The Czech republic offers a stable, prosperous economy fueled by its exports to EU.  The following is a an economic snapshot on this Eastern European country.

• Real GDP: $175.3 billion
• Real GDP growth forecast: 4.7% in 2008, 5.4% in 2009
• Slowed by US credit crunch, will begin to expand again

The Czech Future:

• Domestic demand will drive economic expansion in 2008
• Led by new availability of credit cards, mortgages
• In 2009, GDP boost will come mostly from trade (exports)

Unemployment: 6.6% (2007)
Inflation: 2.0% (2007 CPI est.)
Current Account Balance: -$3.8 billion
Currency: The Czech government and the central bank have reached an agreement on measures designed to stem the appreciation of the currency

Median Age

• male: 38.2 years
• female: 41.6 years

Sex Ratio

• under 15 years: 1.06 male(s)/female
• 15-64 years: 1.01 male(s)/female
• 65 years and over: 0.65 male(s)/female

Per Capita Income: $24,400

One of Eastern Europe’s highest life expectancies

• Life expectancy at birth: 79 years
• Behind only Germany and Slovenia

Recent News

• The Czech cabinet endorsed the first draft of a healthcare reform bill in April 2008.

Economic Trends

• The Restructuring of Czech firms allows for more US FDI
• Rapid growth in use of cell phones
• Privatization of telecommunications was slow starting
• Financial Sector not exposed to int’l credit crunch
• Czech Komercni Bank not affected by parent SocGen scandal
• EU funds bolstering the Czech economy
  

Economic structure

• 58% occupations in services sector
• Sale of CZK150bn in state-owned firms

Tourism

• 5% growth in 2005 has slowed to 1%

Automotive

• 2008 opening of Hyundai plant
• Industry to double from 2005 to 2011

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