Czech foreign trade surplus more than doubles in July 2012, beats expectations.

By bne IntelliNews September 7, 2012
Czech foreign trade surplus widened by 115% y/y to CZK 25.8bn (EUR 1.05n) in July 2012, data from the statistics office showed. The surplus was higher than market expectations of CZK 22.4bn according to a Reuters poll. Exports rose by 10.3% y/y to CZK 242.9bn, while imports advanced at the slower annual rate of 4.2% to CZK 217.1bn. The European Union is the countrys main trading partner as it accounted for 80% of the exports and 65% of the imports in July 2012. The Czech Republics trade with EU countries showed a surplus of CZK 52.7bn, which was by CZK 2.4bn higher on the year. The trade gap with non-EU countries narrowed by CZK 11.4bn y/y to CZK 26.9bn. Foreign trade data adjusted for transactions by non-residents showed a surplus of CZK 5.94bn in the seventh month of 2012, down from a revised CZK 12.1bn surplus a month earlier.
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