Czechs export more services but lag behind other developed countries

The Czech exports of services are rising but the country still lags behind the rest of the developed world, according to an analysis by the Czech Industry and Trade Ministry. Last year, the Czech Republic exported more than 341 billion crowns, or over 20.6 billion US dollars, worth of services, which was 10 percent more than in 2006. Imports of services in the same period rose by seven percent to 286 billion crowns, or more than 17.2 billion US dollars. The share of services in total exports however dropped to just over 12 percent which is less than in other EU and developed countries.

Around 80 percent of the Czech exports of services went to other EU countries, especially to Germany, Slovakia and the UK. The analysis by the Industry and Trade Ministry estimates that the exports of service will keep increasing in the coming years.

Author: Jan Richter