Economy Of Czech Republic
|
Economy overview
|
One of the most stable and prosperous of the post-Communist states, the Czech Republic has been recovering from recession since mid-1999. Growth in 2000-03 was supported by exports to the EU, primarily to Germany, and a near doubling of foreign direct investment. Domestic demand is playing an ever more important role in underpinning growth as interest rates drop and the availability of credit cards and mortgages increases. High current account deficits - averaging around 5% of GDP in the last several years - could be a persistent problem. Inflation is under control. The EU put the Czech Republic just behind Poland and Hungary in preparations for accession, which will give further impetus and direction to structural reform. Moves to complete banking, telecommunications, and energy privatization will encourage additional foreign investment, while intensified restructuring among large enterprises and banks, and improvements in the financial sector, should strengthen output growth. Nonetheless, revival in the European economies remains essential to stepped-up growth.
|
|
GDP
|
purchasing power parity - $161.1 billion (2004 est.)
|
|
GDP - real growth rate
|
2.9% (2004 est.)
|
|
GDP - per capita
|
purchasing power parity - $15,700 (2004 est.)
|
|
GDP - composition by sector
|
agriculture: 3.1%
industry: 35.5%
services: 61.4% (2004 est.)
|
|
Investment gross fixed
|
26% of GDP (2004 est.)
|
|
Population below poverty line
|
NA
|
|
Household income or consumption by percentage share
|
lowest 10%: 4.3%
highest 10%: 22.4% (1996)
|
|
Distribution of family income - Gini index
|
25.4 (1996)
|
|
Inflation rate consumer prices
|
0.1% (2004 est.)
|
|
Labor force
|
5.25 million (2004 est.)
|
|
Labor force by occupation
|
agriculture 5%, industry 35%, services 60% (2001 est.)
|
|
Unemployment rate
|
9.9% (2004 est.)
|
|
Budget
|
revenues: $33.25 billion
expenditures: $38.88 billion, including capital expenditures of NA (2004 est.)
|
|
Public debt
|
29.7% of GDP (2004 est.)
|
|
Agriculture products
|
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry
|
|
Industries
|
metallurgy, machinery and equipment, motor vehicles, glass, armaments
|
|
Industrial production growth rate
|
3.3% (2004 est.)
|
|
Electricity production
|
70.04 billion kWh (2001)
|
|
Electricity production by source
|
fossil fuel: 76.1%
hydro: 2.9%
other: 1% (2001)
nuclear: 20%
|
|
Electricity consumption
|
55.6 billion kWh (2001)
|
|
Electricity exports
|
18.92 billion kWh (2001)
|
|
Electricity imports
|
9.38 billion kWh (2001)
|
|
Oil production
|
7,419 bbl/day (2001 est.)
|
|
Oil consumption
|
175,700 bbl/day (2001 est.)
|
|
Oil exports
|
26,670 bbl/day (2001)
|
|
Oil imports
|
192,300 bbl/day (2001)
|
|
Oil proved reserves
|
17.25 million bbl (1 January 2002)
|
|
Natural gas production
|
160 million cu m (2001 est.)
|
|
Natural gas consumption
|
9.892 billion cu m (2001 est.)
|
|
Natural gas exports
|
1 million cu m (2001 est.)
|
|
Natural gas imports
|
9.521 billion cu m (2001 est.)
|
|
Natural gas proved reserves
|
3.057 billion cu m (1 January 2002)
|
|
Current account balance
|
$-5.57 billion (2004 est.)
|
|
Exports
|
$46.77 billion f.o.b. (2004 est.)
|
|
Exports commodities
|
machinery and transport equipment 44%, intermediate manufactures 25%, chemicals 7%, raw materials and fuel 7% (2000)
|
|
Exports partners
|
Germany 37.1%, Slovakia 8%, Austria 6.3%, UK 5.4%, Poland 4.8%, France 4.7%, Italy 4.5%, Netherlands 4.1% (2003)
|
|
Imports
|
$50.4 billion f.o.b. (2003 est.)
|
|
Imports commodities
|
machinery and transport equipment 40%, intermediate manufactures 21%, raw materials and fuels 13%, chemicals 11% (2000)
|
|
Imports partners
|
Germany 32.6%, Italy 5.3%, China 5.2%, Slovakia 5.2%, France 4.9%, Russia 4.6%, Austria 4.3%, Poland 4.2% (2003)
|
|
Reserves of foreign exchange gold
|
$26.8 billion (2004 est.)
|
|
Debt external
|
$28 billion (2004 est.)
|
|
Economic aid recipient
|
$108 million; EU structural adjustment funds (2002)
|
|
Currency
|
Czech koruna (CZK)
|
|
Currency code
|
CZK
|
|
Exchange rates
|
koruny per US dollar - 28.209 (2003), 32.7385 (2002), 38.0353 (2001), 38.5984 (2000), 34.5692 (1999)
|
|
Fiscal year
|
calendar year
|
Applied Language Solutions offer English to Czech Translation .
This information was reproduced in part from the CIA World Fact book.
Flags
If you would like to use this flag of Czech Republic or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Map
If you would like to use this map of Czech Republic or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.
Country Information
If you would like to use this information for Czech Republic or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page. Please click here for information.