Browse a full set of economic indicators

Czech Republic

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

Inflation & Debt

Inflation 2017 2.5%
2018 2.1%
2019 2.8%
2020* 3.2%
2021* 2.7%

*Estimate
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
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.)
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
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

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