Better-than-expected trade deficit indicates a high GDP growth in the Q4/2001

The Czech trade balance scored a lower-than-expected deficit of CZK 6.5bn in November. While imports were almost flat (0.9% y-to-y), exports managed to grow by 5% y-to-y. Growth was concentrated in the automobile sector (+8% y-to-y) and in the telecommunication and computer devices - a clear consequence of the foreign-led investment surge in these sectors in recent years. It is now almost certain that exports will grow faster this year (by 14%) than imports (12%), lowering the trade deficit in the comparison to the 2000's CZK 121bn. Especially the recent results are excellent and indicate a high GDP figure for the Q4/2001.

(Ondrej Schneider)