Czech International trade in goods (change of ownership) of the Czech Republic - annual data - 2023

Publication Date: 27. 09. 2024

Product Code: 242008-24

 

International trade in goods (change of ownership)[1] of the Czech Republic in 2023[2]

 

 

The Czech Republic recorded a year-on-year decline in international trade in goods (change of ownership) turnover in 2023, mainly due to lower imports. According to the final data for 2023, exports grew by 0.8% year-on-year to CZK 4 442.4 bn, while imports fell by 6.3% to CZK 4 319.9 bn. Compared to 2022, the sum of the value of exports and imports decreased by 2.9%, i.e. by CZK 257.1 bn. The value of turnover in 2023 reached CZK 8 762.4 bn.

 

The balance of international trade in goods (change of ownership) in goods at current prices ended with a surplus of CZK 122.5 bn compared to a deficit of CZK 204.8 bn in 2022.

Motor vehicles (including parts and accessories) in particular had a favourable impact on the total balance of international trade in goods (change of ownership). In 2023, their trade balance ended with a surplus of CZK 574.6 bn, an improvement of CZK 114.0 bn year-on-year. Exports of these goods from the Czech Republic rose by CZK 186.9 bn to CZK 1 228.8 bn and imports into the Czech Republic rose by CZK 72.9 bn to CZK 654.3 bn.

The total balance of international trade in goods was further affected by year-on-year smaller balance deficits in crude petroleum and natural gas by CZK 149.3 bn, basic metals by CZK 26.9 bn and chemicals and chemical products by CZK 20.7 bn. The trade surplus in machinery and equipment increased by CZK 22.5 bn.

The total balance of international trade in goods was adversely affected mainly by a year-on-year decline in the active balance with electricity by CZK 51.9 bn and with forestry and logging products by CZK 11.1 bn. Furthermore, the balance of computer, electronic and optical products became more passive by CZK 16.4 bn.

The share of trade with EU[3] countries in the total international trade in goods turnover of the Czech Republic in 2023 reached 71.3% (CZK 6 250.2 bn), while trade with non-EU countries accounted for 28.2% (CZK 2 474.1 bn)[4].

The surplus of the balance of international trade in goods with the European Union Member States reached CZK 874.3 bn and was CZK 80.1 bn higher than in 2022. The largest increase in surplus was achieved in trade with Germany by CZK 37.8 bn and France by CZK 10.7 bn. In 2023, the positive balance with Slovakia decreased by CZK 32.1 bn year‑on‑year, while the negative balance with Poland decreased by CZK 34.2 bn.

The deficit in the balance of international trade in goods with non-EU countries decreased by CZK 252.6 bn year-on-year to CZK 717.9 bn, which significantly affected the total value of the Czech Republic's trade balance. In particular, the negative balance with the Russian Federation decreased by CZK 174.3 bn and with China by CZK 53.5 bn. The trade deficit with Norway increased by CZK 40.2 bn.