Economy The Czech economy continued to expand in albeit at a slower pace than the blistering growth rate in Growth continued to be driven by domestic demand and strong growth in investment and trade.
As of January , the unemployment rate was the lowest in the EU at 3. In April , the CNB removed the currency cap due to resurgent inflation. The annual targeted inflation rate is between one to three percent. The CNB has projected an average inflation rate of 2. Trade As a medium-sized, open, export-driven economy, the Czech Republic is heavily dependent on foreign demand, especially from the Eurozone.
Almost 84 percent of Czech exports go to fellow EU states. Of that amount, more than 60 percent are shipped to the Eurozone and 32 percent to the Czech Republic's largest trading partner, Germany. The U. Import commodities include machinery and transport equipment, manufactures, electronic equipment, chemicals and fuels. The main export commodities are automobiles, machinery, and information and communications technology. In , U. By comparison, U. Labour compensation per hour worked Indicator.
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