Engineering a Backbone of the Industry and Trade with India
Mechanical engineering plays a major role in the Czech economy and the country’s great concentration of mechanical-engineering companies makes the Czech Republic an engineering hub. With a production base of more than 1,100 companies, the sector supplies complete equipment and machinery for other sectors of economy. Czech machine-tools, cutting and forming-machine production rely on highly sophisticated design and offer excellent products for clients, in the automotive, aerospace and rail industries. Production of engineering industry is exported around the world, mostly to Germany, Italy, France, Poland and other European countries, as well as to Russia, China and the United States ...
The Czech engineering sector has been transformed over the past three decades by globalisation and arrival of foreign direct investments. The Czech Republic has responded to these fundamental changes by moving its manufacturing facilities and activities up the value chain and became strategic hub of choice for global companies. Investors used Czechia as a base for expanding their production capacities or for their research and development activities.
Highlights of the Czech Engineering Industry
- According to Eurostat, the Czech Republic is the most industrialized country in the EU, as manufacturing accounts for more than 26.7% of industry while industry generates nearly 40% of GDP.
- With 93 robots per 10,000 manufacturing workers, the Czech Republic surpasses the global average of 66 units and other industrialized countries (International Federation of Robotics, 2016).
- The Czech Republic is the only Central and Eastern European country that is a member of the prestigious group CECIMO—the European Association of the Machine Tool Industries.
- According to data released by CECIMO, the Czech Republic occupies 15th place in the world and ranks eighth in Europe in production of machine tools. In terms of production per-capita, the country ranks eighth globally and fifth in Europe.
- The sector is highly competitive, 85% of manufactured products are exported according to the Czech Statistical Office.