Czech exports to Belgium

By H.E. Muller, Czech Ambassador to the Kingdom of Belgium

The Belgian market should not be underestimated. During the first 8 months of 2010 the Czech Republic exported CZK 40.7 billion of goods to Belgium, a higher figure than to the far bigger Russian federation.

As a consequence ECIPEof the financial and economic crisis, imports dropped by more than 20% in 2009. 2010 brings the first signs of recovery in Belgium and its GDP grew slightly. Czech exports to Belgium reflect this positive balance and increased by 11% (to CZK 40.7 bln as indicated above). In 2011 we might reach the record numbers of 2007.

More than 88% of Czech exports to Belgium originate in finished products with high added value, such as machinery and vehicles (SITC 6, 7, 8). Other good results also include agriculture and the food industry (up by 2.4%) as well as chemicals (increased by 27%).