The State of the Czech Economy
Wednesday, June 11, 2008 at 7:55PM 
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
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