International organization participation:
ACCT (observer), Australia Group, BIS, BSEC (observer), CE, CEI,
CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, IAEA, IBRD,
ICAO, ICC, ICCt (signatory), ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF,
IMO, Interpol, IOC, IOM, IPU, ISO, ITU, ITUC, MIGA, MONUC, NAM
(guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW,
OSCE, PCA, UN, UNCTAD, UNESCO, UNIDO, UNITAR, UNMEE, UNMIL, UNOMIG,
UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Petr KOLAR
chancery: 3900 Spring of Freedom Street NW, Washington, DC 20008
telephone: [1] (202) 274-9100
FAX: [1] (202) 966-8540
consulate(s) general: Chicago, Los Angeles, New York
Diplomatic representation from the US:
chief of mission: Ambassador Richard W. GRABER
embassy: Trziste 15, 11801 Prague 1
mailing address: use embassy street address
telephone: [420] 257 022 000
FAX: [420] 257 022 809
Flag description:
two equal horizontal bands of white (top) and red with a blue
isosceles triangle based on the hoist side (identical to the flag of
the former Czechoslovakia)
Economy Czech Republic
Economy - overview:
The Czech Republic is one of the most stable and prosperous of the
post-Communist states of Central and Eastern Europe. Growth in
2000-05 was supported by exports to the EU, primarily to Germany,
and a strong recovery of foreign and domestic investment. Domestic
demand is playing an ever more important role in underpinning growth
as interest rates drop and the availability of credit cards and
mortgages increases. The current account deficit has declined to
around 3% of GDP as demand for Czech products in the European Union
has increased. Inflation is under control. Recent accession to the
EU gives further impetus and direction to structural reform. In
early 2004 the government passed increases in the Value Added Tax
(VAT) and tightened eligibility for social benefits with the
intention to bring the public finance gap down to 4% of GDP by 2006,
but more difficult pension and healthcare reforms will have to wait
until after the next elections. Privatization of the state-owned
telecommunications firm Cesky Telecom took place in 2005.
Intensified restructuring among large enterprises, improvements in
the financial sector, and effective use of available EU funds should
strengthen output growth.
GDP (purchasing power parity):
$221.4 billion (2006 est.)
GDP (official exchange rate):
$118.9 billion (2006 est.)
GDP - real growth rate:
6.2% (2006 est.)
GDP - per capita (PPP):
$21,600 (2006 est.)