Year−on−year, total balance in the national concept was unfavourably influenced mainly by a y−o−y decrease of surplus in 'motor vehicles' by CZK 5.5 bn (exports down by CZK 3.7 bn) and by a larger deficit in 'basic metals' and 'products of agriculture and hunting' by CZK 1.9 bn and CZK 1.6 bn respectively.
A lower deficit in 'crude petroleum and natural gas' (by CZK 1.9 bn) had a main positive effect on the total trade balance, y−o−y.
In January 2018 the trade balance with the EU28 Member States ended in a surplus of CZK 60.4 bn, and thus it was by CZK 6.4 bn lower, y−o−y. The trade deficit with the non-EU countries widened by CZK 3.1 bn to reach the amount of CZK 46.7 bn.
Compared to December 2017 the seasonally adjusted exports and imports in the national concept rose by 0.4% and 4.2% respectively. The development trend shows increasing exports (+0.6%) and imports (+2.7%).
Compared to the same month of 2017, exports and imports rose by 2.4% (to CZK 292.6 bn) and by 6.2% (to CZK 280.7 bn) respectively.
Information on the cross-border movement of goods
According to preliminary data in current prices of the cross-border concept in January 2018 exports and imports increased by 3.6% and 8.5% respectively. Total exports and imports of goods amounted to a value of CZK 360.1 bn and CZK 328.3 bn, respectively.
According to the Eurostat statistics, in 2017 the Czech Republic shares in the total exports and imports of the European Union were 3.1% and 2.8%, respectively.
Published by the team of CzechTrade foreign office in Chicago