CzechiaKapitel
The Czech Republic is one of the most advanced economies in Central and Eastern Europe, supported by a strong industrial base, a skilled workforce, and a business-friendly environment that encourages both domestic and foreign investment.
As one of the European Union’s most manufacturing-intensive economies, it stands out as a leading exporter, with the automotive industry playing a pivotal role in its economic landscape, though increasingly shaped by the transition to electric vehicles.
While its openness to global markets enhances trade opportunities, it also exposes the country to vulnerabilities from fluctuations in international demand.
Source: Coface
Kennzahlen
- Fläche
- 78,867 km2
- Bevölkerung
- 10,882,164 (2024)
- Regierungsform
- parliamentary republic
- Sprachen
- Czech (official) 88.4%, Slovak 1.5%, other 2.6%, unspecified 7.2% (2021 est.)
- BIP
- $345.04 billion (2024)
- Wachstumsrate
- 1.1% (2024)
- HDI
- 29
- Hauptstadt
- Prague
Makroökonomische Indikatoren
Czechia’s economy resumed its expansion in 2024 with real GDP growth at 1.1% and forecast to accelerate to 1.9% in 2025 and 2.1% in 2026. Growth is expected to be driven primarily by domestic demand, while the external environment remains challenging. The resumption of growth in real wages helped households’ consumption re-emerge as the main driver of economic activity, despite still depressed consumer confidence. With ongoing trade wars and an economic slowdown expected for Czechia’s main trading partners, net exports are forecast to contribute negatively to growth. Headline inflation is projected at 2.2% in 2025, with services contributing the most and negative energy inflation offsetting the growth in food prices. A forecasted broad-based decline in inflationary pressures leads to headline inflation dropping to 2.0% in 2026. After the phase-out of energy-related measures and the government’s public finance consolidation package in 2024, public finances are set to stay in deficit at around 2.3% in 2025 and 2.2% in 2026.
Source: European Commission – Economic forecast for Czechia
IMF Statistics:
| Subject descriptor | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
2.847 |
-0.055 |
1.112 |
1.620 |
1.792 |
|
Gross domestic product, current prices U.S. dollars (Billions) |
301.831 |
343.207 |
344.931 |
360.244 |
376.684 |
|
Gross domestic product per capita, current prices U.S. dollars (Units) |
27,876.280 |
31,630.134 |
31,542.861 |
33,039.214 |
34,651.647 |
|
Inflation, average consumer prices Percent change (Units) |
15.100 |
10.661 |
2.435 |
2.481 |
2.000 |
|
Volume of imports of goods and services Percent change (Units) |
5.948 |
-0.893 |
1.227 |
1.857 |
3.148 |
|
Volume of exports of goods and services Percent change (Units) |
5.149 |
2.732 |
1.878 |
0.859 |
3.026 |
|
Unemployment rate Percent of total labor force (Units) |
2.165 |
2.579 |
2.800 |
2.500 |
2.400 |
|
Current account balance U.S. dollars (Billions) |
-14.141 |
-0.382 |
6.052 |
-0.269 |
-2.296 |
|
Current account balance Percent of GDP (Units) |
-4.685 |
-0.111 |
1.755 |
-0.075 |
-0.610 |
Estimates
Source: IMF Statistics - Czech Republic
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 18.03.1991 (Memorial 1992, A no.106, p.3142)
- Effective as of 01.01.1993 (Memorial 1992, A no.106, p.3142) until 31/12/2024
- Convention from 05.03.2013 (Memorial 2014, A no.126, p.1859)
- Effective as of 01.01.2015 (Memorial 2014, A no.126, p.1859)
- Amicable agreement concerning amendments to the Tax Convention by the Multilateral Convention (Circular L.G. - Conv. D.I. No. 65 of November 9, 2020)
- Effective as of 01.01.2021
Air Services agreement
None
Weitere Informationen
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Czech Republic
Embassy of the Grand Duchy of Luxembourg in Prague
Ambassador Extraordinary and Plenipotentiary: Mr Ronald DOFING
9, rue Apolinarska
CZ - 128 00 PRAHA 2
Czechia
Tel.: (+420) 257 18 18 00
Fax: (+420) 257 53 25 37
E-Mail: prague.amb@mae.etat.lu
Website: www.prague.mae.lu
Source: Ministry of Foreign Affairs of Luxembourg
Country risk as defined by Office du Ducroire for Czech Republic
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link:Ducroire Office – Country Risk for Czech Republic