The Czech Republic's gross domestic product advanced 1.5 percent on quarter in the three months ending September of 2021, following a 1.0 percent increase in the previous period and compared with a preliminary estimate of a 1.4 percent rise. The positive GDP development was supported solely by the domestic demand, with increases in both household consumption (4.3 percent) and government spending (2.6 percent). Meanwhile, fixed investment declined (-3.1 percent). Also, external demand had a negative influence, as exports and imports fell 5.9 percent and 3.3 percent, respectively. On a yearly basis, the economy expanded by 3.1 percent, above an earlier estimate of a 2.8 percent rise. source: Czech Statistical Office

GDP Growth Rate in Czech Republic averaged 0.54 percent from 1995 until 2021, reaching an all time high of 7.10 percent in the third quarter of 2020 and a record low of -8.70 percent in the second quarter of 2020. This page provides the latest reported value for - Czech Republic GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Czech Republic GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

GDP Growth Rate in Czech Republic is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Czech Republic GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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Czech Republic GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 07:00 AM QoQ Prel Q3 1.4% 1% 1.8% 2.6%
2021-11-30 08:00 AM QoQ Final Q3 1.5% 1% 1.4% 1.4%
2022-02-02 08:00 AM QoQ Prel Q4 1.5%


Related Last Previous Unit Reference
GDP Growth Rate 1.50 1.00 percent Sep/21
GDP Annual Growth Rate 3.10 8.10 percent Sep/21
GDP Constant Prices 1297.72 1278.58 CZK Billion Sep/21
Gross National Product 5181108.00 5402231.00 CZK Million Dec/20
Gross Fixed Capital Formation 335.28 345.84 CZK Billion Sep/21
GDP From Services 212820.00 198896.00 CZK Million Sep/21
GDP From Public Administration 170778.00 167577.00 CZK Million Sep/21
GDP From Manufacturing 320627.00 330760.00 CZK Million Sep/21
GDP From Construction 51857.00 51599.00 CZK Million Sep/21
GDP From Agriculture 30286.00 30513.00 CZK Million Sep/21

News Stream
Czech Republic GDP Expands More than Initially Thought
The Czech Republic's gross domestic product advanced 1.5 percent on quarter in the three months ending September of 2021, following a 1.0 percent increase in the previous period and compared with a preliminary estimate of a 1.4 percent rise. The positive GDP development was supported solely by the domestic demand, with increases in both household consumption (4.3 percent) and government spending (2.6 percent). Meanwhile, fixed investment declined (-3.1 percent). Also, external demand had a negative influence, as exports and imports fell 5.9 percent and 3.3 percent, respectively. On a yearly basis, the economy expanded by 3.1 percent, above an earlier estimate of a 2.8 percent rise.
2021-11-30
Czech Republic GDP Expands Less than Expected
The Czech Republic economy was seen expanding by 1.4 percent quarter-over-quarter in the three months ending September of 2021, following a 1.0 percent increase in the previous period and missed market expectations of a 1.8 percent rise, according to preliminary estimates. On an annual basis, the economy expanded 2.8 percent, compared to the market consensus of 3.2 percent. The economy was exclusively supported by domestic demand, in particular final consumption of households, gross capital formation, and government spending, while exports likely declined. On the production scope, growth was mostly driven by the trade, the transportation, and the accommodation and food service sectors.
2021-10-29
Czech Republic Q2 GDP Growth Revised Higher
The Czech Republic gross domestic product advanced 1.0 percent on quarter in the three months ending June of 2021, rebounding from an upwardly revised 0.4 percent decline in the previous period and compared to preliminary estimates of a 0.6 percent expansion. The key drivers of economic growth in the second quarter were household spending (6.5 percent), particularly consumption of durable goods and services; and gross fixed capital formation (4.2 percent), mainly investment in houses, vehicles, and other machinery and equipment. Meanwhile, both government spending (-0.2 percent) and net foreign demand weighed down on growth, with exports (0.6 percent) rising slower than imports (4.9 percent). On a yearly basis, the economy jumped 8.2 percent, following an upwardly revised 2.5 percent fall and faster than early estimates of 7.8 percent.
2021-08-31

Czech Republic GDP Growth Rate
In Czech Republic, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by gross fixed capital formation (25 percent) and government expenditure (19 percent). Exports of goods and services account for 84 percent of GDP while imports account for 77 percent, adding 7 percent of total GDP.