Thursday, a report from the Czech Statistical Office said the trade surplus stood at CZK23.4 billion in March, higher than the CZK8.69 billion surplus in February and represented the highest trade surplus on record. Economists expected the surplus to be only CZK7 billion.

In March, exports dropped 6.3% year-on-year to CZK199.6 billion, after falling 22.2% in February. Imports slipped 13.5% to CZK176.2 billion, slower than a 21.5% decline in the previous month.

In the twelve months to March, exports were down 6.7%, while imports fell 6.4%.

In the January-March period, exports dropped 17.5% and imports slipped 18.8% compared with the same period in the previous year.

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