According to the CSO’s preliminary cross-border statistics, exports and imports increased by 5.2% and 6.0%, respectively, month-on-month, net of the seasonal effect. The trend of the development indicates growth in exports and imports by 3.4% and 2.7%, respectively.
Exports and imports increased by 28.4% (CZK 49.5 billion) and 30.9% (CZK 49.1 billion), respectively, in current prices on a year-on-year basis. The results are affected by the low reference basis of January 2010 (the lowest monthly values of exports and imports in 2010). A faster growth in imports compared with exports continued for the eleventh month. Due to the Czech currency’s stronger euro rate, external trade grew faster (exports by 37.2% and imports by 39.9%) in terms of the euro than in terms of the Czech crown. The Czech currency’s US dollar rate stayed at the same level as in January 2010, and exports and imports converted to US dollars therefore registered the same rates of growth as external trade expressed in Czech crowns.
External trade with EU countries ended up in a surplus of CZK 58.7 billion, up by CZK 9.9 billion y/y. In trade with non-EU countries, deficit deepened by CZK 9.5 billion to CZK 43.0 billion. The positive balance increased in trade with Germany, by CZK 3.1 billion, Austria, CZK 1.9 billion, France, CZK 1.9 billion, and Slovakia, CZK 1.1 billion. On the other hand, there was a deeper deficit in trade with China, by CZK 9.9 billion, and Russia, CZK 1.1 billion.
Looking at the highest increases in exports for January 2011 compared with January 2010, exports to Azerbaijan (year-on-year growth was more than threefold), South Korea and Canada (more than a double) registered the strongest growth. As regards the countries that were the most important for Czech exports in terms of the percentage of exports, in January 2011 they included Germany (32.3%), Slovakia (8.3%) and Poland (6.1%).