Czech exports again showed record numbers in 2021, but as expected, the negative trade balance, which was last in 2010, manifested itself. For the third year in a row, trade activities have been affected by the liquidity situation resources and raw materials, which are perceived as transient but still persist.
Commodity prices, especially energy prices, are rising sharply. Supply-chain is still struggling with both energy prices and a shortage of some raw materials and components. It is important for Czech exporters to respond to changing conditions in the world and to constantly monitor new business opportunities.
2021
Overall, according to preliminary data, Czech exports increased year-on-year in the calendar year 2021 (ie in comparison with the same period of 2020) by 13%, while imports also showed growth by 19.2%. Exports show a slight growth trend of 0.8%.
Last year, most exports were made to Germany (31% share), Slovakia (9.7% share) and Poland (7.1% share). Exports to Austria increased the most by 25.7%, Poland by 22.2% and Italy by 18.8%. Exports to the Russian Federation fell the most by 5.5%, to the Republic of Korea by 5.4% and to Turkey by 4.9%.
The most important export item was motor vehicles, which accounted for 24.5% of total exports and their exports increased by 5.2% year on year. However, between 2021 and 2019, this item was the only one in the TOP 10 export items to decrease, by 5.6%.
The second most important item was exports of machinery and equipment, which accounted for 10.7% of total exports and increased by 10.2% year on year. In third place was the export of computers, electronic and optical devices with a 10% share of total exports, compared to 2020 it increased in 2021 by 2.6%.
December 2021
According to preliminary data, Czech exports again showed a year-on-year increase of 8.2% in December 2021, reaching CZK 316.2 million. Compared to November 2021, however, there was a decrease of almost CZK 65 million. December exports were thus the 5th lowest for the whole of 2021. Exports reached the lowest values in August and January, when they were below CZK 300 million.
Most of the selected countries increased year-on-year in December 2021 – exports to Slovakia – by 26% (Slovakia’s share of total exports is 11.4%), to the USA by 25.7% (share of exports 2.7%) and to Austria by 24% .9% (export share 4.2%). On the other hand, most of the selected countries decreased year-on-year by 26.9% (share of exports 0.2%), Spain by 13.7% (share of exports 2.1%) and Turkey by 13.3% year-on-year (share of exports 1%).
In terms of share of exports, the most important item is motor vehicles. In December 2021, it accounted for 22.8% of total exports. However, it decreased by 11.4% year-on-year. The second largest item of computers, electronic and optical devices (share of exports 10.9%) also recorded a year-on-year decrease, namely by 7.7%. Other items in the TOP 10 showed a year-on-year increase in December. As in 2020, the item electricity, gas, steam and air conditioning was out of line, when in December 2021 the increase was almost 475% (in 2020 it was even 520%).
Author: CzechTrade
