Czech Republic - Imports of Goods and Services

For Czechia (the Czech Republic), the quarterly national accounts including the detailed expenditure approach (use of GDP), production approach (gross value added), income approach (compensation), and branch accounts (employment).

Gross domestic product (GDP) is the key indicator of the economic development. It represents the sum of values added by all branches of activities which are considered productive in the system of national accounts (including market and non-market services). Calculations are made at current prices and results are then converted into constant prices so that development excluding influences due to price changes can be kept track of.

Increase (or decrease) of GDP in constant prices shows by how many percent it increased (or decreased) in real terms during the surveyed quarter against the same quarter of the previous year.

Active:

• National accounts framework: ESA 2010
• Industry classification: CZ-NACE
• Measurements:
  • Millions of Czech korunas at chained year-2020 prices (Mil. Ch. 2020 CZK)
  • At current prices (Mil. CZK)
  • Moving-base index relative to corresponding period of previous year (Index CPPY=100)
  • Moving-base volume index relative to corresponding period of previous year, based on year-2020 korunas (Ch. 2020 CZK Vol. Index CPPY=100)
  • Year-over-year percent change (% Y/Y)
• Adjustments:
  • Calendar day adjusted and seasonally adjusted (CDASA)
  • Seasonally adjusted (SA)
  • Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start date: As early as 1995Q1

Predecessors:

• 2015 prices - {1995Q1, 1996Q1, 1997Q1} to 2024Q1 ("_15")
• 2010 prices, ESA 2010 - 1995Q1 to 2020Q2 ("_10")
• 2005 prices, ESA 95 - 1995Q1 to 2014Q2 ("_E95")
• 2000 prices - 1995Q1 to 2011Q2 ("00")
• 1995 prices - 1994 to 2003

GDP is compiled independently using two computational methods – the production approach and the expenditure approach. The income approach is not involved in the balancing process because gross operating surplus (including mixed income) is derived as a residual item. Differences between results of both approaches are removed in the balancing process.

Moody's Analytics supplements

For select GDP(E) and GDP(I) items, we construct seasonally adjusted supplements.

Within every regular quarterly estimate, revisions of results for previous periods are made. Quarters of the current year may be corrected on the basis of more complete and updated quarterly data sources. Moreover, revisions due to compilation of annual national accounts are made twice a year. Within every estimate for 1st quarter (published in June), quarters of the year T-3 are corrected due to definitive version of annual accouts and quarters of the year T-2 are corrected due to semi-definitive version of annual accounts. Within every estimate for 3rd quarter (published in December), quarters of the year T-1 are corrected due to preliminary version of annual accounts. No revisions are released within preliminary quarterly estimates.

The currency reference year is advanced every fifth year.

Further reading

At the source:

• Gross domestic product (GDP) - Methodology
• Methodology of annual national accounts
• ESA 2010, comprehensive revision of national accounts (2014)

At IMF (SDDS Plus):

• National accounts (Jan 2024)

• Sep 2005 - Initial version.
• Jan 2012 - Addendum of supplement for SA compensation.
• Jan 2012 - Addendum of nominal detail.
• Dec 2011 - Classification advanced to NACE Rev. 2, currency reference year advanced to 2010.
• Jan 2015 - Framework advanced to ESA 2010.
• Aug 2020 - Currency reference year advanced to 2015.
• Jul 2021 - Addendum of GDP(I).
• 8 Jul 2024, Phillip Thorne - Currency reference year advanced to 2020: Properties.