May trade deficit stood at CZK 9.3 bn and was CZK 0.7 bn down on May 2000, again mainly due to raw materials, semi-finished and chemical products (CZK 11.8 bn). Compared with May 2000, current price imports and exports grew 13.2% and 15.3%, respectively. Another reason for the deficit of the foreign trade is a strong domestic demand that is pushing up imports of investment goods. However, this factor is overweight by a very good export performance of the domestic industrial sector. Thus, trade surpluses were achieved in machinery and transport equipment (CZK 2.5 bn) and miscellaneous manufactured articles (CZK 1.8 bn). So far, it seems that the Czech economy successfully resists a slowdown of economic growth in Western Europe.
(David Marek)