External trade with EU countries ended up in a surplus of CZK 53.2 billion. In trade with non–EU countries, deficit deepened by CZK 8.0 billion year–on–year. Surplus increased in trade with Germany, France and Slovakia. Moving from deficit to surplus, trade with the US improved. On the other hand, deficit deepened in trade with China and Russia.
February statistics suggest that Czech exports to Canada, Belarus, Argentine, Estonia and Azerbaijan grew at the fastest rate. Three post–Soviet republics are among these five countries, which fact reflects Czech exporters’ interest in these markets. In percentage terms, the highest rate of growth for January and February 2011 can be seen in exports to Azerbaijan, with an index of 241%. Although Azerbaijan accounts for only 0.1% of the Czech Republic’s total exports, that country’s general development, with its enormous GDP growth rates in the past ten years and positive ratings given by rating agencies, indicates a major opportunity.