First Czechoslovak Republic
The First Czechoslovak Republic comprised only 27% of the population of the former Austria-Hungary, but nearly 80% of the industry, which enabled it to compete with Western industrial states. In 1929 compared to 1913, the gross domestic product increased by 52% and industrial production by 41%. In 1938 Czechoslovakia held 10th place in the world industrial production. Czechoslovakia was the only democracy in Central Europe during the interwar period. Although the First Czechoslovak Republic was a unitary state, it provided certain rights to its minorities, the largest being Germans (23.6% in 1921), Hungarians (5.6%) and Ukrainians (3.5%).