The balance of trade returned to positive territory in September after its holiday season deficits. The surplus reached CZK 7.5bn. Exports are reflecting the favorable conditions on the Western European and Central European markets. Imports show signs of an acceleration of domestic demand in the form of increases to investment and increases in consumer purchasing. According to our analysis, the negative impact of exchange rates has decreased. The full year’s surplus in the balance of trade is heading towards CZK 45bn. This would be a slightly more positive result for foreign trade compared with average expectations in the marketplace and it could support attempts by the Czech crown to break out of its historic maximum exchange values.