Trading Partner Portal: Czech Republic

Overview

Trade Overview

Flags of USA, Country, California

The Czech Republic is a landlocked Central European country. It is classified by the World Bank as a high income country with a population of 10.53 million people and a gross domestic product (GDP) of $205.3 billion. The Czech Republic has a stable market economy that benefits from trade relationships affirmed through their membership in the European Union (EU). The Czech Republic’s single largest industry for their economy is the auto industry. In 2015, they produced over one million cars, and 80% of them were exported, bolstering their economy. World Bank, CIA

Exports from the United States to the Czech Republic have declined since 2014. In 2016, the US exported $1.9 billion of goods to the Czech Republic. 24.1% of those goods were computer and electronic products, with a total of $466 million, down from $606 million in 2015. The following top exports were non-electrical machinery, valuing $343.8 million, and transportation equipment, with a total of $308 million. Despite the decline in exports from the US to the Czech Republic, the imports from the Czech Republic to the US have remained steady. The United States imported $4.4 billion of goods from the Czech Republic in 2016. The top import was transportation equipment, due to the Czech Republic’s healthy auto industry. Transportation equipment imports accounted for 18.6% of total imports from the Czech Republic to the US and had a value of nearly $817 million. Computer and electronic products were another leading export, followed by non-electrical machinery. US Department of Commerce

ca-exports-to-czech-republicThe US and the Czech Republic also have flows of investment across their borders. In 2015, the US had $5.8 billion invested into the Czech Republic, and the Czech Republic had $107 million invested in the United States. BEA

Czech Republic- California Trade

California is the second largest exporter of goods to the Czech Republic in the United States, only second to Texas. In 2016, California exported $166.58 million of goods to the Czech Republic, significantly less than the $221 million worth of goods in 2015. Computer and electronic products composed 35.1% of goods exported from California to the Czech Republic and had a value of approximately $58 million. The second leading export from California was transportation equipment with a total of $34 million. In the US, California is also the sixth largest importer of Czech goods and products. California imported $294 million worth of goods from the Czech Republic in 2016, just over a third of which were computer and electronic products, valuing $103 million. Other leading imports from the Czech Republic into California were plastics and rubber products and non-electrical machinery. US Department of Commerce

Trade Agreements

Trade Agreements and Issues

Transatlantic Trade and Investment Partnership (TTIP)

The Czech Republic is one of the nations that is currently involved in negotiations for the Transatlantic Trade and Investment Partnership (TTIP) with the rest of the European Union and the United States. The United States and the European Union have a strong bilateral trade relationship totaling $698.7 billion in 2015. A free trade agreement, such as TTIP, desires to strengthen that relationship by eliminating tariffs, aligning compatible regulations to open trade, and furthering trade in the service sector.

Transatlantic Trade and Investment Partnership

USTR Transatlantic Trade and Investment Partnership