The Czech Republic experienced a decline in its foreign trade surplus in November compared to the previous year, as reported by the Czech Statistical Office on Tuesday. This reduction was attributed to imports growing at a faster pace than exports.
Specifically, the trade surplus fell to CZK 23.6 billion in November, down from CZK 27.8 billion in the same month the previous year. To provide broader context, in October, the surplus stood at CZK 13.0 billion.
Analyzing performance over the year, exports grew by 4.4% in November, an increase from the 3.2% growth recorded in October. Imports, too, saw an accelerated growth rate, rising by 5.8% compared to 3.6% in the preceding month.
On a month-to-month comparison, seasonally adjusted figures indicated that exports increased by 0.5%, whereas imports experienced a 0.7% decline.
The material has been provided by InstaForex Company - www.instaforex.com
Specifically, the trade surplus fell to CZK 23.6 billion in November, down from CZK 27.8 billion in the same month the previous year. To provide broader context, in October, the surplus stood at CZK 13.0 billion.
Analyzing performance over the year, exports grew by 4.4% in November, an increase from the 3.2% growth recorded in October. Imports, too, saw an accelerated growth rate, rising by 5.8% compared to 3.6% in the preceding month.
On a month-to-month comparison, seasonally adjusted figures indicated that exports increased by 0.5%, whereas imports experienced a 0.7% decline.
The material has been provided by InstaForex Company - www.instaforex.com