Last update on: 15.5.2009 | 16:54

UNICREDIT
SEE export to drop EUR 65bn; FDIs cut in half
Author/source: SEEbiz"SEE countries have open economies with foreign trade accounting for 70% of their GDP. Hard attained competitiveness and ability to preserve its own production capacities are crucial in overcoming the crisis", Debora Revoltella, chief analyst at UniCredit Group for SEE region stated.
Trade integration with the EU was especially successful.
"In numerous industries, such as mechanisation, electric and optic devises, auto industry and transport, textile and rubber industry, SEE countries became the leading producers in the EU", Revoltella added.
FDIs played a crucial role in constructing new production capacities in the region, whose successfulness added to the importance of the domestic market, which is today greater than those in China and Germany.
Still, the global crisis left obvious consequences on economies worldwide. The WTO and the IMF forecast a minimal drop in global demand of 10% this year. Also, UniCredit analysts expect export to drop for the first time in ten years by EUR 65bn compared to last year, with FDIs halved and unemployment growth high.
However, the international support to the region is prominent and banks have the key role.
"In twenty-year long transition, the right skills and models were adopted to make investing into this region the right choice", Revoltella concluded.
Vezane vijesti
-
ECONOMIC DOWNTURN 3/10/2010 2:41:37 PM
Cvetković: Serbia needs 2% GDP growth MT. KOPAONIK - Serbian PM announced over RSD 160bn of investments by the government and public enterprises... -
EXPORT DEALS 3/9/2010 11:06:08 AM
Ericsson NT pens HRK 85mn deal in Montenegro ZAGREB - "The contracts with Crnogorski Telekom mean the continuation of our successful co-operation",... -
STATE SUBVENTIONS 3/1/2010 3:02:53 PM
Kosor: Govn't to aid forestry with HRK 65mn ZAGREB - Croatia’s wood processing industry exported USD 755m last year, generating a surplus of USD... -
FORECASTS 3/1/2010 2:27:42 PM
Hypo: Croatia's GDP to drop 2.4% this year ZAGREB - However, a mild advance in tourist revenue is expected, but this will be remain below the figure... -
RECOVERY 2/26/2010 1:58:37 PM
Croatia's GDP falls 4.4% in Q4 2009 ZAGREB - In January, trade deficit stood at HRK 2.67bn, down 29.9% from January 2009, with import at...







