INSTANT VIEW 2-Czechs post record March trade surplus,beat fcast

...result for that 
month ever, following a 9.1 billion crown surplus in March 2006. 
 
KEY POINTS: 
(in bln CZK)           March      Feb        March fcast 
 balance              12.40      13.61        11.2 
(nominal y/y change in pct) 
 exports              13.0       19.5          n/a 
 imports              11.8       14.5          n/a 
 
 (For full table of trade data, click on........[ID:nPRA001286]) 
 
- The March monthly surplus is the largest ever for that month. 
- Volumes of both exports and imports are highest since November 
2006. 
- According to seasonally-adjusted preliminary data, exports 
rise 0.9 percent in March from February while imports grow 0.3 
percent month-on-month. 
- A surplus in the category of machinery and transport equipment 
segment rises by 4.8 billion crowns year-on-year. Exports in 
this area rise 15.0 percent, while imports are up 13.7 percent. 
- In euro terms, exports rise 15.4 percent and imports by 14.2 
percent year-on-year in March, outpacing the growth rates in 
local currency terms because of a previous firming in the crown. 
 
COMMENTARY: 
    ALES MICHL, ANALYST, RAIFFEISENBANK, PRAGUE 
    "Weather has moved the Czech economy and helped the trade 
balance achieve another record (surplus). Unusually warm weather 
months allowed firms to significantly increase production and 
consequently exports. 
    "We expect to increase our forecast for this year's foreign 
trade surplus." 
 
MARKET REACTION: 
- Crown largely flat after the news, trading near two-month lows 
at 28.260 per euro  by 0710 GMT. 
 
BACKGROUND: 
- Market expectations before release             [ID:nL02507716] 
- Slovak Feb trade figures                       [ID:nL11661448] 
- Polish trade in Feb                            [ID:nL12492933] 
- Hungary's Feb trade data                       [ID:nL06431978] 
- Report on last Czech c.bank rate decision      [ID:nPRG000331] 
                                                 [ID:nL26624395] 
 
- For further details on March foreign trade and other past 
data, Reuters 3000 Xtra users can click on the Czech Statistical 
Bureau's website: 
    http://www.czso.cz/eng/csu.nsf/kalendar/2004-vzo 
 
- For LIVE Czech economic data releases, click on        
- Instant Views on other Czech data click on        [CZ/INSTANT] 
- Overview of Czech macroeconomic indicators            [CZ/ECI] 
 
- Key data releases in central Europe    [CEE-CONVERGENCE-WATCH] 
- For Czech money markets data click on                 
- Czech money guide                                       
- Czech benchmark state bond prices                    
- Czech forward money market rates                       
 
 

[PRAGUE/Reuters/Finance.cz]