Macroeconomic Data 2007
Population: 10,287,189
GDP growth: 6.5%
Unemployment: 5.3% (Prague 1%)
Inflation: 2.8%
Export volume: 98,644 Million €
Import volume: 95,200 Million €
Czech Republic: Economic Figures
The Czech Republic lies at the heart of Europe, sharing its borders with Germany, Poland, Slovakia and Austria. Comprised of three historic territories – Bohemia, Moravia and Silesia (the latter of which it shares with Poland) – the country's modern geopolitical structure is made up of 14 recently formed regions and 77 districts. The capital – Prague – is the most developed region in the Czech Republic, and is among the most developed regions within the EU.
The greatest asset towards the GDP creation is in the field of industrial production, predominantly in production of machines, electric devices and transport vehicles. In 2008 the automotive industry will create more than 25% of total Czech production and sections of the automotive industry will reach 23% of export, with more than 155,000 people employed.
Another significant industry is the production of electrical devices, which has experienced rapid growth in recent years to reach its current level of 16%. This fact, together with some other growing industries such as fine mechanics and the food industry, proves that Czech production is losing its »heavy industry flavor«.
This economic growth is driving increasing exports and demand for personnel. The unemployment rate has fallen to 5.3% in 2007. The Czech workforce consists of approx. 5.7 million people: 4.9 million employees and 800,000 entrepreneurs (78% without employees).
In 2007 the export of the Czech Republic was largely oriented towards EU countries (85%). Germany (31% of export), Slovakia (14%), France (12%), Great Britain (5%), Italy (5%) and Austria (5%) belong to the most important business partners of the Czech Republic.
