According to statistics, the month of January is traditionally associated with a positive trade balance. This has been happening in Czech foreign trade in goods since 2010.

“This time, motor vehicle exports were very successful, which in the monitored month grew by almost a quarter year-on-year and slightly exceeded CZK 100 billion,” said Stanislav Konvička, head of the trade balance department of CZSO.

In January, exports increased by 12.1 percent year-on-year to 375.5 billion kroons and imports by 11.8 percent to 366 billion kroons. This January has one more working day than last year. Month-on-month, after seasonal adjustments, exports increased by 0.4 percent and imports by 2.3 percent.

According to statistics, the overall foreign trade balance was positively influenced by the year-on-year motor vehicle trade surplus of six billion kroons. The base metals trade deficit decreased by 2.1 billion kroons, and the positive balance of other means of transport increased by 1.7 billion kroons.

On the other hand, the adverse impact was mainly a larger deficit in trade in computers, electronic and optical devices by 2.5 billion kroons, refined oil products by 1.5 billion kroons, and oil and natural gas trade by 1.3 billion kroons, which is a consequence of higher import quantities. “The shift from assets to liabilities worsened the agricultural product balance by CZK 1.4 billion,” the statisticians added.

The foreign trade balance with EU countries increased by 19.8 billion crowns compared to last year in January. The trade deficit with countries outside the EU deepened by CZK 17.5 billion.