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Automobiles, oil and gas exacerbated the balance

Automobiles, oil and gas exacerbated the balance

According to preliminary CZSO data, the foreign trade balance of goods at current prices ended in June with a deficit of CZK 6.9 billion, which was worse by CZK 40.9 billion year on year.

“We are recording a negative monthly trade balance for the first time this year, which has halted the record sequence of 12 consecutive excess balances,” Head of Trade Balance Department CZSO . said Stanislav Konvichka.

The general balance was negatively affected mainly by the decrease in the surplus in the auto trade by CZK 10.1 billion year on year. The trade balance deficit in oil and natural gas widened (by CZK 8.1 billion), base metals (CZK 6.9 billion) and chemicals and chemical products (CZK 3.6 billion).

On the other hand, the overall balance was favorably affected by a higher balance surplus in waste-related products (by CZK 2.1 billion) and in wood and wood products (by CZK 1.6 billion).

Exports increased by 13.2 percent year on year to CZK 343.9 billion and imports by 30.1 percent to CZK 350.8 billion.

In the January-June period of this year, the trade balance surplus amounted to CZK 83.2 billion, representing an annual increase of CZK 36.9 billion. Exports are up 23.8% year-on-year since the beginning of the year and imports are up 22.2%.

The balance of foreign trade with the 27 European Union countries ended in June with a surplus of CZK 51.4 billion, down from CZK 16.1 billion year on year. The largest decrease in assets was recorded in trade with Germany (by 8.5 billion CZK) and the Netherlands (by 3.5 billion CZK). The trade deficit with Poland widened by 2.5 billion CZK.

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The share of exports to eurozone countries in the total exports of the Czech Republic was 65% in June, while the share of imports from eurozone countries was 48.2%. On an annual basis, exports to the Eurozone increased by 12.9% to CZK 223.5 billion, while imports from the Eurozone increased by 27.4% to CZK 169.2 billion. In June, the koruna strengthened against the euro by an average of 4.8% on an annual basis.

The foreign trade deficit with the 27 non-EU countries increased by CZK 24.5 billion year on year to CZK 56.4 billion. The trade balance with the Russian Federation (by 7.3 billion CZK) and Turkey (by 2.7 billion CZK) has deteriorated due to the shift from assets to liabilities. The trade deficit with China widened by 4.5 billion CZK.

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