Economy of Czech Republic
Population: 10.63 M (2018)
GDP per Capita: 23,079 USD (2018)
245,230 M.

GDP USD

(2018)

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192,220 M.

EXPORTS USD

(2018)

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176,570 M.

IMPORTS USD

(2018)

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30.79 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.96 % (2018)
GDP of 2010 USD USD 248.20 B. (2018)
GDP Current USD USD 245.23 B. (2018)
GDP per Capita Current USD USD 23,079 (2018)
GDP per capita, PPP USD 33,436 (2018)
GDP per Capita, 2010 USD USD 23,359 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 19.97 % (2018)
Government Spending USD 48.97 B. (2018)
Government Debt % GDP 30.79 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 133.62 (2018)
Trade Openness 150.39 % (2018)
Exports of Goods and Services % GDP 78.39 % (2018)
Exports Goods & Services USD 192.22 B. (2018)
Exports Annual Growth 4.41 % (2018)
Imports as % GDP 72.00 % (2018)
Total Imports USD 176.57 B. (2018)
Foreign Direct Investment % GDP 3.46 % (2018)
Foreign Direct Investment USD 8.49 B. (2018)
Current Account Balance % GDP USD 0.35 % (2018)
Current Account Balance USD 0.86 B. (2018)
Trade Balance % GDP 6.38 % (2018)
Trade Balance USD 15.71 B. (2018)
Foreign Exchange Reserves incl Gold USD 142.51 B. (2018)
Remittances % GDP 1.60 % (2018)
Remittances USD 871 M. (2018)
Balance of Payments USD 2,522 M. (2015)

Labor Market

Indicator Value
Labor Force 5.38 M. (2019)
Unemployment Rate 2.47 % (2019)
Unemployment Rate Females 2.38 % (2019)
Unemployment Rate Males 1.57 % (2019)
Youth Unemployment (ages 15-24) 7.85 % (2019)
Labor Force Participation Rate 60.02 % (2019)
Labor Force (Percent Female) 44.74 % (2019)
Female Labor Force Participation Rate 52.33 % (2019)
Male Labor Force Participation Rate 68.09 % (2019)
Dependent People 53.86 % (2018)

Agriculture Sector

Indicator Value
Forest Area 34.60 % (2016)
Forest Area km² 26,690 km² (2016)
Agricultural Land 45.18 % (2016)
Agricultural Land km² 34,890 km² (2016)
Employment 2.75 % (2019)
Value added % GDP 1.97 % (2018)
Agriculture Value added USD 4.82 B. (2018)
Crop Production Index 115.20 (2016)
Precipitation 677 mm (2014)
Arable Land 32 % (2016)
Cereal Yield 5,498 kg/hectare (2017)
Food production index 103 (2016)
Rural Population 26 % (2018)
Fertilizer use of Arable Land 196 kg/hectare (2016)
Livestock Production Index 88 (2016)
Economy of Czech Republic

According to the World Bank and its latest published data, the economy of the Czech Republic presents a growth rate of 2.96 % (2018) to the previous year.

With a population that reaches 10.63 M (2018) and a gross domestic product of USD 245.23 B. (2018), it translates a Gross Domestic Product per Capita of USD 23,079 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Czech Republic also has a workforce of 5.38 M. (2019) with an unemployment rate of 2.47 % (2019), where women represent 2.38 % (2019) and men 1.57 % (2019), the unemployment rate for young people between 15-24 years old stood at 7.85 % (2019). The total number of dependent people stands at 53.86 % (2018).

The central government spent 19.97 % (2018) of its gross domestic product that year, which in absolute terms is USD 48.97 B. (2018). Its consolidated public debt reached 30.79 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Czech Republic exported USD 192.22 B. (2018), which represents 78.39 % (2018) of its gross domestic product, in that same sense its imports reached USD 176.57 B. (2018) with a direct foreign investment of USD 8.49 B. (2018).

Czech Republic has a forest area of 26,690 km² (2016), which represents 34.60 % (2016) of its total area, an average rainfall of 677 mm (2014) per year and a population of 26 % (2018) living in rural areas. With a total area of 34,890 km² (2016) available for agriculture and 2.75 % (2019) of its employments, the agricultural sector contributes to the economy of the Czech Republic about USD 4.82 B. (2018) (1.97 % (2018) of its GDP).