Czech Republic

GDP growth has been losing momentum gradually as productive investment starts to decline. Labour resources are nearing depletion, but labour shortages have failed to prompt intensified capital formation. A high dependence on the car industry may become a problem. Signs of recession in Germany are spilling over into Czech manufacturing. Consumption remains the backbone of a subdued output growth. We forecast average growth of around 2.5% in the medium run.

map Czech Republic
        FORECAST*
Main Economic Indicators201620172018201920202021
Population, 1000 persons105661059410630...
GDP, real change in %2.54.43.02.52.42.6
GDP per capita (EUR at PPP)256002690028200...
Gross industrial production, real change in %3.46.53.1...
Unemployment rate - LFS, in %, average4.02.92.22.02.02.0
Average gross monthly wages, EUR102711261243...
Consumer prices, % p.a.0.62.42.02.52.12.1
Fiscal balance in % of GDP0.71.61.1...
Public debt in % of GDP36.834.732.6...
Current account in % of GDP1.61.60.30.40.30.2
FDI inflow, EUR mn980999977272...
Gross external debt in % of GDP73.489.381.5...


Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.

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CZECH REPUBLIC: Weak growth at full employment

Leon Podkaminer
in: Braced for Fallout from Global Slowdown
wiiw Forecast Report No. Autumn 2019, November 2019 , pp. 60-63
Details and Buy

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Monthly Report No. 6/2019

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure

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