Czech agricultural trade deficit narrows 27% in Q1 2012
2012-05-30 12:18:08
Czech agricultural foreign trade deficit narrowed by 27% y/y to CZK 5.5bn (EUR 217.3mn) in the first quarter of 2012 mainly thanks to higher exports of cereals, CTK newswire reported citing data from the Agricultural Association. Exports of agricultural and food products rose by 21.5% on the year to CZK 35.1bn and imports increased by 12% to CZK 40.6bn. Trade in meat and giblets registered the highest gap of CZK 3.8bn, by CZK 1bn more than in the same period of 2011 as production of meat decreased while consumption remained unchanged. The Czech Republic has been posting deficits on its agricultural foreign trade balance since 1994 with imports growth outpacing that of exports. In 2011, the country's agricultural foreign trade deficit widened by 2.9% y/y to CZK 34.7bn.