External trade - December 2017

According to preliminary data in current prices, in December 2017 the external trade balance in goods ended in a deficit of CZK 2.2 bn, which was by CZK 6.2 bn better result, year-on-year (y−o−y).

The total balance in the national concept¹⁾, was favourably influenced mainly by an increment of surplus in 'motor vehicles' and 'machinery and equipment' by CZK 5.9 bn and CZK 2.5 bn respectively.

A larger deficit of the trade balance in 'basic metals', 'coke and refined petroleum products' and 'products of agriculture and hunting' by CZK 1.6 bn, CZK 1.0 bn and CZK 0.9 bn, respectively, affected primarily the total trade balance in a negative manner.

In December 2017 the trade balance with the EU28 Member States ended in a surplus of CZK 35.9 bn, and thus it was by CZK 5.2 bn higher, y−o−y. The trade deficit with the non-EU countries shrank by CZK 0.8 bn to reach the amount of CZK 36.4 bn.

Compared to November 2017 the seasonally adjusted exports and imports in the national concept rose by 2.2% and 1.3% respectively. The development trend shows increasing exports and (+0.4%) and stagnating imports.

Compared to the same month of 2016, exports and imports fell by 0.1% (to CZK 247.2 bn) and by 2.5% (to CZK 249.4 bn) respectively.

In 2017, the trade balance surplus in the national concept reached CZK 152.6 bn which represented a decrease by CZK 11.1 bn, y−o−y. Compared to the previous year, exports and imports went up by 5.6% and 6.3% respectively.

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 in current prices of the cross-border concept²⁾ in December 2017 exports increased by 1.1% while imports fell by 0.1%. Total exports and imports of goods amounted to a value of CZK 309.4 bn and CZK 287.0 bn, respectively.

In 2017 compared to 2016, exports and imports in the cross-border concept grew by 5.7% and by 7.9% respectively. The external trade turnover went up by CZK 503.4 bn to CZK 7 972.1 bn, y−o−y.

According to the Eurostat statistics, in November 2017 the Czech Republic shares in the total exports and imports of the European Union were 3.3% and 3.1%, 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, Director of Macroeconomic Statistics Section, phone (+420) 274 054 253, e-mail: jaroslav.sixta@czso.cz
Contact person: Karel Král, Director of External Trade Statistics Department, 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
w-241014-17 External Trade of the Czech Republic –by CZ-CPA in the national concept (quarterly)
https://www.czso.cz/current-product/41321
External Trade Database is available on: http://apl.czso.cz/pll/stazo/STAZO.STAZO?jazyk=EN
Next News Release will be published on: 9 March 2018

Attachments

⇩ avzo020518.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)