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 10.58 million people and a gross domestic product (GDP) of $215.7 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 after declining between 2014 and 2016, have increased over the past couple of years. In 2018, the US exported $3 billion of goods to the Czech Republic, up from $2.27 billion in 2017. 29.8% of those goods were computer and electronic products, with a total of $895 million. The following top exports were transportation equipment, with a total of $636 million and non-electrical machinery, valuing $486.7 million. The United States imported $5 billion of goods from the Czech Republic in 2018. For the first time in recent years, the top import was computer and electronic products, which made up 15.9% of the total. The second top import was transportation equipment, due to the Czech Republic’s healthy auto industry, which made up 15.2% of the total. These were followed closely by non-electrical machinery which made up 14.1% of total imports from the Czech Republic to the US and had a value of nearly $704 million. US Department of Commerce

ca-exports-to-czech-republicThe US and the Czech Republic also have flows of investment across their borders. In 2017, the US had $5.4 billion invested into the Czech Republic, and in 2016 the Czech Republic had $112 million invested in the United States. BEA

Czech Republic- California Trade

California is one of the largest state exporter of goods to the Czech Republic in the United States, only second to Texas. In 2018, California exported $423 million of goods to the Czech Republic, an increase of over $100 million from recent years. Computer and electronic products composed 48.7% of goods exported from California to the Czech Republic and had a value of approximately $206 million. The second leading export from California was transportation equipment with a total of $91 million. In the US, California is also the fourth largest importer of Czech goods and products. California imported $377 million worth of goods from the Czech Republic in 2017, just over 40% of which were computer and electronic products, valuing $155 million. Other leading imports from the Czech Republic into California were non-electrical machinery, plastics and rubber products, and transportation equipment. 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