We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. As of 2018, the Czech GDP per capita at purchasing power parity is $37,370  and $22,850 at nominal value. Online tool for visualization and analysis. ): $18,487 (2016) Inflation: 0.7% (2016) Now completed, the program has made Czechs, who own shares of each of the Czech companies, one of the highest per-capita share owners in the world. From the financial crisis of 2007–2010, Czech Republic is in stagnation or decreasing of GDP.  The Czech healthcare system ranks 13th in the 2016 Euro health consumer index. Unemployment: 2,3% (September 2018), Industrial production growth rate: 3.5% (2016), Household income or consumption by percentage share: (2015), Exports: $136.1 billion GDP Growth: 2.6% (2016) Czech Consumer Sentiment Deteriorates in October, Czech Producer Prices Drop Less than Expected, Czech Crown Depreciates on New Covid-19 Restrictions, Czech September Inflation Rate Below Forecasts, Czech Construction Output Falls for 6th Month, Czech Industrial Output Drops More than Expected in August, Czech Jobless Rate Remains at Near 2-Year High, China Services Growth at 7-Year High: NBS, China Manufacturing Expands for 8th Month: NBS, Dollar Up for 3rd Day to Book Best Week in a Month, US Stocks Plunge, Book Worst Week Since March, TSX Drops on Friday, Books 4.5% Weekly Loss, Brent Crude Down for 3rd Day to Book Biggest Weekly Loss since April.  On 29 May 2015, it was announced that growth of the Czech economy has increased from calculated 3,9% to 4,2%. In 2013, Czech National Bank, central bank, implemented controversial monetary step. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page.  Dividends worth CZK 289 billion were paid to the foreign owners of Czech companies in 2016.. Growth in 2000–05 was supported by exports to the EU, primarily to Germany, and a strong recovery of foreign and domestic investment. GDP per capita (nom. Recent accession to the EU gives further impetus and direction to structural reform. From 2008 to 2012, the public debt of Czech Republic increased by 18,9%. Another problem is foreign trade. The government established a restructuring agency in 1999 and launched a revitalization program – to spur the sale of firms to foreign companies. Inflation has been higher than in some other countries – mostly in the 10% range – and the government has run consistent modest budget deficits. Small enterprises sales decreased by 21% from 2012 to 2013 as result of increasing VAT. Koruna obratem zpevnila pod 25 za euro, "Milion Čechů žije pod hranicí chudoby. In the middle of 2009, the annual drop of the GDP for 2009 was estimated around 3% or 4.3%, a relatively modest decrease. 10Y 25Y This followed a worldwide trend to divest from developing countries that year. Import partners: Germany 30.6%, Poland 9.6%, China 7.5%, Slovakia 6.3%, Netherlands 5.3%, Italy 4.1% (2016) Most Recent Year. All Countries and Economies. Selected Countries and Economies. The major services are research and development, ICT and software development, nanotechnology and life sciences among others. The Czech Republic also receives €24.2bn between 2014–20 from the European Structural and Investment Funds, however, this sum does not outweigh the amount of capital outflow of profits of foreign owned firms from the Czech Republic into other EU members, at which the funds are aimed to compensate for. Moreover, unlike many other post-communist countries, an overwhelming majority of the household debt – over 99% – is denominated in the local Czech currency. Country . GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. Some commenters and economists criticising fiscally conservative policy of Petr Nečas' right-wing government, especially criticising ex-minister of finance, Miroslav Kalousek. The Czech Republic has a well-educated population and a densely developed infrastructure. GDP per capita (pp. The economy of the Czech Republic is a developed export-oriented social market economy based in services, manufacturing, and innovation, that maintains a high-income welfare state and the European social model. The Czech Republic ranks 13th in inequality-adjusted human development and 14th in World Bank Human Capital Index ahead of countries such as the United States, the United Kingdom or France. The Gross Domestic Product per capita in Czech Republic was last recorded at 23833.50 US dollars in 2019. The Czech Republic has a highly diverse economy that ranks 9th in the 2017 Economic Complexity Index. That's why the country wasn't affected by the shrunken money supply in the U.S. dollars. Agriculture: 2.5% From 4Q 2009 to 1Q 2013, GDP decreased by 7,8%. 1990-2019 Data | 2020-2022 Forecast | Historical. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Current account deficits of around 5% of GDP are beginning to decline as demand for Czech products in the European Union increases. Coal-powered energy is planned to fall to 21%, while renewables would rise to 25% and gas range from 5 to 15%. From 2009 to 2012, Czech Republic suffered highest state budget deficits in history of independent Czech Republic. In early 2004 the government passed increases in the Value Added Tax (VAT) and tightened eligibility for social benefits with the intention to bring the public finance gap down to 4% of GDP by 2006, but more difficult pension and healthcare reforms will have to wait until after the next elections. Czech Republic gdp per capita for 2018 was $23,047, a 13.09% increase from 2017. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. Data are in current U.S. dollars. Progress toward creating a stable investment climate was recognized when the Czech Republic became the first post-communist country to receive an investment-grade credit rating by international credit institutions. Czech Investment Abroad: $43.09 billion (31 December 2016) The older station of the two, Dukovany, is to be expanded before Temelín. After the occupation and forced subordination of the economy to German economic interests, the crown was officially pegged to the mark at a ratio of 1:10, even though the unofficial exchange rate was 1 to 6-7 and Germans immediately started buying Czech goods in large quantities.. Help us improve this site Help / Feedback. External debt: $138 billion (31 December 2016) , The consequences of the 1938 Munich Agreement and subsequent occupation were disastrous for the economy. Within five years, Czechia should also surpass New Zealand and Japan. The Czech Republic is considered an export economy (the Czech Republic has strong machinery and automobile industries), however in 2013, foreign trade rapidly decreased which led to many other problems and increase of state budget deficit. It is a member of the OECD. Czechia: The GDP (gross domestic product) in Czechia is forecast to amount to US$247.97bn in 2024. Do Ruska jde minimum, Podíl dovozu ze zemí EU 28 na celkovém dovozu (%), "International investment position statistics - Statistics Explained", "GDP, government deficit/surplus and debt in the EU (in national currencies)", "Scope affirms the Czech Republic's AA ratings with a Stable Outlook", Analysing the Welfare State in Poland, the Czech Republic, Hungary and Slovenia: An Ideal-Typical Perspective, Czech democracy ‘under threat’ from rising debt crisis, Unemployment rates, seasonally adjusted, March 2018 (%), Israel and the US have the highest poverty rates in the developed world, 2018 Index of Economic Freedom Country Rankings, https://www.globalinnovationindex.org/gii-2016-report#, "Earth Times: show/278536,czech-economy-to-shrink-by-43-per-cent-in-2009.html", "Miroslav Kalousek: Moná vás zklamu: krize nám nehrozí", "Služby - vývoj tržeb ve službách v ČR, 2015", "Česká ekonomika roste nejrychleji v celé EU", "Tvorba a užití HDP - 1. čtvrtletí 2015, Rychlejší růst české ekonomiky potvrzen (in Czech)", "Czechs Power EU's Fastest GDP Growth as Romania, Hungary Stumble", "Nezaměstnanost v říjnu opět klesla, lidí bez práce je nejméně od února 2009", Czech foreign owned companies take second biggest dividend yield in 2017:report, European Structural and Investment Funds: Country factsheet - Czech Republic, Germany’s troubled relations with the Visegrad states show the limits to its power, Češi loni spotřebovali rekordní množství elektřiny. A nation’s economy refers to the macroeconomic indicators of the country. In order to stimulate the economy and attract foreign partners, the government has revamped the legal and administrative structure governing investment. This is in contrast to Russian privatization, which consisted of sales of communal assets to private companies rather than share-transfer to citizens. The country's economic transformation was far from complete. However, as a large exporter, the economy was sensitive to the decrease of the demand in Germany and other trading partners. In 2014, GDP in the Czech Republic increased by 2% and is predicted to increase by 2.7% in 2015. Most decrease of industrial output was in construction industry (-25% in 2009, -15,5% in 2013). , The "Velvet Revolution" in 1989, offered a chance for profound and sustained political and economic reform.  Czech Republic ranks 24th in both the Index of Economic Freedom (ranked behind Norway) and the Global Innovation Index (ranked behind Australia), 29th in the Global Competitiveness Report, 30th in the ease of doing business index and 25th in the Global Enabling Trade Report (ranked behind Canada). Publish your articles and forecasts in our website. In 2012, Czech government increased VAT. ): $353.9 billion (2016) GDP per capita is gross domestic product divided by midyear population. The First Republic became one of the 10 most developed countries of the world (behind the U.S., Canada, Australia, Switzerland, Argentina, Britain, France, Sweden and Belgium). Miroslav Kalousek in a 2008 interview, as minister of finance in the center-right government of Mirek Topolánek, said "Czech Republic will not suffer by financial crisis". The GDP per Capita in Czech Republic is equivalent to 189 percent of the world's average. GDP (nom. Reserves: $85.73 billion (31 December 2016) Czechoslovakia was the most prosperous country in the Eastern Bloc, however it continued to lag further behind the rest of the developed world.