Czech trade surplus widens to record-high in Oct 2011 on strong exports growth.

By bne IntelliNews December 8, 2011
Czech foreign trade surplus in October 2011 widened by 86.3% on the year to a record high of CZK 25.5bn (EUR 839mn), as exports grew two times faster than imports, the statistics office said. The countrys trade surplus in September was revised up to CZK 21.58bn. Exports rose by 9.6% y/y in October, following a 7.8% y/y rise in September. Imports increased by an annual 4.9%, slightly faster than the 3.5% increase in the previous month. The Czech Republics trade with EU countries showed a surplus of CZK 56.9bn, which was by CZK 1.6bn lower on the year. The trade gap with non-EU countries narrowed by CZK 13.4bn y/y to CZK 31.4bn. Foreign trade data adjusted for transactions by non-residents showed a surplus of CZK 12.1bn in October, compared to a revised surplus of CZK 9.34bn in September. The countrys trade surplus reached CZK 159.8bn in the first nine months of 2011, up by 30.4% y/y. Exports increased by 14.4% y/y and imports grew by 12.3% y/y. IntelliNews comment : Czech foreign trade surplus is expected to further increase in the months to come but the growth will be mainly due to decelerating pace in imports' increase. Exports is also 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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