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Country name:

conventional long form: Czech Republic
conventional short form: Czech Republic
local long form: Ceska Republika
local short form: Ceska Republika

 

Capital:

Prague. Population: 1.2 million (2007).

 

Description:
The Czech Republic is a landlocked country situated in central Europe, sharing frontiers with Germany in the west, Poland in the north, the Slovak Republic in the east and Austria in the south. Covering only about one-third of the area of the United Kingdom, the country is hilly and picturesque.

The western two-thirds of the country is known as Bohemia, and consists of a vast river basin fringed by hills and mountains. The Czech Republic's longest river, the Labe, rises in the Krkonoše Mountains in the northeast, on the border with Poland, and flows south, then west, then north into Germany where it becomes the River Elbe. These mountains are also home to the country's highest summit, Sněžka (1,602m/5,262ft).
 

 

Location:

Central Europe, southeast of Germany

 

Area:

78,866 sq km (30,450 sq miles).

 

Population:

10.2 million (2007 estimate).

 

Languages:

The official language is Czech. English and German are also spoken

 

Climate:

The temperate climate means that winters are cold and summers hot. Spring and summer have the highest rainfall.

Economy - overview:

Years of stringent state control and public ownership during Soviet times took its toll on the economy of the former Czechoslovakia, and caused the economy of the new Czech Republic to flounder and fall into recession in 1998. Less than a decade later the country is reaping the benefits of an aggressive reform policy, which included a programme of mass privatisation (the majority of economic input is now in private hands) and a major overhaul of the country's financial system.

The Czech Republic's membership of the IMF, World Bank, the European Bank for Reconstruction and Development and, of course, the European Union, has given the economy a further boost, with the country strengthening trading relationships within the EU. No longer does it rely on trade with Russia - instead Germany is its biggest export and import partner.

The last five years have also seen significant foreign investment in the Czech Republic. As a result GDP has recorded healthy annual growth in recent years: 6.4% in 2006 and 6.6% in 2007. Unemployment stands at 4.7% (2008), and inflation 7.1% (2008).

Economy:

Years of stringent state control and public ownership during Soviet times took its toll on the economy of the former Czechoslovakia, and caused the economy of the new Czech Republic to flounder and fall into recession in 1998. Less than a decade later the country is reaping the benefits of an aggressive reform policy, which included a programme of mass privatisation (the majority of economic input is now in private hands) and a major overhaul of the country's financial system.

The Czech Republic's membership of the IMF, World Bank, the European Bank for Reconstruction and Development and, of course, the European Union, has given the economy a further boost, with the country strengthening trading relationships within the EU. No longer does it rely on trade with Russia - instead Germany is its biggest export and import partner.

The last five years have also seen significant foreign investment in the Czech Republic. As a result GDP has recorded healthy annual growth in recent years: 6.4% in 2006 and 6.6% in 2007. Unemployment stands at 4.7% (2008), and inflation 7.1% (2008).
 

 

Industries:

metallurgy, machinery and equipment, motor vehicles, glass, armaments

 

Exports:

Machinery and transport equipment, chemicals and raw materials.

Imports:

Machinery and transport equipment, raw materials, fuels and chemicals.

• Main trade partners: Germany, Netherlands, Slovak Republic, Poland and Russia.
 

Exchange rates:

Koruna (CZK; symbol Kč) or Crown = 100 haler. Notes are in denominations of 5,000, 2,000, 1,000, 500, 200, 100 and 50Kč. Coins are in denominations of 50, 20, 10, 5, 2 and 1Kč, and 50 haler
http://www.worldtravelguide.net/country/72/money/Europe/Czech-Republic.html

Daily Exchange Rates

GDP :

US$230 billion (2007).
 

 

 

Useful links:

 

 

  Copyright By :  Kish Trade Promotion Center  2002