In December 2005 the trade balance showed a deficit of CZK 3.9bn, but its foreign trade showed a surplus of CZK 41.9bn in 2005. For the first time in its history foreign trade of the Czech Republic ended in black. The surplus would be even higher if the trend in foreign trade prices was more positive. In December 2005 exports rose by 7.8% y/y, imports grew by 3.4%. At the end of the year there is usually a decrease in turnover of both imports and exports in comparison with previous months. In December 2005 exports decreased by CZK 22bn, imports by CZK 26bn compared with November last year. The key seasonal factor in December is usually lower volume of industrial production which is linked to Xmas period and holidays. On the import side of trade balance rising prices of oil and natural gas were a specific factor for the prices in December last year due to which deficit in this part grew to CZK 15.7bn from CZK 11.1bn in December 2004. Point of direction was mainly given by rising import of machinery and vehicles.