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Exports and imports maintain double-digit growth

07
Apr '08

According to preliminary data, seasonally adjusted exports decreased by 0.6% and imports by 0.1%, month-on-month. The trend component rose by 2.0% in exports and by 1.6% in imports.

Year-on-year, exports at current prices grew by 11.4% and imports by 11.5%. Due to appreciation of the koruna against the euro and even more against the US dollar, external trade grew faster in euros (both exports and imports +24.0%) and US dollars (exports +39.8%, imports +39.9%) than in korunas.

The trade balance reached a surplus of CZK 14.3 billion, which was by CZK 1.4 billion more year-on-year. February trade balance has been active since 2002 (except February 2003). Trade balance with EU states was active by CZK 43.8 billion and with non-EU states passive by CZK 29.5 billion.

Improvements of the trade balance were mainly achieved due to increases of surplus in 'machinery and transport equipment' (by CZK 5.2 billion) and 'crude materials, inedible, except fuels' (by CZK 0.6 billion). Conversely, balance deteriorated as deficits in 'chemicals and related products' were up by CZK 3.0 billion and CZK 1.5 billion, respectively. Surplus of trade dropped in 'miscellaneous manufactured articles' by CZK 1.9 billion and 'manufactured goods classified chiefly by material' by CZK 0.2 billion.

In exports of 'machinery and transport equipment' the total growth of 13.1% (CZK 13.6 billion) was registered, of which the highest export increases were achieved in 'electricalmachinery, apparatus and appliances' (CZK 2.9 billion). Total imports of 'machinery and transport equipment' were up by 11.1% (CZK 8.4 billion), of which the highest increases were recorded in 'electrical machinery, apparatus and appliances' (both by CZK 2.5 billion).

The growth of 33.1% (CZK 4.7 billion) in imports of 'mineral fuels, lubricants and related materials' was mainly due to higher imports of crude petroleum which grew by 32.4% in value but fell by 6.1% in volume. Imports of natural gas rose by 26.2% in value and by 16.2% in volume.

By group of countries, trade surplus with EU states rose by CZK 7.2 billion and trade deficit with non-EU states increased by CZK 5.8 billion. Trade surplus grew with France (by CZK 2.0 billion), the United Kingdom (by CZK 1.3 billion), Poland (by CZK 1.1 billion), and Slovakia and Italia (both by (CZK 1.0 billion).

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