Czech Exports to EU Increasing Steadily
- New Europe Investor
- July 28, 2015
According to data from the Czech Statistics Office, the reliance on the European Union for exports has increased steadily every year for the last three.
In 2012, 81% of exports were EU bound, with the number being 82% in 2013. Last year the figure was 83%.
The export strategy the state has adopted is trying to diversify trade. For 2012-2020, it has set out 12 priority countries for export, all outside of the European Union.
However, with Czech manufacturing currently very healthy, Czech trade with its neighbours such as Germany and Slovakia is booming. Last year saw trade increasing 7% to Germany and 13% to Slovakia.
In addition, Russian imposed sanctions on European food exports has hit all European Union nations, especially in the former eastern bloc. This has distorted figures towards the European Union.
According to the Vice-President of the Association of Exporters, Otto Danek, export levels to other European Union countries are still at levels of 2010-2011, so there is little need to panic about a lack of diversification just yet.