Sunday, February 8, 2009

Germany as the Major Destination for Exports

Germany is the major trade destination for exports from five CEE countries:

1. Czech Republic - 30.9% of exports (1-11/08)
2. Hungary - 28.4% (2007)
3. Poland - 25.0% (1-11/2008)
4. Slovakia - 20.3% (1-10/2008)
5. Slovenia - 19.8% (1-11/2008)

Since exports-to-GDP ratios in Central and Eastern Europe are very high (roughly from 50 to 100%), a two-percent decline in Germany's economy this year is felt considerably in orders decline in the rest of "Mitteleuropa" as well.

Note: Lithuania's major export market is Latvia. Latvia's statistical office does not provide the necessary data. Estonia's major export partner is Finland. Croatia's major partner is Italy.


Anonymous said...

Exports as 100% portion of GDP? Hard to imagine ;)

Michal Lehuta said...

In case of Slovakia, for example, exports constituted 85% of GDP during the first three quarters of 2008. In some smaller export-oriented countries, like Hongkong, export accounts for even more than 100% of GDP, since a lot of the volumes is being re-exported (i.e. account for a lot in terms of sales but not so much in terms of value added/GDP).

Antal Dániel said...

I think it is the wording... the export is not part of the GDP, so you should write export to GDP ratio, or value of export compared to GDP, etc.

Michal Lehuta said...

did that, thank you!