The Czech Republic's foreign trade balance recorded a peak in November 2023, according to the preliminary data released by the Czech Statistical Office (ČSÚ) on Monday, and the country's foreign trade balance deficit amounted to CZK 30.8 billion in November.
Higher exports of automobiles and the closing of the deficit in the oil/gas trade were reportedly effective factors in this outcome. Compared to a year earlier, exports decreased by 2.6 percent to CZK 403.6 billion, while imports dropped by 15.4 percent to CZK 372.8 billion.
The director of the Czech Republic's foreign trade statistics department, Miluše Kavěnová, pointed out that the positive trade balance in November was mainly due to the fact that the decrease in imports was greater than the decrease in exports.
Motor vehicles trade amounted to CZK 15.1 billion, which had a beneficial effect on the trade balance. Also, trade in electrical equipment amounted to CZK 11.4 billion. The cumulated surplus for the period from January to November last year amounted to CZK 120.8 billion, a significant improvement compared to the deficit of CZK 202.4 billion recorded in the same period a year earlier. Since the beginning of 2023, exports in general terms have increased by 1.2 percent, while imports have decreased by 6.4 percent.
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