Czech Republic is among the top 20 largest markets in terms of number of active companies, with approximately 2.500.000 businesses.
The country’s GDP has been growing constantly in the last years, making Czech Republic a healthy state with ever-changing businesses.
The Professional, Scientific, and Technical Services is the first sector, constituting 20,13% of the country’s GDP.
In the second and the third place, we have respectively the Construction with a percentage of 15,09% and the Manufacturing sectors, representing 13,72% of the market.
The Professional, Scientific, and Technical Services sector comprises establishments that specialize in performing professional, scientific, and technical activities for others. These activities require a high degree of expertise and training. The establishments in this sector specialize according to expertise and provide these services to clients in a variety of industries and, in some cases, to households.
The Construction sector comprises establishments primarily engaged in the construction of buildings or engineering projects (e.g., highways and utility systems). Establishments primarily engaged in the preparation of sites for new construction and establishments primarily engaged in subdividing land for sale as building sites also are included in this sector. Construction work may include new work, additions, alterations, or maintenance and repairs.
The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products. Establishments in the Manufacturing sector are often described as plants, factories, or mills and characteristically use power-driven machines and materials-handling equipment. Thus, establishments transforming materials or substances into new products by hand or in the worker’s home and those engaged in selling to the general public products made on the same premises from which they are sold (e.g. bakeries, candy stores, and custom tailors) may also be included in this sector.
In light of the above, the constant growth of the country’s economy guarantees its inhabitants a good standard of living and important opportunities to invest in quality products. For this reason, Czech Republic is a country that should be looked at with interest, especially for service or manufacturing companies looking for new distributors as they would enter a healthy and fast-growing market.