Czech Republic

The Czech Republic is a stable and prosperous market economy that is closely integrated with the EU, especially since the country’s EU accession in 2004. The auto industry is the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported.
While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell sharply in 2009. The economy slowly recovered in the second half of 2009 and registered weak growth in the next two years. In 2012 and 2013, however, the economy fell into a recession again, due both to a slump in external demand in the EU and to the government’s austerity measures, returning to weak growth in 2014, and stronger growth in 2015.
Foreign and domestic businesses alike voice concerns about corruption, especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.
$332.5 billion (2015 est.)
$319 billion (2014 est.)
$312.8 billion (2013 est.)
note: data are in 2015 US dollars
$181.9 billion (2015 est.)
4.2% (2015 est.)
2% (2014 est.)
-0.5% (2013 est.)
$31,600 (2015 est.)
$30,300 (2014 est.)
$29,700 (2013 est.)
note: data are in 2015 US dollars
27.5% of GDP (2015 est.)
25.4% of GDP (2014 est.)
24.2% of GDP (2013 est.)
household consumption: 47.7%
government consumption: 19%
investment in fixed capital: 25.1%
investment in inventories: -0.1%
exports of goods and services: 85.5%
imports of goods and services: -77.2% (2015 est.)
agriculture: 2.7%
industry: 38.2%
services: 59.2% (2015 est.)
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry
motor vehicles, metallurgy, machinery and equipment, glass, armaments
5% (2015 est.)
5.479 million (2015 est.)
agriculture: 2.6%
industry: 37.4%
services: 60% (2012)
6.5% (2015 est.)
7.7% (2014 est.)
8.6% (2012 est.)
lowest 10%: 1.5%
highest 10%: 29.1% (2012 est.)
24.9 (2012)
25.4 (1996)
revenues: $72.21 billion
expenditures: $75.56 billion (2015 est.)
39.6% of GDP (2015 est.)
-1.8% of GDP (2015 est.)
41.4% of GDP (2015 est.)
42.1% of GDP (2014 est.)
calendar year
0.3% (2015 est.)
0.4% (2014 est.)
0.05% (31 December 2013)
0.05% (31 December 2012)
note: this is the two-week repo, the main rate CNB uses
4.5% (31 December 2015 est.)
4.64% (31 December 2014 est.)
$126.1 billion (31 December 2015 est.)
$122.8 billion (31 December 2014 est.)
$152.9 billion (31 December 2014 est.)
$155.7 billion (31 December 2013 est.)
$148.5 billion (31 December 2015 est.)
$137.1 billion (31 December 2014 est.)
$54.92 billion (30 December 3013 est.)
$59.88 billion (28 December 2012)
$53.2 billion (30 December 2011 est.)
$1.648 billion (2015 est.)
$366 million (2014 est.)
$133.8 billion (2015 est.)
$110.5 billion (2014 est.)
machinery and transport equipment, raw materials, fuel, chemicals
Germany 32.4%, Slovakia 8.4%, Poland 6%, UK 5.1%, France 5.1%, Austria 4.4% (2014)
$124 billion (2015 est.)
$101.9 billion (2014 est.)
machinery and transport equipment, raw materials and fuels, chemicals
Germany 30.2%, Poland 8.5%, Slovakia 6.8%, China 6.2%, Netherlands 5.7%, Austria 4.2% (2014)
$73.5 billion (31 December 2015 est.)
$54.49 billion (31 December 2014 est.)
$125.1 billion (31 December 2014 est.)
$137.4 billion (31 December 2013 est.)
$147.6 billion (31 December 2015 est.)
$142.6 billion (31 December 2014 est.)
$41.14 billion (31 December 2015 est.)
$40.14 billion (31 December 2014 est.)
koruny (CZK) per US dollar –
24.19 (2015 est.)
20.758 (2014 est.)
20.758 (2013 est.)
19.59 (2012 est.)17.696 (2011 est.)

  2014 - Sales (miliion €)
1Škoda Auto a.s.10794.948
2ČEZ a.s.7243.685
3Agrofert a.s.6014.658
4RWE Supply & Trading CZ a.s.5268.225
5Unipetrol a.s.4480.337
6Foxconn CZ s.r.o.4312.069
7Energetický a Průmyslový Holding a.s.3638.973
8Čepro a.s.3358.76
9Moravia Steel a.s.2145.14
10Eni Česká Republika s.r.o.1832.63
11O2 Czech Republic a.s.1611.72
12Robert Bosch s r.o.1563.93
13Toyota Peugeot Citroën Automobile Czech s.r.o.1416.541
14Ahold Czech Republic a.s.1392.55
15Třinecké Železárny a.s.1383.17
16ArcelorMittal Ostrava a.s.1379.019
17České Dráhy a.s.1324.924
18Siemens s.r.o.1258.046
19Slovnaft Česká Republika s r.o.1129.167
20Metrostav a.s.1101.12
21Makro Cash & Carry ČR s.r.o.1009.824
22Veolia Česká Republika a.s.977.379
23Geco a.s.923.82
24OMV Česka Republika s.r.o.837.28
25Shell Czech Republic a.s.820.582
26Panasonic AVC Networks Czech, s.r.o.801.7
27Bosch Diesel s.r.o.781.671
28T-Mobile Czech Republic a.s.757.266
29Metalinex a.s.720.05
30OKD a.s.693.654

Sources: CIA Fact Book, www.czechtop100.cz

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