Sunday , August 14 2022

Economist: Growing exports are becoming more and more difficult


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

Export growth is becoming increasingly difficult in conditions where the economic growth of trading partners is slowing down. Even if there is a need for a particular product group, an acute labor shortage limits production and, therefore, the amount of exports. In turn, rising costs can become a challenge to competitiveness.

The minuses in September consist mainly of rapeseed, dairy products, as well as machinery and equipment. It is also likely that in the coming months we will see the hot and dry years of exporting agricultural products, especially wheat and rape.

The division of machinery and equipment this year has a significant impact on the volatility of exports of turbojet and other gas turbine engines, which will probably be associated with replacing aircraft aircraft, not with real economic activities. In September, these fluctuations were negative.

In spite of all the challenges, September and this year, as a whole, paved excellent woodworking companies, which are further motivated by high sales prices. Export of wood and wood products in euros has increased by more than 17% for half a year. Bearing in mind the fact that the installed tape is already very high and a slower price increase is expected, the export performance will improve so fast, more and more.

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