Czech industrial production drops 1.4% in 2024, worst since 2020

Czech industrial production fell 1.4% year-on-year in 2024, marking its second consecutive decline and the worst result since the COVID-19 crisis. In December, the year-on-year drop accelerated to 3% from 2.7% in November, though production rose 1.6% month-on-month, according to the Czech Statistics Office.

The biggest declines were in machinery, motor vehicles, and metal production, along with coal mining. In contrast, food and paper production grew.

Industrial output in 2024 was 0.5% lower than in 2021 and 1.1% below pre-pandemic levels. However, Czech industry still performed better than the EU average, where production fell 2.5% in the first 11 months of 2024. In Germany, a key trade partner, the decline was nearly 5%.