Czech foreign trade surplus narrows less than expected in Aug 2012.

By bne IntelliNews October 9, 2012
Czech foreign trade surplus narrowed to CZK 16.9bn (EUR 679mn) in August 2012 from a revised CZK 24.33bn in July, data from the statistics office showed. The surplus was higher than market expectations of CZK 12.7bn according to a Dow Jones Newswires poll. The surplus was significantly higher than the CZK 1.3bn registered in August 2011. Exports rose by 7.9% y/y to CZK 237.5bn in August 2012, while imports advanced at the slower annual rate of 0.8% to CZK 220.6bn. The European Union is the countrys main trading partner as it accounted for 80% of the exports and 63% of the imports in August 2012. The Czech Republics trade with EU countries showed a surplus of CZK 49.4bn, which was by CZK 2.3bn higher on the year. The trade gap with non-EU countries narrowed by CZK 13.3bn y/y to CZK 32.5bn. Foreign trade data adjusted for transactions by non-residents showed a surplus of CZK 2.1bn in the eighth month of 2012, down from a revised CZK 3.6bn surplus a month earlier. In January-August 2012, the countrys foreign trade surplus widened by CZK 95.9bn on the year to CZK 206.9bn as exports rose by 8.9% y/y and imports advanced by 4% y/y.

Czech foreign trade surplus narrows less than expected in Aug 2012.

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