Czech foreign trade gap up to CZK 11 billion
Czech Statistical Office (CSU) reported Czech Republic trade deficit soared to CZK 10.8 billion (approx. $413 million) in April from a deficit of CZK 4.2 billion in March.
The increase was well beyond market expectation of CZK 5 billion deficit. The trade deficit reached CZK 11.7 billion in January-April 2004 period.
Both exports and imports expanded in April. Exports increased by 24.7% annually while imports were up by 25.7% annually.
Imports of investment goods continue increasing, indicating a further rise in investment activity in the Czech Republic. April imports were also affected by the changes in customs system.
Czech Republic's trade balance with
China and
Japan showed the biggest increase in April, with deficits rising by CZK 3 billion. The trade deficit with
Russia was up by CZK 1.4 billion, but with US fell by CZK 1.7 billion. CZK 0.8 billion of trade deficit with
Turkey became a trade surplus of CZK 0.3 billion in April.
Analysts expect the foreign trade deficit to reach around CZK 70 billion in 2004. The trade deficit amounted to CZK 69.4 billion in 2003.