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| Capital city: |
Prague |
| Surface area: |
79,000 sq km |
| Population: |
10.3 million |
| Official language(s): |
Czech |
| Head of State: |
H.E. President Mr Vaclav Klaus |
| Head of Government: |
Prime Minister Mr Mirek Topolanek |
| Australian exports to the Czech Republic: |
A$79 million |
| Australian imports from the Czech Republic: |
A$206 million |
| The Czech Republic's principal export destinations: |
Germany, Slovakia, Poland |
| The Czech Republic's principal import sources: |
Germany, China, Russian Federation | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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The Czech economy has been undergoing major privatisation and reconstruction since 1990. Currently the economy is stable and growing.
Key economic indicators and statistics for 2007:
- GDP - US$168.1 billion
- GDP per capita - US$16,372
- Real GDP growth - 5.6 per cent
- Inflation rate - 2.9 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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The political and social situation in the Czech Republic has been stable since it was established in 1993. The Czech Republic became a full member of NATO in 1999 and participates in supporting NATO countries in areas such Afghanistan.
The Czech Republic is a democratic country, founded after the former Czechoslovakia was divided into two separate countries in 1993.
The Parliament of the Czech Republic is bicameral consisting of the House of Representatives and the Senate with President Vaclav Klaus as its head. The strongest political parties are Civic Democratic Party, Social Democrats, Christian Democrats/People’s Party, Green Party, Communistic Party.
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Trade relations and statistics
The Czech Republic became a full member of the European Union in May 2004.
The country is a member of the Organisation for Economic Cooperation and Development (OECD) and European Bank for Reconstruction and Development (EBRD).
Due to its geographical position in the centre of Europe and its historical heritage, it has strong ties with other central European countries such as Slovakia, Poland and Hungary.
Under communist rule (1948–1989), the country was oriented East and was a satellite of the Soviet Union. After the revolution and change of political climate in 1989 it adopted a Western economic and political philosophy.
Although the Czech Republic is not a major trading partner, it offers potential as a destination for Australian investment. The Czechs are particularly interested in Australian investment in high technology and industrial services.
Major Australian exports to the Czech Republic (2006-07):
- Wool – A$68 million
- Measuring and controlling instruments – A$1 million
- Alcoholic beverages – A$1 million
- Medical instruments –A$1 million
Major Australian imports from the Czech Republic (2006-07):
- Wood, simply worked – A$16 million
- Passenger motor vehicles – A$12 million
- Office machines – A$11 million
- Railway vehicles – A$11 million
(Last updated: 08 Apr 2008)
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