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 4.40 4.7 4.7 4.5 4.5 5 percent [+]
Inflation Rate 2.00 3.2 3.6 3.4 3 2.6 percent [+]
Interest Rate 0.05 0.05 0.05 0.05 0.05 0.75 percent [+]
Balance of Trade 50070.00 39913 37180 40041 39623 39397 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 23.57 25.65 25.91 26.67 26.42 30.48 [+]
Stock Market 1014.22 975 965 935 945 788 points [+]
Government Bond 10Y 0.85 1.04 1.05 1.06 1.07 1.24 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 2.4 2.6 2.8 3 2.2 percent [+]
GDP 185.16 187 187 190 185 205 USD Billion [+]
GDP Constant Prices 1100.67 1109 1111 1113 1115 1126 CZK Billion [+]
Gross National Product 4255247.00 4261741 4345705 4429669 4470933 5104220 CZK MN [+]
Gross Fixed Capital Formation 275.18 281 282 284 284 283 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 20175.00 19890 20079 19887 20087 20002 CZK Million [+]
GDP From Construction 54708.00 54377 53963 54138 53941 53931 CZK Million [+]
GDP From Manufacturing 265288.00 267321 268521 268380 269111 269474 CZK Million [+]
GDP From Public Administration 141473.00 142099 142396 142655 142887 144344 CZK Million [+]
GDP From Services 181394.00 181380 181359 181393 181347 181350 CZK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.40 4.7 4.7 4.5 4.5 5 percent [+]
Unemployed Persons 327199.00 314629 321946 308482 313598 310168 [+]
Long Term Unemployment Rate 1.40 1.25 1.29 1.17 1.24 1.09 percent [+]
Youth Unemployment Rate 9.30 9.47 9.35 9.34 9.31 9.27 percent [+]
Labour Costs 110.39 110 110 113 116 118 Index Points [+]
Job Vacancies 159072.00 169923 176668 177820 177611 177276 [+]
Wages 29320.00 28454 28335 30359 28752 33249 CZK/Month [+]
Wages in Manufacturing 29141.00 29140 27796 29139 27797 29133 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 0.70 0.34 0.35 0.62 0.57 0.5 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 114.70 109 109 109 109 109 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 2.00 3.2 3.6 3.4 3 2.6 percent [+]
Inflation Rate Mom 0.00 0.15 0.2 0.16 0.18 0.17 percent [+]
Harmonised Consumer Prices 102.10 102 101 101 101 101 Index Points [+]
Consumer Price Index CPI 196.70 197 198 198 199 206 Index Points [+]
Core Consumer Prices 104.78 105 105 105 106 108 Index Points [+]
Core Inflation Rate 1.95 1.83 1.85 1.85 1.85 1.85 percent [+]
GDP Deflator 108.50 109 109 109 109 110 Index Points [+]
Producer Prices 112.10 114 116 118 120 137 Index Points [+]
Producer Prices Change 3.20 4.2 5.2 3.8 3.2 2.4 percent [+]
Export Prices 101.40 101 101 101 101 101 Index Points [+]
Import Prices 102.40 103 103 103 103 103 Index Points [+]
Cpi Housing Utilities 147.00 147 148 148 148 152 Index Points [+]
Cpi Transportation 104.10 104 104 104 104 104 Index Points [+]
Food Inflation 3.60 3.14 3.02 3.09 3.06 3.07 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 521832.30 530056 538448 546809 555129 644004 CZK Million [+]
Money Supply M1 3620296.35 3727405 3828144 3929252 4030517 5120260 CZK Million [+]
Money Supply M2 4017269.88 4101815 4193948 4284444 4373621 5272287 CZK Million [+]
Foreign Exchange Reserves 136042.30 151685 174883 196183 217395 412530 USD Million [+]
Banks Balance Sheet 7105824.00 7278012 7528813 7764070 7996741 10285901 CZK Million [+]
Loans to Private Sector 1225874.25 1249770 1262338 1273459 1283307 1339451 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 3345626.80 4392110 5367827 6252279 7045307 10523932 CZK Million [+]
Private Debt to GDP 136.05 138 136 135 135 127 percent [+]
Money Supply M3 4085364.40 4186298 4292734 4397430 4500599 5540563 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 50070.00 39913 37180 40041 39623 39397 CZK Million [+]
Exports 388963.00 337268 352789 349212 348638 349358 CZK Million [+]
Imports 338893.00 306549 318231 311303 314093 313358 CZK Million [+]
Current Account -845.40 -263 -891 -597 1937 -351 EUR Million [+]
Current Account to GDP 0.90 0.8 1.47 2.3 2.06 0.91 percent [+]
External Debt 130572.90 112000 136000 116000 140000 122000 EUR Million [+]
Terms of Trade 99.00 99.06 99.07 99.08 99.08 99.08 Index Points [+]
Capital Flows 27984.93 19632 16410 16924 17204 17156 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 9.76 9.66 9.58 9.6 9.52 9.38 Tonnes [+]
Crude Oil Production 2.00 1.98 1.97 1.94 1.96 1.96 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 1589.70 -1995 -1666 -1864 -1852 -1854 CZK Million [+]
Government Spending 207.11 207 207 207 207 207 CZK Billion [+]
Government Spending to GDP 39.90 42.28 42.46 42.63 42.76 43.9 percent [+]
Government Revenues 99654.09 113648 109638 108465 107124 104111 CZK Million [+]
Government Debt 1836166.00 1800197 1772136 1744074 1727904 1511931 CZK Million [+]
Fiscal Expenditure 98064.40 104782 103846 103881 103912 103919 CZK Million [+]
Asylum Applications 110.00 98.41 98.85 98.76 98.71 98.72 persons [+]
Military Expenditure 2099.30 2044 2074 2104 2106 2130 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 57.50 58.37 58.37 58.51 58.55 58.55 [+]
Industrial Production 10.89 10.25 9.92 3.6 9.73 2.5 percent [+]
Industrial Production Mom -0.40 0.5 0.33 0.4 0.34 0.4 percent [+]
Manufacturing Production 13.10 11.68 10.84 10.46 10.33 10.27 percent [+]
New Orders 115.09 113 113 112 112 112 Index Points [+]
Changes in Inventories 8.94 8.69 7.94 7.34 6.96 5.8 CZK Billion [+]
Car Registrations 22749.00 22504 23120 22348 22537 22497 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 7858.00 6772 6849 7427 7282 7123 Gigawatt-hour [+]
Steel Production 447.00 435 438 438 438 438 Thousand Tonnes [+]
Mining Production -0.20 -3.39 -3.98 -3.97 -3.96 -3.96 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 108.40 108 108 108 108 108 [+]
Retail Sales MoM 1.20 0.5 0.8 0.4 0.42 0.5 percent [+]
Retail Sales YoY 7.80 1.7 2.1 2.5 4.61 2.2 percent [+]
Consumer Spending 521.28 527 530 533 536 563 CZK Billion [+]
Personal Savings 12.91 12.65 11.42 12.69 11.61 12.32 percent [+]
Consumer Credit 221342.00 286136 282507 282726 282722 282713 CZK Million [+]
Private Sector Credit 2711582.49 2762972 2811635 2857829 2901681 3259475 CZK Million [+]
Gasoline Prices 1.21 1.24 1.25 1.23 1.23 1.23 USD/Liter [+]
Households Debt To Gdp 31.00 30.97 31.06 31.1 31.14 31.57 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 6.20 0.2 1.83 0.6 1.14 1.5 percent [+]
Housing Index 118.50 129 134 138 141 162 Index points [+]
Building Permits 6944.00 7563 7034 6660 6990 6959 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 [+]