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Economy of Czech Republic

The Czech Republic has the most developed industrialized economic system of the countries in Central and Eastern Europe. The country has quickly become the most stable and prosperous of the post-Communist states of Europe.

In 2014, the Czech GDP per capita at purchasing power parity was $29,925., and $19,563 at nominal value.

The principal industries are heavy and general machine-building, iron and steel production, metalworking, chemical production, electronics, transportation equipment, textiles, glass, brewing, china, ceramics, and pharmaceuticals. Its main agricultural products are sugar beets, fodder roots, potatoes, wheat, and hops.

In 2015, Czech Republic's economy grew by 4,2% and it's the fastest growing economy in the European Union. On 29 May 2015, it was announced that growth of the Czech economy has increased from calculated 3,9% to 4,2%.

In August 2015, Czech GDP growth was 4,4%, making the Czech economy the highest growing in Europe.

On 9 November 2015, unemployment in the Czech Republic was at 5.9%, the lowest number since February 2009.

Trade and Finance

Exports: $147.3 billion Export goods: machinery and transport equipment, raw materials, fuel, chemicals (2014)

Imports: $135.1 billion Import goods: machinery and transport equipment, raw materials and fuels, chemicals (2014)

Current Account balance: -$4,533,000 (2007)

Export partners:Germany 31.7%, Slovakia 9%, Poland 6%, France 5%, UK 4.9%, Austria 4.6% (2013)

Import partners: Germany 30.3%, Poland 8.1%, Slovakia 7.2%, China 5.8%, Netherlands 5.5%, Russia 5.1%, Austria 4.1% (2013)

Reserves: $59.15 billion (31 December 2014)

Foreign Direct Investment: $86.75 billion (2007)

Czech Investment Abroad: $6.058 billion (2007)

External debt: $116.1 billion (31 December 2014)

Value of Publicly Traded Shares: $48.6 billion (2006)

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Czech Republic"

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