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Economy and Banking Sector of the Czech Republic

Czech Republic
Location
Central Europe
EU Status
member since 2004

The Czech Republic is a Central European country, a member of the European Union since 2004. The Czech Republic is a developed high-income economy, one of the most stable and prosperous of the former Eastern Bloc countries.

Currency
CZK (Czech koruna)
Population  (2017)
10 578 820  (0.00%)
Nominal GDP (2017)
191.6 bln EUR  (+0.09%)
Credit Ratings (as of May 2018)
A+/A1

Main industries of the Czech Republic are production of motor vehicles, metallurgy, machinery and equipment, glass, armaments. Germany is the largest trading partner of the Czech Republic for both export and import.

the Czech Republic signed 85 double taxation agreements.
Czech Republic signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Czech Republic has FATCA agreement with the U.S. in effect since 04 August 2014 (Intergovernmental Agreement Model 1).

Number of Banks
59
Consolidated Banking Assets (2016)
211.19 bln EUR  (+9.69%)
Deposit Guarantee
100 000 EUR

The banking sector of the Czech Republic is characterized by relatively high concentration and a prominent share of foreign capital.

See Also