Czech Republic - Economic Indicators

Economic Overview

Czechia is a prosperous market economy that boasts one of the highest GDP growth rates and lowest unemployment levels in the EU, but its dependence on exports makes economic growth vulnerable to contractions in external demand. Czechia’s exports comprise some 80% of GDP and largely consist of automobiles, the country’s single largest industry. Czechia acceded to the EU in 2004 but has yet to join the euro-zone. While the flexible koruna helps Czechia weather external shocks, its central bank (Czech National Bank - CNB) has since November 2013 intervened in the foreign...

Continue reading View Factbook for Czech Republic

GDP Reference Last Previous Units Frequency
Private Consumption 2017 Q4 605,305 594,853 Mil. CZK, CDASA Quarterly
Real Private Consumption 2017 Q4 548,615 545,178 Mil. Ch. 2010 CZK, CDASA Quarterly
Real Government Consumption 2017 Q4 217,096 213,475 Mil. Ch. 2010 CZK, SA Quarterly
Government Consumption 2017 Q4 248,724 242,747 Mil. CZK, SA Quarterly
Nominal Gross Domestic Product 2017 Q4 1,298,679 1,280,448 Mil. CZK, CDASA Quarterly
Real Gross Domestic Product 2017 Q4 1,172,439 1,163,330 Mil. Ch. 2010 CZK, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2017 Q4 307,080 304,164 Mil. Ch. 2010 CZK, CDASA Quarterly
Investment 2017 Q4 346,739 345,816 Mil. CZK, CDASA Quarterly
Real Investment 2017 Q4 326,834 323,363 Mil. Ch. 2010 CZK, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2017 Q4 326,852 328,413 Mil. CZK, CDASA Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Apr 2018 104.7 104.4 Index 2015=100, NSA Monthly
Producer Price Index (PPI) Jan 2018 99.1 98.6 Index 2015=100, NSA Monthly
Wholesale Price Index 2016 100.99 104.4 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Labor Force 2018 Q1 5,407 5,380 Ths., SA Quarterly
Unemployment 2018 Q1 125.08 129.87 Ths., SA Quarterly
Labor Force Employment 2018 Q1 5,281 5,250 Ths., SA Quarterly
Unemployment Rate 2018 Q1 2.31 2.41 %, SA Quarterly
Total Employment 2017 Q4 5,262 5,257 Thousands, NSA Quarterly
Primary Industries Employment 2017 Q4 142.35 152.87 Ths., NSA Quarterly
Real Wages & Salaries 2017 Q4 105.3 104.2 Real Index, corresponding period of previous year = 100 Quarterly
Wage & Salaries 2017 Q4 31,646 29,063 Nominal local currency, NSA Quarterly
Agriculture Employment 2016 149.08 147.49 Ths. Annual
Trade Reference Last Previous Units Frequency
Balance of Goods Mar 2018 47,185 39,827 Millions of Czech Korunas, NSA Monthly
Imports of Goods Mar 2018 319,083 293,813 Millions of Czech Korunas, NSA Monthly
Exports of Goods Mar 2018 366,267 333,640 Millions of Czech Korunas, NSA Monthly
Current Account Balance 2017 Q4 -682 -34,547 Mil. CZK, NSA Quarterly
Exports of Goods and Services 2017 Q4 998,704 990,152 Mil. CZK, CDASA Quarterly
Real Imports of Goods and Services 2017 Q4 900,260 881,191 Mil. Ch. 2010 CZK, CDASA Quarterly
Imports of Goods and Services 2017 Q4 908,754 900,947 Mil. CZK, CDASA Quarterly
Real Exports of Goods and Services 2017 Q4 973,693 956,357 Mil. Ch. 2010 CZK, CDASA Quarterly
Government Reference Last Previous Units Frequency
Gross External Debt 2017 Q3 0 0 USD, NSA Quarterly
Outstanding Public Debt - Domestic 2016 979,834 1,167,514 Mil. CZK, NSA Annual
Government Revenues 2016 1,783,565 1,740,299 Mil. CZK, NSA Annual
Outstanding Public Debt - Foreign 2016 716,050 615,715 Mil. CZK, NSA Annual
Government Expenditures 2016 1,705,753 1,772,694 Mil. CZK, NSA Annual
Markets Reference Last Previous Units Frequency
Lending Rate 25 May 2018 0.75 0.75 Percent, NSA Daily
Money Market Rate 25 May 2018 0.05 0.14 % P.A., NSA Business Daily
Stock Market Index 24 May 2018 1,103 1,099 Index, NSA Business Daily
Average Long-term Government Bond Apr 2018 1.74 1.81 % p.a., NSA Monthly
Treasury Bills (over 31 days) Mar 2018 0.25 0.2 % p.a., NSA Monthly
Real Estate Reference Last Previous Units Frequency
Building Permits Mar 2018 6,498 5,543 #, NSA Monthly
Building Completions 2018 Q1 6,907 8,800 #, NSA Quarterly
Non-residential Housing Starts 2018 Q1 302 484 #, NSA Quarterly
Residential Housing Starts 2018 Q1 7,618 8,182 #, NSA Quarterly
Housing Starts 2018 Q1 7,618 8,182 #, NSA Quarterly
Residential Building Completions 2018 Q1 4,154 4,795 #, NSA Quarterly
Non-residential Building Permits Mar 2018 1,278 1,160 #, NSA Monthly
Residential Building Permits Mar 2018 2,398 2,037 #, NSA Monthly
Non-residential Building Completions 2018 Q1 173 113 #, NSA Quarterly
House Price Index for Existing Homes 2017 Q4 122.2 120.9 Index 2015=100, NSA Quarterly
House Price Index for New Homes 2017 Q4 123 122.9 Index 2015=100, NSA Quarterly
House Price Index 2016 Q4 115.8 112.6 Index 2010=100, NSA Quarterly
Consumer Reference Last Previous Units Frequency
Consumer Confidence May 2018 11.3 10 Balance of Opinion, NSA Monthly
Retail Sales Mar 2018 116.27 100.18 Index 2015=100, NSA Monthly
Real Retail Sales Mar 2018 113.03 97.3 Vol. Index 2015=100, NSA Monthly
Business Reference Last Previous Units Frequency
Capacity Utilization 2018 Q2 85.4 85.8 %, SA Quarterly
Business Confidence May 2018 15.6 17.2 Balance of Opinion, NSA Monthly
Industrial Production Mar 2018 119.77 107.64 Index 2015=100, NSA Monthly
Change in Inventories 2017 Q4 18,480 15,995 Mil. CZK, CDASA Quarterly
Real Change in Inventories 2017 Q4 18,473 17,902 Mil. Ch. 2010 CZK, CDASA Quarterly
Demographics Reference Last Previous Units Frequency
Net Migration Dec 2017 1,917 3,615 #, NSA Monthly
Births 2016 112,663 110,764 # Annual
Deaths 2016 107,750 111,173 # Annual
Population 2016 10,565,284 10,542,942 Number Annual
Birth Rate 2015 10.5 10.4 # per Ths. pop. Annual
Death Rate 2015 10.5 10 # per Ths. pop. Annual

Factbook

Background

Background:
At the close of World War I, the Czechs and Slovaks of the former Austro-Hungarian Empire merged to form Czechoslovakia. During the interwar years, having rejected a federal system, the new country's predominantly Czech leaders were frequently preoccupied with meeting the increasingly strident demands of other ethnic minorities within the republic, most notably the Slovaks, the Sudeten Germans, and the Ruthenians (Ukrainians). On the eve of World War II, Nazi Germany occupied the territory that today comprises Czechia, and Slovakia became an independent state allied with Germany. After the war, a reunited but truncated Czechoslovakia (less Ruthenia) fell within the Soviet sphere of influence. In 1968, an invasion by Warsaw Pact troops ended the efforts of the country's leaders to liberalize communist rule and create "socialism with a human face," ushering in a period of repression known as "normalization." The peaceful "Velvet Revolution" swept the Communist Party from power at the end of 1989 and inaugurated a return to democratic rule and a market economy. On 1 January 1993, the country underwent a nonviolent "velvet divorce" into its two national components, the Czech Republic and Slovakia. The Czech Republic joined NATO in 1999 and the European Union in 2004. The country changed its short-form name to Czechia in 2016.

Geography

Location:
Central Europe, between Germany, Poland, Slovakia, and Austria
Geographic coordinates:
49 45 N, 15 30 E
Map references:
Europe
Area:
total: 78,867 sq km
land: 77,247 sq km
water: 1,620 sq km
country comparison to the world: 117
Area - comparative:
about two-thirds the size of Pennsylvania; slightly smaller than South Carolina
Land boundaries:
total: 2,143 km
border countries (4): Austria 402 km, Germany 704 km, Poland 796 km, Slovakia 241 km
Coastline:
0 km (landlocked)
Maritime claims:
none (landlocked)
Climate:
temperate; cool summers; cold, cloudy, humid winters
Terrain:
Bohemia in the west consists of rolling plains, hills, and plateaus surrounded by low mountains; Moravia in the east consists of very hilly country
Elevation:
mean elevation: 433 m
elevation extremes: lowest point: Labe (Elbe) River 115 m
highest point: Snezka 1,602 m
Natural resources:
hard coal, soft coal, kaolin, clay, graphite, timber, arable land
Land use:
agricultural land: 54.8%
arable land 41%; permanent crops 1%; permanent pasture 12.8%
forest: 34.4%
other: 10.8% (2011 est.)
Irrigated land:
320 sq km (2012)
Population - distribution:
a fairly even distribution throughout most of the country, but the northern and eastern regions tend to have larger urban concentrations
Natural hazards:
flooding
Environment - current issues:
air and water pollution in areas of northwest Bohemia and in northern Moravia around Ostrava present health risks; acid rain damaging forests; efforts to bring industry up to EU code should improve domestic pollution
Environment - international agreements:
party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 85, Air Pollution-Sulfur 94, Air Pollution-Volatile Organic Compounds, Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
landlocked; strategically located astride some of oldest and most significant land routes in Europe; Moravian Gate is a traditional military corridor between the North European Plain and the Danube in central Europe

People & Society

Population:
10,674,723 (July 2017 est.)
country comparison to the world: 87
Nationality:
noun: Czech(s)
adjective: Czech
Ethnic groups:
Czech 64.3%, Moravian 5%, Slovak 1.4%, other 1.8%, unspecified 27.5% (2011 est.)
Languages:
Czech (official) 95.4%, Slovak 1.6%, other 3% (2011 census)
Religions:
Roman Catholic 10.4%, Protestant (includes Czech Brethren and Hussite) 1.1%, other and unspecified 54%, none 34.5% (2011 est.)
Age structure:
0-14 years: 15.16% (male 831,150/female 786,984)
15-24 years: 9.59% (male 527,232/female 496,530)
25-54 years: 43.84% (male 2,403,333/female 2,276,261)
55-64 years: 12.44% (male 646,106/female 681,541)
65 years and over: 18.98% (male 842,384/female 1,183,202) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 49.5
youth dependency ratio: 22.6
elderly dependency ratio: 26.9
potential support ratio: 3.7 (2015 est.)
Median age:
total: 42.1 years
male: 40.8 years
female: 43.4 years (2017 est.)
country comparison to the world: 33
Population growth rate:
0.12% (2017 est.)
country comparison to the world: 189
Birth rate:
9.3 births/1,000 population (2017 est.)
country comparison to the world: 203
Death rate:
10.5 deaths/1,000 population (2017 est.)
country comparison to the world: 31
Net migration rate:
2.3 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 41
Population distribution:
a fairly even distribution throughout most of the country, but the northern and eastern regions tend to have larger urban concentrations
Urbanization:
urban population: 73% of total population (2017)
rate of urbanization: 0.3% annual rate of change (2015-20 est.)
Major urban areas - population:
PRAGUE (capital) 1.314 million (2015)
Sex ratio:
at birth: 1.06 male(s)/female
0-14 years: 1.06 male(s)/female
15-24 years: 1.06 male(s)/female
25-54 years: 1.05 male(s)/female
55-64 years: 0.94 male(s)/female
65 years and over: 0.7 male(s)/female
total population: 0.97 male(s)/female (2016 est.)
Mother's mean age at first birth:
28.1 years (2014 est.)
Maternal mortality rate:
4 deaths/100,000 live births (2015 est.)
country comparison to the world: 180
Infant mortality rate:
total: 2.6 deaths/1,000 live births
male: 2.8 deaths/1,000 live births
female: 2.5 deaths/1,000 live births (2017 est.)
country comparison to the world: 217
Life expectancy at birth:
total population: 78.8 years
male: 75.8 years
female: 81.9 years (2017 est.)
country comparison to the world: 56
Total fertility rate:
1.45 children born/woman (2017 est.)
country comparison to the world: 203
Contraceptive prevalence rate:
86.3%
note: percent of women aged 18-44 (2008)
Health expenditures:
7.4% of GDP (2014)
country comparison to the world: 71
Physicians density:
3.68 physicians/1,000 population (2013)
Hospital bed density:
6.8 beds/1,000 population (2011)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 99.1% of population
rural: 99.2% of population
total: 99.1% of population
unimproved:
urban: 0.9% of population
rural: 0.8% of population
total: 0.9% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
<.1% (2016 est.)
HIV/AIDS - people living with HIV/AIDS:
3,400 (2016 est.)
country comparison to the world: 110
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
26% (2016)
country comparison to the world: 46
Education expenditures:
4.1% of GDP (2013)
country comparison to the world: 106
Literacy:
definition: NA
total population: 99%
male: 99%
female: 99% (2011 est.)
School life expectancy (primary to tertiary education):
total: 17 years
male: 16 years
female: 18 years (2014)
Unemployment, youth ages 15-24:
total: 12.6%
male: 11.3%
female: 14.4% (2015 est.)
country comparison to the world: 57

Government

Country name:
conventional long form: Czech Republic
conventional short form: Czechia
local long form: Ceska republika
local short form: Cesko
etymology: name derives from the Czechs, a West Slavic tribe who rose to prominence in the late 9th century A.D.
Government type:
parliamentary republic
Capital:
name: Prague
geographic coordinates: 50 05 N, 14 28 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
13 regions (kraje, singular - kraj) and 1 capital city* (hlavni mesto); Jihocesky (South Bohemia), Jihomoravsky (South Moravia), Karlovarsky (Karlovy Vary), Kralovehradecky (Hradec Kralove), Liberecky (Liberec), Moravskoslezsky (Moravia-Silesia), Olomoucky (Olomouc), Pardubicky (Pardubice), Plzensky (Pilsen), Praha (Prague)*, Stredocesky (Central Bohemia), Ustecky (Usti), Vysocina (Highlands), Zlinsky (Zlin)
Independence:
1 January 1993 (Czechoslovakia split into the Czech Republic and Slovakia); note - although 1 January is the day the Czech Republic came into being, the Czechs commemorate 28 October 1918, the day the former Czechoslovakia declared its independence from the Austro-Hungarian Empire, as their independence day
National holiday:
Czechoslovak Founding Day, 28 October (1918)
Constitution:
history: previous 1960; latest ratified 16 December 1992, effective 1 January 1993
amendments: passage requires at least three-fifths concurrence by members present in both houses of Parliament; amended several times, last in 2013 (2016)
Legal system:
new civil code enacted in 2014, replacing civil code of 1964 - based on former Austro-Hungarian civil codes and socialist theory - and reintroducing former Czech legal terminology
International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Czechia
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Milos ZEMAN (since 8 March 2013)
head of government: Prime Minister Bohuslav SOBOTKA (since 17 January 2014); First Deputy Prime Minister Richard BRABEC (since 24 May 2017) and Deputy Prime Minister Pavel BELOBRADEK (since 29 January 2014)
cabinet: Cabinet appointed by the president on the recommendation of the prime minister
elections/appointments: president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term (limited to 2 consecutive terms); elections last held on 11-12 January 2013 with a runoff on 25-26 January 2013 (next to be held in January 2018); prime minister appointed by the president for a 4-year term
election results: Milos ZEMAN elected president; percent of popular vote - Milos ZEMAN (SPO) 54.8%, Karel SCHWARZENBERG (TOP 09) 45.2%
Legislative branch:
description: bicameral Parliament or Parlament consists of the Senate or Senat (81 seats; members directly elected in single-seat constituencies by absolute majority vote in 2 rounds if needed; members serve 6-year terms with one-third of the membership renewed every 2 years) and the Chamber of Deputies or Poslanecka Snemovna (200 seats; members directly elected in 14 multi-seat constituencies by proportional representation vote with a 5% threshold required to fill a seat; members serve 4-year terms)
elections: Senate - last held in 2 rounds on 7-8 and 14-15 October 2016 (next to be held in October 2018); Chamber of Deputies - last held on 20-21 October 2017 (next to be held on October 2021)
election results: Senate - percent of vote by party - NA; CSSD 25, KDU-CSL 14, ODS 9, ANO 7, STAN 5, SZ 4, TOP 09 2, SLK 2, SZ 2, SPO 1, Movement for Prague 1, S.cz. 1, KSCM 1, other 5, independent 2; Chamber of Deputies - percent of vote by party - ANO 29.6%, ODS 11.3%, Pirates 10.8%, SPD 10.6%, KSCM 7.8%, CSSD 7.3%, KDU-CSL 5.8%, TOP 09 5.3%, STAN 5.2%, other 6.3%; seats by party - ANO 78, ODS 25, Pirates 22, SPD 22, KSCM 15, CSSD 15, KDU-CSL 10, TOP 09 7, STAN 6
note: Senate seats by party as of 20 May 2017 - CSSD 25, KDU-CSL 16, STAN and TOP 09 11, ODS 10, ANO 7, SPO 2, SZ 2, S.cz. 1, KSCM 1, Movement for Prague 1, independent 5
Judicial branch:
highest court(s): Supreme Court (organized into Civil Law and Commercial Division, and Criminal Division each with a court chief justice, vice justice, and several judges); Constitutional Court (consists of 15 justices); Supreme Administrative Court (consists of 28 judges)
judge selection and term of office: Supreme Court judges proposed by the Chamber of Deputies and appointed by the president; judges appointed for life; Constitutional Court judges appointed by the president and confirmed by the Senate; judges appointed for 10-year, renewable terms; Supreme Administrative Court judges selected by the president of the Court; unlimited terms
subordinate courts: High Court; superior, regional, and district courts
Political parties and leaders:
Christian Democratic Union-Czechoslovak People's Party or KDU-CSL [Pavel BELOBRADEK]
Civic Democratic Party or ODS [Petr FIALA]
Communist Party of Bohemia and Moravia or KSCM [Vojtech FILIP]
Czech Pirate Party or Pirates [Ivan BARTOS]
Czech Social Democratic Party or CSSD [Lubomir ZAORALEK]
Dawn - National Coalition or Usvit-NK [Miroslav LIDINSKY]
Free Citizens Party or Svobodni [Petr MACH]
Freedom and Direct Democracy or SPD [Tomio OKAMURA]
Green Party or SZ [Matej STROPNICKY]
Mayors and Independents or STAN [Petr GAZDIK]
Movement for Prague
Movement of Dissatisfied Citizens or ANO [Andrej BABIS]
Nestranici (Non-Partisans) or NK [Vera RYBOVA]
North Bohemians or S.cz [Bronislav SCHWARZ]
Party of Civic Rights or SPO [Jan VELEBA]
Tradition Responsibility Prosperity 09 or TOP 09 [Miroslav KALOUSEK]
Political pressure groups and leaders:
Czech-Moravian Confederation of Trade Unions or CMKOS [Josef STREDULA]
International organization participation:
Australia Group, BIS, BSEC (observer), CD, CE, CEI, CERN, EAPC, EBRD, ECB, EIB, ESA, EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MONUSCO, NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, SELEC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Hynek KMONICEK (since 24 April 2017)
chancery: 3900 Spring of Freedom Street NW, Washington, DC 20008
telephone: [1] (202) 274-9100
FAX: [1] (202) 966-8540
consulate(s) general: Chicago, Los Angeles, New York
Diplomatic representation from the US:
chief of mission: Ambassador (vacant); Charge d'Affaires Stephen B. KING (since 2017)
embassy: Trziste 15, 118 01 Prague 1 - Mala Strana
mailing address: use embassy street address
telephone: [420] 257 022 000
FAX: [420] 257 022 809
Flag description:
two equal horizontal bands of white (top) and red with a blue isosceles triangle based on the hoist side
note: combines the white and red colors of Bohemia with blue from the arms of Moravia; is identical to the flag of the former Czechoslovakia
National symbol(s):
silver (or white), double-tailed, rampant lion; national colors: white, red, blue
National anthem:
name: "Kde domov muj?" (Where is My Home?)
lyrics/music: Josef Kajetan TYL/Frantisek Jan SKROUP
note: adopted 1993; the anthem was originally written as incidental music to the play "Fidlovacka" (1834), it soon became very popular as an unofficial anthem of the Czech nation; its first verse served as the official Czechoslovak anthem beginning in 1918, while the second verse (Slovak) was dropped after the split of Czechoslovakia in 1993

Economy

Economy - overview:
Czechia is a prosperous market economy that boasts one of the highest GDP growth rates and lowest unemployment levels in the EU, but its dependence on exports makes economic growth vulnerable to contractions in external demand. Czechia’s exports comprise some 80% of GDP and largely consist of automobiles, the country’s single largest industry. Czechia acceded to the EU in 2004 but has yet to join the euro-zone. While the flexible koruna helps Czechia weather external shocks, its central bank (Czech National Bank - CNB) has since November 2013 intervened in the foreign exchange markets to cap the value of the koruna at 27/Euro, with a 2% inflation target. This intervention has also helped to keep exports competitively priced. After inflation exceeded the bank's 2% target in early 2017, the CNB indicated it expects to end its intervention in the first half of 2017, though it will continue to intervene as necessary to maintain stability of the currency.
After slowly recovering from a steep recession in 2009, the Czech economy again fell into recession in 2012 and 2013 because of a slump in demand within the EU and government austerity measures. Inflows of EU development funds underpinned a rebound in 2014-15. Real GDP growth reached 4.5% in 2015, in part due to last-minute spending of EU funds, and fell to 2.5% in 2016, still one of the highest rates in the EU. The Czech unemployment rate was 5.2% in 2016, one of the lowest rates in the EU.
Since coming to power in 2014, the new government has undertaken some reforms to try to reduce corruption, attract investment, and improve social welfare programs, which could help increase the government’s revenues and improve living conditions for Czechs. The government introduced in December 2016 an online tax reporting system intended to reduce tax evasion and increase revenues. The government also plans to remove labor market rigidities to improve the business climate, bring procurement procedures in line with EU best practices, and boost wages. The country's low unemployment rate has led to steady increases in salaries – 4-5% in each of the past two years, and the government is facing pressure from businesses to allow greater migration of qualified workers, at least from Ukraine and neighboring Central European countries.
Long-term challenges include dealing with a rapidly aging population, a shortage of skilled workers, a lagging education system, 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):
$353.9 billion (2016 est.)
$340.6 billion (2015 est.)
$319.9 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 51
GDP (official exchange rate):
$195.3 billion (2016 est.)
GDP - real growth rate:
2.6% (2016 est.)
5.3% (2015 est.)
2.7% (2014 est.)
country comparison to the world: 118
GDP - per capita (PPP):
$33,500 (2016 est.)
$32,700 (2015 est.)
$31,200 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 57
Gross national saving:
27.4% of GDP (2016 est.)
28.2% of GDP (2015 est.)
26.1% of GDP (2014 est.)
country comparison to the world: 39
GDP - composition, by end use:
household consumption: 47%
government consumption: 19.2%
investment in fixed capital: 25%
investment in inventories: 1.3%
exports of goods and services: 79.5%
imports of goods and services: -72% (2016 est.)
GDP - composition, by sector of origin:
agriculture: 2.5%
industry: 37.5%
services: 60% (2016 est.)
Agriculture - products:
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry
Industries:
motor vehicles, metallurgy, machinery and equipment, glass, armaments
Industrial production growth rate:
3.5% (2016 est.)
country comparison to the world: 66
Labor force:
5.35 million (2016 est.)
country comparison to the world: 76
Labor force - by occupation:
agriculture: 2.8%
industry: 38%
services: 59.2% (2015)
Unemployment rate:
4% (2016 est.)
5.1% (2015 est.)
country comparison to the world: 45
Population below poverty line:
9.7% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%: 21.7% (2015 est.)
Distribution of family income - Gini index:
25 (2015)
25.1 (2014)
country comparison to the world: 144
Budget:
revenues: $78.09 billion
expenditures: $76.96 billion (2016 est.)
Taxes and other revenues:
40.5% of GDP (2016 est.)
country comparison to the world: 38
Budget surplus (+) or deficit (-):
0.6% of GDP (2016 est.)
country comparison to the world: 32
Public debt:
36.8% of GDP (2016 est.)
39.9% of GDP (2015 est.)
country comparison to the world: 142
Fiscal year:
calendar year
Inflation rate (consumer prices):
0.7% (2016 est.)
0.3% (2015 est.)
country comparison to the world: 75
Central bank discount rate:
0.05% (31 December 2016)
0.05% (31 December 2015)
note: this is the two-week repo, the main rate CNB uses
country comparison to the world: 146
Commercial bank prime lending rate:
3.91% (31 December 2016 est.)
4.28% (31 December 2015 est.)
country comparison to the world: 159
Stock of narrow money:
$133.5 billion (31 December 2016 est.)
$124.9 billion (31 December 2015 est.)
country comparison to the world: 29
Stock of broad money:
$148.7 billion (31 December 2016 est.)
$144.1 billion (31 December 2015 est.)
country comparison to the world: 46
Stock of domestic credit:
$124.3 billion (31 December 2016 est.)
$127.5 billion (31 December 2015 est.)
country comparison to the world: 52
Market value of publicly traded shares:
$44.5 billion (31 December 2016 est.)
$39.91 billion (31 December 2015 est.)
$45.63 billion (31 December 2014 est.)
country comparison to the world: 55
Current account balance:
$2.154 billion (2016 est.)
$461 million (2015 est.)
country comparison to the world: 34
Exports:
$131.1 billion (2016 est.)
$128.2 billion (2015 est.)
country comparison to the world: 34
Exports - commodities:
machinery and transport equipment, raw materials, fuel, chemicals
Exports - partners:
Germany 32.4%, Slovakia 8.4%, Poland 5.8%, UK 5.2%, France 5.2%, Italy 4.3%, Austria 4.2% (2016)
Imports:
$120.8 billion (2016 est.)
$120.5 billion (2015 est.)
country comparison to the world: 33
Imports - commodities:
machinery and transport equipment, raw materials and fuels, chemicals
Imports - partners:
Germany 30.6%, Poland 9.6%, China 7.5%, Slovakia 6.3%, Netherlands 5.3%, Italy 4.1% (2016)
Reserves of foreign exchange and gold:
$85.73 billion (31 December 2016 est.)
$64.49 billion (31 December 2015 est.)
country comparison to the world: 27
Debt - external:
$138 billion (31 December 2016 est.)
$129.2 billion (31 December 2015 est.)
country comparison to the world: 43
Stock of direct foreign investment - at home:
$139.6 billion (31 December 2016 est.)
$140.3 billion (31 December 2015 est.)
country comparison to the world: 37
Stock of direct foreign investment - abroad:
$43.09 billion (31 December 2016 est.)
$42.26 billion (31 December 2015 est.)
country comparison to the world: 45
Exchange rates:
koruny (CZK) per US dollar -
24.44 (2016 est.)
24.44 (2015 est.)
24.599 (2014 est.)
20.758 (2013 est.)
19.59 (2012 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
77.74 billion kWh (2015 est.)
country comparison to the world: 39
Electricity - consumption:
61.16 billion kWh (2015 est.)
country comparison to the world: 43
Electricity - exports:
24.79 billion kWh (2016 est.)
country comparison to the world: 8
Electricity - imports:
13.82 billion kWh (2016 est.)
country comparison to the world: 19
Electricity - installed generating capacity:
21.51 million kW (2015 est.)
country comparison to the world: 41
Electricity - from fossil fuels:
56.6% of total installed capacity (2015 est.)
country comparison to the world: 139
Electricity - from nuclear fuels:
18.3% of total installed capacity (2015 est.)
country comparison to the world: 9
Electricity - from hydroelectric plants:
5.1% of total installed capacity (2015 est.)
country comparison to the world: 129
Electricity - from other renewable sources:
14.5% of total installed capacity (2015 est.)
country comparison to the world: 50
Crude oil - production:
2,333 bbl/day (2016 est.)
country comparison to the world: 87
Crude oil - exports:
518.7 bbl/day (2016 est.)
country comparison to the world: 75
Crude oil - imports:
105,800 bbl/day (2016 est.)
country comparison to the world: 44
Crude oil - proved reserves:
15 million bbl (1 January 2017 es)
country comparison to the world: 89
Refined petroleum products - production:
121,000 bbl/day (2016 est.)
country comparison to the world: 64
Refined petroleum products - consumption:
180,400 bbl/day (2016 est.)
country comparison to the world: 59
Refined petroleum products - exports:
49,000 bbl/day (2016 est.)
country comparison to the world: 55
Refined petroleum products - imports:
103,200 bbl/day (2016 est.)
country comparison to the world: 57
Natural gas - production:
247 million cu m (2015 est.)
country comparison to the world: 76
Natural gas - consumption:
11.51 billion cu m (2015 est.)
country comparison to the world: 52
Natural gas - exports:
1 million cu m (2014 est.)
country comparison to the world: 56
Natural gas - imports:
7.474 billion cu m (2015 est.)
country comparison to the world: 30
Natural gas - proved reserves:
3.964 billion cu m (1 January 2017 es)
country comparison to the world: 97
Carbon dioxide emissions from consumption of energy:
103 million Mt (2013 est.)
country comparison to the world: 39

Communications

Telephones - fixed lines:
total subscriptions: 1,682,194
subscriptions per 100 inhabitants: 16 (July 2016 est.)
country comparison to the world: 60
Telephones - mobile cellular:
total: 12,484,885
subscriptions per 100 inhabitants: 117 (July 2016 est.)
country comparison to the world: 70
Telephone system:
general assessment: good telephone and Internet service; there are three major mobile phone providers, though the government is facing criticism for failing to promote sufficient competition, with critics complaining that Czech mobile phone and data prices are among the highest in the EU
domestic: access to the fixed-line telephone network expanded throughout the 1990s, but the number of fixed-line connections has been dropping since then; mobile telephone usage increased sharply beginning in the mid-1990s, and the number of cellular telephone subscriptions now greatly exceeds the population
international: country code - 420; satellite earth stations - 6 (2 Intersputnik - Atlantic and Indian Ocean regions, 1 Intelsat, 1 Eutelsat, 1 Inmarsat, 1 Globalstar) (2017)
Broadcast media:
roughly 130 TV broadcasters operating some 350 channels with 4 publicly operated and the remainder in private hands; 16 TV stations have national coverage with 4 being publicly operated; cable and satellite TV subscription services are available; 63 radio broadcasters are registered operating roughly 80 radio stations with 15 stations publicly operated; 10 radio stations provide national coverage with the remainder local or regional (2008)
Internet country code:
.cz
Internet users:
total: 8,141,303
percent of population: 76.5% (July 2016 est.)
country comparison to the world: 49

Transportation

National air transport system:
number of registered air carriers: 4
inventory of registered aircraft operated by air carriers: 48
annual passenger traffic on registered air carriers: 4,971,616
annual freight traffic on registered air carriers: 26,619,650 mt-km (2015)
Civil aircraft registration country code prefix:
OK (2016)
Airports:
128 (2013)
country comparison to the world: 46
Airports - with paved runways:
total: 41
over 3,047 m: 2
2,438 to 3,047 m: 9
1,524 to 2,437 m: 12
914 to 1,523 m: 2
under 914 m: 16 (2017)
Airports - with unpaved runways:
total: 87
1,524 to 2,437 m: 1
914 to 1,523 m: 25
under 914 m: 61 (2013)
Heliports:
1 (2013)
Pipelines:
gas 7,160 km; oil 536 km; refined products 94 km (2013)
Railways:
total: 9,621.5 km
standard gauge: 9,519.5 km 1.435-m gauge (3,240.5 km electrified)
narrow gauge: 102 km 0.760-m gauge (2014)
country comparison to the world: 24
Roadways:
total: 130,661 km (includes urban roads)
paved: 130,661 km (includes 730 km of expressways) (2011)
country comparison to the world: 40
Waterways:
664 km (principally on Elbe, Vltava, Oder, and other navigable rivers, lakes, and canals) (2010)
country comparison to the world: 76
Merchant marine:
registered in other countries: 1 (Saint Vincent and the Grenadines 1) (2010)
country comparison to the world: 151
Ports and terminals:
river port(s): Prague (Vltava); Decin, Usti nad Labem (Elbe)

Military & Security

Military expenditures:
0.98% of GDP (2016)
0.96% of GDP (2015)
0.97% of GDP (2014)
0.99% of GDP (2013)
1.03% of GDP (2012)
country comparison to the world: 94
Military branches:
Army of the Czech Republic (Armada Ceske Republiky): General Staff (Generalni Stab, includes Land Forces (Pozemni Sily) and Air Forces (Vzdusne Sily)) (2015)
Military service age and obligation:
18-28 years of age for male and female voluntary military service; no conscription (2012)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
stateless persons: 1,502 (2016)
Illicit drugs:
transshipment point for Southwest Asian heroin and minor transit point for Latin American cocaine to Western Europe; producer of synthetic drugs for local and regional markets; susceptible to money laundering related to drug trafficking, organized crime; significant consumer of ecstasy

Economic Indicators for Czech Republic including actual values, historical data, and latest data updates for the Czech Republic economy.