Imports/Exports in the Czech Republic

Overview by Globlatrade.net:

The Czech Republic's economy is very open to foreign investment.  Trade represented more than 145% of the GDP during the 2007-2008 period.  Its membership to the European Union allowed the Czech Republic to enter into the common market and to consolidate its position as a low-cost production base. 80% of the country's trade is now conducted with the OECD countries (of which 80% is with EU countries).  A certain number of agreements made it easier to trade with neighboring countries (CEFTA).  The country has recorded a structural positive trade balance since it became a member of the European Union, a trend that should continue.

 

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 93,191118,169142,038105,048126,185
Exports of Goods (million USD) 94,929122,498146,799112,956132,971
Imports of Services (million USD) 11,82814,29417,75418,73124,020
Exports of Services (million USD) 13,86516,79921,69420,21122,298
Imports of Goods and Services (Annual % Change) 14.314.34.7-10.2-
Exports of Goods and Services (Annual % Change) 15.815.06.0-10.2-
Imports of Goods and Services (in % of GDP) 73.075.172.563.8-
Exports of Goods and Services (in % of GDP) 76.480.177.169.5-
Trade Balance (million USD) 2,8435,9136,3349,518-
Trade Balance (Including Service) (million USD) 4,8428,35311,219--
Foreign Trade (in % of GDP) 149.4155.1149.6133.3-

Source: WTO - World Trade Organization ; World Bank

 

Main Partner Countries

Main Customers
(% of Exports)
2009
Germany 32.3%
Slovakia 9.0%
Poland 5.8%
France 5.6%
United Kingdom 4.9%
Other partnersClose extended list 42.3%
Main Suppliers
(% of Imports)
2009
Germany 26.7%
China 10.1%
Poland 6.4%
Slovakia 5.4%
Russia 5.1%
Other partnersClose extended list 46.3%

Source: Comtrade

 

Main Products

Main Exports
(% of Exports)
2009
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 9.4%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 6.6%
Automatic data processing machines and units...Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 5.7%
Television receivers, whether or not incorporating...Television receivers, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus; video monitors and video projectors 2.3%
Electrical energyElectrical energy 1.6%
Other productsClose extended list 74.4%
Main Imports
(% of Imports)
2009
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 4.6%
Automatic data processing machines and units...Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 3.7%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 3.1%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 3.0%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.9%
Other productsClose extended list 82.7%

Source: Comtrade

 

Exchange Rate System

Exchange Rate Regime
Free conversion of the currency has been established by the Foreign Exchange Act in 1995.
Managed floating with no pre-determined path for the exchange rate.
Level of Currency Instability
Low
 
 
Monetary Indicators 20052006200720082009
Czech Crown (CZK) - Average Annual Exchange Rate For 1 USD 23.9622.6020.2917.0719.06

Source: World Bank

 
 

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