Czech agricultural trade deficit narrows by 38% y/y in Jan-Sep 2012
2012-11-20 10:04:14
Czech agricultural trade deficit narrowed by 38% on the year to CZK 17.3bn (EUR 67.6mn) in the first nine months of 2012 mainly thanks to higher exports of cereals and rapeseed, CTK newswire reported citing data from the Agricultural Association. Exports of agricultural and food products rose by nearly CZK 21bn y/y to CZK 107bn and imports increased by CZK 10.4bn y/y to CZK 124.4bn. Trade in meat and giblets registered the highest gap of CZK 12.2bn, while the highest surplus of CZK 8.6bn in trade in cereals as exports increased by more than CZK 2bn to CZK 10.8bn. 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 and for 2012 it is projected to narrow to CZK 25bn.