International trade in goods (change of ownership) – August 2024

In August 2024, the total balance of international trade¹⁾ in goods²⁾ was favourably influenced in particular by y−o−y higher trade surplus in ‘motor vehicles’ by CZK 16.4 bn (exports grew by CZK 21.4 bn). The trade deficit in ‘computers, electronic and optical apparatus’ narrowed by CZK 7.6 bn and the trade surplus in ‘other transport equipment’ increased by CZK 1.2 bn.

The total trade balance was affected negatively mainly due to trade in ‘electrical equipment’, which deteriorated by CZK 3.7 bn y−o−y (as a surplus turned to a deficit). The surplus on trade in ‘fabricated metal products’ fell by CZK 1.1 bn and the negative balance on trade in ‘basic metals’ widened by CZK 1.0 bn.

In August 2024, the positive trade balance with EU Member States grew by CZK 8.5 bn, y−o−y. The trade deficit with non-EU countries decreased by CZK 12.1 bn.

Y-o-y exports increased by 11.5% to CZK 371.1 bn and y-o-y imports rose by 5.2% to CZK 356.8 bn. August 2024 had one less working day than August 2023.

 “The positive result of the August trade balance was due to a higher year-on-year growth in the value of exports than in imports. In absolute terms, the exports of motor vehicles and their parts increased the most, corresponding to a 25.9% year-on-year increase, followed by computers, electrical and optical equipment, where exports increased by 41.9%,” says Miluše Kavěnová, Director of the International Trade Statistics Department of the Czech Statistical Office.

Month-on-month, the seasonally adjusted exports and imports increased by 9.2% and 4.8%, respectively.

From January to August 2024, the trade balance reached a surplus of CZK 165.9 bn representing a y−o−y increase of CZK 101.5 bn. Since the beginning of the year, exports have risen by 4.6% and imports by 1.2%.

Source: CZSO
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