Czech Republic - Nominal Gross Domestic Product

Czech Republic: Nominal Gross Domestic Product

Mnemonic GDP.ICZE
Unit Mil. CZK, CDASA
Adjustments Calendar Adjusted and Seasonally Adjusted
Quarterly 1.33 %
Data 2019 Q3 1,424,211
2019 Q2 1,405,559

Series Information

Source The Czech Statistical Office (CZSO)
Release National accounts
Frequency Quarterly
Start Date 3/31/1995
End Date 9/30/2019

Czech Republic: GDP

Reference Last Previous Units Frequency
Government Consumption 2019 Q3 293,081 287,094 Mil. CZK, SA Quarterly
Investment 2019 Q3 366,514 350,786 Mil. CZK, CDASA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2019 Q3 358,458 353,891 Mil. CZK, CDASA Quarterly
Nominal Gross Domestic Product 2019 Q3 1,424,211 1,405,559 Mil. CZK, CDASA Quarterly
Private Consumption 2019 Q3 662,927 657,896 Mil. CZK, CDASA Quarterly
Real Fixed Investment (gross fixed capital formation) 2019 Q3 315,970 316,905 Mil. Ch. 2010 CZK, CDASA Quarterly
Real Government Consumption 2019 Q3 232,567 230,187 Mil. Ch. 2010 CZK, SA Quarterly
Real Gross Domestic Product 2019 Q3 1,219,111 1,214,692 Mil. Ch. 2010 CZK, CDASA Quarterly
Real Investment 2019 Q3 326,198 316,347 Mil. Ch. 2010 CZK, CDASA Quarterly
Real Private Consumption 2019 Q3 575,965 575,838 Mil. Ch. 2010 CZK, CDASA Quarterly

Release Information

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 % it increased (or decreased) in real terms during surveyed quarter against the same quarter of the previous year.

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.

Within every regular quarterly estimate, revisions of results for previous preiods 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.

Moody's Analytics seasonally adjusts the data and makes this available along with the data as published by the national source.