Changes

*GDP (2006): $141.7 billion.

*GDP (2006): $141.7 billion.

*Per capital income: $13,710.  

*Per capital income: $13,710.  

*Natural resources: Coal, coke, timber, lignite, uranium, magnesite.  

*Natural resources: Coal, coke, timber, lignite, uranium, magnetise.  

*Agriculture: Products--wheat, rye, oats, corn, barley, hops, potatoes, sugar beets, hogs, cattle, horses.  

*Agriculture: Products--wheat, rye, oats, corn, barley, hops, potatoes, sugar beets, hogs, cattle, horses.  

*Industry: Types--motor vehicles, machinery and equipment, iron, steel, cement, sheet glass, armaments, chemicals, ceramics, wood, paper products, and footwear.  

*Industry: Types--motor vehicles, machinery and equipment, iron, steel, cement, sheet glass, armaments, chemicals, ceramics, wood, paper products, and footwear.  

The Czech Republic became a European Union (EU) member on May 1, 2004. Most barriers to trade in industrial goods with the EU fell in the course of the accession process. The process of accession had a positive impact on reform in the Czech Republic, and new EU directives and regulations continue to shape the business environment. Free trade in services and agricultural goods, as well as stronger regulation and rising labor costs, will mean tougher competition for Czech producers. Future levels of EU structural funding and agricultural supports were key issues in the accession negotiations. Even before accession, policy set in Brussels had a strong influence on Czech domestic and foreign policy, particularly in the area of trade.  

The Czech Republic became a European Union (EU) member on May 1, 2004. Most barriers to trade in industrial goods with the EU fell in the course of the accession process. The process of accession had a positive impact on reform in the Czech Republic, and new EU directives and regulations continue to shape the business environment. Free trade in services and agricultural goods, as well as stronger regulation and rising labor costs, will mean tougher competition for Czech producers. Future levels of EU structural funding and agricultural supports were key issues in the accession negotiations. Even before accession, policy set in Brussels had a strong influence on Czech domestic and foreign policy, particularly in the area of trade.  

The Czech Republic’s economic transformation is not yet complete. The government still faces serious challenges in completing industrial restructuring, increasing transparency in capital market transactions, transforming the housing sector, reforming the pension and health care systems, and solving serious environmental problems.  

The Czech Republic’s economic transformation is not yet complete. The government still faces serious challenges in completing industrial restructuring, increasing transparency in capital market transactions, transforming the housing sector, reforming the pension and health care systems, and solving serious environmental problems.

==History==

==History==