INSTANT VIEW 2-Czechs post first April trade surplus in 13 yrs

...April, ending in the black in that month for 
the first time in 13 years following a 1.4 billion shortfall in 
April 2006. 
 
KEY POINTS: 
(in bln CZK)          April      March       April fcast 
 balance               3.00    12.6 (12.4)     2.2 
(nominal y/y change in pct) 
 exports              19.7     14.5 (13.0)     n/a 
 imports              16.8     13.2 (11.8)     n/a 
 
 (For full table of trade data, click on........[ID:nPRA001330]) 
 
- According to seasonally-adjusted preliminary data, exports 
fall 1.4 percent in April from March while imports dip 0.1 
percent month-on-month. 
- The trade balance improves due to a bigger surplus in trade 
with machinery and transport equipment, which expands by 4.5 
billion crowns year-on-year. Exports in this area -- including 
passenger cars in particular -- are up 21.3 percent. 
- The monthly gap in mineral fuels narrows by 1.9 billion crowns 
year-on-year, reflecting about 40 percent fall in natural gas 
imports to their lowest since September 2005. 
- In euro terms, exports rise 21.9 percent and imports by 18.9 
percent year-on-year in April, outpacing the growth rates in 
local currency terms because of a previous firming in the crown. 
 
COMMENTARY: 
    MICHAL BROZKA, ANALYST, RAIFFEISENBANK, PRAGUE 
    "The Czech crown should not react to the result. However, 
the overall positive development of foreign trade this year 
speaks in favour of a firming in the crown against the euro." 
 
MARKET REACTION: 
- Crown steady at 28.424 per euro  by 0707 GMT. 
 
BACKGROUND: 
- Market expectations before release             [ID:nL30315279] 
- Slovak March trade figures                     [ID:nL11266722] 
- Polish trade in March                          [ID:nL18174753] 
- Hungary's March trade data                     [ID:nL06431978] 
- Report on last Czech c.bank rate decision      [ID:nPRA001319] 
                                 [ID:nL31276683] [ID:nL31320495] 
 
- For further details on April 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