Foreign trade was a record last year. Cheap oil and a weak koruna helped

The Czech Republic’s foreign trade surplus reached a new all-time high last year thanks to exports and cheap oil. In the so-called national concept, the surplus of the balance increased to 157.1 billion crowns, which is a mezzanine of 50.5 billion crowns incl.

Compared to the previous year, imports of domestic companies increased by 12.7 percent and imports by 11.4 percent. In December alone, the trade balance ended with a deficit of three billion crowns, which was 7.2 billion better in the interim. He announced it in ptek esk statistick ad.

Foreign orders, a weak koruna and cheap oil are the main reasons for such a great result, said Raiffeisenbank chief economist Helena Horsk. According to her, the sanctions against Russia are more clearly reflected in a decrease in Russia’s share of total Czech imports below three percent. On the contrary, in addition to the established markets in western Europe, exports are gaining ground in the German and Slovak markets.

At the turn of the year, according to SOB economist Petr Dufek, the positive effect of cheap oil in the form of a decline in the koruna of the value of imported oil and oil products began to manifest itself in me.

The Czech Republic will then pay for these raw materials and these disputes will gradually begin to spread in the economy. They will mean several tens of billions that companies and households will not have to pay for fuel and will be able to use differently, Dufek added.

The overall balance in December was favorably affected mainly by the year-on-year reduction of the deficit in the balance of mineral fuels by CZK 7.6 billion. An unfavorable development was evident in the balance of trade in chemical products, where the mesiron deficit widened by 1.4 billion. The surplus of trade in machinery and transport equipment remained unchanged compared to December 2013.

Analyst: The record is likely to fall again this year

Foreign trade with the EU countries ended with a surplus of 32.1 billion crowns, and was a mezzanine by 4.7 billion crowns. The trade deficit with non-EU countries changed by three billion to 33.7 billion crowns. In December, imports in the national concept increased by ten percent to 235.9 billion crowns and imports by 6.3 percent to 238.9 billion crowns.

Due to the positive result of new orders in industry and the current price of oil, it is very likely that this year’s surplus of foreign trade will exceed a new record – this time 200 billion crowns, Dufek added.