The Czech Republic economy retreated 2.1 percent year-on-year in the first quarter of 2021, following a downwardly revised 4.7% slump in the previous period and less than expectations of a 2.6 percent drop. The economy was weighed down by a continuously declining household consumption, while government spending and foreign demand contributed positively to total output. source: Czech Statistical Office

GDP Annual Growth Rate in Czech Republic averaged 2.18 percent from 1997 until 2021, reaching an all time high of 7.40 percent in the second quarter of 2006 and a record low of -10.80 percent in the second quarter of 2020. 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. Czech Republic GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

GDP Annual Growth Rate in Czech Republic is expected to be 9.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Czech Republic to stand at 5.00 in 12 months time. In the long-term, the Czech Republic GDP Annual Growth Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.

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Czech Republic GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.10 -4.80 7.40 -10.80 1997 - 2021 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-12-01 08:00 AM YoY Final Q3 -5% -10.9% -5.8% -5.8%
2021-02-02 08:00 AM YoY Prel Q4 -5% -5% -7.7% -3.5%
2021-03-02 08:00 AM YoY Final Q4 -4.7% -4.9% -5% -5%
2021-04-30 07:00 AM YoY Prel Q1 -2.1% -4.8% -2.6% -2.9%
2021-06-02 07:00 AM YoY Final Q1 -4.7%
2021-07-30 07:00 AM YoY Prel Q2
2021-09-01 07:00 AM YoY Final Q2
2021-10-29 08:00 AM YoY Prel Q3

Czech Republic GDP Annual Growth Rate
In Czech Republic, 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.