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Czech Republic Economy 2016
http://www.theodora.com/wfbcurrent/czech_republic/czech_republic_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















Czech Republic Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

Economy - overview:
The Czech Republic is a stable and prosperous market economy closely integrated with the EU, especially since the country's EU accession in 2004. The auto industry is the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell sharply in 2009. The economy slowly recovered in the second half of 2009 and registered weak growth in the next two years. In 2012, however, the economy fell into a recession again, due both to a slump in external demand and to the government’s austerity measures. The country pulled out of recession in the second half of 2013, and most analysts expect modest, but steady, growth through 2014. Foreign and domestic businesses alike voice concerns about corruption, especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

GDP (purchasing power parity):
$285.6 billion (2013 est.)
country comparison to the world: 46

$288.2 billion (2012 est.)
$291.1 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$194.8 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-0.9% (2013 est.)
country comparison to the world: 204

-1% (2012 est.)
1.8% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$26,300 (2013 est.)
country comparison to the world: 56

$26,500 (2012 est.)
$28,300 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
21.1% of GDP (2013 est.)
country comparison to the world: 75

20.7% of GDP (2012 est.)
21.2% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 45.1%
government consumption: 18.3%
investment in fixed capital: 27%
investment in inventories: 0.1%
exports of goods and services: 81.1%
imports of goods and services: -71.5%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 2.4%
industry: 37.3%
services: 60.3% (2012 est.)

Agriculture - products:
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry

Industries:
motor vehicles, metallurgy, machinery and equipment, glass, armaments

Industrial production growth rate:
0.5% (2013 est.)
country comparison to the world: 155
[see also: Industrial production growth rate country ranks ]

Labor force:
5.304 million (2013 est.)
country comparison to the world: 71
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.6%
industry: 37.4%
services: 60% (2012)

Unemployment rate:
7.1% (2013 est.)
country comparison to the world: 74

7% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
9.8% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
highest 10%: 29.1% NA% (2012 est.)

Distribution of family income - Gini index:
24.9 (2012)
country comparison to the world: 136

25.4 (1996)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $55.81 billion
expenditures: $59.96 billion (2013 est.)

Taxes and other revenues:
28.6% of GDP (2013 est.)
country comparison to the world: 101
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.1% of GDP (2013 est.)
country comparison to the world: 90
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
48.8% of GDP (2013 est.)
country comparison to the world: 69

46.2% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.4% (2013 est.)
country comparison to the world: 39

3.3% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2013 est.)
country comparison to the world: 142

0.05% (31 December 2012)
note: this is the two-week repo, the main rate CNB uses
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.1% (31 December 2013 est.)
country comparison to the world: 143

5.41% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$124.1 billion (30 September 2013 est.)
country comparison to the world: 29

$114.2 billion (30 September 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$154 billion (30 September 2013 est.)
country comparison to the world: 45

$146.5 billion (30 September 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
NA% (30 September 2012 est.)

$130.2 billion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$54.92 billion (30 December 3013 est.)
country comparison to the world: 46

$59.88 billion (28 December 2012)
$53.2 billion (30 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$3.27 billion (2013 est.)
country comparison to the world: 160

-$4.798 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$161.4 billion (2013 est.)
country comparison to the world: 32

$157 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and transport equipment, raw materials and fuel, chemicals

Exports - partners:
Germany 31.8%, Slovakia 9.1%, Poland 6.1%, France 5.1%, UK 4.9%, Austria 4.7% (2012)

Imports:
$143.4 billion (2013 est.)
country comparison to the world: 32

$141.4 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, raw materials and fuels, chemicals

Imports - partners:
Germany 29.5%, Poland 7.7%, Slovakia 7.4%, China 6.3%, Netherlands 5.8%, Russia 5.3%, Austria 4.3% (2012)

Reserves of foreign exchange and gold:
$56.22 billion (31 December 2013 est.)
country comparison to the world: 35

$44.88 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$102.1 billion (30 September 2013 est.)
country comparison to the world: 46

$101.9 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$144.2 billion (31 December 2013 est.)
country comparison to the world: 32

$136.5 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$16.63 billion (31 December 2013 est.)
country comparison to the world: 49

$17.37 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
koruny (CZK) per US dollar -

19.57 (2013 est.)
19.59 (2012 est.)
19.098 (2010 est.)
19.063 (2009)
17.064 (2008)


NOTE: The information regarding Czech Republic on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Czech Republic Economy 2016 information contained here. All suggestions for corrections of any errors about Czech Republic Economy 2016 should be addressed to the CIA.




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