CEE Trade & Supply Chain: Recovering through trade

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21 April 2010

As Central and Eastern Europe stabilises following the aftermath of the crisis Dickon Harris examines how trade finance solutions are helping speed a recovery.

Whichever range of statistics one uses Central and Eastern Europe (CEE) was badly hit by the global financial crisis. Last year saw certain CEE economies, such as Lithuania, contract by up to 18.5%. All of the economies in the region, except for the notable exception of Poland, went into recession. During the crisis crucial import demand from the rest of EU dropped off a cliff and many countries including Hungary, Ukraine, Latvia, Serbia and Romania required additional IMF funding.

But things are improving. Export orders are now up to two-year highs in the Czech Republic and Poland and manufacturing confidence among the 16 nations that use the euro has risen to its highest levels since November 2006. CEE countries are recovering at vastly different rates, but bankers claim that the region as a whole is stabilising and guardedly admit that the worst of the crisis, for the moment, appears...

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