Czech Republic
About Czech Republic
Background:
Following the First World War, the closely related Czechs and Slovaks of the former Austro-Hungarian Empire merged to form Czechoslovakia. During the interwar years, the new country's leaders were frequently preoccupied with meeting the demands of other ethnic minorities within the republic, most notably the Sudeten Germans and the Ruthenians (Ukrainians). After World War II, a truncated Czechoslovakia fell within the Soviet sphere of influence. In 1968, an invasion by Warsaw Pact troops ended the efforts of the country's leaders to liberalize Communist party rule and create "socialism with a human face." Anti-Soviet demonstrations the following year ushered in a period of harsh repression. With the collapse of Soviet authority in 1989, Czechoslovakia regained its freedom through a peaceful "Velvet Revolution." On 1 January 1993, the country underwent a "velvet divorce" into its two national components, the Czech Republic and Slovakia. The Czech Republic joined NATO in 1999 and the European Union in 2004.
PEOPLE
Population:
10,211,904 (July 2009 est.)
country comparison to the world: 80
Nationality:
noun: Czech(s)
adjective: Czech
Ethnic groups:
Czech 90.4%, Moravian 3.7%, Slovak 1.9%, other 4% (2001 census)
Religions:
Roman Catholic 26.8%, Protestant 2.1%, other 3.3%, unspecified 8.8%, unaffiliated 59% (2001 census)
Languages:
Czech 94.9%, Slovak 2%, other 2.3%, unidentified 0.8% (2001 census)
GOVERNMENT
Country name:
conventional long form: Czech Republic
conventional short form: Czech Republic
local long form: Ceska Republika
local short form: Cesko
Government type:
parliamentary democracy
Capital:
name: Prague
geographic coordinates: 50 05 N, 14 28 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Flag description:
two equal horizontal bands of white (top) and red with a blue isosceles triangle based on the hoist side
note: uses the pan-Slavic colors and is identical to the flag of the former Czechoslovakia
ECONOMY
Economy - overview:
The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Maintaining an open investment climate has been a key element of the Czech Republic's transition from a communist, centrally planned economy to a functioning market economy. As a member of the European Union, with an advantageous location in the center of Europe, a relatively low cost structure, and a well-qualified labor force, the Czech Republic is an attractive destination for foreign investment. Prior to its EU accession in 2004, the Czech government harmonized its laws and regulations with those of the European Union. The small, open, export-driven Czech economy grew by over 6% annually from 2005-2007 and strong growth continued throughout the first three quarters of 2008. Despite the global financial crisis, the conservative Czech financial system has remained relatively healthy. The rate of Czech economic growth, however, fell sharply in the fourth quarter of 2008, mainly due to a significant drop in demand for Czech exports in Western Europe. The Czech economy contracted more than 4% in 2009.
GDP (purchasing power parity):
$256.7 billion (2009 est.)
country comparison to the world: 43
$267.9 billion (2008 est.)
$261.1 billion (2007 est.)
note: data are in 2009 US dollars
GDP - per capita (PPP):
$25,100 (2009 est.)
country comparison to the world: 52
$26,200 (2008 est.)
$25,500 (2007 est.)
note: data are in 2009 US dollars
Budget:
revenues: $76.71 billion
expenditures: $85.65 billion (2009 est.)
Inflation rate (consumer prices):
1.1% (2009 est.)
country comparison to the world: 44
6.3% (2008 est.)
Industries:
motor vehicles, metallurgy, machinery and equipment, glass, armaments
Exports:
$106.4 billion (2009 est.)
country comparison to the world: 33
$145.7 billion (2008 est.)
Imports:
$99.97 billion (2009 est.)
country comparison to the world: 30
$139.4 billion (2008 est.)
Exchange rates:
koruny (CZK) per US dollar - 19.373 (2009), 17.064 (2008), 20.53 (2007), 22.596 (2006), 23.957 (2005)
