According to the analysis of trends in Czech-German trade and investment activity published by the Association of Small and Medium-Sized Enterprises and Craftsmen of the Czech Republic and Komerční banka, between 2010 and 2015, exports of Czech businesses to Germany have increased by more than 50% / imports from Germany have risen by 60%. Currently, the share of exports to Germany on the total volume of Czech exports is 32.3%. The share of imports from Germany is 26% on the total volume of Czech imports.
Almost one-third of Czech exports head to the region of Bavaria. 3,500-4, 000 German-owned entities hold 21,9% (the highest share) of foreign investment in the Czech Republic. In terms of value added, exports to Germany account for 19% of the total value added created by Czech exporters.
Also, the value of reexports to China vie Germany amount to CZK 52bn, whereas direct Czech exports to China amount to CZK 45bn. There are around 150 Czech-owned (ownership of more than 50% of a company) entities in Germany with more than 3 employees, the analysis says.
"At the beginning, the main condition of Germans towards Czech business partners was reliability in delivery, later it was sustainability of quality and now there is a growing pressure on rising ability to adapt to process digitization", Karel Havlíček, Executive Director of the Association of Small and Medium-Sized Enterprises and Craftsmen of the Czech Republic says.
Read more details (in Czech).
Industry 4.0 examples in real life in Austria and Germany here (an article in Czech). Click also on an interview on Radio Zet with Karel Dobeš of the Association of Small and Medium-Sized Enterprises and Craftsmen of the Czech Republic talking about the need for craftsmen and technical skills to develop Industry 4.0.
27th March 2020