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
Main Economic Indicators201720182019202020212022
Population, 1000 persons105941063010670...
GDP, real change in %
GDP per capita (EUR at PPP)268002800029100...
Gross industrial production, real change in %6.53.1-0.4...
Unemployment rate - LFS, in %, average2.
Average gross monthly wages, EUR112612431328...
Consumer prices, % p.a.
Fiscal balance in % of GDP1.61.10.6...
Public debt in % of GDP34.732.630.3...
Current account in % of GDP1.
FDI inflow, EUR mn999772728000...
Gross external debt in % of GDP89.381.680.0...

Basic data are continuously updated.

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


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


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