Czech banknotes, crowns, bank safe – illustration photo.
Prague – The Czech Statistical Office (ČSÚ) will today publish data on the January development of the Czech Republic's foreign trade. Last December, it reached a deficit of 1.2 billion crowns, year-on-year it was smaller by 15 billion crowns. For the whole of last year, the Czech Republic's trade with foreign countries ended in a deficit of CZK 198.1 billion, which was CZK 189.2 billion larger than in 2021 and was also the highest since the country's entry into the European Union.
Advertisement'; }
According to analysts, the December foreign trade balance ended with a significantly lower deficit than the market expected. However, according to them, the trade balance will be in deficit this year as well. For example, Raiffeisenbank analyst David Vagenknecht believes that domestic and foreign demand will be dampened in the first half of this year, which will have a negative impact mainly on industrial production.
“However, a reduction in uncertainty and pessimism about future economic development, which is indicated by the results of recent surveys,” Vagenknecht said in February.
According to UniCredit Bank analyst Jiří Pour, the trade balance will contribute to GDP growth this year, thanks to lower imports and the resilience of the automotive industry. “On the other hand, problems in global supply chains and weakened foreign demand remain risks,” Pour added.
