Passage: The Economy of the Czech Republic is a developed export-oriented social market economy based on services, manufacturing and innovation, that maintains a high-income welfare state and the "continental" type of the European social model. The Czech Republic participates in the European Single Market as a member of the European Union, and is therefore a part of the economy of the European Union, but uses its own currency, the Czech koruna, instead of the euro. It is a member of the OECD. As of 2017, the Czech GDP per capita at purchasing power parity is $35,223  and $20,152 at nominal value. As of March 2018, the unemployment rate in the Czech Republic was the lowest in the EU at 2.2%, and the poverty rate is the second lowest of OECD members only behind Denmark. Czech Republic ranks 24th in both the Index of Economic Freedom  and the Global Innovation Index , 31st in the Global Competitiveness Report 30th in the ease of doing business index and 25th in the Global Enabling Trade Report . The largest trading partner for both export and import is Germany and the EU in general. The Czech Republic has a highly diverse economy that ranks 7th in the 2016 Economic Complexity Index. The industry sector accounts for 37.5% of the economy, while services for 60% and agriculture for 2.5%. The principal industries are high tech engineering, electronics, automotive, and machine-building, steel production, transportation equipment, chemical production and pharmaceuticals. The major services are research and development, ICT and software development, nanotechnology and life sciences among others. Its main agricultural products are cereals, vegetable oils and hops.
As of March 2018, who has the higher poverty rate, the Czech Republic or Denmark? Czech Republic has the lowest of what in the EU? How does the Czech Republic vary from other countries in the European Union? How many EU countries had a lower poverty rate than the Czech Republic in 2018? How many dollars more is the Czech GDP per capita at purchasing power parity then it is at nominal value? How many dollars was the difference in purchasing power and nominal value of the Czech GDP? How many major services does the country have? How many more countries in the EU have a lower unemployment rate than the Czech Republic? How many percentage points of the Czech economy is accounted for by the combination of Industry and Services? How many percentage points of the Czech economy is accounted for by the combination of Services and Agriculture? How many principal industries does the company have? In what area did Denmark rank highest in the EU in 2018? The Economy of the Czech Republic is considered to be what orientation? What accounts for over half of the Czech economy? What contributes more to the economy, industry or agriculture? What is the lowest contributing sector of the Czech economy? What is the second major services of the country listed? What percentage of the Economy of the Czech Republic accounts services? What services were Czech's economy based on? Where does the Czech Republic rank in ease of doing business index? Which Czech Republic category is responsible for the smallest mentioned percentage of the economy? Which category accounts for the greatest percentage of the Czech Republic economy? Which does the Czech rank further down on the list for, the Global Enabling Trade Report or the Global Competitiveness Report? Which products account for only 2.5% of the Czech Republic economy? Who has a higher poverty rate, Czech republic or Denmark? Who holds the second lowest poverty rate?