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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.70 0.5 0.8 0.7 0.7 0.5 percent
Unemployment Rate 3.10 2.6 2.4 2.4 2.5 2.6 percent
Inflation Rate 2.50 2.4 2.2 2.1 2 2 percent
Interest Rate 1.25 1.5 1.5 1.5 1.75 2.5 percent
Balance of Trade 12189.00 29000 16000 50000 38000 25000 CZK Million
Government Debt to GDP 34.60 32.6 32.6 30.4 30.4 29.6 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 21.72
22.21 22.37 22.53 22.68 23.33
Stock Market 1101.71
points
1071 1064 1056 1048 1018
Government Bond 10Y 2.19
percent
2.19 2.27 2.34 2.43 2.78
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.70
percent
0.5 0.8 0.7 0.7 0.5
GDP Annual Growth Rate 2.40
percent
2.8 3 3.3 3.4 3.2
GDP 215.73
USD Billion
218 218 220 220 221
GDP Constant Prices 1181.33
CZK Billion
1180 1208 1216 1221 1287
Gross National Product 4735267.00
CZK MN
4592860 4877325 4891531 4896266 5199502
Gross Fixed Capital Formation 315.71
CZK Billion
308 316 328 326 337
GDP per capita 22779.29
USD
23000 23000 23500 23500 24000
GDP per capita PPP 32605.91
USD
33100 33100 34100 34100 34800
GDP From Agriculture 17277.00
CZK Million
20594 21034 21495 17864 22423
GDP From Construction 58978.00
CZK Million
60010 60427 64927 60983 64419
GDP From Manufacturing 287180.00
CZK Million
287227 294308 295614 296944 313749
GDP From Public Administration 143998.00
CZK Million
139844 143571 146121 148894 153054
GDP From Services 202696.00
CZK Million
197779 201166 202361 209588 214454
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.10
percent
2.6 2.4 2.4 2.5 2.6
Unemployed Persons 230499.00
236357 225138 229276 225615 226433
Long Term Unemployment Rate 0.80
percent
0.69 0.58 0.64 0.54 0.5
Youth Unemployment Rate 6.60
percent
5.73 6.14 5.68 5.77 5.68
Labour Costs 116.19
Index Points
114 117 122 120 122
Job Vacancies 313224.00
285922 284645 283728 283351 283203
Wages 31851.00
CZK/Month
32000 33500 32000 31851 38000
Wages in Manufacturing 32355.00
CZK/Month
30500 31500 32000 32353 34500
Minimum Wages 468.87
EUR/Month
469 469 510 510 550
Population 10.61
Million
10.61 10.61 10.64 10.64 10.66
Retirement Age Women 62.67
62.67 62.67 63.17 63 63.67
Retirement Age Men 63.33
63.33 63.33 63.5 63 63.67
Labor Force Participation Rate 60.30
percent
60.73 60.61 60.49 60.61 60.7
Living Wage Family 17900.00
CZK/Month
18300 18300 18039 18101 18800
Living Wage Individual 12600.00
CZK/Month
11973 11839 12009 12179 12456
Part Time Employment 320.20
Thousand
321 324 322 324 325
Productivity 107.60
Index Points
109 109 110 110 110
Wage Growth 6.20
percent
5.1 4.8 4.5 4 2.5
Wages Low Skilled 15200.00
CZK/Month
15600 15600 15600 14267 16200
Wages High Skilled 34400.00
CZK/Month
35400 35400 35400 32307 37000
Employed Persons 5289.07
Thousand
5318 5319 5318 5337 5401
Employment Change 0.60
percent
0.51 0.25 0.47 0.42 0.4
Employment Rate 74.20
percent
75.22 75.3 75.25 75.66 76.86
Full Time Employment 4794.20
Thousand
4840 4837 4825 4837 4856
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.50
percent
2.4 2.2 2.1 2 2
Inflation Rate Mom 0.10
percent
0.1 0.3 0.2 0.3 0.2
Harmonised Consumer Prices 102.40
Index Points
105 104 104 104 109
Consumer Price Index CPI 105.90
Index Points
203 203 107 108 212
Core Consumer Prices 107.59
Index Points
108 109 109 110 113
Core Inflation Rate 1.96
percent
2.16 2.16 2.16 2.16 2.16
GDP Deflator 111.60
Index Points
112 112 112 113 113
Producer Prices 101.20
Index Points
102 126 102 104 137
Producer Prices Change 3.30
percent
3.3 3.6 3.1 2.8 2.2
Export Prices 97.30
Index Points
96.89 96.92 96.92 96.92 96.92
Import Prices 97.50
Index Points
97.26 97.37 97.37 97.38 97.38
CPI Housing Utilities 153.00
Index Points
152 152 153 155 159
CPI Transportation 107.90
Index Points
106 107 107 110 111
Food Inflation 0.60
percent
1.8 1.7 2 2.5 3
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 1.25
percent
1.5 1.5 1.5 1.75 2.5
Interbank Rate 0.17
percent
0.42 0.42 0.42 0.67 1.42
Money Supply M0 554097.40
CZK Million
558937 565123 571501 577882 641252
Money Supply M1 3878407.86
CZK Million
3925022 3990115 4055953 4121329 4757502
Money Supply M2 4289003.25
CZK Million
4327355 4382956 4437532 4491118 4976459
Foreign Exchange Reserves 144722.40
USD Million
144928 144812 144779 144744 144658
Banks Balance Sheet 7464537.40
CZK Million
7573193 7681210 7788591 7895340 8928883
Loans to Private Sector 1081520.30
CZK Million
1094806 1105363 1114943 1123566 1173908
Deposit Interest Rate 0.05
percent
0.3 0.3 0.3 0.55 1.3
Lending Rate 2.25
percent
2.5 2.5 2.5 2.75 3.5
Private Debt to GDP 138.30
percent
132 130 130 129 125
Money Supply M3 4433900.70
CZK Million
4476768 4544247 4610686 4676131 5279044
Cash Reserve Ratio 2.00
percent
2 2 2 2 2
Central Bank Balance Sheet 3241416.70
CZK Million
3290577 3292845 3292639 3293047 3292896
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 12189.00
CZK Million
29000 16000 50000 38000 25000
Exports 329644.00
CZK Million
365000 322000 429000 392000 369000
Imports 317455.00
CZK Million
336000 306000 379000 354000 344000
Current Account 327.50
EUR Million
-1404 -420 3870 -470 -370
Current Account to GDP 1.10
percent
1 1 0.7 0.7 0.6
External Debt 168625.30
EUR Million
171000 118000 171000 171000 122000
Terms of Trade 99.80
Index Points
99.62 99.53 99.54 99.53 99.53
Capital Flows 25237.89
CZK MN
14785 12855 13055 13172 13159
Foreign Direct Investment 173269.05
CZK Million
-82975 -141065 -269153 -397242 -63140
Remittances 523.10
EUR Million
541 572 533 565 563
Gold Reserves 9.30
Tonnes
9.26 9.23 9.17 9.14 8.92
Terrorism Index 1.89
1.53 1.52 1.36 1.19 1.89
Weapons Sales 110.00
USD Million
99.44 79.26 65.23 51.2 33.61
Crude Oil Production 2.00
BBL/D/1K
1.99 2 2 2 2
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 34.60
percent
32.6 32.6 30.4 30.4 29.6
Government Budget 1.60
percent of GDP
1.4 1.4 1.1 1.1 0.9
Government Budget Value -1811.56
CZK Million
16829 13138 13569 11490 5995
Government Spending 220.72
CZK Billion
216 224 228 228 238
Government Spending to GDP 38.80
percent
41.25 41.14 41.43 41.71 43.56
Government Revenues 101241.66
CZK Million
123509 124543 119917 117933 112453
Government Debt 1749141.00
CZK Million
1738477 1746428 1734266 1722104 1704794
Fiscal Expenditure 103053.22
CZK Million
106681 106677 106348 106443 106458
Military Expenditure 2101.04
USD Million
2109 2153 2164 2175 2243
Asylum Applications 90.00
persons
94.95 94.9 94.89 94.89 94.89
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 96.90
Index Points
97.5 97.3 94.2 92.9 93.5
Manufacturing PMI 54.90
56.2 56.5 54.4 54.2 53.8
Industrial Production 10.30
percent
4.5 3.8 3.6 7.33 2.5
Industrial Production Mom -1.80
percent
0.6 -0.7 0.4 0.34 0.4
Manufacturing Production 8.80
percent
4.86 5.35 5.32 5.24 5.16
New Orders 111.24
Index Points
110 110 110 110 110
Changes in Inventories -8.99
CZK Billion
-2.33 3.82 5.1 3.88 6.12
Car Registrations 27830.00
23396 24525 23738 24200 24062
Internet Speed 16938.04
KBps
16794 16508 16442 16669 16578
IP Addresses 1720644.00
IP
1733880 1734458 1734906 1736407 1738782
Mining Production 13.50
percent
0.22 -2.44 -2.43 -2.4 -2.41
Steel Production 443.50
Thousand Tonnes
435 428 425 424 422
Competitiveness Index 4.77
Points
4.71 4.71 4.78 4.8 4.8
Competitiveness Rank 31.00
32 32 32 32 33
Corporate Profits 310627.00
CZK Million
320358 315042 319550 324057 354203
Ease of Doing Business 30.00
29 30 30 30 30
Electricity Production 6755.00
Gigawatt-hour
6753 7336 7231 6952 7121
Corruption Index 57.00
Points
57 57 57 56 52
Corruption Rank 42.00
43 43 43 43 42
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 110.30
Index Points
111 110 111 111 110
Retail Sales MoM 0.70
percent
0.3 -0.4 0.5 0.3 0.5
Retail Sales YoY 5.60
percent
5.5 4 3.7 4.27 2.2
Consumer Spending 560.60
CZK Billion
553 565 571 580 602
Personal Savings 8.24
percent
9.82 10.38 8.82 10.62 10.05
Consumer Credit 238329.40
CZK Million
240180 242876 245485 248009 269186
Private Sector Credit 2962718.29
CZK Million
2998670 3050502 3099922 3147045 3513076
Gasoline Prices 1.54
USD/Liter
1.57 1.48 1.4 1.32 1.04
Households Debt To Gdp 121.70
percent of GDP
119 119 118 118 117
Households Debt To Income 56.64
percent
58 57.58 57.26 56.94 55.99
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 15.80
percent
4.4 2.9 2.5 3 1.9
Housing Index 125.10
Index points
129 130 130 131 129
Building Permits 7089.00
units
6699 6660 6957 6942 6863
Housing Starts 8938.00
units
8657 8377 8242 8752 8837
Home Ownership Rate 78.50
percent
79 79.15 79.28 79.41 80.08
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 19.00
percent
19 19 19 19 19
Personal Income Tax Rate 22.00
percent
22 22 23 24 24
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 34 34 34 34
Social Security Rate For Employees 11.00
percent
11 11 11 11 11
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 18.66
celsius
16.13 3.06 -0.7 11.73 7.81