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Indicators of economy in Czechia

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.906 US Dollar per capita. In contrast, the GDP in Czechia reached 22.932 US dollars per inhabitant, or 245.35 bn US Dollar in the whole country. Czechia is therefore currently ranked 46 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Czechia is in the list of the world's richest countries in place 33.

Inflation in Czechia was in 2020 at around 3.16%. For the the EU, the average of the same was year at 0.50%. In the United States, it was most recently 1.23%.

Compared with the USA, prices for daily consumer goods are around 36.8% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Czechia

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Czechia in 2020 decreased moderatly from 252.50 billion US Dollar to 245.35 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 2.8% is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 2.0 to 2.9 percent. The country's gross debt increased by 22.0%. The consumer inflation rate has risen from 2.8% previously to 3.2% now.

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Czechia
Total
Czechia
per capita
EU
Total
EU
per capita
GDP245.35 bn USD22,932.22 USD15,292.10 tn USD29,692.44 USD
Gross national product236.14 bn USD22,071.51 USD15,330.18 tn USD29,766.38 USD


Czechia ranked 26th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea.

Development of the Gross domestic product in billion US Dollar 1990 - 2020


Household debt and deficits 2020


 Czechia
Total
Czechia
per capita
EU
Total
EU
per capita
Gross debt93.55 bn USD8,744.26 USD13,783.28 tn USD26,762.78 USD
Budget deficit13.73 bn USD1,283.35 USD1,053.73 bn USD2,046.02 USD


Im- and Exports 2020

 Czechia
Total
Czechia
per capita
EU
Total
EU
per capita
Imports157.95 bn USD14,763.36 USD7,314.16 bn USD14,201.79 USD
Exports174.92 bn USD16,349.12 USD7,834.94 bn USD15,212.97 USD


Development of imports and exports in billion US dollars 1993 - 2020

Exports
Imports



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