Czech trade surplus widens 46.2% in Nov 2011.

By bne IntelliNews January 9, 2012
Czech foreign trade surplus pulled back from a record-high in October and widened by 46.2% on the year to CZK 18.4bn (EUR 839mn) in November 2011 as imports speeded up growth, the statistics office said. Exports rose by 9.6% in November, following a 8.6% y/y rise in October. Imports increased by an annual 6.3% y/y, compared to a 3.5% increase in the previous month. The Czech Republics trade with EU countries showed a surplus of CZK 62.4bn, which was by CZK 5.5bn higher on the year. The trade gap with non-EU countries narrowed by CZK 3bn y/y to CZK 44bn. Foreign trade data adjusted for transactions by non-residents showed a surplus of CZK 4.28bn in November, compared to a revised surplus of CZK 12.83bn in October. The countrys trade surplus reached CZK 178.5bn in the first 11 months of 2011, up by 32.1% y/y. Exports increased by 13.4% y/y and imports grew by 11.5% y/y. IntelliNews comment : Czech foreign trade surplus is expected to continue increasing with both exports and imports reaching record-high values. However, exports is expanding at a much slower annual rate than in the first half of the year, a sign that Czech main export market are starting to feel the effects of the economic slowdown.
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