK 107.1 bn. Since the beginning of the year, exports have risen by 5.0% and imports by 1.8%.
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.