THE CZECH FOREIGN TRADE WITH FOOD: THE DOMESTIC PRODUCERS AT THE RISK?
Published: 29 Aug 2014
Abstract: The Czech foreign trade with food is a testament of positive and negative features of globalization. Its deficit is still worsening in the trend primarily due to trade with the European Union, because more than four-fifths of food imported into the Czech Republic (CR) is from this area. However, EU countries are even more important sales market because they absorb above ninety percent of Czech food exports. The rapid pace of food imports especially during period 2000-2011 was considerably higher than the dynamics of the total imports into the CR. Favorable influence on the consumer inflation due to generally rather lower prices of the imported food was, unfortunately, accompanied by a gradual weakening in the Czech agriculture and in the food industry which operates in the domestic market. This analysis covers balance of foreign trade with food, food exports and imports and the impact on the agriculture (employment). Also the food industry from point of view of the foreign direct investments in the CR and of domestic investment abroad is analysed briefly.
Keywords: foreign trade, food, competitiveness, food industry, insolvency, foreign direct investment
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