GDP of the Czech Republic growing by 2.7%

Published: 26.08.2019 Related countries:  U.S.A. U.S.A.

GDP of the Czech Republic growing by 2.7%

Czech Statistical Office reports that the year-to-year growth of Czech Gross domestic product in the second quarter of this year was 2.7%. The Czech Republic thus significantly outperforms Germany, the biggest importer of Czech goods, whose economy is slowing down. The growth was influenced mainly by Czech households and foreign demand. Trade and tourism were the biggest drivers of the positive development, however, industry also flourished. It seems that the Czech economy has established immunity against negative foreign influences, which could protect the market from dramatic demand fluctuations.

Source:https://ct24.ceskatelevize.cz/ekonomika/2895944-ceske-hospodarstvi-si-polepsilo-o-27-procenta-brzy-se-ale-muze-projevit-ochlazeni

Prepared by the team of foreign office CzechTrade San Francisco