Czech exports to Ukraine dropped by 29 pct in February

Czech exports to Ukraine dropped by 28.8 percent in February while exports to Russia registered an 0.4 percent in that month, the Czech Statistical Office said on Monday. Analysts see the Crimea crisis as the main reason behind the drop, as well as a slowdown of the Russian economy. Overall, Czech exports grew by over 15 percent in February, driven by trade with Germany, Austria, China, France, and other countries. A spokesman for the Exporters’ Association said Czech companies were concerned about an escalation of the crisis in Ukraine, adding that many expect lower volumes of new orders from their Russian business partners.

Author: Jan Richter