Czech Republic - Balance of payments

The current account balance in 2001 improved from 2000, when it stood at approximately $3.5 billion, or 4.8% of GDP, due to a narrowing trade gap. Strong inflows of foreign direct investment have led to surpluses in the financial account, which easily cover the current account deficit.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of the Czech Republic's exports was $38 billion while imports totaled $41.7 billion resulting in a trade deficit of $3.7 billion.

The International Monetary Fund (IMF) reports that in 2001 the Czech Republic had exports of goods totaling $33.4 billion and imports totaling $36.5 billion. The services credit totaled $7.09 billion and debit $5.6 billion. The following table summarizes Czech Republic's balance of payments as reported by the IMF for 2001 in millions of US dollars.

Czech Republic

Current Account -2,624
Balance on goods -3,078
Balance on services 1,524
Balance on income -1,540
Current transfers 470
Capital Account -9
Financial Account 4,058
Direct investment abroad -95
Direct investment in the Czech Republic 4,924
Portfolio investment assets 125
Portfolio investment liabilities 798
Other investment assets -1,271
Other investment liabilities -337
Net Errors and Omissions 362
Reserves and Related Items -1,787
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