The development of Czech exports in 1996 can be characterised as a slower one, if we compare it with imports in the same period.
Foreign trade is important to the development of the Czech economy.
Foreign trade played an important role at the beginning of the transformation process when exports of goods and services cushioned the decline in overall output. At that time our economy was able to deal with the problem of the collapse in traditional markets and other adverse external influences, so that foreign trade contributed to the stabilisation of the economy. It is interesting that the dynamism and the volume of exports outweighed those of imports, so that there was a balance of payments surplus throughout this period. In this relatively short period, a basic change occurred in the territorial orientation of Czech foreign trade, from Eastern to Western countries. Since mid 1994, the process of revival and increasing economic growth has continued, accompanied by a relatively strong growth in local demand.