The Czech external trade balance in goods ended in a surplus of 6.9 billion
crowns in May, down 8.2 billion crowns in annual terms, according to
preliminary data published by the Czech Statistical Office on Monday.
Year−on−year, the total balance was unfavourably influenced mainly by a decrease of surplus in 'motor vehicles' and a larger deficit in 'coke and refined petroleum products', 'other transport equipment' and 'chemicals and chemical products'. A lower deficit in 'computer, electronic and optical products' had the main positive effect on the total trade balance.
From January to May, the trade balance surplus reached 80.9 billion crowns, a decrease of 13.2 billion crowns in annual terms. From the start of 2018, exports decreased by 2.6% year-on-year and imports increased by 0.6%.
A co-author of the Czech Insolvency Act of 2006 has warned that a proposed amendment to the law would “unintentionally” give debt relief to hundreds of thousands of people. Tomáš Richter, a renowned expert on both Czech and European insolvency law, said in an interview that lax rules set out in the current amendment could potentially mean adding another 600,000-700,000 to the list of people qualifying for debt relief.
Finnish Transtech Oy, a subsidiary of the Czech company Škoda
Transportation, will deliver ten Artic trams to the city of Helsinki. The
price of the contract amounts to 750 million crowns.
There are currently 48 trams of the same type operating in the Finnish capital. As of 2021, they will also operate on a newly built track in the city of Tampere. The Plzeň-based transport company Škoda Transportation acquired a controlling stake in Finland’s sole manufacturer of rail vehicles abd trams in August 2015.
The trade surplus widened in April compared with a year earlier. It climbed
to 15.8 billion crowns, 3.8 billion more than in the same period in 2017.
The main factors fuelling the surplus were car, machinery, and electrical equipment exports. The main dents in the surplus came from increased imports of chemicals and coke.
The Czech trade surplus so far this year stands at 73.6 billion crowns. The statistical office said the overall trend is for decreasing exports and stagnating imports.
The Czech retail sales boom speeded up in April with a 5.6 percent increase
on spending levels compared with a year earlier. March sales rose at the
rate of 3.9 percent.
Sales rose fastest in non-food items, food sales were almost unchanged. And the boom in sales via the Internet and via mail order companies continued with a 20.3 percent annual increase according to the Czech Statistical Office.
The company R2G has made what appears to be a record acquisition for a
Czech investor in the United States, iHned.cz reported. R2G has bought
First Quality Nonwovens from the group First Quality Enterprises, which has
factories in the US and China and supplies fabrics for hygiene products, at
a cost of an estimated USD 500,000, the equivalent of almost CZK 11
R2G plans to merge First Quality Nonwovens with the Czech-based Pegas Nonwovens, which it acquired recently, to create PFNonwovens, iHned.cz reported.
Government ministers have stopped taking part in international trips with
Czech entrepreneurs and this could cost the latter in terms of deals, a
number of business chambers said in a statement to the Czech News Agency on
A spokesperson for the Chamber of Commerce, Miroslav Diro, said Czech firms could lose out to rivals from other states when it comes to import and export opportunities. Mr. Diro said the minister of finance and minister of industry and trade often helped open doors for his group’s members internationally.
The acting prime minister, Andrej Babiš, has in the past said that the state is not a travel agency. He said the country should be represented by diplomats, who are paid for that service, abroad.