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Czech Republic Economy 2009
http://www.geographic.org/wfb2009/czech_republic/czech_republic_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK

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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 government plans to meet the criteria for joining the eurozone around 2012. The small, open, export-driven Czech economy grew by over 6% annually from 2005-2007 and the 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, began to fall in the fourth quarter of 2008, mainly due to a significant drop in demand for Czech exports in Western Europe. This trend is expected to continue, with many analysts predicting Czech economy to contract slightly in 2009.

GDP (purchasing power parity):
$266.3 billion (2008 est.)
$257.3 billion (2007)
$242.7 billion (2006)
note: data are in 2008 US dollars

GDP (official exchange rate):
$217.2 billion (2008 est.)

GDP - real growth rate:
3.9% (2008 est.)
6% (2007 est.)
6.8% (2006 est.)

GDP - per capita (PPP):
$26,100 (2008 est.)
$25,200 (2007 est.)
$23,700 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector:
agriculture: 2.6%
industry: 38.7%
services: 58.7% (2008 est.)

Labor force:
5.37 million (2008 est.)

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

Unemployment rate:
6% (2008)

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

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

Investment (gross fixed):
27.8% of GDP (2008 est.)

Budget:
revenues: $94.96 billion
expenditures: $99.46 billion (2008 est.)

Public debt:
29.4% of GDP (2008 est.)

Inflation rate (consumer prices):
3.6% (2008)

Central bank discount rate:
1.25% (31 December 2008)

Commercial bank prime lending rate:
5.79% (31 December 2007)

Stock of money:
$84.43 billion (31 December 2007)

Stock of quasi money:
$58.77 billion (31 December 2007)

Stock of domestic credit:
$103.9 billion (31 December 2007)

Market value of publicly traded shares:
$73.42 billion (31 December 2007)

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

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

Industrial production growth rate:
7% (2008 est.)

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

Electricity - consumption:
61.52 billion kWh (2006 est.)

Electricity - exports:
26.36 billion kWh (2007 est.)

Electricity - imports:
10.2 billion kWh (2007 est.)

Oil - production:
13,530 bbl/day (2007 est.)

Oil - consumption:
207,400 bbl/day (2007 est.)

Oil - exports:
27,360 bbl/day (2005)

Oil - imports:
224,600 bbl/day (2005)

Oil - proved reserves:
15 million bbl (1 January 2008 est.)

Natural gas - production:
172 million cu m (2007 est.)

Natural gas - consumption:
8.622 billion cu m (2007 est.)

Natural gas - exports:
402 million cu m (2007 est.)

Natural gas - imports:
8.628 billion cu m (2007 est.)

Natural gas - proved reserves:
3.964 billion cu m (1 January 2008 est.)

Current account balance:
-$6.46 billion (2008 est.)

Exports:
$145.8 billion f.o.b. (2008 est.)

Exports - commodities:
machinery and transport equipment 52%, raw materials and fuel 9%, chemicals 5% (2003)

Exports - partners:
Germany 30.7%, Slovakia 8.7%, Poland 5.9%, France 5.4%, UK 5.1%, Italy 4.9%, Austria 4.6% (2007)

Imports:
$141.4 billion f.o.b. (2008 est.)

Imports - commodities:
machinery and transport equipment 46%, raw materials and fuels 15%, chemicals 10% (2003)

Imports - partners:
Germany 31.8%, Netherlands 6.7%, Slovakia 6.4%, Poland 6.3%, Austria 5.1%, China 5.1%, Russia 4.5%, Italy 4.4%, France 4.1% (2007)

Reserves of foreign exchange and gold:
$37 billion (31 December 2008)

Debt - external:
$88.74 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$107.6 billion (2008 est.)

Stock of direct foreign investment - abroad:
$7.721 billion (2008 est.)

Exchange rates:
koruny (CZK) per US dollar - 17.064 (2008), 20.53 (2007), 22.596 (2006), 23.957 (2005), 25.7 (2004)


NOTE: The information regarding Czech Republic on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Czech Republic Economy 2009 information contained here. All suggestions for corrections of any errors about Czech Republic Economy 2009 should be addressed to the CIA.



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