Czech Republic: Market overview
Table of Contents
Source: Statistics Canada
Note: Data on Canada-Czech Republic service trade is not available.
2015 Trade and Investment between the Czech Republic and Canada (C$, Millions)
|Trade and Investment||C$, Millions|
|Canadian Merchandise Exporst to the Czech Republic||$192.0|
|Canadian Merchandise Imports from the Czech Republic||$583.2|
|Czech Direct Investment in Canada||$2.0|
|Canadian Direct Investment in the Czech Republic||$377.0|
- The Czech Republic is the 16th largest EU market for Canadian merchandise exports in the EUFootnote 1.
- The Czech Republic is the 16th largest market in the EU, and the fourth largest market in Central Europe.
- The Czech Republic receives significant EU funding for its economic development, which presents opportunities for Canadian firms.
- The Czech Republic is committed to a free market and maintains a generally open economy. Membership in the EU means that tariffs and standards, as well as most procedures, must conform to EU norms.
- The Czech Republic is an attractive destination for Canadian investment. Canadian direct investment in the Czech Republic was $377 million at the end of 2015Footnote 2.
Read the guide Exporting to the EU.
The aerospace industry has a long and well-established tradition in the Czech Republic. Its role is increasingly important in the Czech economy after a slowdown during the world economic crisis at the end of 2000s. The most important export destinations are France and Germany, which is tied to the increasing involvement of Czech aerospace manufacturers in Airbus programs. Embraer remains also an important customer for Czech aerospace exporters. Canadian exports to the Czech Republic in aerospace product and parts manufacturing have grown significantly in the last five years, increasing by $51.3 million (168%) in 2015.Footnote 6 The fact that Bell Helicopter has its European distribution centre in the Czech Republic explains almost all of this high level of exports. While the final destination of Bell's exports is not the Czech Republic, for the most part, Bell has nonetheless been successful in securing some sales to local security forces. The company's operations in the Czech Republic are key to its success in European sales.
Information and Communications Technology (ICT)
The Czech Republic’s ICT sector is one of the most developed in the Central & Eastern Europe (CEE) region. Numerous global ICT players have established software development centres in the Czech Republic, including Sun Microsystems, IBM, Tieto, and Red Hat. Czech-owned ICT companies such as AVG Technologies and Avast are known for their advanced solutions all around the world. The Czech Republic is also a leading ICT market in the CEE region in terms of per capita spending, the extent and sophistication of enterprise and public ICT utilisation, and the strength of the national ecosystem of firms operating in hardware and software markets. The market shows good growth potential as overall penetration of information technologies among companies as well as households still falls behind levels in western countries. Another area of opportunity is related to e-government projects as the Czech Republic plans to ease bureaucracy and simplify budget administration. Canadian companies in cloud computing, enterprise software, outsourcing and emerging Internet of Things deployments, and cyber security will find potential opportunities in the Czech Republic.
For more information on trade and investment in the Czech Republic, contact your Trade Commissioner in Prague, Czech Republic.
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