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||1997 - 2015
Czech Republic has one of the most developed industrialized economies among the emerging democracies in central and eastern Europe. However, Czech GDP contracted by 4.9 percent in 2009 due to a contraction of exports and industrial production in a response of lower external demand from its main trading partners. It saw positive growth in the following two years, but a new slump in external demand and the government’s austerity measures led the country to fall into recession again later in 2012. It only returned to steady growth in 2014 (+2 percent), as final consumption expenditure and exports finally recovered. On the expenditure side, 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. This page provides the latest reported value for - Czech Republic GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Czech Republic GDP Annual Growth Rate - was last refreshed on Friday, November 27, 2015.