That dollar amount results from a 19.2% gain compared to $202.5 billion during 2018.
From 2021 to 2022, the overall value of Czechia’s exported products increased by 6.3% from $227.2 billion.
The 5 biggest customers for products shipped from the Czech Republic in 2022 were Germany, Slovakia, Poland, France and Austria. Combined, that quintet of major importers bought well over half (57.1%) of Czechian exported products. Such a high percentage suggests a geographically concentrated set of international trade partners.
Applying a continental lens, 89.1% of the Czech Republic’s exports by value was delivered to fellow European countries while 6.2% was sold to Asian importers. Czechia shipped another 3.1% worth of goods to North American.
Smaller percentages went to Africa (0.9%), 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 2022. Also shown is each import country’s percentage of total Czechian exports.
- Germany: US$79 billion (32.7% of total Czech exports)
- Slovakia: $20.1 billion (8.3%)
- Poland: $17 billion (7%)
- France: $11.1 billion (4.6%)
- Austria: $10.7 billion (4.4%)
- Italy: $9.8 billion (4.1%)
- Netherlands: $8.8 billion (3.6%)
- United Kingdom: $8.6 billion (3.6%)
- Hungary: $8.2 billion (3.4%)
- Spain: $6.3 billion (2.6%)
- United States: $6.1 billion (2.5%)
- Belgium: $5.3 billion (2.2%)
- Sweden: $3.9 billion (1.6%)
- Romania: $3.7 billion (1.5%)
- Switzerland: $3.5 billion (1.4%)
- China: $2.72 billion (1.1%)
- Türkiye: $2.66 billion (1.1%)
- Denmark: $2.3 billion (0.9%)
- Russia: $1.6 billion (0.6%)
- Ireland: $1.55 billion (0.6%)
- Ukraine: $1.52 billion (0.6%)
- Bulgaria: $1.32 billion (0.5%)
- Japan: $1.28 billion (0.5%)
- Slovenia: $1.21 billion (0.5%)
- Finland: $1.2 billion (0.5%)
About nine-tenths (90.9%) of Czechian exports in 2022 were delivered to the above 25 trade partners.
Posting double-digit gains in terms of increasing purchases of Czechian exports from 2021 to 2022 were customers in the United States of America (up 13%), Türkiye (also up 13%), Italy (up 12.2%), Poland (up 11.3%), Spain (up 10.9%) and Slovakia (up 10%).
The worst decliners from the above list were buyers in Russia (down -63.9% from 2021), Japan (down -10.5%), mainland China (down -9.2%) and Ukraine (down -5.3%).
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.
- mainland China: -US$28.8 billion (country-specific trade deficit in 2022)
- Netherlands: -$5.6 billion
- Poland: -$4.6 billion
- South Korea: -$2.7 billion
- Russia: -$1.9 billion
- Azerbaijan: -$1.3 billion
- Vietnam: -$1.2 billion
- Malaysia: -$1.1 billion
- Thailand: -$946.8 million
- Japan: -$920.1 million
Among Czech Republic’s trading partners that cause the greatest negative trade balances, Czechian deficits with Azerbaijan (up 153.3%) and Poland (up 128.2%) grew from 2021 to 2022.
In addition, Czechia reversed its surplus trading with the Netherlands in 2021 to incur its amount of red ink listed 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
Overall Czechia posted a $5.2 billion trade surplus in 2022, down -64.5% from $14.7 billion in black ink one year earlier in 2021.
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$14.9 billion (country-specific trade surplus in 2022)
- Slovakia: $7.4 billion
- United Kingdom: $6 billion
- France: $4.6 billion
- Spain: $2.8 billion
- Austria: $2.28 billion
- United States of America: $2.26 billion
- Switzerland: $2.05 billion
- Sweden: $2 billion
- Hungary: $1.99 billion
Among Czech Republic’s trading partners that generate the greatest positive trade balances, Czechian surpluses with the United States of America (up 1,257%), Switzerland (up 74.9%) and Spain (up 46%) grew at the fastest pace from 2021 to 2022.
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 23, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 23, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 28, 2022
International Trade Centre, Trade Map. Accessed on April 23, 2023
Investopedia, Net Exports Definition. Accessed on April 23, 2023
Wikipedia, List of Companies of the Czech Republic. Accessed on April 23, 2023
