Economy of the Czech Republic

related topics
{company, market, business}
{country, population, people}
{government, party, election}
{rate, high, increase}
{food, make, wine}
{album, band, music}
{land, century, early}
{disease, patient, cell}

Of the emerging democracies in central and eastern Europe, the Czech Republic has one of the most developed industrialized economies. It is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. GDP per capita at purchasing power parity was $26,800 in 2008, which is 82% of the EU average.

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 sugarbeets, fodder roots, potatoes, wheat, and hops.

Contents

History

Its strong industrial tradition dates to the 19th century, when Bohemia and Moravia were the economic heartland of the Austro-Hungarian Empire. Today, this heritage is both an asset and a liability. The Czech Republic has a well-educated population and a well-developed infrastructure, but its industrial plants and much of its industrial equipment are obsolete.

According to the Stalinist development policy of planned interdependence, all the economies of the socialist countries were linked tightly with that of the Soviet Union. With the disintegration of the communist economic alliance in 1991, Czech manufacturers lost their traditional markets among former communist countries to the east.

Full article ▸

related documents
Economy of Malawi
Economy of the Netherlands
Economy of Albania
Economy of the Democratic Republic of the Congo
Tertiary sector of the economy
Economy of Libya
British Aerospace
Economy of Nicaragua
Economy of Cambodia
Economy of Slovenia
Economy of Luxembourg
Economy of the United Arab Emirates
Special Economic Zone
Railway Mania
Economy of Liberia
Industry
Monopolistic competition
Railroad Revitalization and Regulatory Reform Act
Economy of Italy
NASDAQ
Toshiba
Economy of Trinidad and Tobago
New Albertsons Inc.
Alstom
Derivative (finance)
ISO 4217
Cantor Fitzgerald
International Fund for Agricultural Development
Stock market bubble
Economy of Botswana