The value of Czechia’s exports represent 1.3% of the world’s $17.503 trillion in exported goods one year earlier in 2020.
The 5 biggest customers for products shipped from the Czech Republic in 2021 were Germany, Slovakia, Poland, France and Austria. Combined, that quintet of major importers bought well over half (56.3%) of Czechian exported products.
Applying a continental lens, 89.7% of Czechian exports by value were delivered to fellow European countries while 5.8% were sold to importers in Asia.
Smaller percentages arrived in North America (2.8%), Africa (1%), Latin America (0.4%) excluding Mexico but including the Caribbean, then Oceania (0.3%) led by Australia and New Zealand.
Czech Republic’s Top Trading Partners
Below is a list showcasing 25 of Czech Republic’s top trading partners in terms of Czechian export sales. That is, countries that imported the most Czechian shipments by dollar value during 2021. Also shown is each import country’s percentage of total Czechian exports.
- Germany: US$73.5 billion (32.4% of total Czech exports)
- Slovakia: $18.2 billion (8.1%)
- Poland: $15.2 billion (6.7%)
- France: $10.5 billion (4.6%)
- Austria: $10.2 billion (4.5%)
- Italy: $8.7 billion (3.9%)
- United Kingdom: $8.6 billion (3.8%)
- Netherlands: $8.3 billion (3.7%)
- Hungary: $7.5 billion (3.3%)
- Spain: $5.7 billion (2.5%)
- United States: $5.2 billion (2.3%)
- Belgium: $5 billion (2.2%)
- Russia: $4.2 billion (1.9%)
- Sweden: $3.8 billion (1.7%)
- Romania: $3.4 billion (1.5%)
- Switzerland: $3.3 billion (1.5%)
- China: $2.9 billion (1.3%)
- Turkey: $2.3 billion (1%)
- Denmark: $2.2 billion (1%)
- Ireland: $1.5 billion (0.7%)
- Ukraine: $1.5 billion (0.7%)
- Japan: $1.4 billion (0.6%)
- Bulgaria: $1.2 billion (0.5%)
- Finland: $1.2 billion (0.5%)
- Slovenia: $1.1 billion (0.5%)
Over nine-tenths (91.3%) of Czechian exports in 2021 were delivered to the above 25 trade partners.
The fastest growers in terms of increasing purchases of Czechian exports from 2020 to 2021 were Japan (up 58%), Ireland (up 39.3%), Austria (up 27.4%), Poland (up 26.6%) and Slovakia (up 24.6%).
The two decliners from the above list were Turkey which decreased its imports of Czechian exports by -2.1% and Russia whose purchases fell by -0.9%).
Countries Driving Biggest Trade Deficits for the Czech Republic
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Czech Republic incurred the highest trade deficits with the following countries.
- China: -US$19 billion (country-specific trade deficit in 2021)
- Netherlands: -$5.2 billion
- Poland: -$4.2 billion
- South Korea: -$2.3 billion
- Hong Kong: -$1.8 billion
- Japan: -$953.6 million
- Thailand: -$857.6 million
- Malaysia: -$769.6 million
- Ireland: -$745.1 million
- Kazakhstan: -$538.9 million
Among Czech Republic’s top trading partners that cause the greatest negative trade balances, Czech deficits with Poland (up 178.7%) posted the sole increase from 2020 to 2021.
In addition, Czechia reversed surpluses trading with Netherlands, Ireland, Hong Kong and Kazakhstan in 2020 to incur the significant amounts of red ink shown above.
These cashflow deficiencies clearly indicate Czech Republic’s competitive disadvantages with the above countries, but also represent key opportunities for Czech Republic to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Greatest Trade Surpluses for the Czech Republic
Czechia posted a $15.5 billion trade surplus in 2021, down -25.6% from $20.9 billion in black ink one year earlier.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Czech Republic incurred the highest trade surpluses with the following countries.
- Germany: US$15.3 billion (country-specific trade surplus in 2021)
- Slovakia: $6.4 billion
- United Kingdom: $6.1 billion
- France: $4.4 billion
- Spain: $2.2 billion
- Sweden: $2.1 billion
- Austria: $2 billion
- Switzerland: $1.75 billion
- Hungary: $1.74 billion
- Norway: $913.9 million
Among Czech Republic’s trading partners that generate the greatest positive trade balances, Czechian surpluses with Norway (up 84.4%), Switzerland (up 37.6%) and Spain (up 25.7%) grew at the fastest pace from 2020 to 2021.
These positive cashflow streams clearly indicate Czech Republic’s competitive advantages with the above countries, but also represent key opportunities for Czech Republic to develop country-specific strategies to optimize its overall position in international trade.
Notable Czechian Companies Servicing Import Partners
Only one Czech company made the Forbes Global 2000 rankings: CEZ Group (electric utilities).
Wikipedia lists other large Czech companies. A selected sample of these companies appears below.
- Agrofert, A.S. (conglomerate)
- Barum Continental Spol. S R.O. (tires)
- ČEPRO, A.S. (oil, gas)
- Continental Automotive Czech Republic S.R.O. (auto parts)
- Finitrading, A.S. (metallurgy)
- RWE Supply & Trading CZ, A.S. (oil, gas)
- Škoda Auto A.S. (automobiles)
- UNIPETROL, A.S. (chemicals)
See also Czech Republic’s Top 10 Exports and Czech Republic’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 5, 2022
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 5, 2022
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 28, 2021
International Trade Centre, Trade Map. Accessed on April 5, 2022
Investopedia, Net Exports Definition. Accessed on April 5, 2022
Wikipedia, List of Companies of the Czech Republic. Accessed on April 5, 2022
