Year-on-year, the result was 21.2 billion crowns better. Increased car exports and a decrease in the value of oil and natural gas imports have helped this. The Czech Statistical Office (ČSÚ) published the opening balance of current prices on its website on Thursday.

“In February, the trade balance continued to show good development thanks to year-on-year growth in motor vehicle exports, despite production halts at several car factories. Lower year-on-year import values ​​for most commodities called fossil fuels also contributed to these positive results,” said Miluše Kavěnová, director of the CZSO Foreign Trade Statistics Department.

In February, year-on-year exports increased by 9.9 percent to 358 billion kroons, and imports increased by 3.3 percent to 343.7 billion kroons. Month-on-month, after seasonal adjustments, exports decreased by 1.5 percent and imports by 2.8 percent.

The motor vehicle trade surplus increased by 17.5 billion kroons compared to last year, while machinery and equipment increased by 2.4 billion kroons. The trade deficit in chemicals and processed products decreased by 2.3 billion kroons, and the trade deficit in oil and natural gas by 2.2 billion kroons. “The adverse impact on the overall balance was mainly due to a larger deficit in trade in computers and electronic and optical devices of 1.6 billion crowns,” the CZSO said. The transition from surplus to deficit worsened the balance of agricultural products by 1.1 billion kroons.

Foreign trade output with European Union countries increased by 22.8 billion crowns year-on-year in February. The trade deficit with countries outside the EU deepened by 1.7 billion kroons.