According to preliminary figures released by the Czech Statistical Office, the Czech Republic reached a record breaking trade surplus of CZK 25.5 billion in October 2011.

An extra CZK 22.5 billion of goods were exported, up by 9.6% as compared with October 2010, with export growth running around twice as fast as the rise in imports, the office said. The surplus was CZK 11.8 billion higher than that recorded in October 2010.

Strong foreign sales of cars and other transport equipment was the main factor pushing up the Czech trade surplus with the surplus from sales in the sector up by CZK 14.5 billion compared with a year earlier. A deficit in other manufactured goods also turned around into a surplus.

On the other hand, the traditional deficit in imports of fuel and processed oil products deepened by CZK 3.4 billion in October 2011 as compared with a year earlier.

So far, in the first 10 months of 2011, the Czech Republic has built up a trade surplus of CZK 159.8 billion, a CZK 48.5 billion improvement on the same period in 2010. Around half of the overall trade surplus stems from sales of machinery and transport equipment, where the surplus so far this year has improved by CZK 88.6 billion.

The Czech Republic is heavily reliant on exports, traditionally running a high trade surplus with other members of the 27 strong European Union but a deficit with non EU countries, such as Russia, China and Japan.

(Sourced from www.ceskapozice.cz)