The Czech Republic

The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Maintaining an open investment climate has been a key element of the Czech Republic’s transition from a communist, centrally planned economy to a functioning market economy. As a member of the European Union, with an advantageous location in the center of Europe, a relatively low cost structure, and a well-qualified labor force, the Czech Republic is an attractive destination for foreign investment. Prior to its EU accession in 2004, the Czech government harmonized its laws and regulations with those of the European Union. The small, open, export-driven Czech economy grew by over 6% annually from 2005-2007 and by 2.5% in 2008. The conservative Czech financial system has remained relatively healthy throughout 2009. Nevertheless, the real economy contracted by 4.1% in 2009, mainly due to a significant drop in external demand as the Czech Republic’s main export markets fell into recession. GDP is expected to grow by 2.4% in 2010, driven largely by a rebound in external demand, particularly from Gremany.

$261.5 billion (2010 est.)

$256.9 billion (2009 est.)

$267.9 billion (2008 est.)

$195.2 billion (2010 est.)

1.8% (2010 est.)

-4.1% (2009 est.)

2.5% (2008 est.)

$25,600 (2010 est.)

$25,200 (2009 est.)

$26,200 (2008 est.)

5.37 million (2010 est.)

9.3% (2010 est.)

8.1% (2009 est.)

NA%

26 (2005)

25.4 (1996)

22.5% of GDP (2010 est.)

40% of GDP (2010 est.)

34% of GDP (2009 est.)

1.6% (2010 est.)

1% (2009 est.)

1% (31 December 2009)

2.25% (31 December 2008)

5.99% (31 December 2009 est.)

6.25% (31 December 2008 est.)

$96.82 billion (31 December 2010 est)

$92.95 billion (31 December 2009 est)

$138.6 billion (31 December 2010 est.)

$139 billion (31 December 2009 est.)

$119.5 billion (31 December 2010 est.)

$118.8 billion (31 December 2009 est.)

$52.69 billion (31 December 2009)

$48.85 billion (31 December 2008)

$73.42 billion (31 December 2007)

wheat, potatoes, sugar beets, hops, fruit; pigs, poultry

motor vehicles, metallurgy, machinery and equipment, glass, armaments

3% (2010 est.)

82.72 billion kWh (2007 est.)

61.65 billion kWh (2007 est.)

19.99 billion kWh (2008 est.)

8.52 billion kWh (2008 est.)

10,970 bbl/day (2009 est.)

207,600 bbl/day (2009 est.)

29,670 bbl/day (2008 est.)

219,900 bbl/day (2008 est.)

15 million bbl (1 January 2010 est.)

176 million cu m (2009 est.)

8.182 billion cu m (2009 est.)

1.111 billion cu m (2009 est.)

9.683 billion cu m (2009 est.)

3.964 billion cu m (1 January 2010 est.)

-$5.956 billion (2010 est.)

-$2.146 billion (2009 est.)

$116.5 billion (2010 est.)

$112.6 billion (2009 est.)

machinery and transport equipment, raw materials and fuel, chemicals

Germany 32.25%, Slovakia 9.02%, Poland 5.8%, France 5.62%, UK 4.93%, Austria 4.71%, Italy 4.38% (2009)

$109.2 billion (2010 est.)

$103.1 billion (2009 est.)

machinery and transport equipment, raw materials and fuels, chemicals

Germany 30.67%, Poland 6.97%, Slovakia 6.6%, Netherlands 5.99%, China 5.7%, Austria 5.26%, Russia 4.93%, Italy 3.98% (2009)

$38.67 billion (31 December 2010 est.)

$41.2 billion (31 December 2009 est.)

$86.79 billion (31 December 2010 est.)

$82.42 billion (31 December 2009 est.)

$126.7 billion (31 December 2010 est.)

$121.9 billion (31 December 2009 est.)

$15.85 billion (31 December 2010 est.)

$14.35 billion (31 December 2009 est.)

koruny (CZK) per US dollar - 19.737 (2010), 19.063 (2009), 17.064 (2008), 20.53 (2007), 22.596 (2006)