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Czech Republic Economy 2010
https://workmall.com/wfb2010/czech_republic/czech_republic_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Czech Republic Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES
Page last updated on January 15, 2010

Economy - overview:
The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Maintaining an open investment climate has been a key element of the Czech Republic's transition from a communist, centrally planned economy to a functioning market economy. As a member of the European Union, with an advantageous location in the center of Europe, a relatively low cost structure, and a well-qualified labor force, the Czech Republic is an attractive destination for foreign investment. Prior to its EU accession in 2004, the Czech government harmonized its laws and regulations with those of the European Union. The small, open, export-driven Czech economy grew by over 6% annually from 2005-2007 and strong growth continued throughout the first three quarters of 2008. Despite the global financial crisis, the conservative Czech financial system has remained relatively healthy. The rate of Czech economic growth, however, fell sharply in the fourth quarter of 2008, mainly due to a significant drop in demand for Czech exports in Western Europe. The Czech economy contracted more than 4% in 2009.

GDP (purchasing power parity):
$256.7 billion (2009 est.)

$267.9 billion (2008 est.)
$261.1 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$189.7 billion (2009 est.)

GDP - real growth rate:
-4.2% (2009 est.)

2.6% (2008 est.)
6.1% (2007 est.)

GDP - per capita (PPP):
$25,100 (2009 est.)

$26,200 (2008 est.)
$25,500 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 2.8%
industry: 35%
services: 62.3% (2009 est.)

Labor force:
5.38 million (2009 est.)

Labor force - by occupation:
agriculture: 3.6%
industry: 40.2%
services: 56.2% (2007)

Unemployment rate:
9.3% (2009 est.)

5.433% (2008 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: 4.3%
highest 10%: 22.4% (1996)

Distribution of family income - Gini index:
26 (2005)

25.4 (1996)

Investment (gross fixed):
23.2% of GDP (2009 est.)

Budget:
revenues: $76.71 billion
expenditures: $85.65 billion (2009 est.)

Public debt:
32.8% of GDP (2009 est.)

26.8% of GDP (2008 est.)

Inflation rate (consumer prices):
1.1% (2009 est.)

6.3% (2008 est.)

Central bank discount rate:
2.25% (31 December 2008)

3.5% (31 December 2007)

Commercial bank prime lending rate:
6.25% (31 December 2008)

5.79% (31 December 2007)

Stock of money:
$86.55 billion (31 December 2008)

$84.43 billion (31 December 2007)

Stock of quasi money:
$58.6 billion (31 December 2008)

$58.77 billion (31 December 2007)

Stock of domestic credit:
$110.5 billion (31 December 2008)

$103.9 billion (31 December 2007)

Market value of publicly traded shares:
$48.85 billion (31 December 2008)

$73.42 billion (31 December 2007)
$48.6 billion (31 December 2006)

Agriculture - products:
wheat, potatoes, sugar beets, hops, fruit; pigs, poultry

Industries:
motor vehicles, metallurgy, machinery and equipment, glass, armaments

Industrial production growth rate:
-10% (2009 est.)

Electricity - production:
82.72 billion kWh (2007 est.)

Electricity - consumption:
61.65 billion kWh (2007 est.)

Electricity - exports:
19.99 billion kWh (2008 est.)

Electricity - imports:
8.52 billion kWh (2008 est.)

Oil - production:
16,080 bbl/day (2008 est.)

Oil - consumption:
212,800 bbl/day (2008 est.)

Oil - exports:
22,560 bbl/day (2008 est.)

Oil - imports:
213,900 bbl/day (2008 est.)

Oil - proved reserves:
15 million bbl (1 January 2009 est.)

Natural gas - production:
192 million cu m (2008 est.)

Natural gas - consumption:
8.719 billion cu m (2008 est.)

Natural gas - exports:
968 million cu m (2008 est.)

Natural gas - imports:
9.573 billion cu m (2008 est.)

Natural gas - proved reserves:
3.964 billion cu m (1 January 2009 est.)

Current account balance:
$-3.886 billion (2009 est.)

$-6.642 billion (2008 est.)

Exports:
$106.4 billion (2009 est.)

$145.7 billion (2008 est.)

Exports - commodities:
machinery and transport equipment 52%, raw materials and fuel 9%, chemicals 5%

Exports - partners:
Germany 30.6%, Slovakia 9.2%, Poland 6.5%, France 5.3%, UK 4.8%, Austria 4.7%, Italy 4.6% (2008)

Imports:
$99.97 billion (2009 est.)

$139.4 billion (2008 est.)

Imports - commodities:
machinery and transport equipment 46%, raw materials and fuels 15%, chemicals 10%

Imports - partners:
Germany 30.3%, Slovakia 6.6%, Poland 6.4%, Russia 6.2%, Netherlands 5.6%, Austria 5.2%, China 4.9%, Italy 4.1% (2008)

Reserves of foreign exchange and gold:
$38.68 billion (31 December 2009 est.)

$36.68 billion (31 December 2008 est.)

Debt - external:
$76.83 billion (31 December 2009 est.)

$80.43 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$118.9 billion (31 December 2009 est.)

$111.9 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$11.11 billion (31 December 2009 est.)

$9.913 billion (31 December 2008 est.)

Exchange rates:
koruny (CZK) per US dollar - 19.373 (2009), 17.064 (2008), 20.53 (2007), 22.596 (2006), 23.957 (2005)


NOTE: The information regarding Czech Republic on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Czech Republic Economy 2010 information contained here. All suggestions for corrections of any errors about Czech Republic Economy 2010 should be addressed to the CIA.




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