Czech export doing well in spite of external developments-experts | info.cz

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Czech export doing well in spite of external developments-experts

Czech export doing well in spite of external developments-experts
 

Czech foreign trade is performing well despite Germany's slowdown and a downturn in global demand, analysts approached by CTK have said. Statisticians said today that the foreign trade surplus rose by Kc14.4bn yr/yr in September to hit the highest value this year, Kc25.1bn.

Domestic export may see a new record this year, but uncertain external developments make Czech businesses thoroughly consider further investments, and some firms are starting to feel the downturn, analysts said.

Last year's record export figure may be surpassed this year, said Raiffeisenbank analyst Eliska Jelinkova. Car exports that were at their highest this year in September were a major contributor to the strong result, she said.

Like in August, the trade balance in September was much better than expected by analysts, said UniCredit Bank economist Jiri Pour.

"In yr/yr terms, it was favourably affected by higher car exports, lower imports of other transport equipment, and lower imports of crude oil and natural gas," said Pour. Machinery exports, too, were doing well, he added.

Given the situation abroad, the Czech car industry's resistance is surprising, according to him.

The automotive segment recorded a 6.8 percent rise of exports yr/yr in the Jan-Sept period, which is a very good result, he said.

Seasonally-adjusted exports were 1.7 percent higher and imports added 1.9 percent mth/mth, the former showing an upward trend and the latter stagnation, statisticians said.

Imports are rising at a slower rate, which testifies to a slowing economic activity, said Jelinkova.

 
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