Czech Economy And The EU Entrance

Economy | September 09, 2014
Excel Sheet

Current crisis at Ukraine once again reminded a few post-communist countries in Central Europe how crucial the entrance into the NATO and the European Union were.

There will always be a few people (or politicians with their own agenda) impossible to be persuaded by the common sense. The numbers are clear and speak for themselves, in our view.

However, we are presenting a few charts on the Czech economy to see how the entrance into the EU had paid off (May 2004) to support new to-be-EU members in their efforts to join the club:

1) Czech GDP has increased nearly 6-fold in between 1990 and 2013 in USD-terms, from 17% to 44% of the Germany's level

2) Average wage has increased in the Czech Republic from around 5% of the Germany's average in 1990 to 35% now

3) Czech economy has attracted foreign direct investments worth over 90% of its annual GDP in the last two decades, one of the highest figures in the world