Britain is currently the Czech Republic’s fifth largest export market and a successful conclusion to post-Brexit trade negotiations is therefore a top priority for Czech diplomats. However, Czechs are also trying to tap in to new business opportunities in the UK and the British government’s promises to invest in its northern infrastructure and hospitals have been identified as potential new avenues for exports.
The Czech Republic’s industrial production has declined for the first
time in five years: it suffered a drop by 3.4 percent in December, the
Czech Statistics Office reported on Thursday. The development was affected
mainly by a lower production of motor vehicles, other transport equipment
According to preliminary data, the country’s external balance in goods ended in a deficit of CZK 6.7 billion, which was worse by CZK 2.1 billion than in the previous year.
Exports decreased year-on-year by 2.4 percent to CZK 247 billion while imports fell by1.5 percent to 253.7 billion.
Czech Foreign Minister Tomáš Petříček completes his three-day official visit to India on Wednesday, during which he and his delegation primarily sought to strengthen mutual ties, especially in business. Martin Hříbek from Charles University’s Institute of South and Central Asia points out that while bilateral ties go a long way back, in many areas relations had to be rebuilt from scratch after 1989.
The Czech Republic is the seventh biggest exporter of fireworks in the
world, according to world business data. The country exports 10 million
dollars worth of fireworks annually.
The Netherlands is Europe’s top exporter of fireworks selling 52 million dollars worth of fireworks every year.
The Czech Republic is also one of the most lenient states when it comes to the sale of fireworks.
According to the CTK news agency there are currently 11 e-shops offering F-4 –the most dangerous category of fireworks which should only be handled by professionals.
The situation at the Czech Republic’s internationally known Zetor tractor company has been stabilised following major layoffs announced last year. The downsizing and clearing of inventory proved effective and the company will even make a small number of fresh hires in the coming year, Czech Television reported.
Confectionery manufacturers are among Czech businesses most likely to be hard hit by Brexit, Czech Radio reported this week. According to an analysis carried out by the country’s biggest bank, Česká spořitelna, about a quarter of confectionery goods produced in the country are destined for the British market.