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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.30 0.6 0.7 0.6 0.6 0.4 percent [+]
Unemployment Rate 4.10 4.7 4.7 4.5 4.5 5 percent [+]
Inflation Rate 2.40 2.1 2.2 2.5 2.4 2.6 percent [+]
Interest Rate 0.05 0.05 0.05 0.05 0.05 0.75 percent [+]
Balance of Trade 32592.00 40101 36546 39070 38982 38669 CZK Million [+]
Government Debt to GDP 37.20 35.58 34.76 33.94 33.61 31.84 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 23.45 23.8 24.03 24.74 24.5 28.27 [+]
Stock Market 980.68 990 980 950 960 800 points [+]
Government Bond 10Y 0.93 0.79 0.8 0.8 0.81 0.94 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.30 0.6 0.7 0.6 0.6 0.4 percent [+]
GDP Annual Growth Rate 2.90 3.2 3.3 3.3 3.2 2.2 percent [+]
GDP 185.16 187 187 190 185 205 USD Billion [+]
GDP Constant Prices 1115.80 1128 1135 1142 1149 1182 CZK Billion [+]
Gross National Product 4255247.00 4261741 4345705 4429669 4470933 5104220 CZK MN [+]
Gross Fixed Capital Formation 282.44 287 290 293 293 291 CZK Billion [+]
GDP per capita 21224.60 21206 21461 21715 21770 22273 USD [+]
GDP per capita PPP 30380.59 30355 30719 31083 31162 31881 USD [+]
GDP From Agriculture 20121.00 19923 20114 19921 20116 20034 CZK Million [+]
GDP From Construction 56448.00 55912 55901 56321 55971 56135 CZK Million [+]
GDP From Manufacturing 267461.00 267699 269007 268920 269682 270137 CZK Million [+]
GDP From Public Administration 141468.00 141808 142038 142289 142468 143674 CZK Million [+]
GDP From Services 183430.00 183512 183634 184364 184153 184483 CZK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.10 4.7 4.7 4.5 4.5 5 percent [+]
Unemployed Persons 308521.00 305532 311980 297147 301771 298164 [+]
Long Term Unemployment Rate 1.40 1.25 1.29 1.17 1.24 1.09 percent [+]
Youth Unemployment Rate 9.10 8.66 8.43 8.27 8.16 7.95 percent [+]
Labour Costs 113.13 109 109 113 115 115 Index Points [+]
Job Vacancies 174043.00 184245 203065 208268 208443 207341 [+]
Wages 27889.00 28580 28463 30486 29124 33741 CZK/Month [+]
Wages in Manufacturing 28168.00 29484 28169 29483 28170 29478 CZK/Month [+]
Minimum Wages 407.09 360 408 368 416 400 EUR/Month [+]
Population 10.58 10.54 10.55 10.55 10.55 10.57 Million [+]
Retirement Age Women 61.80 61.73 61.73 61.73 61.91 62.03 [+]
Retirement Age Men 63.20 63.07 63.07 63.07 63.28 63.38 [+]
Employed Persons 5169.20 5198 5213 5231 5221 5288 Thousand [+]
Employment Change 0.60 0.28 0.31 0.55 0.46 0.43 percent [+]
Employment Rate 72.90 73.68 74.01 74.53 74.66 77.1 percent [+]
Full Time Employment 4772.40 4785 4794 4813 4807 4843 Thousand [+]
Productivity 99.30 105 106 106 106 106 Index Points [+]
Wage Growth 2.80 2.2 2 2.4 2.6 2.5 percent [+]
Wages Low Skilled 13400.00 13930 13932 13933 13933 13933 CZK/Month [+]
Wages High Skilled 34500.00 33424 33241 33083 32946 32257 CZK/Month [+]
Part Time Employment 294.60 296 293 291 288 286 Thousand [+]
Labor Force Participation Rate 60.20 60.27 60.42 60.45 60.42 60.59 percent [+]
Living Wage Family 17687.30 18696 18708 18707 18707 18707 CZK/Month [+]
Living Wage Individual 15835.00 15845 15847 15846 15846 15846 CZK/Month [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 2.40 2.1 2.2 2.5 2.4 2.6 percent [+]
Inflation Rate Mom 0.20 0.18 0.18 0.18 0.19 0.19 percent [+]
Harmonised Consumer Prices 102.50 102 102 102 102 102 Index Points [+]
Consumer Price Index CPI 197.20 197 198 199 200 207 Index Points [+]
Core Consumer Prices 104.96 105 105 105 105 105 Index Points [+]
Core Inflation Rate 2.23 2.33 2.34 2.34 2.34 2.34 percent [+]
GDP Deflator 108.00 109 108 109 109 109 Index Points [+]
Producer Prices 108.60 114 116 118 120 137 Index Points [+]
Producer Prices Change 2.30 4.2 5.2 3.8 3.2 2.4 percent [+]
Export Prices 100.80 101 101 101 101 101 Index Points [+]
Import Prices 101.80 102 102 102 102 102 Index Points [+]
Cpi Housing Utilities 147.40 148 148 148 149 153 Index Points [+]
Cpi Transportation 103.80 104 104 104 104 104 Index Points [+]
Food Inflation 4.50 4.89 4.88 5.02 4.94 4.97 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.05 0.05 0.05 0.05 0.05 0.75 percent [+]
Interbank Rate 0.17 0.17 0.17 0.17 0.17 0.17 percent [+]
Money Supply M0 530281.80 536365 546122 555793 565405 667378 CZK Million [+]
Money Supply M1 3666671.72 3744856 3852786 3958831 4064564 5201087 CZK Million [+]
Money Supply M2 4082059.84 4149391 4253095 4355346 4456200 5478514 CZK Million [+]
Foreign Exchange Reserves 139040.70 140242 140614 140729 140724 140722 USD Million [+]
Banks Balance Sheet 7210888.60 7393678 7659990 7919632 8174810 10680093 CZK Million [+]
Loans to Private Sector 1041897.60 1056650 1063934 1065739 1066308 1066466 CZK Million [+]
Deposit Interest Rate 0.05 0.05 0.05 0.05 0.05 0.05 percent [+]
Cash Reserve Ratio 2.00 2 2 2 2 2 percent [+]
Central Bank Balance Sheet 3382429.60 3812449 4513535 5102453 5692334 10554911 CZK Million [+]
Private Debt to GDP 136.05 138 136 135 135 127 percent [+]
Money Supply M3 4162705.40 4249078 4372931 4493779 4612868 5816137 CZK Million [+]
Lending Rate 0.25 0.25 0.25 0.25 0.25 0.25 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 32592.00 40101 36546 39070 38982 38669 CZK Million [+]
Exports 329562.00 334860 343962 345841 342716 344092 CZK Million [+]
Imports 296970.00 301773 307338 304930 305322 305510 CZK Million [+]
Current Account 3497.80 -145 -846 -526 2586 -40.92 EUR Million [+]
Current Account to GDP 1.10 0.8 0.8 0.8 1 0.6 percent [+]
External Debt 172246.00 112000 209000 116000 241000 122000 EUR Million [+]
Terms of Trade 99.00 99.02 99.03 99.03 99.03 99.03 Index Points [+]
Capital Flows 75983.63 43297 23192 23016 24674 24581 CZK MN [+]
Foreign Direct Investment 11440.56 805927 -33133 -872194 -818719 -579104 CZK Million [+]
Remittances 526.40 540 528 549 534 556 EUR Million [+]
Gold Reserves 9.61 9.6 9.49 9.48 9.39 9.15 Tonnes [+]
Crude Oil Production 2.00 2.01 1.96 1.96 1.97 1.97 BBL/D/1K [+]
Terrorism Index 2.18 2.46 2.35 2.25 2.24 2.7 [+]
Weapons Sales 129.00 136 157 179 166 76.51 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 37.20 35.58 34.76 33.94 33.61 31.84 percent [+]
Government Budget 0.60 1 1 1 1.2 0.3 percent of GDP [+]
Government Budget Value -24976.00 -382 -1325 -2822 -2725 -2748 CZK Million [+]
Government Spending 210.27 209 210 210 210 210 CZK Billion [+]
Government Spending to GDP 39.90 42.28 42.46 42.63 42.76 43.9 percent [+]
Government Revenues 89092.00 112280 110351 108117 107136 102914 CZK Million [+]
Government Debt 1836166.00 1800197 1772136 1744074 1727904 1511931 CZK Million [+]
Fiscal Expenditure 114068.00 104818 104073 104736 104794 104806 CZK Million [+]
Asylum Applications 95.00 95.14 95.01 94.89 94.85 94.84 persons [+]
Military Expenditure 1922.80 1867 1923 1979 1986 2053 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 94.90 94.71 94.41 94.27 94.21 94.13 [+]
Manufacturing PMI 56.40 56.97 56.77 56.96 56.89 56.9 [+]
Industrial Production -2.50 4.12 2.25 3.6 1.53 2.5 percent [+]
Industrial Production Mom 0.60 0.5 0.32 0.4 0.34 0.4 percent [+]
Manufacturing Production -4.00 4.39 2.07 1.51 1.43 1.48 percent [+]
New Orders 96.76 104 104 103 103 103 Index Points [+]
Changes in Inventories 18.97 15.37 11.99 10.6 9.81 5.97 CZK Billion [+]
Car Registrations 27009.00 24846 23184 24065 23570 23894 Cars [+]
Competitiveness Index 4.72 4.71 4.71 4.71 4.72 4.72 Points [+]
Competitiveness Rank 31.00 31 31 31 31 31 [+]
Corporate Profits 297159.00 308664 317793 326923 330632 392107 CZK Million [+]
Corruption Index 55.00 55 55 54 54 49 Points [+]
Corruption Rank 47.00 44 48 52 51 50 [+]
Ease of Doing Business 27.00 24 21 17 13 4 [+]
Electricity Production 6748.00 6972 6800 7366 7381 7126 Gigawatt-hour [+]
Steel Production 437.05 420 431 432 433 434 Thousand Tonnes [+]
Mining Production -6.60 -4.17 -4.23 -4.19 -4.18 -4.18 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 108.40 108 108 108 108 108 [+]
Retail Sales MoM -0.80 0.5 0.8 0.4 0.42 0.5 percent [+]
Retail Sales YoY 2.70 1.7 2.1 2.5 4.58 2.2 percent [+]
Consumer Spending 524.10 527 530 533 536 562 CZK Billion [+]
Personal Savings 12.91 12.65 11.42 12.69 11.61 12.32 percent [+]
Consumer Credit 221149.10 222278 223937 225537 227080 240803 CZK Million [+]
Private Sector Credit 2748611.37 2788940 2847062 2902096 2954580 3394298 CZK Million [+]
Gasoline Prices 1.25 1.27 1.28 1.25 1.25 1.26 USD/Liter [+]
Households Debt To Gdp 31.50 31.43 31.57 31.7 31.79 32.61 percent of GDP [+]
Households Debt To Income 57.55 57.1 57.7 58.29 58.46 60.64 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 4.00 0.2 2.53 0.6 1.54 1.5 percent [+]
Housing Index 118.50 129 134 138 141 162 Index points [+]
Building Permits 6659.00 7307 7062 6704 6856 6891 units [+]
Housing Starts 6525.00 7233 7457 7535 7060 7580 [+]
Home Ownership Rate 78.00 77.7 77.54 77.37 77.27 76.31 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 19.00 18.96 18.96 18.96 18.98 18.97 percent [+]
Personal Income Tax Rate 15.00 15 15 15 15 15 percent [+]
Sales Tax Rate 21.00 21 21 21 21 21 percent [+]
Social Security Rate 45.00 45 45 45 45 45 percent [+]
Social Security Rate For Companies 34.00 34 34 34 34 34 percent [+]
Social Security Rate For Employees 11.00 11 11 11 11 11 percent [+]