Czech Republic | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Czech Republic including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Czech Republic economy.


Overview Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 2.50 0.9 0.8 0.7 0.7 0.4 percent [+]
Unemployment Rate 3.80 3.9 3.9 3.9 4 5 percent [+]
Inflation Rate 2.70 2.5 2.4 2.5 2.3 2.6 percent [+]
Interest Rate 0.25 0.25 0.25 0.25 0.25 0.75 percent [+]
Balance of Trade 28265.00 28114 26726 27084 25866 19208 CZK Million [+]
Government Debt to GDP 36.80 35.5 33.6 33.6 33.6 31.4 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 21.79 21.9 21.68 21.46 21.24 18.8 [+]
Stock Market 1053.83 1050 1040 1030 1020 901 points [+]
Government Bond 10Y 1.41 1.35 1.37 1.38 1.39 1.54 percent [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 2.50 0.9 0.8 0.7 0.7 0.4 percent [+]
GDP Annual Growth Rate 4.70 4.2 4.2 4 3.6 2.8 percent [+]
GDP 192.92 190 186 182 178 205 USD Billion [+]
GDP Constant Prices 1155.66 1193 1206 1218 1228 1261 CZK Billion [+]
Gross National Product 4467763.00 4601427 4642395 4683363 4724331 5031525 CZK MN [+]
Gross Fixed Capital Formation 304.87 325 328 328 327 313 CZK Billion [+]
GDP per capita 21707.49 21920 22070 22070 22070 22250 USD [+]
GDP per capita PPP 31071.75 31158 31117 31076 31035 30208 USD [+]
GDP From Agriculture 20407.00 19228 18580 17872 17273 16310 CZK Million [+]
GDP From Construction 60174.00 60894 61149 61246 61333 60606 CZK Million [+]
GDP From Manufacturing 279402.00 285909 287602 288524 288925 284338 CZK Million [+]
GDP From Public Administration 139445.00 138912 138629 138391 138149 136337 CZK Million [+]
GDP From Services 195058.00 198456 200387 201129 201551 199684 CZK Million [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 3.80 3.9 3.9 3.9 4 5 percent [+]
Unemployed Persons 284915.00 277137 284408 282926 284172 291602 [+]
Long Term Unemployment Rate 1.30 1.38 1.48 1.59 1.7 2.49 percent [+]
Youth Unemployment Rate 8.00 8.17 8.33 8.47 8.61 9.65 percent [+]
Labour Costs 109.28 104 106 108 108 104 Index Points [+]
Job Vacancies 206081.00 215014 212345 203618 192100 107410 [+]
Wages 29346.00 29064 27861 29140 27892 28756 CZK/Month [+]
Wages in Manufacturing 29929.00 29357 27989 29420 28201 29075 CZK/Month [+]
Minimum Wages 407.09 368 418 426 427 400 EUR/Month [+]
Population 10.57 10.6 10.62 10.62 10.62 10.65 Million [+]
Retirement Age Women 61.80 61.5 61.59 61.64 61.68 61.48 [+]
Retirement Age Men 63.20 63.07 63.17 63.23 63.28 63.38 [+]
Employed Persons 5197.27 5188 5186 5182 5179 5150 Thousand [+]
Employment Change 0.40 0.23 0.18 0.18 0.13 0.07 percent [+]
Employment Rate 73.30 73.26 73.22 73.17 73.12 72.66 percent [+]
Full Time Employment 4746.10 4729 4725 4721 4717 4685 Thousand [+]
Wage Growth 5.30 2.4 2.6 2.7 3.75 2.5 percent [+]
Part Time Employment 303.80 306 305 302 300 277 Thousand [+]
Wages Low Skilled 13400.00 13933 13933 13933 13933 13933 CZK/Month [+]
Wages High Skilled 34500.00 33083 32946 32828 32727 32257 CZK/Month [+]
Productivity 109.90 113 101 110 121 112 Index Points [+]
Labor Force Participation Rate 59.90 60 59.9 59.91 59.96 59.92 percent [+]
Living Wage Family 17687.30 17673 17671 17672 17671 17672 CZK/Month [+]
Living Wage Individual 15835.00 15808 15797 15804 15799 15801 CZK/Month [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 2.70 2.5 2.4 2.5 2.3 2.6 percent [+]
Inflation Rate Mom -0.10 0.22 0.23 0.22 0.22 0.22 percent [+]
Harmonised Consumer Prices 102.50 103 103 103 103 103 Index Points [+]
Consumer Price Index CPI 197.80 198 198 198 198 197 Index Points [+]
Core Consumer Prices 105.74 106 106 106 106 106 Index Points [+]
Core Inflation Rate 2.66 2.29 1.89 1.6 1.4 0.94 percent [+]
GDP Deflator 108.80 109 109 109 109 108 Index Points [+]
Producer Prices 111.20 118 120 120 111 137 Index Points [+]
Producer Prices Change 1.70 3.8 3.2 3.2 3 2.4 percent [+]
Export Prices 97.60 98.04 98.3 98.5 98.66 99.18 Index Points [+]
Import Prices 97.40 97.43 97.86 98.25 98.57 99.82 Index Points [+]
CPI Housing Utilities 148.50 149 149 148 148 148 Index Points [+]
CPI Transportation 103.40 103 103 102 102 101 Index Points [+]
Food Inflation 5.70 4.89 4.01 3.34 2.89 2.05 percent [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 0.25 0.25 0.25 0.25 0.25 0.75 percent [+]
Interbank Rate 0.17 0.27 0.41 0.54 0.68 1.69 percent [+]
Money Supply M0 529848.90 530069 529886 529640 529366 526777 CZK Million [+]
Money Supply M1 3719280.63 3733393 3744151 3748565 3748661 3683385 CZK Million [+]
Money Supply M2 4121833.66 4153498 4164186 4166844 4165564 4122201 CZK Million [+]
Foreign Exchange Reserves 146324.80 145852 145147 144449 143745 137568 USD Million [+]
Banks Balance Sheet 7181013.50 7203479 7199859 7194497 7188848 7138051 CZK Million [+]
Loans to Private Sector 1048331.60 1063294 1061768 1059483 1056956 1034025 CZK Million [+]
Deposit Interest Rate 0.05 0.1 0.17 0.24 0.32 0.95 percent [+]
Cash Reserve Ratio 2.00 2.05 2.1 2.14 2.18 2.53 percent [+]
Central Bank Balance Sheet 3263917.70 3225978 3200621 3175858 3151416 2943697 CZK Million [+]
Private Debt to GDP 136.05 138 136 134 132 125 percent [+]
Money Supply M3 4234365.09 4284760 4302142 4308333 4308721 4260614 CZK Million [+]
Lending Rate 0.50 0.76 0.98 1.21 1.42 2.99 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 28265.00 28114 26726 27084 25866 19208 CZK Million [+]
Exports 326046.00 327504 329902 332077 329969 324816 CZK Million [+]
Imports 297781.00 298860 299620 299785 298928 293781 CZK Million [+]
Current Account -290.10 -702 2511 -261 -1089 -529 EUR Million [+]
Current Account to GDP 1.10 0.8 1 1 1 0.6 percent [+]
External Debt 171060.00 116000 199098 205055 209663 122000 EUR Million [+]
Terms of Trade 100.20 100 100 99.84 99.65 99.18 Index Points [+]
Capital Flows -15756.60 14157 20286 22941 24092 24971 CZK MN [+]
Foreign Direct Investment 11440.56 -872194 -818719 -765243 -711768 -579104 CZK Million [+]
Remittances 526.40 516 509 511 506 490 EUR Million [+]
Gold Reserves 9.52 9.38 9.34 9.3 9.27 9.29 Tonnes [+]
Crude Oil Production 2.00 2.13 2.18 2.24 2.29 2.66 BBL/D/1K [+]
Terrorism Index 2.18 1.04 0.89 0.74 0.58 1.09 [+]
Weapons Sales 129.00 178 166 154 141 74.76 USD Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 36.80 35.5 33.6 33.6 33.6 31.4 percent [+]
Government Budget 0.70 1 1.2 1.2 1.2 0.9 percent of GDP [+]
Government Budget Value 1765.86 -4355 -4502 -4519 -4519 -4519 CZK Million [+]
Government Spending 214.43 215 214 214 214 211 CZK Billion [+]
Government Spending to GDP 39.90 42.7 42.8 42.9 43 43.83 percent [+]
Government Revenues 112946.90 106061 101053 97245 94237 80171 CZK Million [+]
Government Debt 1754899.00 1666227 1643155 1620083 1597011 1322694 CZK Million [+]
Fiscal Expenditure 111181.04 100026 96234 94060 92242 80841 CZK Million [+]
Asylum Applications 90.00 88.3 86.75 85.45 84.34 79.57 persons [+]
Military Expenditure 1922.80 2100 2142 2184 2225 2494 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Business Confidence 97.00 96.59 96.09 95.64 95.23 93.1 [+]
Manufacturing PMI 56.60 55.74 55.38 55.02 54.72 53.52 [+]
Industrial Production 5.80 3.6 4.08 4.23 4.29 2.5 percent [+]
Industrial Production Mom 14.30 0.4 0.1 0.31 0.32 0.4 percent [+]
Manufacturing Production 5.40 5.61 5.87 5.92 5.86 5.57 percent [+]
New Orders 104.90 107 108 109 110 115 Index Points [+]
Changes in Inventories 10.16 7.37 6.94 6.9 6.71 5.9 CZK Billion [+]
Car Registrations 21192.00 20112 19185 18439 17825 15610 Cars [+]
Competitiveness Index 4.77 4.72 4.72 4.72 4.72 4.59 Points [+]
Competitiveness Rank 31.00 29 29 29 29 38 [+]
Corporate Profits 328392.00 313673 311115 308557 305999 282306 CZK Million [+]
Ease of Doing Business 27.00 29 32 36 39 61 [+]
Electricity Production 7197.00 8058 6949 6517 7257 7138 Gigawatt-hour [+]
Corruption Index 55.00 53 52 52 51 45 Points [+]
Corruption Rank 47.00 44 42 41 39 43 [+]
Steel Production 363.00 411 430 444 455 500 Thousand Tonnes [+]
Mining Production -14.30 -3 -2.69 -2.67 -2.67 -2.67 percent [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Confidence 109.20 108 107 106 105 98.98 [+]
Retail Sales MoM 0.40 0.4 0.33 0.29 0.3 0.5 percent [+]
Retail Sales YoY 4.80 2.5 4.7 4.56 4.44 2.2 percent [+]
Consumer Spending 540.47 549 553 556 558 566 CZK Billion [+]
Personal Savings 11.39 12.3 10.31 11.47 11.2 11.59 percent [+]
Consumer Credit 227112.40 228918 229211 229163 228985 226731 CZK Million [+]
Private Sector Credit 2816293.55 2865265 2885839 2896885 2902034 2876414 CZK Million [+]
Gasoline Prices 1.29 1.26 1.25 1.25 1.25 1.22 USD/Liter [+]
Households Debt To Gdp 31.40 31.36 31.29 31.25 31.19 30.62 percent of GDP [+]
Households Debt To Income 57.55 55.81 55.5 55.2 54.89 46.43 percent [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Construction Output 1.90 0.6 1.56 1.43 1.38 1.5 percent [+]
Housing Index 118.90 119 118 115 113 106 Index points [+]
Building Permits 7226.00 9331 9832 10026 10084 10092 units [+]
Housing Starts 8498.00 7448 7374 8028 7834 7812 [+]
Home Ownership Rate 78.20 78.06 78.04 78.02 78 77.5 percent [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 19.00 19.25 19.25 19.25 19.25 20 percent [+]
Personal Income Tax Rate 22.00 22.89 22.89 22.89 22.89 24.52 percent [+]
Sales Tax Rate 21.00 20.58 20.58 20.58 20.58 20.05 percent [+]
Social Security Rate 45.00 45.21 45.26 45.3 45.35 45.75 percent [+]
Social Security Rate For Companies 34.00 34.08 34.1 34.12 34.14 34.3 percent [+]
Social Security Rate For Employees 11.00 11.12 11.15 11.18 11.21 11.45 percent [+]