Czech exports have withstood the initial shock of war in Ukraine.
Compared to February, the value of exported goods even increased
slightly (up 0.3%), according to the Export Index (IE) of
Raiffeisenbank (RB) and the Association of Exporters. According to
RB chief economist Helena Horská, however, the overall decrease in
the index was prevented mainly by increased export prices of
energy, food and other items.
Without this effect, exports would
drop 4% in month-on-month and 9% in year-on-year terms. The IE
forecast still counts on a subdued performance without a clear trend
resulting from weakening demand.