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Record trade between the Czech Republic and India for the year 2016

Date: 01 January 2016 - 31 December 2016

Historically, the highest value of exports to India reached in 2016. Czech exporters exported goods in it for 15.22 billion and improve its current performance in 2011, when raised in the Indian market with a value of 15.09 billion. Compared to the year 2015, exports rose in 13.2% of the CZK (in USD of 14.1%). In record values was mutual Czech-Indian trade turnover that in 2016, has reached US $33.13 billion. In view of the faster growth in exports from imports (imports of 7.9%), with the trade deficit shrunk to the detriment of the CZECH REPUBLIC about 454 million (CZK from 3.14 on 2.69 billion).

The figures confirm a trend that Czech producers and exporters are increasingly looking at the occasion of the Indian economy and that they are able to take advantage of the moment of its robust growth exceeding 7% interval.

Growth in 2016, the result was the third consecutive for the past consecutive years. However, the dynamics of his earlier years ahead and was the highest. Overall, the then Czech exports between record year in 2013 and 2016, which stopped his fall and in which reached 10.99 billion) grew by 38.5%.

Enjoy also the structure of Czech exports. PRIM in her play products with higher added value (automobile engines, parts and components for motor vehicles, trucks, industrial robots, machine tools, machine tool Center, textile, optical instruments, a variety of electronic devices).

Party of the increased interest in the Indian market remain the only agricultural and food products, whose exports in the year 2016, compared with the previous year and amounted to only 57.76 million (CZK extracts from plants, legumes, cones of hop, used to feed cattle. However my lack of interest of Czech farmers and potravinářů your logic in the closedness of the Indian market and very complex arrangements, referred to several dozen million in exports is heavily under options.

A positive is considered also the fact that it does not grow, but Czech exports also imports from India, and the pattern of imports reflects the comparative advantage of the Indian economy, has a link with the action of Indian investors on the Czech market, against a number of segments has a complementary character and increases opportunities for Czech consumers ' options.

Czech Republic generates in the trade with India the deficit in recent years. This year decreased as a result of a faster pace of exports from imports (about 454 million) and reached the value of 2.69 billion.

Ambassador Milan Hovorka to the statistics, said: "the forecast of development of the Indian economy and the application of Czech exporters on the Indian market for the year 2017, remains optimistic. It can be expected that, following the alleviate economic growth rates as a result of demonetizace and the associated drop in industrial production at the end of the year 2016, with India's economy quickly returns to the targeted growth trajectory somewhere in the interval of eight percent. In the overall summary, then will offer a number of attractive opportunities for domestic and foreign manufacturers, vendors, and investors. A risk factor is the external environment, which may cause pressures to reduce imports. I believe that India will be able to resist any protectionist pressures. "