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Czech Trade Surplus Widest in 7 Months as Recovery Accelerates

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Dec. 7 (Bloomberg) -- The Czech Republic’s trade surplus grew to the largest in seven months in October as the economic recovery gathered pace.

The monthly surplus was 15.3 billion koruna ($816 million), the Prague-based statistics office said on its website today, compared with a revised 10.9 billion-koruna surplus in September. The median estimate of 15 economists in a Bloomberg survey was for a surplus of 11 billion koruna.

The Czech Republic is recovering from the worst recession since the end of communism in 1989 after demand for its products, including cars made by Volkswagen’s Skoda Auto AS, crumbled last year and pushed the public finance deficit to 5.8 percent of gross domestic product.

The economy, in which exports make up about 70 percent of output, grew an annual 3 percent in the three months through September, the fastest pace in nine quarters. Exports rose 17.2 percent on the year to 231.704 billion koruna in October, with imports rising 19.4 percent to 216.407 billion koruna.

To contact the reporters on this story: Peter Laca in Prague at placa@bloomberg.net;

To contact the editor responsible for this story: Willy Morris at wmorris@bloomberg.net

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