Czech international trade surplus increased interannually by 4.1 billion CZK to 21.8 billion CZK, based on March 2019 data. The balance was improved by export of motorised as well as other transportation vehicles such as ships, locomotives, airplanes or bicycles. In contrast, trade with computers, electronic devices, oil and natural gas had a negative impact on the overall balance of trade of the Czech Republic. Calculations are based on data provided by the Czech Statistical Office.
Czech exports grew by 5.4 percent interannually to the value of 330 billion CZK, while imports increased by 4.3 percent to 308.2 billion CZK.
Positive balance of trade with motorised vehicles improved thanks to more robust exports by 6.7 billion CZK to 43.7 billion CZK. Trade balance with other transportation vehicles grew by 1.4 billion CZK. Conversely, trade with computers, electronic and optical devices shrunk interannually by 3 billion CZK to the final value of 2.2 billion CZK. Deficit in trade with oil and natural gas deepened by 1.6 billion CZK to nearly 11 billion CZK.
Trade surplus between the Czech Republic and other EU member states increased by 10.7 billion CZK compared to March last year to 70.5 billion CZK. Trade deficit with non-EU countries has grown more profound by 6.2 billion CZK to a total of 46.5 billion CZK.
Raiffeisenbank analytic Eliška Jelínková warned, however, that it is unlikely that last year’s unusually high exports will be repeated this calendar year. Jelínková expects lower imports due to slow down in the Czech Republic’s most prominent trade partners’ economies such as Germany. “On the other hand, ad hoc factors like pre-stocking of British market preceding Brexit might have positive effect on Czech export,” added the analytic.
Source: Czech Statistical Office
CzechTrade team Calgary