1st May 2014

After joining the EU the Czech Republic has been growing faster

Since 2004 the Czech Republic has been growing faster than in the previous time period. From regions the growth of Moravskoslezský kraj was with 51 % the biggest one. According to the Czech Statistical Office the whole Czech economy grew 1.1 % faster than it was without the EU. The Czech Republic endured fastest economic growth between years 2000 and 2007. For example since 2004 the average gross wages grew by 43 % to present CZK 25 700, science and development budget grew by 107 % with its private sector share of one quarter, car production grew by 159 %. Share of households that have access to internet grew since 2005 by 54 % and present household internet coverage is as high as 75 % of them. Future development of common internal market is crucial for the Czech Republic as a small open export economy. Proposed EU legislature would additionally bring another CZK 230 bn for the Czech economy in the upcoming five years.

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Members of the American Chamber of Commerce in the Czech Republic