The Czech Republic experienced a balance of trade surplus of CZK 152.6
billion last year, according to figures released on Monday morning by the
Czech Statistics Office. The result was CZK 11.1 billion down on the
balance of trade surplus recorded in 2016.
Compared to the previous year, Czech exports increased by a record 5.6 percent, to CZK 4.2 trillion, in 2017. Imports grew by 6.3 percent.
Over a thousand new apartments are to be built on a former industrial site
in the Prague district of Vysočany, E15 reported on Monday. Factory halls
of the collapsed firm ČKD DIZ are to be demolished to make way for the
construction project, which is the biggest yet from billionaire developer
Milan Šrejber and his Pankrác development company, the newspaper said.
A representative of the firm said the flats would be built in five or six stages. The apartment complex, named Vivus Kolbenova, will cost over CZK 3 billion.
Around 32,200 new companies were created in the Czech Republic in 2017, according to the consultancy company Bisnode. That’s the highest figure since the pre-crisis year of 2007, it added. Most of the new companies were created in Prague and South Moravia with their main activities services, rentals, management of real estate, wholesale and accommodation. Bisnode said that the total number of companies in the country last year rose by 5.3 percent to stand at 475,600.
Advertising revenues in the Czech Republic climbed by around 10 percent to
around 150 billion crowns, according to the Association of Communications
Agencies on Thursday.
Spending on television advertising is estimated by Nielsen Admosphere to have climbed by around 13 percent to just over 48 billion crowns. Spending on printed publicity rose by just under 3 percent to total around 19 billion. The figures for Internet spending are expected to be known in February.
A meeting of the Visegrad Group in Budapest next week will focus on the
establishment of a Central European Development Bank, Hungarian Prime
Minister Viktor Orban told Hungarian public radio on Friday.
Mr. Orban praised China for its plans to invest in the region and stressed the need for Central European states not to be dependent on EU funds alone, but to look for sources outside the European Union. China’s financial conditions are better than those offered by the EU, Orban noted.
Czech exports in 2017 reached a record level of 4.2 trillion crowns, up 5.0 percent on the results in the previous year. The figure was given Thursday by the Czech Exporters’ Association which was hosting a conference together with Raiffeisen Bank. Participants said that last year’s figure is unlikely to be beaten this year because of the ever strengthening crown and shortages of workers and spare capacity across Czech industry and services.
The Czech shopping boom continued in November, according to figures
released by the Czech Statistical Office on Thursday.
It said retail sales rose by 7.8 percent in the month compared with the situation in the same month a year earlier. Sales of non-food items showed the biggest increase at 10.7 percent with food items up 3.3 percent.
Sales by mail order or the Internet climbed by almost a quarter compared with the previous year. Many Czech have extra money in their pockets thanks to higher wages and low unemployment.
Retailers have continued to register high sales even after Christmas, rivalling that of pre-holiday spending and marking a rise of roughly five percent year-on-year, according to the Czech News Agency. Many e-shops slashed prices on December 26 as did stone-and-mortar shops when they reopened a day later.
In recent years, Czech two way trade with the United Kingdom has advanced by leaps and bound. The country was already the fourth biggest Czech trade partner two years ago in 2015, following first placed Germany, Slovakia, and just trailing Poland in third place. But the current trading environment for Czechs in Britain is a tough one.
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