My Resources
Czech Republic
Balance of Payments
Current accounts deficits reached 3.8% of Gross Domestic Products. This is due in part to goods and surplus decline from year to year. The income deficits where influenced by a drop in income and expenditures stagnation. The net income surplus is a result of the European budget increase that happens yearly. The inflow of funds on the financial account is due to purchases of cooperate and government bonds by foreign investors. There was a recovery in the flow of direct investments. The international reserves of the Czech National Bank increase due to transactions performed by clients. International investment position deficit and external debt of Czech Republic increased yearly. (Reference Appendix A.)
Trading Relationships
Visegrad Group is a trading partnership who countries include Czech Republic, Poland, Hungary, and Slovakia. This has been in place since the 1990s to increase its exports and build trade alliances. Czech Republic is also the first former communist country to be admitted in to the EU (European Union). The countries main trading partners are Germany, Slovakia, Poland, Hungary, Russia, Switzerland, Bulgaria, and other former USSR republics.
Exports
In the vehicle sector Czech Republic accounts for 19 percent of exports. The country is also well recognized as suppliers for buses, trams, and trolley buses. In the electrical equipment and electronics Czech Republic is the leader in Eastern Europe in manufacturing and exporting computers. There is a cluster in the country for refined specialized products ranging from semiconductors to phone handsets. Other main imports include agricultural products (wheat, potatoes sugar beets, hops, fruits), textiles, machinery chemicals, raw material and fuel, iron, steel, ceramic, glass, beers and armaments with the United States being its highest buyer. (Reference Appendix B.)
Imports
Main imports includes: machinery, electric equipment, and electronics,
Balance of Payments
Current accounts deficits reached 3.8% of Gross Domestic Products. This is due in part to goods and surplus decline from year to year. The income deficits where influenced by a drop in income and expenditures stagnation. The net income surplus is a result of the European budget increase that happens yearly. The inflow of funds on the financial account is due to purchases of cooperate and government bonds by foreign investors. There was a recovery in the flow of direct investments. The international reserves of the Czech National Bank increase due to transactions performed by clients. International investment position deficit and external debt of Czech Republic increased yearly. (Reference Appendix A.)
Trading Relationships
Visegrad Group is a trading partnership who countries include Czech Republic, Poland, Hungary, and Slovakia. This has been in place since the 1990s to increase its exports and build trade alliances. Czech Republic is also the first former communist country to be admitted in to the EU (European Union). The countries main trading partners are Germany, Slovakia, Poland, Hungary, Russia, Switzerland, Bulgaria, and other former USSR republics.
Exports
In the vehicle sector Czech Republic accounts for 19 percent of exports. The country is also well recognized as suppliers for buses, trams, and trolley buses. In the electrical equipment and electronics Czech Republic is the leader in Eastern Europe in manufacturing and exporting computers. There is a cluster in the country for refined specialized products ranging from semiconductors to phone handsets. Other main imports include agricultural products (wheat, potatoes sugar beets, hops, fruits), textiles, machinery chemicals, raw material and fuel, iron, steel, ceramic, glass, beers and armaments with the United States being its highest buyer. (Reference Appendix B.)
Imports
Main imports includes: machinery, electric equipment, and electronics,
Bibliography: Brooks, Stephen. NatioalGeogaphic Traveler: Prague & the Czech Republic. Washington D.C.: National Geographic Society, 2004. Dunford, Lisa. Czech & Slovak Republics (Country Guide). 5th ed. London: Lonely Planet, 2007. Otfinoski, Steven. The Czech Republic (Nations in Transition). 2ed. New York: Facts on File, July 2004. Rosenleaf Ritter, Nicole. Czech Republic-Culture Smart! A Quick Guide to Customs and Etiquette. London: Kuperard, 2006. Steves, Rick and Vihan, Honza. Rick Steves’ Pargue and the Czech Republic. 4th ed. Emeyville. CA: Avaion Travel Publishing, 2008. BBC Country Profile Czech Republic.http://news.bbc.co.uk/2/hi/europe/county_profiles/1108489.stm CIA World Fact Book. www.cia.gov/cia.gov/publications/factbook/index.html Czech Reblic.www.czech.cz Infoplease. www.infoplease.com/ipa/A0107456.html U.S Department of State. Background Note: Czech Republic. www.state.gov/r/pa/ei/bgn/3231.htm U.S. Department of State. Czech Republic.www.state.gov/g/drl/rls/irf/2005/51548.htm