República Txeca: Visió econòmica i política
Czech Republic’s economy is very open to the outside world: according to the World Bank, external trade accounts for 143% of the GDP. The automobile industry is the backbone of trade, both for imports and exports, vehicles and spare part manufacturing accounting for nearly one-fifth of Czech exports, followed by computers (6.6%), and telephones (5%). Imports are led by computers (5.3%), parts and accessories for tractors (5.1%), telephones (5.1%), and motor cars (2.3% - data Comtrade).
As a medium-sized, open, export-driven economy, the Czech market is strongly dependent on foreign demand, especially from EU partners. In 2021, Germany was Czech Republic's major trading partner, receiving 32.4% of its exports and supplying 22.4% of its imports. Slovakia was the second top destination for Czech exports (8.1%), followed by Poland (6.7%), France (4.6%) and Austria (4.5%). China (16.7%) was the second-largest supplier of goods and services to the Czech Republic after Germany, followed by Poland (8.2%), Slovakia (4.4%) and Italy (4.2% – data Comtrade).
Czechia recorded a structurally positive trade balance since entering the EU. In 2021, the country’s trade balance was estimated to be positive by 3% of GDP by the World Bank (from 6.7% one year earlier). In the same year, exports of goods totalled USD 226.4 billion (+17.9% year-on-year) whereas imports stood at USD 211.5 billion (+24% y-o-y). Concerning trade in services, exports increased to USD 29.7 billion against USD 24.6 billion of imports (+14% and +14.5%, respectively). According to the latest figures from the Czech Statistical Office, in the first three quarters of 2022, goods exports increased by 13.4% year-on-year, with imports rising at a faster pace (+19.2% y-o-y). Overall, the trade balance in goods was negative by CZK 65.954 million (around USD 3.1 billion).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 163,352 | 184,659 | 179,039 | 170,584 | 211,508 |
Exports of Goods (million USD) | 182,142 | 202,238 | 199,128 | 192,057 | 226,407 |
Imports of Services (million USD) | 21,636 | 25,045 | 25,745 | 21,500 | 24,624 |
Exports of Services (million USD) | 26,875 | 30,584 | 30,311 | 26,063 | 29,706 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 150.5 | 147.9 | 141.8 | 133.1 | 142.5 |
Trade Balance (million USD) | 10,900 | 9,379 | 10,482 | 12,266 | 3,454 |
Trade Balance (Including Service) (million USD) | 16,255 | 14,919 | 15,116 | 16,709 | 8,542 |
Imports of Goods and Services (Annual % Change) | 6.3 | 5.8 | 1.5 | -8.2 | 13.3 |
Exports of Goods and Services (Annual % Change) | 7.2 | 3.7 | 1.5 | -8.0 | 6.9 |
Imports of Goods and Services (in % of GDP) | 71.5 | 71.0 | 67.9 | 63.2 | 69.8 |
Exports of Goods and Services (in % of GDP) | 79.0 | 76.9 | 73.9 | 69.9 | 72.7 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 5.6 | 5.8 | 6.4 | 2.9 | 2.8 |
Volume of imports of goods and services (Annual % change) | 5.7 | 2.8 | 5.2 | 2.6 | 2.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
Germany | 32.4% |
Slovakia | 8.1% |
Poland | 6.7% |
France | 4.6% |
Austria | 4.5% |
Italy | 3.9% |
United Kingdom | 3.8% |
Netherlands | 3.7% |
Hungary | 3.3% |
Spain | 2.5% |
United States | 2.4% |
Belgium | 2.2% |
Russia | 1.9% |
Sweden | 1.7% |
Romania | 1.5% |
Switzerland | 1.5% |
China | 1.3% |
Türkiye | 1.0% |
Denmark | 1.0% |
Ukraine | 0.7% |
See More Countries | 43.7% |
Main Suppliers (% of Imports) |
2021 |
Germany | 22.1% |
China | 16.5% |
Poland | 8.1% |
Slovakia | 4.4% |
Italy | 4.2% |
Russia | 3.3% |
France | 2.9% |
Austria | 2.8% |
Netherlands | 2.6% |
Hungary | 2.5% |
United States | 2.4% |
South Korea | 2.4% |
Japan | 2.0% |
Spain | 1.8% |
Belgium | 1.7% |
United Kingdom | 1.5% |
Romania | 1.3% |
Türkiye | 1.1% |
Malaysia | 1.1% |
Switzerland | 1.0% |
See More Countries | 44.6% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
31.8 bn USD of services exported in 2018 | |
32.96% | |
32.70% | |
Personal travelPersonal travel | 25.18% |
Business travelBusiness travel | 7.52% |
26.81% | |
2.19% | |
2.18% | |
1.73% | |
1.25% | |
0.19% |
29.3 bn USD of services imported in 2018 | |
30.29% | |
28.49% | |
Personal travelPersonal travel | 23.36% |
Business travelBusiness travel | 5.13% |
28.16% | |
7.12% | |
3.80% | |
1.40% | |
0.75% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: April 2023
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