{
  "title": "Czech Republic: Selected Issues",
  "publication": "IMF Staff Country Reports, June 13, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/06/12/czech-republic-selected-issues-46990",
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  "summary": "This Selected Issues paper investigates the direct and indirect exposure of the Czech Republic to these external risks. The Czech Republic is a small open economy that has become increasingly reliant on export-driven growth over the last three decades.",
  "sections": [
    {
      "heading": "External risk exposure and trade integration",
      "content": "- The Czech Republic is a small open economy that has become increasingly reliant on export-driven growth over the last three decades.\n- Given the high integration of the Czech Republic into global value chains, it is crucial to take supply chain linkages into account when assessing the impact of trade shocks.\n- Domestic value-added in foreign exports as a share of gross exports in the Czech Republic is higher than the average share of the European Union 28.\n- Services have a relatively low contribution to value-added in gross exports."
    },
    {
      "heading": "Sectoral concentration and exposure to Germany",
      "content": "- The exposure to Germany is even more pronounced at the sectoral level.\n- Manufacturing of machinery and transportation vehicles account for a large share of exports and imports in the Czech Republic.\n- Lower demand in Germany could have sizable effects on the Czech economy."
    },
    {
      "heading": "Trade-dispute scenarios and expected impacts",
      "content": "- Although the impact of the US-China trade disputes on the Czech Republic would likely be limited, a hard Brexit scenario could have sizable effects.\n- Assessment of trade shocks requires tracing direct and indirect exposures through global value chains and supply chain linkages.\n\n---\n\n Content in this bundle\n\n- Czech Republic: Selected Issues; IMF Country Report No. 19/161; May 28, 2019\n  - Czech Republic: Selected Issues; IMF Country Report No. 19/161; May 28, 2019 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Czech Republic: Selected Issues; IMF Country Report No. 19/161; May 28, 2019 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "[Markdown version](/en/publications/cr/issues/2019/06/12/czech-republic-selected-issues-46990/index.md)",
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    "Published: June 13, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498319423.002",
    "The Czech Republic is a small open economy that has become increasingly reliant on export-driven growth over the last three decades.",
    "Given the high integration of the Czech Republic into global value chains, it is crucial to take supply chain linkages into account when assessing the impact of trade shocks.",
    "Domestic value-added in foreign exports as a share of gross exports in the Czech Republic is higher than the average share of the European Union 28.",
    "Services have a relatively low contribution to value-added in gross exports.",
    "The exposure to Germany is even more pronounced at the sectoral level.",
    "Manufacturing of machinery and transportation vehicles account for a large share of exports and imports in the Czech Republic.",
    "Lower demand in Germany could have sizable effects on the Czech economy.",
    "Although the impact of the US-China trade disputes on the Czech Republic would likely be limited, a hard Brexit scenario could have sizable effects.",
    "Assessment of trade shocks requires tracing direct and indirect exposures through global value chains and supply chain linkages.",
    "**Czech Republic: Selected Issues; IMF Country Report No. 19/161; May 28, 2019**"
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      "title": "Czech Republic: Selected Issues; IMF Country Report No. 19/161; May 28, 2019",
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