Tool, die and mould making in Poland and the Czech Republic

Related Vendors

The Czech economy and the industry

In terms of the gross domestic product (GDP), the Czech Republic has a GDP per capita of €17,500 and is the 53rd-largest economy in the world. Scaled on purchasing power, the Czech GDP approaches the average of the EU, but the positive progress has tapered off in the last few years. The Czech economy could initially not recover after the crisis of 2008-2009 and has only grown moderately with about 0.6% per annum in the last four years. However, the prospects for 2015 and 2016 are positive. Economic growth of up to 2.6% is predicted. The Czech Republic exported goods worth €143.5bn in 2014. The three most important exports are automobiles, machinery and chemicals. Germany is by far the most important trade partner for the Czech Republic and constitutes 30% of foreign trade. Poland, the second-most important trade partner, achieves only 8%. The Czech Republic is the 11th-most important trade partner to Germany and plays a bigger role than Russia. The Czech Republic is also a popular country for German direct investment: Since 1993, German companies have invested about €19.1bn. Škoda Auto, a brand of the Volkswagen Company, is among the largest companies of the country and makes up a major part of all exports. The level of wages was close to €16,948 in 2013 and therefore below the average of all industrial nations. The real wage increase has stagnated in the last few years. An employee works on average for 1,799 hours every year, which is 3% above the average of all other industrial nations. The rate of unemployment is 7.2%, which is significantly below the average of the European Union (9.6% in 2015).

(ID:43956744)

Markets

Tool, die and mould making in Poland and the Czech Republic

The Czech economy and the industry