Czech exports to EU off to a strong start in January

26-02-2003

Czech exports to the European Union got off to a surprisingly strong start at the beginning of the year, rising in January by almost eight percent year-on-year to 74 billion crowns. Economists, however, are warning against early optimism, saying the numbers on Czech exports do not reflect negative economic trends in neighbouring Germany. Another factor somewhat distorting the current figures: a 3 percent drop in Czech exports last year. Some Czech economists expect positive growth in exports in 2003 to rise by more than ten percent by the end of the year, stimulating overall economic growth. Seventy percent of Czech exports go to the EU, with around half of that going to Germany. Dominant exports to EU countries include automobiles, electrical appliances, office tools, and computers.