(Recasts lead, adds analyst comment)

PRAGUE (Thomson Financial) - The Czech February foreign trade surplus grew to its second highest monthly total in history as the firming crown has yet to dampen the country's rising export growth, although the currency's effect could show up during the next quarter.

February foreign trade stood at a 14.3 billion Czech crown surplus, growing by 1.4 billion crowns year-on-year and bolstered by rising trade in cars and machinery, data released by the Czech Statistical Office (CSU) showed today.

The figure was compared to market expectations of a 12.8 billion crown surplus and versus a 12.2 billion crown surplus in January.

Exports grew 11.4 percent annually, while imports rose 11.5 percent, the data showed.

"There is no visible impact from the strong crown yet," said Jan Vejmelek, of Komercni Banka. "We expect some negative impact to show up during the second quarter."

The Czech economy has been expanding by more than 6 pct over the last three years boosted by export-oriented foreign investment, but it is expected to ease this year as companies invest less in expansion, tax reforms and higher prices cool consumer demand, and the economy in the eurozone, the country's largest trading partner, slows.

However, David Marek of Patria Finance said, "The data confirms a good condition of the euro zone economy, and that foreign demand continues."

At 9.30 a.m., the Czech crown was 0.17 percent stronger against the euro at 25.03. jason.hovet@thomson.com +420 222 191 109 jrh/vlb/jrh/ejp/jrh/tc

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