Czech trade surplus rises in September as imports fell faster than exports

Czech Republic posted a bigger foreign trade surplus in September compared to a year ago, as imports fell faster than exports, data from the Czech Statistical Office showed on Tuesday. Czech trade surplus rose to CZK 21.0 billion in September beating expectations for a surplus of CZK 20.7 billion.

The trade surplus in September was much bigger when compared to CZK 15.9 billion in the corresponding month last year and also the CZK 10.8 billion recorded in the month of August.

Details of the report showed that the boost to surplus was mainly from falling imports, the rate if which was much higher than the fall in exports. Data showed exports fell 1.2 percent y/y in September and imports dropped at a faster rate of 3.1 percent. On a monthly basis, seasonally adjusted exports and imports fell by 5.8 percent and 6.0 percent, respectively in September.

The trade balance with EU28 Member States ended in a surplus of CZK 50.6 billion, which was a y/y decrease by CZK 5.1 billion. Deficit of trade with non-EU countries shrank by CZK 10.0 billion to amount to CZK 28.2 billion.