The Czech Republic's machine tool exports fell by 37% in the first three quarters of 2010

According to statistics from the Czech Engineering Technology Association (SST), in the first three quarters of 2010, Czech machine tools and molding equipment exports were CZK 7.757 billion, a decrease of 37% year-on-year. Relevant person in charge of SST stated that despite a sharp drop in product exports, it is expected that the Czech machine tool industry will gradually recover next year, and both machine tool production and exports will increase.

Sden's Zdenek Cvrkal said that the decline in machine tool exports in the first three quarters proved that the economic crisis continues. Ivan Capek, vice president of SST, pointed out that the growth of the German market and the increase in Chinese industrial demand will help the industry recover. Capek stated: "We look forward to increasing investment in Europe and other industrialized countries like China, India and Brazil."

Most of the Czech machine tool products are exported to Germany, Germany accounts for about 25% of the market share, followed by about 14% of the products exported to Russia and 13% of the products exported to China.

The first three quarters of 2010. Imports of Czech machine tools and molding equipment fell 34% year-on-year to 3.89 billion Czech crowns. Among them, Germany is the most important importer of Czech machine tools, and about 35% of its products are imported from Germany. In addition, 8% of the products are imported from South Korea and 7% are imported from Italy.

The production of Czech machine tools and molding equipment began to grow in 2003 and once rose to the historic high of CZK 16 billion in 2008. According to Capek, industry output has shrunk to 2005 levels this year. Western European engineering company's product sales and production have also declined.