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Experts: Czech exports will probably not reach the numbers before the crisis until 2023

Updates: 08.04.2021 12:34

Prague – According to experts, a more significant recovery in Czech exports could occur in April and May. Already last month, however, exports faced a coronavirus pandemic, the benchmark is so low. Exports are unlikely to reach pre-crisis numbers until 2023. This follows from the so-called export index prepared by Raiffeisenbank and the Association of Exporters. Their representatives introduced him at an online press conference.

According to Raiffeisenbank’s chief analyst Helena Horská, the industry, and therefore exporters, are currently facing an extension of the delivery times of production materials, or their shortage. Especially in the automotive industry, missing chips and semiconductors partially limit production. This year’s export results also reflect the completion of Britain’s departure from the European Union. According to Horská, the mentioned influences could bring down optimistic expectations of export development for the coming months.

According to the vice-president of the Association of Exporters Otto Daňek, the lack of qualified workers in industrial enterprises or the unclear conditions of the government in dismantling are also a problem. According to him, the remaining complication is insufficient capacity and higher prices of container transport, but also a significant increase in commodity prices. For example, copper has risen in price by more than 80 percent a year. “This must be reflected in product prices, the pressure on inflation will increase and everything will lead to endless price negotiations in the supply chain. If the Czech National Bank began to control inflation, the koruna would strengthen and this would significantly harm exporters,” he said.

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According to Danek, last year’s exports ended last year by a drop of 138 billion crowns, ie by three percent. The original forecasts counted on a decline of 15 to 20 percent.

In January, according to the Czech Statistical Office, exports weakened by 0.6 percent to CZK 303.1 billion, in February they strengthened by 3.8 percent to 309.8 billion crowns. According to Daňek, the February result surpassed last year and the year before. “I think it’s good. Maybe no one even expected that the first two months could bring an average increase. We are all happy and we hope that it will continue to do so,” he added.

economy trade



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