Czech Republic Current Account Deficit Widens in May

The Czech Republic’s current account deficit widened to CZK 38.3 billion in May 2026 from CZK 17.6 billion a year earlier, far exceeding market expectations of a CZK 25 billion deficit. This marked a return to deficit after five consecutive months of surpluses. The primary income account deficit widened to CZK 66.3 billion from CZK 49.8 billion in May 2025, while the secondary income account deficit also increased to CZK 7.9 billion from CZK 2.8 billion. At the same time, the goods account surplus narrowed to CZK 24.2 billion from CZK 26.5 billion. In contrast, the services account surplus expanded to CZK 11.7 billion from CZK 8.4 billion.

The Czech Republic’s current account surplus narrowed sharply to CZK 1.2 billion in April 2026 from CZK 27 billion in the same month a year earlier and falling well short of market expectations of CZK 16.3 billion. This marked the smallest current account surplus since November 2025, as the goods account surplus declined to CZK 22.9 billion from CZK 35.9 billion in April 2025, while the services account surplus narrowed to CZK 5.1 billion from CZK 7.3 billion. At the same time, the primary income deficit widened to CZK 18.3 billion from CZK 10.5 billion a year earlier, and the secondary income gap increased to CZK 8.5 billion from CZK 5.7 billion. In the first four months of the year, the country recorded a current account surplus of CZK 71.7 billion, sharply down from CZK 140.5 billion in the corresponding period of 2025.

The Czech Republic’s current account surplus narrowed sharply to CZK 5.9 billion in March 2026 from CZK 27.1 billion in the same month of the previous year and below market expectations of CZK 13.1 billion. It marked the smallest current account surplus since November 2025, as the goods account surplus narrowed to CZK 48.7 billion from CZK 58.8 billion, while the services account surplus fell to CZK 3.3 billion from CZK 12.1 billion. Moreover, the primary income deficit widened to CZK 36.4 billion from CZK 30.3 billion in March 2025, while the secondary income deficit increased to CZK 9.7 billion from CZK 1.3 billion. Considering the first three months of the year, the country posted a current account surplus of CZK 52.4 billion.