The value of exports of goods from the Czech Republic abroad should increase this year by approximately 2.3 percent to a record €258.7 billion, up from last year’s €252.8 billion. According to the exporters’ association, foreign trade of the Czech Republic should end this year with a surplus at the level of €28.1 billion—year-on-year lower by about 2 percent. Last year, the trade balance (difference between export and import) was at a record surplus of €28.7 billion.

Behind the slowdown in export growth are, according to them, the still worrying situation in Germany — where most Czech exports go. The very unclear situation with exports to the USA doesn’t help either. Exporters expect that a strong czech crown and expensive energy will continue to reduce export dynamics also in 2026. Exports next year are estimated at the level of €260.7 – €264.8 billion. The stagnation of the German economy is now reflected in a slight decrease of Germany’s share in Czech exports. While in the first nine months of 2023, 33.1 percent of Czech exports went to Germany, and last year 32.4 percent, this year until the end of September it is 31.8 percent.

In Czech exports to the USA, one can clearly see the impact of tariffs imposed on exports of goods from the EU to the USA. In the first half of the year, due to pre-stocking, Czech exports to the USA increased year-on-year by 18 percent to €3.9 billion. In the third quarter there was a decrease by 13 percent to €1.6 billion. In total, Czech exports to the USA this year until the end of September are about 7 percent higher year-on-year. The July agreement between the EU and the USA set a 15 percent tariff on most goods from the European Union imported into the United States.

Source: Novinky.cz