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September 6, 2018 12:00 am | FILED UNDER: business

Foreign Trade Deficit Reaches Kc4.8 Billion

By ČTK

Prague, Sept 6 (CTK) – Czech foreign trade ended in a Kc4.8bn deficit in July, Kc2.9bn higher year on year, and trade in oil and natural gas had a negative impact on the result, the Czech Statistical Office (CSU) said in its preliminary results today.

 

The influence of trade in computers and electronics was positive.

 

This is the first deficit this year but in the previous two years, foreign trade ended in a gap in July as well.

 

Exports increased by 11.1 percent to Kc268bn but this is the lowest monthly figure this year. Czech exports did the best in June, when companies exported goods for Kc319bn.

 

Imports grew by 12.2 percent to Kc273bn, the second lowest figure this year after February when imports reached Kc265bn.

 

Deficit in trade in crude petroleum and natural gas increased by Kc2.9bn. Deficit in trade in chemicals and chemical products and in refined petroleum products deepened as well.

 

Trade surplus in motor vehicles, trailers and semitrailers went down by Kc1.3bn and the balance of other transport vehicles got worse by the same amount as a surplus turned into a deficit.

 

Balance in computer, electronic and optical products improved by Kc2.2bn and brought the main positive effect on the total trade result.

 

Trade with EU28 member states ended in a surplus of Kc44.1bn, Kc5.1bn higher yr/yr. Trade deficit with non-EU countries increased by Kc7.9bn to Kc47.6bn.

 

In the period from January to July 2018, trade surplus reached Kc100.9bn, which represented a yr/yr decrease by Kc22.2bn. Since the beginning of the year, exports and imports increased by 1.6 percent and 2.9 percent, respectively.

 

The CSU also carried out the regular annual update. The final 2017 data say that Czech foreign trade ended in a Kc163.5bn surplus last year, roughly the same as in record year 2016 when there was a Kc163.7bn surplus.

 

Exports grew by 6.5 percent to Kc3,500bn and imports by 6.8 percent to Kc3,350bn last year, both figures are record.

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