Includes The Czech Republic real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Czech Republic economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of The Czech Republic best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Prague)
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | Czech National Bank |
---|---|
Currency | Koruny (CZK) |
International Reserves |
USD 166.12 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 276.91 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 469.07 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 5.2% 2018 3.2% 2019 3% 2020* -5.8% 2021* 3.8% *Estimate |
---|---|
GDP per capita – current prices |
USD 25,806.38 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 43,713.66 (2021 estimate) IMF – World Economic Outlook, October 202 |
GDP (PPP) – share of world total | 0.32% (2021 estimate) |
GDP – composition by sector |
agriculture: 1.9% industry: 30.8% services: 58.3% (2018 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | 1.9% (2019) |
Inflation |
2017 2.5% 2018 2.1% 2019 2.8% 2020* 3.2% 2021* 2.7% *Estimate |
The Czech Republic
Inflation & Debt
Inflation |
2017 2.5% 2018 2.1% 2019 2.8% 2020* 3.2% 2021* 2.7% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: AA– Moody’s: Aa3 Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 2.5% 2018 2.1% 2019 2.8% 2020* 3.2% 2021* 2.7% *Estimate |
Household saving rates | 16.9% (2020) |
Public debt (General government gross debt as a % of GDP) |
2017 34.2% 2018 32.1% 2019 30% 2020* 37.8% 2021* 45% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 2.1% 2018 1.5% 2019 0.8% 2020* -5.5% 2021* -7.3% *Estimate |
Market value of publicly traded shares | USD 26.6 billion (2020) |
Largest Companies | CEZ Group |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
71% (2020) World Bank – World Development Indicators (updated Feb 2022) |
---|---|
Shares in world total merchandising export | 1.1% (2020) |
Shares in world total commercial services export | 0.5% (2020) |
Total exports | USD 174.6 billion (2020 estimate) |
Export commodities | Cars and vehicle parts, computers, broadcasting equipment, office machinery/parts, seating (2019) |
Total imports |
USD 157.7 billion (2020 estimate) |
Import commodities | Broadcasting equipment, cars and vehicle parts, office machinery/parts, computers, packaged medicines (2019) |
Exports – major partners | Germany 31%, Slovakia 7%, Poland 6%, France 5% (2019) |
Imports – major partners |
Germany 27%, China 12%, Poland 9%, Slovakia 5% (2019) |
Competitiveness & Trade
Current account balance |
USD 4.3 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
---|---|
Current account balance by percentage of GDP |
1.6% (2021 estimate) IMF – World Economic Outlook, October 2021 |
FDI inflows |
2018 USD 11 billion 2019 USD 10.1 billion 2020 USD 6.3 billion |
FDI Outflows |
2018 USD 8.6 billion 2019 USD 4.1 billion 2020 USD 3.1 billion |
Value of cross-border M&A, by country of purchaser |
2017 USD 44 million 2018 USD 154 million 2019 USD 246 million 2020 USD 302 million |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: Starting a Business: 134 out of 190 countries Dealing with Construction Permits: 157 out of 190 countries Getting Electricity: 11 out of 190 countries Registering Property: 32 out of 190 countries Getting Credit: 48 out of 190 countries Protecting Minority Investors: 61 out of 190 countries Paying Taxes: 53 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 103 out of 190 countries Resolving Insolvency: 16 out of 190 countries World Bank – Doing Business 2020 |
Global competitiveness ranking |
10 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 21 / Score: 74.4 (Mostly Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
Total Area | 78,867 sq km |
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Total Population |
1990 10.3 Million 2000 10.3 Million 2010 10.5 Million 2015 10.5 Million 2020 10.7 Million |
Urban population as % of total population |
1960 59.5% 1980 75.2% 2000 74% 2020 74.1% |
Population median age | 43.3 years |
Population growth rate | 0.02% (2022 est.) |
Life expectancy | 79.7 years (2022 est.) |
% of population living on less than $3.10 a day | 0% (last available estimate, 2019) |
Inequality of wealth distribution (Gini index) |
25.3 (last available estimate, 2019) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Total score: 91/100 Status: Free Political Rights: 36/40 Civil Liberties: 55/60 (2022) |
Total telephone subscribers as % of population |
Fixed: 12.5% Mobile: 121.4% (2020) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 81.3% (2020) |
Language & Religon
Languages | Czech (official) 95.4%, Slovak 1.6%, other 3% (2011 est.) |
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Literacy |
Total population: 99% Male: 99% Female: 99% (2011) Definition: NA |
Religions | Roman Catholic 10.4%, Protestant (includes Czech Brethren and Hussite) 1.1%, other and unspecified 54%, none 34.5% (2011 est.) |
World Rankings
Population | 10.7 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita |
9.6 metric tons per capita (2018) |
Global Finance Rankings & Awards: The Czech Republic
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000