In the third quarter, economic growth was unexpectedly good, but production and export performance weakened. In September, the value of goods exports also declined by 1% compared to September of the previous year.
Increasing exports is becoming more and more difficult in cases where the economic growth of trading partners begins to slow down. Even if there is demand for a particular product group, the acute shortage of labor reduces production and, consequently, exports volume. In turn, rising costs can be a challenge for competitiveness.
Seconds in September consist mainly of rape seed, dairy products, as well as machinery and equipment. It is also likely that in the coming months we will see the hot and dry summers in the exports of agricultural products, especially wheat and rape.
The distribution of machinery and equipment this year has a significant impact on the volatility of exports of turbines and other gas turbine engines, which are likely to be related to the replacement of airplanes and not to actual economic activity. In September, these fluctuations were negative.
In spite of the challenges, in September and this year, as a whole, they have prepared top quality wood processing companies, driven by high selling prices. Exports of wood and wood products in euro rose by more than 17% over a half year. Since the installed film is already very high and the deceleration in price increases is expected, export performance will improve so rapidly and more rapidly.