Short overview: 1)
Czech Republic - as a most continual and thriving of the former communist states - has recovered since middle of 1999 well from the recession. The growth in 2000 - 2005 was supported on the one hand by exports in the EU - primarily to Germany - on the other hand by a strong recovery of foreign and domestic investment.
Domestic demand is playing more than ever an important role in underpinning growth as interest rates sink and the availability of credit cards and mortgages rises. High account deficits - on an average 5% of the GDP during the last years - are beginning to decline, while demand for Czech products in the European Union increases. Inflation is held under control. Recent accession to the EU gives further impetus and direction to structural reform. The step for the complete privatisation of bank sector, telecommunication and energy sectors is to encourage additional foreign investments, while intensified restructuring among large enterprises and banks, as well as improvements in the finance sector should strengthen output growth.
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GROSS DOMESTIC PRODUCT (GDP)
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GDP (purchasing power parity): 1)
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$199.4 billion (2005 est.)
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GDP - real growth rate: 1)
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6% (2005 est.)
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GDP per capita: 1)
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19.500 $
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- GDP - composition by sector (2004 est.): 1)
- agriculture: 3.4%
- industry: 39.3%
- services: 57.3%
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| Inflation rate (consumer prices): 1) |
2% (2005 est.) |
| Unemployment rate: 1) |
9.1% (2005 est.) |
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| Import volume: 1) |
$76.59 billion f.o.b. (2005 est.) |
| Import commodities (2003 est.): 1) |
- machinery and transport equipment 46%
- raw materials and fuels 15%
- chemicals 10%
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Origin of imports (2004 est.): 1)
| Exports from Czech Republic |
| Export volume : 1) |
$78.37 billion f.o.b. (2005 est.) |
| Export commodities (2003 est.): 1) |
- machinery and transport equipment 52%
- chemicals 5%,
- raw materials and fuels 9%
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Destinations of exports (2004 est.): 1)
Sources of information:
1) CIA Worldfactbook - updated on 11 July, 2006
(c) Copyright 2005, Verband der Vereine Creditreform e.V. / Creditreform International e.V.
kindly supported by Creditreform s.r.o., Praha
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