Economist: Export growth is becoming increasingly difficult



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In the third quarter, economic growth was unexpectedly good, but production and exports declined. In September, the export value of goods even fell by 1% compared to September of the previous year.

Export growth is becoming increasingly difficult in circumstances where economic growth of trading partners is beginning to slow down. Even if there is a demand for a particular product group, an acute labor shortage limits production and hence the volume of exports. In turn, rising costs can become a challenge to competitiveness.

Minuses in September mainly consist of oilseed rape, dairy products and machinery and equipment. It is also likely that in the coming months we will see hot and dry summers in the export of agricultural products, especially wheat and rape.

The division of machinery and equipment this year has a significant impact on the volatility of exports of turbofire and other gas turbine engines, which are probably related to the replacement of aircraft and not to actual economic activity. In September these fluctuations were negative.

Despite all the challenges, in September and this year, as a whole, they paved an excellent quality wood processing company, which continues to stimulate high sales prices. Exports of timber and timber products in euro increased by more than 17% for half a year. Given the fact that the already installed tape is already very high and that a slower price increase is expected, exports will increase as fast, more and more.

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