William Malcolm

Czech Trade Surplus Surges In June

The Czech Republic’s foreign trade surplus grew by CZK 17.6 billion year-on-year to CZK 34.1 billion in June, the highest growth on record for the month. The Czech Statistical Office attributes the trade surplus to the decline of imports.

“Foreign trade in goods in June recorded the historically highest trade surplus in the month under review. Not only the export of goods, which almost returned to last year’s level, contributed to this, but the still lagging import of goods also played a significant role,” said Stanislav Konvička, Head of the CZSO Trade Balance Department.

Overall, exports fell by 0.4% to CZK 301.5 billion. But, auto exports grew by CZK 9 billion. The oil and natural gas deficit shrunk by CZK 8.2 billion. The balance of trade in machinery and base metals improved by CZK 2.3 billion.

The trade balance for computers, electronic and optical devices fell by CZK 7.5 billion, while the balance of trade in electrical equipment fell by CZK 2.4 billion.

Foreign trade with the European Union ended in June with a surplus of CZK 67.1 billion, which was 13.1 billion higher year-on-year. The trade deficit with countries outside the union fell by 4.3 billion to 31.4 billion crowns.

Imports declined by 6.6% to CZK 267.4 billion year-on-year, returning to the same level as at the beginning of the coronavirus pandemic.