Hard Brexit would threaten in Czech Republic up to 15,600 jobs

Published: 23.10.2018 Related countries:  Israel Israel

Problems of Czech automotive in connection with Brexit

A trade collapse as a result of a hard Brexit could threaten up to 15,600 jobs in the Czech automotive industry and deduct 1.4 pp from the current GDP growth, according to estimates by Coface. As a result of this, other jobs and consumption could be at risk in the second wave.
In 2017, 1.42 million vehicles were manufactured in the Czech Republic. The sector generates 21% of Czech exports that depends on demand for new vehicles in many countries, including Israel. 7.3% of automotive exports go from the Czech Republic to Great Britain.

 

Source: https://www.cianews.cz/en