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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.50 0.8 0.7 0.7 0.7 0.4 percent
Unemployment Rate 3.80 3.9 3.9 4 4.2 5 percent
Inflation Rate 2.40 2.4 2.5 2.3 2.7 2.6 percent
Interest Rate 0.50 0.25 0.25 0.25 0.25 0.75 percent
Balance of Trade 42407.00 37085 34321 33496 32313 25194 CZK Million
Government Debt to GDP 36.80 33.6 33.6 33.6 33.6 31.4 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 20.80
21.25 21.68 22.11 22.56 24.44
Stock Market 1114.92
points
1093 1071 1049 1028 874
Government Bond 10Y 1.74
percent
1.37 1.38 1.39 0.86 1.54
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.50
percent
0.8 0.7 0.7 0.7 0.4
GDP Annual Growth Rate 5.00
percent
4.2 4 3.6 3.2 2.8
GDP 192.92
USD Billion
181 184 187 194 205
GDP Constant Prices 1160.90
CZK Billion
1167 1172 1174 1175 1172
Gross National Product 4467763.00
CZK MN
4489682 4526930 4564178 4601427 5031525
Gross Fixed Capital Formation 303.46
CZK Billion
302 300 298 296 287
GDP per capita 21707.49
USD
22070 22070 22070 22070 22250
GDP per capita PPP 31071.75
USD
30931 31006 31082 31158 30208
GDP From Agriculture 20288.00
CZK Million
19063 18409 17748 17205 16259
GDP From Construction 59017.00
CZK Million
59565 59468 59541 59484 59213
GDP From Manufacturing 283038.00
CZK Million
287633 288567 288981 289024 284506
GDP From Public Administration 139082.00
CZK Million
138559 138330 138086 137863 136294
GDP From Services 194415.00
CZK Million
197021 197121 197260 197411 194920
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 3.80
percent
3.9 3.9 4 4.2 5
Unemployed Persons 280620.00
307970 296814 300312 301220 306267
Long Term Unemployment Rate 1.10
percent
1.16 1.25 1.36 1.47 2.24
Youth Unemployment Rate 5.00
percent
4.51 4.77 4.97 5.18 6.62
Labour Costs 108.46
Index Points
109 109 109 107 105
Job Vacancies 216629.00
216860 209830 199218 187195 112869
Wages 29050.00
CZK/Month
28506 29156 28772 29416 29133
Wages in Manufacturing 28981.00
CZK/Month
28628 29569 28758 29638 29373
Minimum Wages 407.09
EUR/Month
418 426 427 378 400
Population 10.57
Million
10.62 10.62 10.62 10.62 10.65
Retirement Age Women 61.80
62 62 62 62 61
Retirement Age Men 63.20
63 63 63 63 63
Labor Force Participation Rate 60.00
percent
60.01 60.06 60.1 60.06 60.03
Living Wage Family 17900.00
CZK/Month
18171 18142 18112 18083 18039
Living Wage Individual 12600.00
CZK/Month
12241 12107 11973 11839 11910
Part Time Employment 313.50
Thousand
317 316 314 311 290
Productivity 123.50
Index Points
101 110 122 113 112
Wages Low Skilled 15200.00
CZK/Month
14098 14195 14291 14388 14074
Wages High Skilled 34400.00
CZK/Month
31652 31993 32334 32675 31627
Wage Growth 4.20
percent
2.6 2.7 3.87 2.8 2.5
Employed Persons 5257.26
Thousand
5246 5247 5243 5239 5214
Employment Change 0.80
percent
0.26 0.27 0.33 0.22 0.1
Employment Rate 73.30
percent
73.22 73.17 73.12 73.07 72.66
Full Time Employment 4758.50
Thousand
4746 4742 4739 4735 4707
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 2.40
percent
2.4 2.5 2.3 2.7 2.6
Inflation Rate Mom 0.10
percent
0.14 0.15 0.14 0.14 0.14
Harmonised Consumer Prices 102.20
Index Points
102 102 102 102 103
Consumer Price Index CPI 199.00
Index Points
199 199 199 199 199
Core Consumer Prices 106.31
Index Points
106 106 106 106 106
Core Inflation Rate 2.38
percent
1.94 1.64 1.43 1.28 0.94
GDP Deflator 109.80
Index Points
110 110 111 111 110
Producer Prices 111.20
Index Points
120 120 111 126 137
Producer Prices Change 0.70
percent
3.2 3.2 3 2.9 2.4
Export Prices 97.00
Index Points
97.54 97.9 98.17 98.39 99.07
Import Prices 96.80
Index Points
97.34 97.8 98.19 98.51 99.72
CPI Housing Utilities 149.10
Index Points
149 149 149 149 148
CPI Transportation 104.50
Index Points
104 103 103 102 101
Food Inflation 5.60
percent
4.56 3.72 3.15 2.77 2.1
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 0.50
percent
0.25 0.25 0.25 0.25 0.75
Interbank Rate 0.17
percent
0.45 0.58 0.71 0.84 1.61
Money Supply M0 538131.80
CZK Million
541272 541981 542068 541919 539695
Money Supply M1 3745584.94
CZK Million
3752818 3759268 3761829 3761005 3705062
Money Supply M2 4140684.01
CZK Million
4150584 4153711 4152693 4149627 4111339
Foreign Exchange Reserves 148020.03
USD Million
150651 151256 151050 150576 145786
Banks Balance Sheet 7350792.30
CZK Million
7355527 7350831 7345542 7340064 7296404
Loans to Private Sector 1059976.90
CZK Million
1062593 1060638 1058322 1055901 1036756
Deposit Interest Rate 0.05
percent
0.17 0.24 0.32 0.39 0.95
Lending Rate 0.50
percent
0.98 1.21 1.42 1.63 2.99
Private Debt to GDP 138.30
percent
136 134 132 130 123
Money Supply M3 4244783.94
CZK Million
4248164 4248068 4245140 4240772 4195730
Cash Reserve Ratio 2.00
percent
2.07 2.11 2.15 2.2 2.5
Central Bank Balance Sheet 3155736.00
CZK Million
3063751 3028938 2999348 2971186 2761949
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 42407.00
CZK Million
37085 34321 33496 32313 25194
Exports 380697.00
CZK Million
372982 368003 366372 366704 361913
Imports 338290.00
CZK Million
333689 331157 330058 329808 325313
Current Account -1450.55
EUR Million
2537 -300 -1424 -626 -543
Current Account to GDP 1.10
percent
1 1 1 1 0.6
External Debt 173895.60
EUR Million
186000 188000 190000 118000 122000
Terms of Trade 100.20
Index Points
99.83 99.63 99.48 99.37 99.16
Capital Flows 26732.40
CZK MN
24542 24728 24809 24844 24871
Foreign Direct Investment 11440.56
CZK Million
1644987 805927 -33133 -872194 -579104
Remittances 524.70
EUR Million
502 511 501 505 489
Gold Reserves 9.44
Tonnes
9.38 9.37 9.36 9.35 9.46
Terrorism Index 1.89
1.37 1.33 1.29 1.26 0.97
Weapons Sales 129.00
USD Million
129 146 162 178 74.76
Crude Oil Production 2.00
BBL/D/1K
2.12 2.18 2.23 2.28 2.61
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 36.80
percent
33.6 33.6 33.6 33.6 31.4
Government Budget 0.70
percent of GDP
1.2 1.2 1.2 1.2 0.9
Government Budget Value 5466.98
CZK Million
-3688 -4506 -4549 -4551 -4551
Government Spending 213.98
CZK Billion
214 214 213 213 210
Government Spending to GDP 39.90
percent
41.99 42.23 42.46 42.7 43.83
Government Revenues 131838.90
CZK Million
122262 115258 110010 105928 88748
Government Debt 1754899.00
CZK Million
1765506 1732413 1699320 1666227 1322694
Fiscal Expenditure 112214.15
CZK Million
91711 89811 88478 87230 79205
Military Expenditure 1922.80
USD Million
1926 1984 2042 2100 2494
Asylum Applications 95.00
persons
89.09 87.58 86.29 85.19 80.62
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence 97.50
Index Points
96.96 96.43 95.95 95.52 93.41
Manufacturing PMI 59.80
58.48 57.91 57.35 56.87 54.79
Industrial Production 8.50
percent
7.55 7.1 6.6 3.2 2.5
Industrial Production Mom 3.70
percent
0.54 0.43 0.38 0.3 0.4
Manufacturing Production 10.10
percent
6.71 6.51 6.23 6.03 5.61
New Orders 103.29
Index Points
108 109 109 110 114
Changes in Inventories 14.29
CZK Billion
8.73 8.24 8.12 7.68 6.23
Car Registrations 22925.00
Cars
20638 19654 18889 18264 15959
Internet Speed 16938.04
KBps
15782 15823 15844 15348 13790
IP Addresses 1720644.00
IP
1745472 1750583 1751207 1751285 1740406
Mining Production 3.50
percent
-2.53 -2.61 -2.62 -2.62 -2.62
Steel Production 340.00
Thousand Tonnes
385 407 423 437 491
Competitiveness Index 4.77
Points
4.72 4.72 4.72 4.72 4.59
Competitiveness Rank 31.00
29 29 29 29 38
Corporate Profits 328392.00
CZK Million
311158 311996 312834 313673 282306
Ease of Doing Business 30.00
33 36 40 43 62
Electricity Production 7641.00
Gigawatt-hour
6947 6514 7259 7451 7138
Corruption Index 55.00
Points
55 54 53 53 45
Corruption Rank 47.00
39 41 42 44 43
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 110.00
Index Points
109 108 107 106 100
Retail Sales MoM 3.10
percent
0.73 0.42 0.37 0.3 0.5
Retail Sales YoY 7.80
percent
6.17 5.87 5.59 2.8 2.2
Consumer Spending 545.62
CZK Billion
554 557 560 562 568
Personal Savings 10.18
percent
10.27 11.53 10.65 11.99 11.62
Consumer Credit 229282.00
CZK Million
230894 231206 231167 230996 229041
Private Sector Credit 2810798.01
CZK Million
2799894 2792726 2786637 2781161 2743804
Gasoline Prices 1.38
USD/Liter
1.38 1.37 1.37 1.36 1.31
Households Debt To Gdp 31.50
percent of GDP
31.45 31.41 31.34 31.28 30.79
Households Debt To Income 59.22
percent
57.3 57.9 58.49 59.09 56.48
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Construction Output 1.90
percent
1.51 1.49 1.43 0.9 1.5
Housing Index 118.90
Index points
118 115 113 110 106
Building Permits 6999.00
units
8449 9356 9797 9967 10033
Housing Starts 8316.00
7389 8157 8145 7730 7928
Home Ownership Rate 78.20
percent
77.32 77.56 77.81 78.06 77.5
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 19.00
percent
19 19 19 19 20
Personal Income Tax Rate 22.00
percent
23 23 23 23 25
Sales Tax Rate 21.00
percent
21 21 21 21 20
Social Security Rate 45.00
percent
45 45 45 45 46
Social Security Rate For Companies 34.00
percent
34.08 34.08 34.08 34.08 34.3
Social Security Rate For Employees 11.00
percent
11.12 11.12 11.12 11.12 11.45