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Slowdown in many different spheres
Even though the economic situation was expected to improve, in 2012 the companies operating in the Central European markets once again had to cope in dire economic conditions
The data collected during the seventh edition of the ranking that presents the biggest enterprises in Central Europe affords us an opportunity to analyse and understand how the largest companies are reacting to changes in the market environment.
The previous year was marked by economic slowdown in the region. The largest economies were developing at a slower pace than in 2011. GDP in Poland increased by 2% (4.5% in 2011), in Ukraine it went up by 0.2% (5.2% in 2011) and in Slovakia – by 2% (3.2% in 2011), whereas the Czech and Hungarian economies moved into recession with GDP declines of 1.2% and 1.7% respectively.
Euro zone recovery
The problems in the Eurozone caused that exportation – which was the major growth driver in 2010 and 2011 – stagnated. The biggest market, i.e. Germany, saw only a slight GDP increase by 0.9% (in 2011 the increase amounted to 3.1%), while the whole Eurozone economy shrank by 0.6% thus making it impossible to reach the dynamics of 2011 when exportation was going up by 9% on average in the largest countries of the region. In 2012 exportation increased by 4.2% in the Czech Republic, by 2% in Hungary and by 1.9% in Poland. Thus, the raise in 2012 was much lower than it was in 2011, when for the Czech Republic, Poland and Hungary it equalled respectively 9.5%, 8.0% and 6.3%.
The most recent news from the European economies is slightly more optimistic than...
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