The four-year decline of mutual trade between the Czech Republic and the Russian Federation has come to an end. Foreign trade with Russia grew 12.1% in 2017.

The information was provided by the Association of Small and Medium Enterprises and Sole Traders of the Czech Republic (AMSP) and the bank Komerční Banka (KB), which have presented an analysis of mutual trade an investments on the occasion of President Miloš Zeman’s visit to Russia.

A survey carried out by AMSP on a sample of 500 SMEs has yielded similar results. According to the survey, 38% of exporters are delivering to markets in the Commonwealth of Independent States and 6% plan to start exporting their goods to the region soon.

Czech exports to Russia totalled CZK 118bn in 2012 and CZK 75.2bn in 2016. Import dropped from CZK 154.9bn in 2012 to CZK 83.9bn in 2016.