Czech Republic - Economic Forecasts - 2018-2020 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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.40 0.5 0.8 0.7 0.6 0.5 percent
Unemployment Rate 2.90 2.6 2.4 2.4 2.5 2.6 percent
Inflation Rate 2.60 2.1 2 2.2 1.8 2.1 percent
Interest Rate 1.00 1 1 1.25 1.25 1.5 percent
Balance of Trade 28805.00 29000 16000 50000 38000 25000 CZK Million
Government Debt to GDP 34.60 32.6 32.6 30.4 30.4 29.6 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 22.14
 22.88 23.36 23.85 24.36 26.48
Stock Market 1083.32
points		 1050 1027 1004 982 899
Government Bond 10Y 1.91
percent		 2.27 2.53 2.83 3.15 4.87
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.40
percent		 0.5 0.8 0.7 0.6 0.5
GDP Annual Growth Rate 4.40
percent		 3.5 3.6 3.8 3.4 3
GDP 215.73
USD Billion		 218 218 220 220 221
GDP Constant Prices 1177.19
CZK Billion		 1184 1215 1222 1194 1292
Gross National Product 4735267.00
CZK MN		 4624135 4905737 4915207 4785975 5219655
Gross Fixed Capital Formation 317.87
CZK Billion		 309 318 330 314 338
GDP per capita 22779.29
USD		 23000 23000 23500 23500 24000
GDP per capita PPP 32605.91
USD		 33100 33100 34100 34100 34800
GDP From Agriculture 20808.00
CZK Million		 20665 21156 21599 21047 22510
GDP From Construction 62853.00
CZK Million		 60217 60779 65241 61963 64668
GDP From Manufacturing 286170.00
CZK Million		 288218 296022 297044 288731 314965
GDP From Public Administration 141453.00
CZK Million		 140326 144407 146828 143860 153648
GDP From Services 195896.00
CZK Million		 198461 202338 203340 201050 215286
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 2.90
percent		 2.6 2.4 2.4 2.5 2.6
Unemployed Persons 229632.00
 236357 225138 229276 225615 226433
Long Term Unemployment Rate 0.80
percent		 0.76 0.65 0.72 0.63 0.6
Youth Unemployment Rate 7.60
percent		 8.22 8.46 8.5 8.56 8.59
Labour Costs 119.71
Index Points		 118 121 125 125 131
Job Vacancies 283243.00
 285922 284645 283728 283351 283203
Wages 30265.00
CZK/Month		 32000 33500 32000 31490 38000
Wages in Manufacturing 29920.00
CZK/Month		 30500 31500 32000 31306 34500
Minimum Wages 477.78
EUR/Month		 478 478 510 519 550
Population 10.61
Million		 10.61 10.61 10.64 10.64 10.66
Retirement Age Women 62.67
 62.67 62.67 63.17 63 63.67
Retirement Age Men 63.33
 63.33 63.33 63.5 63 63.67
Labor Force Participation Rate 60.30
percent		 60.55 60.42 60.16 60.28 60.38
Living Wage Family 17900.00
CZK/Month		 18300 18300 18039 18101 18800
Living Wage Individual 12600.00
CZK/Month		 11973 11839 12009 12179 12456
Part Time Employment 320.20
Thousand		 320 322 320 323 323
Productivity 103.40
Index Points		 110 110 110 110 110
Wage Growth 6.60
percent		 5.1 4.8 4.5 4 2.5
Wages Low Skilled 15200.00
CZK/Month		 15600 15600 15600 14267 16200
Wages High Skilled 34400.00
CZK/Month		 35400 35400 35400 32307 37000
Employed Persons 5258.23
Thousand		 5318 5319 5318 5337 5401
Employment Change 0.50
percent		 0.51 0.25 0.47 0.42 0.4
Employment Rate 74.20
percent		 75.22 75.3 75.25 75.66 76.86
Full Time Employment 4794.20
Thousand		 4816 4814 4788 4798 4813
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.60
percent		 2.1 2 2.2 1.8 2.1
Inflation Rate Mom 0.40
percent		 0.07 0.12 0.13 0.12 0.12
Harmonised Consumer Prices 102.40
Index Points		 105 104 104 104 109
Consumer Price Index CPI 105.60
Index Points		 202 203 107 108 212
Core Consumer Prices 107.29
Index Points		 108 109 109 110 113
Core Inflation Rate 2.13
percent		 2.16 2.16 2.16 2.16 2.16
GDP Deflator 110.90
Index Points		 112 113 112 113 114
Producer Prices 100.80
Index Points		 113 114 101 103 119
Producer Prices Change 2.90
percent		 1.5 1.8 2 2.2 2.2
Export Prices 94.90
Index Points		 94.59 94.64 94.61 94.63 94.62
Import Prices 94.10
Index Points		 93.79 93.85 93.81 93.84 93.83
CPI Housing Utilities 151.90
Index Points		 152 152 153 155 159
CPI Transportation 108.10
Index Points		 106 107 107 110 111
Food Inflation 2.70
percent		 1.8 1.7 2 2.5 3
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 1.00
percent		 1 1 1.25 1.25 1.5
Interbank Rate 0.17
percent		 0.17 0.17 0.42 0.42 0.67
Money Supply M0 551387.50
CZK Million		 560968 567966 574945 581907 650554
Money Supply M1 3873921.65
CZK Million		 3954274 4025737 4095835 4165154 4841688
Money Supply M2 4298504.93
CZK Million		 4387109 4454858 4521639 4587490 5197587
Foreign Exchange Reserves 144130.30
USD Million		 142893 142327 141876 141564 140853
Banks Balance Sheet 7563611.80
CZK Million		 7728674 7862806 7994350 8124891 9365578
Loans to Private Sector 1063733.00
CZK Million		 1063406 1067770 1071601 1075014 1093984
Deposit Interest Rate 0.05
percent		 0.05 0.05 0.3 0.3 0.55
Lending Rate 2.00
percent		 2 2 2.25 2.25 2.5
Private Debt to GDP 138.30
percent		 132 130 130 129 125
Money Supply M3 4433299.00
CZK Million		 4540069 4619315 4697494 4774700 5496057
Cash Reserve Ratio 2.00
percent		 2 2 2 2 2
Central Bank Balance Sheet 3218021.20
CZK Million		 3150825 3146856 3149318 3148378 3148589
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 28805.00
CZK Million		 29000 16000 50000 38000 25000
Exports 359898.74
CZK Million		 365000 322000 429000 392000 369000
Imports 331093.97
CZK Million		 336000 306000 379000 354000 344000
Current Account 2310.80
EUR Million		 -1404 -420 3870 -470 -370
Current Account to GDP 1.10
percent		 1 1 0.7 0.7 0.6
External Debt 169970.00
EUR Million		 171000 118000 171000 171000 122000
Terms of Trade 100.90
Index Points		 101 101 101 101 101
Capital Flows 13426.23
CZK MN		 12022 11764 11810 11825 11822
Foreign Direct Investment 173269.05
CZK Million		 -82975 -141065 -269153 -397242 -63140
Remittances 523.10
EUR Million		 580 609 588 611 616
Gold Reserves 9.30
Tonnes		 9.26 9.23 9.17 9.14 8.92
Terrorism Index 1.89
 1.53 1.52 1.36 1.19 1.89
Weapons Sales 110.00
USD Million		 99.44 79.26 65.23 51.2 33.61
Crude Oil Production 2.00
BBL/D/1K		 2 2 2 2 2
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 34.60
percent		 32.6 32.6 30.4 30.4 29.6
Government Budget 1.60
percent of GDP		 1.4 1.4 1.1 1.1 0.9
Government Budget Value 17215.49
CZK Million		 16702 11135 11605 9364 4229
Government Spending 220.23
CZK Billion		 217 225 229 221 239
Government Spending to GDP 38.80
percent		 41.25 41.14 41.43 41.71 43.56
Government Revenues 142109.27
CZK Million		 124425 124348 119978 117768 112640
Government Debt 1749141.00
CZK Million		 1710110 1697488 1689238 1680988 1527433
Fiscal Expenditure 124893.79
CZK Million		 107723 108440 108374 108404 108411
Military Expenditure 2101.04
USD Million		 2109 2153 2164 2175 2243
Asylum Applications 95.00
persons		 94.95 94.9 94.89 94.89 94.89
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 97.40
Index Points		 95.6 97.3 94.2 92.9 93.5
Manufacturing PMI 56.80
 56.2 56.5 54.4 54.2 53.8
Industrial Production 1.40
percent		 4.5 3.8 3.6 1.68 2.5
Industrial Production Mom 2.90
percent		 0.6 -0.7 0.4 0.32 0.4
Manufacturing Production 1.00
percent		 2.63 2.77 2.74 2.7 2.66
New Orders 109.54
Index Points		 106 106 106 106 106
Changes in Inventories 15.73
CZK Billion		 11.7 11.12 10.36 9.58 6.83
Car Registrations 25720.00
 23019 23900 23321 23728 23592
Internet Speed 16938.04
KBps		 16794 16508 16442 16669 16578
IP Addresses 1720644.00
IP		 1733880 1734458 1734906 1736407 1738782
Mining Production 6.30
percent		 -3.13 -3.13 -3.08 -3.08 -3.08
Steel Production 410.21
Thousand Tonnes		 412 413 413 413 414
Competitiveness Index 4.77
Points		 4.71 4.71 4.78 4.8 4.8
Competitiveness Rank 31.00
 32 32 32 32 33
Corporate Profits 328392.00
CZK Million		 340471 344448 346908 349368 413717
Ease of Doing Business 30.00
 29 30 30 30 30
Electricity Production 7190.00
Gigawatt-hour		 6850 7228 7200 7010 7118
Corruption Index 57.00
Points		 57 57 57 56 52
Corruption Rank 42.00
 43 43 43 43 42
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 113.00
Index Points		 113 110 113 113 110
Retail Sales MoM 0.40
percent		 -0.3 -0.4 0.5 0.42 0.5
Retail Sales YoY 5.00
percent		 5.5 4 3.7 4.95 2.2
Consumer Spending 552.55
CZK Billion		 555 568 574 559 605
Personal Savings 10.18
percent		 10.35 11.63 10.08 11.27 11.09
Consumer Credit 235022.20
CZK Million		 238290 240644 242920 245121 263498
Private Sector Credit 2892254.79
CZK Million		 2940148 2973884 3005857 3036158 3264392
Gasoline Prices 1.46
USD/Liter		 1.38 1.31 1.23 1.16 0.68
Households Debt To Gdp 121.70
percent of GDP		 119 119 118 118 117
Households Debt To Income 59.22
percent		 59.45 60.11 60.64 61.16 64.92
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 10.10
percent		 4.4 2.9 2.5 2.1 1.9
Housing Index 125.10
Index points		 129 130 130 131 129
Building Permits 7565.00
units		 7179 6545 6953 7219 6971
Housing Starts 7618.00
 8657 8377 8242 8752 8837
Home Ownership Rate 78.50
percent		 78.16 78.4 78.43 78.46 78.66
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 19.00
percent		 19 19 19 19 19
Personal Income Tax Rate 22.00
percent		 22 22 23 24 24
Sales Tax Rate 21.00
percent		 21 21 21 21 21
Social Security Rate 45.00
percent		 45 45 45 45 45
Social Security Rate For Companies 34.00
percent		 34 34 34 34 34
Social Security Rate For Employees 11.00
percent		 11 11 11 11 11
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 18.66
celsius		 16.13 3.06 -0.7 11.73 7.81