Czech Republic - Economic Forecasts - 2018-2020 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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.50 0.7 0.7 0.7 1.1 0.4 percent
Unemployment Rate 3.20 3.4 3.4 3.6 3.7 4.6 percent
Inflation Rate 1.90 2.5 2.3 2.7 1.7 2.6 percent
Interest Rate 0.75 0.75 0.75 1 1.25 3 percent
Balance of Trade 47185.00 41000 29000 16000 50000 25000 CZK Million
Government Debt to GDP 34.60 32.6 32.6 32.6 30.4 29.6 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 22.08
21.02 21.45 21.88 22.33 24.2
Stock Market 1087.50
points
1089 1066 1043 1021 936
Government Bond 10Y 1.87
percent
2.09 2.38 2.7 3.08 5.16
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.50
percent
0.7 0.7 0.7 1.1 0.4
GDP Annual Growth Rate 4.50
percent
4 3.6 3.2 3 2.8
GDP 192.92
USD Billion
190 192 194 198 205
GDP Constant Prices 1168.67
CZK Billion
1178 1184 1206 1162 1277
Gross National Product 4467763.00
CZK MN
4630836 4604030 4698335 4808877 4974785
Gross Fixed Capital Formation 305.70
CZK Billion
310 310 315 296 334
GDP per capita 21707.49
USD
22070 22070 22070 22180 22250
GDP per capita PPP 31071.75
USD
31231 31305 31378 31858 31920
GDP From Agriculture 20383.00
CZK Million
20766 20677 21035 20954 22273
GDP From Construction 58673.00
CZK Million
61115 60224 60551 60165 64113
GDP From Manufacturing 285778.00
CZK Million
284785 288254 294923 277941 312276
GDP From Public Administration 139154.00
CZK Million
142128 141130 143607 143167 152057
GDP From Services 195107.00
CZK Million
198275 198411 201350 192121 213198
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 3.20
percent
3.4 3.4 3.6 3.7 4.6
Unemployed Persons 242798.00
263606 270380 268969 270441 280429
Long Term Unemployment Rate 0.80
percent
0.89 0.97 1.07 1.18 2.18
Youth Unemployment Rate 6.80
percent
8.99 9.16 7.52 6.32 7.23
Labour Costs 114.18
Index Points
114 111 110 110 108
Job Vacancies 267107.00
256195 258166 250904 237291 208854
Wages 31646.00
CZK/Month
32000 32000 33500 32000 38000
Wages in Manufacturing 31298.00
CZK/Month
31000 30500 31500 32000 34500
Minimum Wages 477.78
EUR/Month
478 478 478 510 550
Population 10.61
Million
10.62 10.62 10.62 10.66 10.65
Retirement Age Women 62.67
62.67 62.67 62.67 63.17 63.67
Retirement Age Men 63.33
63.33 63.33 63.33 63.5 63.67
Labor Force Participation Rate 60.40
percent
60.3 60.3 60.3 60.3 60.3
Living Wage Family 17900.00
CZK/Month
18300 18300 18300 18039 18800
Living Wage Individual 12600.00
CZK/Month
12600 12600 12600 12600 12600
Part Time Employment 319.90
Thousand
318 316 314 311 285
Productivity 117.00
Index Points
117 119 118 119 118
Wage Growth 5.30
percent
2.7 4.93 2.8 4.93 2.5
Wages Low Skilled 15200.00
CZK/Month
15600 15600 15600 15600 16200
Wages High Skilled 34400.00
CZK/Month
35400 35400 35400 35400 37000
Employed Persons 5258.23
Thousand
5260 5257 5254 5250 5217
Employment Change 0.00
percent
0.15 0.76 0.25 0.67 0.46
Employment Rate 74.30
percent
73.7 73.7 73.7 73.7 73.7
Full Time Employment 4809.10
Thousand
4782 4782 4782 4782 4782
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 1.90
percent
2.5 2.3 2.7 1.7 2.6
Inflation Rate Mom 0.30
percent
0.14 0.14 0.12 0.12 0.12
Harmonised Consumer Prices 101.80
Index Points
104 104 105 106 110
Consumer Price Index CPI 104.70
Index Points
201 201 204 204 215
Core Consumer Prices 106.73
Index Points
106 107 107 108 109
Core Inflation Rate 1.86
percent
1.38 1.23 1.13 1.06 0.91
GDP Deflator 111.20
Index Points
110 110 110 110 110
Producer Prices 99.20
Index Points
112 113 114 101 119
Producer Prices Change 0.00
percent
0.8 1.5 1.8 2 2.2
Export Prices 95.00
Index Points
95.16 95.1 95.16 95.12 95.14
Import Prices 94.10
Index Points
93.96 93.88 93.94 93.9 93.92
CPI Housing Utilities 150.60
Index Points
151 151 153 152 161
CPI Transportation 105.70
Index Points
105 105 107 108 113
Food Inflation 1.80
percent
2.32 1.8 1.7 2 3
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 0.75
percent
0.75 0.75 1 1.25 3
Interbank Rate 0.17
percent
0.42 0.42 0.67 0.92 2.67
Money Supply M0 545588.30
CZK Million
545078 550391 555747 561103 619932
Money Supply M1 3798715.92
CZK Million
3887088 3955269 4024021 4092682 4831279
Money Supply M2 4214333.35
CZK Million
4284953 4345741 4405495 4464235 5048125
Foreign Exchange Reserves 147016.70
USD Million
151215 150788 150220 149632 143206
Banks Balance Sheet 7376924.70
CZK Million
7296187 7295254 7289562 7284471 7227915
Loans to Private Sector 1045969.10
CZK Million
1047963 1042591 1054065 1043171 1048003
Deposit Interest Rate 0.05
percent
0.3 0.3 0.55 0.8 2.55
Lending Rate 1.50
percent
1.25 1.25 1.5 1.75 3.5
Private Debt to GDP 138.30
percent
134 132 130 130 125
Money Supply M3 4349955.32
CZK Million
4436100 4511212 4585220 4658207 5397695
Cash Reserve Ratio 2.00
percent
2 2 2 2 2
Central Bank Balance Sheet 3113386.90
CZK Million
3128246 3180498 3233662 3269520 3245689
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 47185.00
CZK Million
41000 29000 16000 50000 25000
Exports 366267.00
CZK Million
379000 365000 322000 429000 369000
Imports 319083.00
CZK Million
338000 336000 306000 379000 344000
Current Account -26.70
EUR Million
-66.97 -1403 -105 -1367 -292
Current Account to GDP 1.10
percent
1 1 1 0.7 0.6
External Debt 171197.30
EUR Million
170000 170000 118000 170000 122000
Terms of Trade 101.00
Index Points
101 101 101 101 101
Capital Flows -2321.33
CZK MN
6926 10264 10212 10033 10038
Foreign Direct Investment 173269.05
CZK Million
-24886 -82975 -141065 -269153 -63140
Remittances 585.30
EUR Million
534 530 530 527 509
Gold Reserves 9.40
Tonnes
9.41 9.35 9.38 9.33 9.28
Terrorism Index 1.89
1.54 1.53 1.52 1.36 1.89
Weapons Sales 110.00
USD Million
110 110 110 110 110
Crude Oil Production 2.00
BBL/D/1K
2 2 2 2 2
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 34.60
percent
32.6 32.6 32.6 30.4 29.6
Government Budget 1.60
percent of GDP
1.4 1.4 1.4 1.1 0.9
Government Budget Value -15484.57
CZK Million
14402 13651 14738 14063 29084
Government Spending 215.51
CZK Billion
218 218 222 220 235
Government Spending to GDP 38.80
percent
42.28 42.46 42.63 42.76 42.71
Government Revenues 96544.27
CZK Million
110659 108463 105479 105429 108363
Government Debt 1754883.00
CZK Million
1722732 1710110 1697488 1689238 1527433
Fiscal Expenditure 112028.84
CZK Million
96257 94812 93103 91366 79279
Military Expenditure 2101.04
USD Million
1984 2042 2100 2142 2542
Asylum Applications 90.00
persons
89.27 89.14 89.17 89.16 89.16
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 96.20
Index Points
96.29 96.18 96.07 96 95.93
Manufacturing PMI 57.20
57.75 57.6 57.66 57.62 57.63
Industrial Production -1.10
percent
5.2 4.5 3.8 3.6 2.5
Industrial Production Mom 1.40
percent
0.3 0.6 -0.7 0.4 0.4
Manufacturing Production -2.40
percent
8.07 5.75 6.15 7.44 6.93
New Orders 99.14
Index Points
109 106 106 106 106
Changes in Inventories 17.59
CZK Billion
14.54 14.54 14.54 14.54 14.54
Car Registrations 24259.00
22760 23055 22661 22608 22621
Internet Speed 16938.04
KBps
15823 15844 15348 15158 13070
IP Addresses 1720644.00
IP
1750583 1751207 1751285 1751368 1735282
Mining Production -6.10
percent
-2.27 -2.27 -2.27 -2.27 -2.27
Steel Production 409.21
Thousand Tonnes
413 414 414 414 414
Competitiveness Index 4.77
Points
4.74 4.74 4.74 4.74 4.74
Competitiveness Rank 31.00
31 31 31 31 31
Corporate Profits 328392.00
CZK Million
336495 340471 344448 346908 413717
Ease of Doing Business 30.00
30 30 30 30 30
Electricity Production 8471.00
Gigawatt-hour
7480 6645 7020 7361 7108
Corruption Index 57.00
Points
57 57 57 57 57
Corruption Rank 42.00
42 42 42 42 42
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 113.80
Index Points
114 114 114 114 114
Retail Sales MoM 0.10
percent
-0.4 -0.3 -0.4 0.5 0.5
Retail Sales YoY 3.70
percent
4.5 5.5 4 3.7 2.2
Consumer Spending 548.61
CZK Billion
552 555 566 547 599
Personal Savings 10.18
percent
11.53 10.65 11.99 10.73 11.53
Consumer Credit 231341.10
CZK Million
232252 234007 235700 237334 251962
Private Sector Credit 2862771.04
CZK Million
2888621 2918795 2947327 2974309 3189890
Gasoline Prices 1.50
USD/Liter
1.34 1.27 1.19 1.13 0.78
Households Debt To Gdp 31.60
percent of GDP
31.55 31.49 31.44 31.38 30.67
Households Debt To Income 59.22
percent
58.8 59.45 60.11 60.64 64.92
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Construction Output -0.70
percent
10.3 4.4 2.9 2.5 1.9
Housing Index 122.30
Index points
121 120 118 116 106
Building Permits 5543.00
units
8473 9392 9800 9949 9999
Housing Starts 7618.00
8332 8332 8332 8332 8332
Home Ownership Rate 78.20
percent
77.92 78.16 78.4 78.43 78.66
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 19.00
percent
19 19 19 19 20
Personal Income Tax Rate 22.00
percent
22 22 22 22 22
Sales Tax Rate 21.00
percent
21 21 21 21 21
Social Security Rate 45.00
percent
45 45 45 45 45
Social Security Rate For Companies 34.00
percent
34.06 34.06 34.06 34.06 34.18
Social Security Rate For Employees 11.00
percent
11 11 11 11 11
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 18.66
celsius
12.11 16.13 3.06 -0.7 7.81