INSTANT VIEW 2-Czech Nov trade surplus beats fcast

    The Czech foreign trade balance 
posted a 6.43 billion crown ($303.2 million) surplus in 
November, above market expectations and 3.9 billion crowns 
larger than the same month last year. 
 
KEY POINTS: 
(in bln CZK)           Nov        Oct           Nov fcast 
 balance               6.43       4.35           3.8 
(nominal y/y change in pct) 
 exports              16.1       19.8            n/a 
 imports              14.2       19.2            n/a 
(brackets denote previously reported data) 
 
 (For full table of trade data, click on........[ID:nPRA001108]) 
 
- According to seasonally-adjusted preliminary data, exports 
increase 5.2 percent in November from October while imports rise 
1.5 percent month-on-month. 
- The monthly volumes of both exports and imports are the 
highest on record, the statistical office says. 
- The year-on-year rise in the monthly trade surplus from 2.48 
billion crowns in November 2005 comes on the back of a 3.2 
billion increase in machinery and transport equipment surplus, 
and a 2.4 billion drop in the deficit trade with mineral fuels. 
- The gap in crude oil and natural gas trade narrowed for the 
second month running, reflecting a fall in the country's import 
bill after an oil price drop globally. 
- In euro terms, exports rise 21.2 percent and imports by 19.2 
percent year-on-year in November, outpacing the growth rates in 
local currency terms because of a firming in the crown. 
 
 COMMENTARY: 
    MICHAL BROZKA, ANALYST, RAIFFEISENBANK, PRAGUE 
    "The November trade balance result is a pleasant 
surprise. 
    "In December, the trade balance will slip into a traditional 
deficit, so the surplus for the full year of 2006 will reach 
about 45 billion crowns." 
 
MARKET REACTION: 
- Crown little changed after the data, trading a tad higher on 
the day at 27.610 to the euro  by 0815 GMT. 
 
BACKGROUND: 
- Market expectations before release             [ID:nL05577682] 
- Slovak Oct trade figures                       [ID:nL12859599] 
- Polish trade in Oct                             [ID:nL1398680] 
- Hungary's Oct trade data                       [ID:nBUD001834] 
- Report on last Czech c.bank rate decision      [ID:nL20551907] 
                                                 [ID:nL20599163] 
 
- For further details on November 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                       
 
 ((Writing by Marek Petrus; Editing by Alan Crosby; 
prague.newsroom@reuters.com; Reuters Messaging: 
marek.petrus.reuters.com@reuters.net; +420 224 190 477)) 
 ($1=21.21 Czech Crown) 
  Keywords: CZECH ECONOMY/TRADE  
    

[PRAGUE/Reuters/Finance.cz]