Positive trade balance of the Czech Republic is still rising

Published: 10.07.2019 Related countries:  Czech Republic Czech Republic

Higher trade surpluses in manufacturing industry and lower trade deficits in extractive industry are contributing to a growth in the Czech trade balance.

In May 2019, the Czech trade balance was 24.4 billion CZK, which was by 17.2 billion CZK more than in May last year.

This surplus was mainly given by a rise in motor vehicles balance by 7.1 billion CZK, which was driven by larger exports. Other means of transport balance improved by 3.5 billion CZK. Computers, electronic and optical devices balance also positively affected trade balance by a rise of 1.9 billion CZK.

On the other hand, trade deficit got lower in refined petroleum products by 2.2 billion CZK, in chemical substances by 1 billion CZK and in crude oil and natural gas by 0.8 billion CZK.

Trade balance with EU28 states was positive at 70.5 billion CZK, while trade balance with other countries was negative at –44.3 billion CZK.

Both exports and imports increased in comparison with the same month last year but with significantly larger rate in exports at 8.1 %, while imports rose only by 2.5 %.

All the figures are based on national concept of international trade, which considers a trade as an exchange between residents and non-residents. On the contrary, cross-border concept comprises trade across borders regardless nationalities of the subjects.

Source: Czech Statistical Office

CzechTrade team Calgary