Exports and imports with other countries also improved
The Czech Statistical Office announced that trade between the Czech Republic and Italy reached EUR 17.9 billion in 2022, making Italy the fifth largest trading partner of the RC. This number increased by 20% compared to 2021: Italian exports to the Czech Republic increased by 13% to EUR 8.6bn, while Czech exports to Italy increased by more than 25% to EUR 9.4bn. Overall, exports increased by 8.9% to CZK 346.7bn and imports by 3.9% to CZK 348bn. The balance of foreign trade with other European countries improved by CZK 22.3Bn. In a global perspective, Czech exports increased by 13% and imports by 18%.
The Czech Republic’s foreign trade balance closed the year 2022 with a deficit of CZK 1.2bn, CZK 15bn less than in 2021. This improved due to trade in computers, electronic and optical devices. Still, the surplus of trade in motor vehicles increased and the deficit of basic pharmaceuticals decreased. The negative effect was caused by the trade deficit in oil, natural gas and electrical equipment.
The graph below shows the development of the trade balance (the middle one) in general, with European countries (upper blue line) and with non-European countries (lower red line):
Sources: https://www.czso.cz/ ; https://www.camic.cz/
Sources of images: https://storyset.com/
