Czech foreign trade surplus widens by 28.6% in May 2011.

By bne IntelliNews July 8, 2011
The Czech Republics foreign trade surplus widened by 28.4% y/y to CZK 14.4bn (EUR 593mn) in May 2011, the statistics office said. The higher surplus was due to the fact that exports grew faster than imports as foreign demand for machinery and transport equipment increased, while weak domestic demand curbed imports. The May surplus was higher than Aprils of CZK 12.6bn and above market expectations of CZK 11.1bn, according to a poll by Dow Jones Newswires. Exports grew by 18.2% y/y, speeding up from a 14.6% annual rise in April. The imports growth accelerated to 17.5% from 16.4% a month earlier. The Czech Republics trade with EU countries showed a surplus of CZK 56.1bn, which was by 10.9% higher on the year. The trade gap with non-EU countries expanded by 5.4% y/y to CZK 41.7bn. The countrys trade surplus reached CZK 80.5bn in the first five months of 2011, up by 10.9% y/y. Exports increased by 19.4% y/y and imports grew by 20.1% y/y.

Czech foreign trade surplus widens by 28.6% in May 2011.

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