Applying a continental lens, 89.2% of Czech exports by value were delivered to fellow European countries. Smaller percentages were sold to customers in the Asia continent (6.1%), North America (2.9%), Africa (0.9%), Latin America excluding Mexico but including the Caribbean (0.33%) then Oceania led by Australia and New Zealand (0.3%).
Czech Republic’s Top Trading Partners
Below is a list showcasing 15 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 2020. Also shown is each import country’s percentage of total Czechian exports.
- Germany: US$62.5 billion (32.6% of total Czech exports)
- Slovakia: $14.6 billion (7.6%)
- Poland: $11.9 billion (6.2%)
- France: $9 billion (4.7%)
- Austria: $8 billion (4.2%)
- Netherlands: $7.9 billion (4.1%)
- United Kingdom: $7.7 billion (4%)
- Italy: $7.4 billion (3.9%)
- Hungary: $6.3 billion (3.3%)
- Spain: $5 billion (2.6%)
- United States: $4.4 billion (2.3%)
- Russia: $4.2 billion (2.2%)
- Belgium: $4 billion (2.1%)
- Sweden: $3.1 billion (1.6%)
- Romania: $3 billion (1.6%)
Over four-fifths (82.9%) of Czechian exports in 2020 were delivered to the above 15 trade partners.
Netherlands was the only top importers that increased its purchases from Czech Republic from 2019 to 2020, up in value by 4.9%. Among the other 14 countries, decreases ranged from a minimum of -0.9% for Poland to -21.8% for Spain.
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$16.7 billion (country-specific trade deficit in 2020)
- Netherlands: -$3.4 billion
- Poland: -$3 billion
- Hong Kong: -$2.1 billion
- South Korea: -$2 billion
- Ireland: -$1.4 billion
- Malaysia: -$724.3 million
- Thailand: -$662.8 million
- Japan: -$615.8 million
- Azerbaijan: -$493.3 million
Among Czech Republic’s top trading partners that cause the greatest negative trade balances, Czech deficits with Poland (up 82%) was the sole gainer from 2019 to 2020.
In addition, Czechia reversed surpluses trading with Netherlands, Hong Kong and Ireland in 2019 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.
Overall Czechia posted a $21.8 billion trade surplus in 2020, up 24.1% from $17.6 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 billion (country-specific trade surplus in 2020)
- Slovakia: $5.8 billion
- United Kingdom: $4.3 billion
- France: $3.8 billion
- Spain: $2.2 billion
- Russia: $2.1 billion
- Switzerland: $1.8 billion
- Sweden: $1.8 billion
- Austria: $1.7 billion
- Hungary: $1.6 billion
Among Czech Republic’s trading partners that generate the greatest positive trade balances, Czechia’s surpluses with Switzerland (up 32.5%) was the sole percentage gainer from 2019 to 2020.
In addition, Czechia’s trade with Russia went from -$712 million in red ink for 2019 to $2.1 billion in black ink in 2020.
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.
Companies Servicing Czech 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
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 4, 2021
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 4, 2021
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on June 28, 2020
International Trade Centre, Trade Map. Accessed on March 4, 2021
Investopedia, Net Exports Definition. Accessed on March 4, 2021
Wikipedia, List of Companies of the Czech Republic. Accessed on March 4, 2021