Foreign trade in November reached a positive balance of CZK 1.7bn. This moderate surplus is in line with our expectations; especially positive is the resurgence of the rising trend in exports. In comparison with November 2004, exports rose by 7.8% and imports by only 7.0%. The key factor is the continuation of car industry growth, where the introduction of new production lines begins to materialize. At the same time, machinery and transport vehicle imports grew, which could mean a revival of investment activity. For the whole of last year, we expect a surplus of CZK 38bn and this year it could rise to CZK 52bn, which should be helped by economic growth in Western Europe.