Czech foreign trade surplus widens 15% y/y to record-high EUR 1.4bn in Nov 2013, above expectations.

By bne IntelliNews January 6, 2014

Czech foreign trade surplus widened by 15% on the year to a record-high of CZK 38.7bn (EUR 1.4bn) in November 2013, data from the statistics office showed. The reading exceeded market expectations for a surplus of CZK 35bn. The statistics office revised up the foreign trade surplus for October 2013 to CZK 34.1bn from CZK 33.6bn announced earlier.

Exports grew by 7.4% y/y to CZK 297.7bn in November, following a 4% y/y hike in October. Imports moved up by 6.3% y/y to CZK 259bn, after a 4% increase in the previous month. Both exports and imports increased at their second fastest annual rate since the start of 2013. On a seasonally adjusted basis, exports increased by 2.8% m/m, while imports edged up by 0.3% m/m in November.

The Czech Republic’s trade with EU members showed a surplus of CZK 73.5bn in the 11th month of 2013, which was by CZK 5.8bn higher on the year. The trade gap with non-EU countries widened by CZK 0.6bn on the year at CZK 33.7bn.

In the first 11 months of 2013, the Czech foreign trade surplus widened by an annual 14.8% to CZK 344.7bn with exports rising 1.6% y/y, whereas imports staying flat at CZK 2.6tn.

IntelliNews comment: The data is generally positive, as the rising imports suggest recovering consumption and investments, while the growth in exports implies strengthening demand from abroad in line with the ongoing upturn in the eurozone, the country’s main export market. The Czech Republic emerged from its longest recession on record posting a 0.6% quarterly rise in Q2, the first growth in seven quarters, but again contracted by 0.1% q/q in Q3. Foreign demand was the main economic growth driver in 2012 and it will continue to have a positive contribution to the GDP in 2013 and 2014, according to the finance ministry’s latest macroeconomic forecast.

in CZKmn Exports Nov 2013 Imports Nov 2013 Balance Exports y/y change % Imports y/y change %
Total 297,715 258,985 38,730 7.4 6.3
Food and live animals 11,061 12,835 -1,773 6.3 -0.8
Beverages and tobacco 2,077 2,500 -423 15.2 18.9
Crude materials, inedible 7,394 6,630 765 -1.6 -1.6
Mineral fuels, lubricants 9,245 24,868 -15,623 -3.7 -0.9
Animal and vegetable oils 822 602 220 -11.5 23.2
Chemicals and related products 20,462 27,039 -6,577 22.2 0.8
Manufactured goods by material 49,171 44,404 4,767 6.3 5.4
Machinery, transport equipment 162,492 113,782 48,710 7.6 11.2
Manufactured articles 34,371 25,715 8,656 6.1 6.5
Commodities not classified 619 610 9 13.8 -22.6
Source: Stats office          

Related Articles

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

EU asks CEE to comment on Russian gas promises

The European Commission has invited comments from Central & Eastern European states on proposals put forward by Russian gas giant Gazprom to meet competition concerns. Visegrad and the Baltic ... more

Poland struggles in bid to oust Tusk

The Polish government spent March 6 canvassing for support for its alternative candidate for the European Council presidency to compatriot Donald Tusk. However, it met little success, even in its own ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss