According to him, exports increased by 3.9 percent year on year to CZK 388.1 billion and imports by 12.7 percent to CZK 401.9 billion. In a month-on-month comparison, seasonally adjusted exports were higher by 0.3 percent and imports by two percent.
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“The high value of energy commodity imports, which we have been observing continuously for more than a year, had a high share in the negative trade balance result. The year-on-year decline in exports of motor vehicles and their parts was no less significant, and its value was the highest in March last year, “said Miluše Kavěnová, director of the foreign trade statistics department, about the Czech Republic’s March foreign trade results.
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In the trade in oil and natural gas, statistics recorded a year-on-year deficit of 15.9 billion, due to the increase in world markets. In addition, the surplus in car trade fell by CZK 10.3 billion and the deficit in trade in basic metals widened by CZK 7.1 billion.
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On the contrary, trade in electricity and basic pharmaceutical products had a positive effect on the trade balance. Trade in electricity showed a year-on-year surplus of CZK 8.4 billion and trade in pharmaceutical products a deficit of CZK 3.7 billion.
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The statisticians added that the balance of foreign trade with the countries of the European Union deteriorated by CZK 1 billion year-on-year in March, and the trade deficit with countries outside the Union widened by CZK 29.2 billion.
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