Economy - overview:
Czechia is a stable and prosperous market economy that is 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. Czechia 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 and 2013, however, the economy fell into a recession again, due both to a slump in external demand in the EU and to the government’s austerity measures, returning to weak growth in 2014, and stronger growth in 2015.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):
$350.9 billion (2016 est.) $342.5 billion (2015 est.) $327.6 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 50
[see also: GDP country ranks ]

GDP (official exchange rate):
$193.5 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.5% (2016 est.) 4.5% (2015 est.) 2.7% (2014 est.)
country comparison to the world: 116
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$33,200 (2016 est.) $32,500 (2015 est.) $31,200 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 58
[see also: GDP - per capita country ranks ]

Gross national saving:
27.6% of GDP (2016 est.) 28.3% of GDP (2015 est.) 26.1% of GDP (2014 est.)
country comparison to the world: 36
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 47.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 25.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 81.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -74.8% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 37.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 60% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

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

Industrial production growth rate:
2.8% (2016 est.)
country comparison to the world: 86
[see also: Industrial production growth rate country ranks ]

Labor force:
5.494 million (2016 est.)
country comparison to the world: 72
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 37.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 60% (2012)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.6% (2016 est.) 6.5% (2015 est.)
country comparison to the world: 60
[see also: Unemployment rate country ranks ]

Population below poverty line:
8.6% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.1% (2012 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
24.9 (2012) 25.4 (1996)
country comparison to the world: 141
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $73.74 billion
[see also: Budget revenues country ranks ]
expenditures: $74.75 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
38.1% of GDP (2016 est.)
country comparison to the world: 44
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.5% of GDP (2016 est.)
country comparison to the world: 41
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
40.8% of GDP (2016 est.) 41.1% of GDP (2015 est.)
country comparison to the world: 117
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.5% (2016 est.) 0.3% (2015 est.)
country comparison to the world: 50
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2013) 0.05% (31 December 2012)
note: this is the two-week repo, the main rate CNB uses
country comparison to the world: 150
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.2% (31 December 2016 est.) 4.28% (31 December 2015 est.)
country comparison to the world: 154
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$137.9 billion (31 December 2016 est.) $124.9 billion (31 December 2015 est.)
country comparison to the world: 29
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$155.1 billion (31 December 2016 est.) $144.1 billion (31 December 2015 est.)
country comparison to the world: 48
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$129.2 billion (31 December 2016 est.) $127.5 billion (31 December 2015 est.)
country comparison to the world: 50
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$54.92 billion (30 December 3013 est.) $59.88 billion (28 December 2012 est.) $53.2 billion (30 December 2011 est.)
country comparison to the world: 50
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$2.976 billion (2016 est.) $1.682 billion (2015 est.)
country comparison to the world: 29
[see also: Current account balance country ranks ]

Exports:
$141.7 billion (2016 est.) $131 billion (2015 est.)
country comparison to the world: 33
[see also: Exports country ranks ]

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

Exports - partners:
Germany 32.4%, Slovakia 9%, Poland 5.8%, UK 5.3%, France 5.1%, Austria 4.1% (2015)

Imports:
$132.4 billion (2016 est.) $122.5 billion (2015 est.)
country comparison to the world: 32
[see also: Imports country ranks ]

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

Imports - partners:
Germany 30%, Poland 9%, China 8.3%, Slovakia 6.6%, Netherlands 5%, Austria 4.1% (2015)

Reserves of foreign exchange and gold:
$78.62 billion (31 December 2016 est.) $64.49 billion (31 December 2015 est.)
country comparison to the world: 30
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$128.9 billion (31 December 2016 est.) $126.2 billion (31 December 2015 est.)
country comparison to the world: 45
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$139.1 billion (31 December 2016 est.) $136.1 billion (31 December 2015 est.)
country comparison to the world: 39
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$45.28 billion (31 December 2016 est.) $41.48 billion (31 December 2015 est.)
country comparison to the world: 45
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
koruny (CZK) per US dollar - 25.02 (2016 est.) 24.599 (2015 est.) 24.599 (2014 est.) 20.758 (2013 est.) 19.59 (2012 est.)