Czech Republic Posts Trade Surplus in August

Higher surplus in car and machinery trade

The Czech Republic posted a foreign trade surplus of 3.6 billion koruna (US$206 million ) August as imports and exports fell the fastest in six years, the national statistics office said Oct. 3.

Exports in August shed 8.1%, while imports dropped 10.1%, statisticians said. The total trade volume of 14.1 billion euros was the lowest since August 2006.

"The foreign trade figure is a most convincing piece of evidence showing how the Czech economy is affected by the worsening economic climate in Western Europe," said Patria Finance analyst David Marek. "The latest data from Germany and other eurozone countries are not very optimistic."

Still, the monthly figure reversed an eight-million-euro deficit in August 2007 owing to a higher surplus in car and machinery trade, which offset a growing gap in oil and gas trade.

The surplus for the first eight months of the year reached three billion euros, a growth of 800 million euros against the same period a year ago, statisticians said.

Copyright Agence France-Presse, 2008

TAGS: Trade
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