Czech Republic Freight Transport and Shipping Report Q2 2016
BMI View: We expect all freight modes to grow in 2016 and maintain positive growth rates over themedium term, driven by improved domestic demand and recovering European economies. The strongperforming Czech manufacturing sector will support activity levels for rail and road freight while thegovernment's strategic focus on electronics and software production is benefitting air freight.
Real GDP growth in the Czech Republic will average 2.6% in the 2017-2020 period after an anticipated3.4% in 2016. These rates are in line with other European economies and namely Czech Republic's majortrade partners, Germany, Poland and Slovakia for which we also forecast robust increase in imports,boosting Czech export volumes. A positive on domestic demand are the low levels of inflation andunemployment but with wages not increasing, imports growth is hindered. Low oil prices translate to lowerfuel costs that are benefitting freight operators and also the Czech economy, being a net oil and gasimporter.
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