Czech foreign trade surplus grows to Kc191.4bn in 2011

In December 2011 alone, foreign trade showed a Kc10.5bn surplus, an increase of Kc10.4bn compared with December 2010.

Exports grew by 13.2 percent and imports rose by 10.9 percent last year in a year-on-year comparison. Foreign trade turnover increased by Kc596.5bn to Kc5,5408bn.

"The balance improved mainly in machinery and transport equipment which recorded a Kc105.3bn growth in surplus year-on-year. On the contrary, deficit deepened in mineral fuels, lubricants and related materials and chemicals and related products by Kc38.2bn and Kc18.8bn, respectively," the CSU said.

Foreign trade with European Union countries showed a Kc670.4bn surplus last year, a growth of Kc71.9bn year-on-year. The deficit in trade with countries outside the EU rose by Kc1.7bn to Kc478.9bn.

The surplus increased in trade with Germany, France and Slovakia. Trade balance with the USA showed a surplus after a previous deficit. The deficit in trade with Russia dropped.

In contrast, the deficit in trade with China and Azerbaijan increased.

The foreign trade surplus in December was the highest December surplus since 2009, until when it had been always negative.

In December alone, exports in current prices rose by 10.1 percent and imports grew by 5.1 percent year-on-year.

"The exports growth rate has been surpassing the imports growth rate for the fourth successive month. Due to depreciation of the crown against the both main currencies, external trade grew slower in euros and in dollars than external trade expressed in crowns," the CSU said.

According to preliminary data of cross-border statistics, seasonally adjusted exports in December rose by 2.9 percent and imports by 2 percent compared with November.

The trend of the development shows increasing exports (+2.0 percent) and imports (+1.5 percent), statisticians said.

Author: ČTK
www.ctk.cz