The Gross Domestic Product (GDP) in Czech Republic expanded 1.70 percent in the fourth quarter of 2019 over the same quarter of the previous year. It is the lowest growth since the third quarter of 2016, preliminary estimates showed. Considering full 2019, the economy expanded 2.4%. Czech Republic GDP Annual Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

GDP Annual Growth Rate in Czech Republic averaged 2.52 percent from 1997 until 2019, reaching an all time high of 7.30 percent in the second quarter of 2006 and a record low of -5.60 percent in the second quarter of 2009. This page provides the latest reported value for - Czech Republic GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Czech Statistical Office

GDP Annual Growth Rate in Czech Republic is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Czech Republic to stand at 2.70 in 12 months time. In the long-term, the Czech Republic GDP Annual Growth Rate is projected to trend around 1.50 percent in 2021, according to our econometric models.

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Czech Republic GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 2.50 7.30 -5.60 1997 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-08-30 07:00 AM YoY Final Q2 2.7% 2.7% 2.6% 2.7%
2019-11-14 08:00 AM YoY Prel Q3 2.5% 2.7% 2.7% 2.5%
2019-11-29 08:00 AM YoY Final Q3 2.5% 2.7% 2.5% 2.5%
2020-02-14 08:00 AM YoY Prel Q4 1.7% 2.5% 1.9% 2.3%
2020-03-03 08:00 AM YoY Final Q4 2.5% 1.7% 1.7%
2020-05-15 07:00 AM YoY Prel Q1 2%
2020-06-02 07:00 AM YoY Final Q1 2%
2020-07-31 07:00 AM YoY Prel Q2 2.2%

News Stream
Czech Q1 GDP Growth Revised Slightly Higher to 2.6%
The Czech economy advanced 2.6 percent from a year earlier in the first quarter of 2019, above the initial estimate of 2.5 percent and at the same pace as in the previous period. Main driver of growth was household consumption which rose faster (2.7 percent vs 2.2 percent in Q4) while government spending (3.4 percent vs 3.6 percent) and fixed investment (3.4 percent vs 10.4 percent) slowed. Meantime, exports (2 percent vs 5 percent in Q4) increased slightly less than imports (2.1 percent vs 5.7 percent). On a quarterly basis, the GDP expanded 0.6 percent, compared to a preliminary reading of 0.5 percent but below 0.8 percent in the fourth quarter of 2018.
Czech Q1 GDP Growth Rate Above Forecasts
The Czech economy expanded 2.5 percent on year in the first quarter of 2019, easing from a downwardly revised 2.6 percent growth in the previous period and above market forecasts of 2.4 percent, a preliminary estimate showed. On a seasonally adjusted quarterly basis, the GDP advanced 0.5 percent, slowing from a downwardly revised 0.8 percent expansion in the prior quarter. Growth was mainly driven by foreign demand and household consumption.
Czech Q4 GDP Growth Revised Slightly Lower
The Czech annual economic growth was revised slightly lower to 2.8 percent in the fourth quarter of 2018, compared to a preliminary estimate of 2.9 percent and above the 2.5 percent expansion recorded in the previous three-month period. Growth was driven by household consumption (2.2 percent), fixed investment (4 percent) and government spending (4.7 percent), while net external demand contributed negatively to the GDP as imports jumped 5.7 percent and exports rose at a softer 5 percent. On a seasonally adjusted quarterly basis, the economy grew 0.9 percent, the most over the last six quarters but slightly below a flash estimate of 1 percent driven mainly by external demand. Considering 2018 full year, the economy grew 3 percent, mainly boosted by fixed investment and household consumption.

Czech Republic GDP Annual Growth Rate
In Czech Republic, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by gross fixed capital formation (25 percent) and government expenditure (19 percent). Exports of goods and services account for 84 percent of GDP while imports account for 77 percent, adding 7 percent of total GDP.