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Czech Republic Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Czech Republic Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 23,

Economy - overview:
The Czech Republic is a stable and prosperous market economy, which harmonized its laws and regulations with those of the EU prior to its EU accession in 2004. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains very sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell 4.1% in 2009, with most of the decline occurring during the first quarter. Real GDP, however, has slowly recovered with positive quarter-on-quarter growth starting in the second half of 2009 and continuing throughout 2011. The auto industry remains the largest single industry and, together with its suppliers, accounts for as much as 20% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. Foreign and domestic businesses alike voice concerns about corruption, especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

GDP (purchasing power parity):
$272.2 billion (2011 est.)
country comparison to the world: 46

$267.3 billion (2010 est.)
$261.2 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$220.3 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.8% (2011 est.)
country comparison to the world: 162

2.3% (2010 est.)
-4.1% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$25,900 (2011 est.)
country comparison to the world: 52

$25,400 (2010 est.)
$25,000 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 2.2%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 38.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 59% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
5.545 million (2011 est.)
country comparison to the world: 69
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 38.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 58.3% (2009)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.5% (2011 est.)
country comparison to the world: 100

9% (2010 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA (2009)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
26 (2005)
country comparison to the world: 133

25.4 (1996)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22% of GDP (2011 est.)
country comparison to the world: 91
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $87.25 billion
[see also: Budget revenues country ranks ]
expenditures: $97.03 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
39.6% of GDP (2011 est.)
country comparison to the world: 46
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.4% of GDP (2011 est.)
country comparison to the world: 135
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
39.9% of GDP (2011 est.)
country comparison to the world: 76

37.6% of GDP (2010 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.9% (2011 est.)
country comparison to the world: 18

1.5% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.75% (31 December 2010 est.)
country comparison to the world: 132

1% (31 December 2009 est.)
note: the two-week repo rate was 0.75% on 31 December 2010; this is the main rate CNB uses
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.8% (31 December 2011 est.)
country comparison to the world: 148

5.889% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$126.9 billion (31 December 2011 est.)
country comparison to the world: 29

$107.8 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$160 billion (31 December 2011 est.)
country comparison to the world: 44

$144.4 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$142.5 billion (31 December 2011 est.)
country comparison to the world: 45

$126.5 billion (31 December 2010 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$73.1 billion (31 December 2010)
country comparison to the world: 47

$70.26 billion (31 December 2009)
$57.8 billion (31 December 2008)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry

Industries:
motor vehicles, metallurgy, machinery and equipment, glass, armaments

Industrial production growth rate:
6.7% (2011 est.)
country comparison to the world: 43
[see also: Industrial production growth rate country ranks ]

Electricity - production:
77.02 billion kWh (2009 est.)
country comparison to the world: 37
[see also: Electricity - production country ranks ]

Electricity - consumption:
53.42 billion kWh (2009 est.)
country comparison to the world: 45
[see also: Electricity - consumption country ranks ]

Electricity - exports:
22.23 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
13.64 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
10,310 bbl/day (2010 est.)
country comparison to the world: 86
[see also: Oil - production country ranks ]

Oil - consumption:
195,700 bbl/day (2010 est.)
country comparison to the world: 58
[see also: Oil - consumption country ranks ]

Oil - exports:
25,480 bbl/day (2009 est.)
country comparison to the world: 86
[see also: Oil - exports country ranks ]

Oil - imports:
208,800 bbl/day (2009 est.)
country comparison to the world: 47
[see also: Oil - imports country ranks ]

Natural gas - production:
203 million cu m (2010 est.)
country comparison to the world: 76
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
9.308 billion cu m (2010 est.)
country comparison to the world: 48
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
159 million cu m (2010 est.)
country comparison to the world: 45
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
8.51 billion cu m (2010 est.)
country comparison to the world: 27
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
3.964 billion cu m (1 January 2011 est.)
country comparison to the world: 93
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$6.29 billion (2011 est.)
country comparison to the world: 177

-$5.993 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$146.7 billion (2011 est.)
country comparison to the world: 32

$116.7 billion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and transport equipment, raw materials and fuel, chemicals

Exports - partners:
Germany 31.7%, Slovakia 8.7%, Poland 6.2%, France 5.5%, UK 4.9%, Austria 4.7%, Italy 4.5% (2010 est.)

Imports:
$143.5 billion (2011 est.)
country comparison to the world: 31

$113.9 billion (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and transport equipment, raw materials and fuels, chemicals

Imports - partners:
Germany 25.6%, China 11.9%, Poland 6.5%, Russia 5.4%, Slovakia 5.2% (2010 est.)

Reserves of foreign exchange and gold:
$44.62 billion (31 December 2011 est.)
country comparison to the world: 41

$41.95 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$96.94 billion (31 December 2011 est.)
country comparison to the world: 43

$86.53 billion (31 December 2010 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$135.4 billion (31 December 2011 est.)
country comparison to the world: 28

$129.9 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$16.82 billion (31 December 2011 est.)
country comparison to the world: 48

$15.52 billion (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
koruny (CZK) per US dollar -

17.25 (2011 est.)
19.098 (2010 est.)
19.063 (2009)
17.064 (2008)
20.53 (2007)


NOTE: 1) The information regarding Czech Republic on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Czech Republic Economy 2012 information contained here. All suggestions for corrections of any errors about Czech Republic Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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