Economy - overview Basically one of the most stable and prosperous of the post-Communist states, the Czech Republic has been recovering from recession since mid-1999. Growth in 2000-01 was led by exports to the EU, especially Germany, and foreign investment, while domestic demand is reviving. Uncomfortably high fiscal and current account deficits could be future problems. Unemployment is gradually declining as job creation continues in the rebounding economy; inflation is up to 4.7% but still moderate. The EU put the Czech Republic just behind Poland and Hungary in preparations for accession, which will give further impetus and direction to structural reform. Moves to complete banking, telecommunications, and energy privatization will add to foreign investment, while intensified restructuring among large enterprises and banks and improvements in the financial sector should strengthen output growth.

GDP purchasing power parity - $147.9 billion (2001 est.)

GDP - real growth rate 3.4% (2001 est.)

GDP - per capita purchasing power parity - $14,400 (2001 est.)

GDP - composition by sector
agriculture: 5%
industry: 41%
services: 54% (2000)

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 (1996)

Inflation rate (consumer prices) 4.7% (2001 est.)

Labor force 5.203 million (1999 est.)

Labor force - by occupation agriculture 5%, industry 40%, services 55% (2000 est.)

Unemployment rate 8.5% (2001 est.)

Budget
revenues: $16.7 billion
expenditures: $18 billion, including capital expenditures of $NA (2001 est.)

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

Industrial production growth rate 7.2% (2001)

Electricity - production 69.589 billion kWh (2000)

Electricity - production by source
fossil fuel: 77.75%
hydro: 2.5%
other: 1.2% (2000)
nuclear: 18.55%

Electricity - consumption 54.701 billion kWh (2000)

Electricity - exports 18.74 billion kWh (2000)

Electricity - imports 8.725 billion kWh (2000)

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

Exports $32.7 billion (f.o.b., 2000)

Exports - commodities machinery and transport equipment 44%, intermediate manufactures 25%, chemicals 7%, raw materials and fuel 7% (2000)

Exports - partners Germany 40.4%, Slovakia 7.7%, Austria 6.0%, Poland 5.4%, UK 4.3% (2000)

Imports $37.4 billion (f.o.b., 2000)

Imports - commodities machinery and transport equipment 40%, intermediate manufactures 21%, raw materials and fuels 13%, chemicals 11% (2000)

Imports - partners Germany 26.7%, Russia 6.4%, Slovakia 6.0%, Italy 5.2%, Austria 4.9% (2000)

Debt - external $24.6 billion (2001)

Economic aid - recipient $NA

Currency Czech koruna (CZK)

Currency code CZK

Exchange rates koruny per US dollar - 36.325 (January 2002), 38.035 (2001), 38.598 (2000), 34.569 (1999), 32.281 (1998), 31.698 (1997)

Fiscal year calendar year

NOTE: The information regarding Czech Republic on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Czech Republic Economy 2002 information contained here. All suggestions for corrections of any errors about Czech Republic Economy 2002 should be addressed to the CIA.