« Ukraine's Economy | Main | Poland Economic Overview »
Wednesday
Jun112008

The State of the Czech Economy

The Czech republic offers a stable, prosperous economy fueled by its exports to EU. The following is a an economic snapshot on this Eastern European country.

  • Real GDP: $175.3 billion
  • Real GDP growth forecast: 4.7% in 2008, 5.4% in 2009
    • Slowed by US credit crunch, will begin to expand again

The Czech Future:

  • Domestic demand will drive economic expansion in 2008
  • Led by new availability of credit cards, mortgages
  • In 2009, GDP boost will come mostly from trade (exports)

Unemployment: 6.6% (2007)
Inflation: 2.0% (2007 CPI est.)
Current Account Balance: -$3.8 billion
Currency: The Czech government and the central bank have reached an agreement on measures designed to stem the appreciation of the currency

Median Age

  • male: 38.2 years
  • female: 41.6 years

Sex Ratio

  • under 15 years: 1.06 male(s)/female
  • 15-64 years: 1.01 male(s)/female
  • 65 years and over: 0.65 male(s)/female


Per Capita Income: $24,400

One of Eastern Europe’s highest life expectancies

  • Life expectancy at birth: 79 years
  • Behind only Germany and Slovenia

Recent News

  • The Czech cabinet endorsed the first draft of a healthcare reform bill in April 2008.

Economic Trends

  • The Restructuring of Czech firms allows for more US FDI
  • Rapid growth in use of cell phones
  • Privatization of telecommunications was slow starting
  • Financial Sector not exposed to int’l credit crunch
  • Czech Komercni Bank not affected by parent SocGen scandal
  • EU funds bolstering the Czech economy

Economic structure

  • 58% occupations in services sector
  • Sale of CZK150bn in state-owned firms

Tourism

  • 5% growth in 2005 has slowed to 1%

Automotive

  • 2008 opening of Hyundai plant
  • Industry to double from 2005 to 2011



---
Copyright (C) 2008. SIS International Research, Inc.
Disclaimer: Under no circumstances will SIS, it affiliates, successors or assigns be liable for any loss or damage caused by anyone's reliance on information contained in this web site. Refer to this website's disclaimer page for full description of limitations.

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>