According to data from the Czech Statistical Office (CSO), Czech industry turned into a year-on-year decline of 2.6 percent in February 2021 from January's growth of 0.3 percent. The reason is the coronavirus pandemic that negatively influences the production of cars, electrical equipment and building materials. However, companies confirmed that they concluded more new orders than last year. The data also shows that month-on-month, industrial production fell by two percent. The main reason for the results are serious disruptions in the supply chains related to COVID-19 restrictions. The production of cars fell by 8 percent year-on-year in February, the production of electrical equipment by 4.2 percent and the production of non-metallic mineral products deteriorated by 8.8 percent. On the other hand, the production of pharmaceuticals recorded an increase by 25 percent, while the production of energy was also slightly better. Apart from that, exports from Czechia grew by 3.8 percent year-on-year, while imports grew by 3.3 percent.
Prepared by the team of foreign office CzechTrade Belgium