External trade - August 2017

According to preliminary data, in August 2017 the external trade balance in goods ended in a surplus of CZK 5.9 bn, which was by CZK 1.4 bn lower, year-on-year (y−o−y).

The total balance in the national concept¹⁾, was unfavourably influenced mainly by a larger deficit of balance in 'crude petroleum and natural gas' and 'basic metals' by CZK 3.4 bn and CZK 2.4 bn, respectively, y−o−y. Surplus of balance in 'motor vehicles, trailers and semitrailers' went down by CZK 1.1 bn due to higher imports, y−o−y.

A decrease in deficit in 'computer, electronic and optical products' by 3.0 bn brought the main positive effect on the total trade balance and deficit in 'coke and refined petroleum products' shrank by CZK 2.4 bn.

In August 2017 the trade balance with the EU28 Member States ended in a surplus of CZK 45.9 bn, and thus it was by CZK 2.0 bn higher, y-o-y. The trade deficit with the non-EU countries widened by CZK 3.8 bn to reach the amount of CZK 38.8 bn.

Compared to July 2017 the seasonally adjusted exports and imports in the national concept rose by 12.7% and 4.5% respectively. The development trend shows decreasing exports (−0.1%) and increasing imports (+1.1%).

Compared to the same month of 2016, exports and imports rose by 4.0% (to CZK 273.1 bn) and by 4.7% (to CZK 267.2 bn), respectively.

In the period from January to August 2017 the trade balance surplus in the national concept reached CZK 120.1 bn which represented a decrease by CZK 9.5 bn, y−o−y. From the beginning of the year exports and imports went up by 6.4% and 7.3%, respectively, y−o−y.

Detailed information on external trade in the national concept:

https://www.czso.cz/csu/czso/external_trade_in_goods_according_to_the_change_of_ownership_-national_concept-.

Information on the cross-border movement of goods

According to preliminary data of the cross-border concept²⁾ in August 2017 exports and imports in current prices increased by 4.8% and 6.5%, y-o-y, respectively. Total exports and imports of goods amounted to a value of CZK 326.0 bn and CZK 297.8 bn, respectively.

According to the Eurostat statistics, in July 2017 the Czech Republic shares in the total exports and imports of the European Union were 2.7% and 2.6%, respectively.

Detailed information on external trade in the cross-border concept:

https://www.czso.cz/csu/czso/external_trade_in_goods_according_to_the_movement_-cross_border_concept-.

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Notes:
¹⁾ The national concept of external trade reflects export and import performance of the Czech economy, i.e. the external trade balance of the Czech Republic as well. It measures real trade in goods carried out between Czech and foreign entities, i.e. a change of ownership between residents and non-residents.
²⁾ The cross-border concept of external trade reflects only physical movements of goods across the border regardless of whether the trade between Czech and foreign entities occurs. These data are internationally comparable and can be used as indicators of development in the value of trade.

Data for companies, that failed to report data (non-response), have been imputed according to dispatches and receptions 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 2016 are final and data for 2017 are preliminary.

Responsible head at the CZSO: Jaroslav Sixta
phone (+420) 274 054 253
e-mail: jaroslav.sixta@czso.cz
Contact person: Karel Král
phone (+420) 274 052 161
e-mail: karel.kral@czso.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: w-241013-17 External Trade of the Czech Republic –detailed breakdown (monthly): https://www.czso.cz/current-product/41320
External Trade Database is available on: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release will be published on: 3 November 2017

Attachments

⇩ avzo100617.docx
Annexes:
⇩ Chart 1 Balance of external trade in goods in the national concept (total trade balance, trade balances with the EU Member States and non-EU countries)