OECD Economic Surveys: Czech Republic 2018

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of the Czech Republic were reviewed at a meeting of the Economic and Development Review Committee on 5 June 2018. The draft was revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 22 June 2018.

The Secretariat’s draft report was prepared for the Committee by Falilou Fall and Daniela Glocker under the supervision of Piritta Sorsa. The draft has benefitted from valuable background research by Ales Belohradsky, seconded from the Ministry of Finance of the Czech Republic.

Statistical research was provided by Béatrice Guérard. Assa Fofana formatted and produced the layout.

The previous Survey of Czech Republic was issued in June 2016.

Basic statistics of Czech Republic, 2017

(Numbers in parentheses refer to the OECD average)

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	10.5		Population density per km² b	137.0	(37.2)
Under 15 (%)	15.4	(17.9)	Life expectancy (years, 2015)	78.7	(80.5)
Over 65 (%)	19.2	(17.0)	Men	75.7	(77.9)
Foreign-born (%, 2011)	7.1		Women	81.6	(83.1)
Latest 5-year average growth (%)	0.1	(0.6)	Latest general election	October	2017
ECONOMY
Gross domestic product (GDP)			Value added shares (%)
In current prices (billion USD)	215.7		Primary sector	2.4	(2.4)
In current prices (billion CZK)	5 062.1		Industry including construction	37.2	(26.9)
Latest 5-year average real growth (%)	2.9	(2.1)	Services	60.3	(70.7)
Per capita (000 USD PPP)	36.9	(43.8)
GENERAL GOVERNMENT Per cent of GDP
Expenditure b	38.8	(40.6)	Gross financial debt	43.9	(110.2)
Revenue	40.4	(39.3)	Net financial debt	12.2	(71.2)
EXTERNAL ACCOUNTS
Exchange rate (CZK per USD)	23.296		Main exports (% of total goods exports)
PPP exchange rate (USA = 1)	12.532		Machinery and transport equipment	57.6
In per cent of GDP			Manufactured goods	27.8
Exports of goods and services	79.4	(55.0)	Chemicals and related products, n.e.s.	6.0
Imports of goods and services	72.2	(50.5)	Main imports (% of total goods imports)
Current account balance	1.1	(0.4)	Machinery and transport equipment	47.0
Net international investment position	-29.1		Manufactured goods	28.7
			Chemicals and related products, n.e.s.	10.9
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate for 15-64 year-olds (%)	73.6	(67.7)	Unemployment rate, LFS (age 15 and over) (%)	2.9	(5.8)
Men	80.9	(75.4)	Youth (age 15-24, %)	8.0	(11.9)
Women	66.2	(60.1)	Long-term unemployed (≥1 year, %, 2016)	1.7	(2.0)
Participation rate for 15-64 year-olds (%)	75.9	(72.1)	Tertiary educ. Attain. 25-64 year-olds (%,2016)	23.0	(35.7)
Average hours worked per year (2016)	1 770	(1 763)	Expenditure on R&D (% of GDP, 2016)	1.7	(2.3)
ENVIRONMENT, 2015
Total primary energy supply per capita (toe)	3.9	(4.1)	CO2 emissions from fuel combustion per capita (tonnes)	9.5	(9.2)
Renewables (%)	8.8	(9.6)	Water abstractions per capita (1 000 m3)	0.2
Exposure to air pollution (more than 10 μg/m3 of PM2.5, % of population)	100.0	(75.2)	Municipal waste per capita (tonnes, 2016)	0.3	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2015)c	0.258	(0.311)	Education outcomes (PISA score, 2015)
Relative poverty rate (%, 2015)c	6.4	(11.3)	Reading	487	(493)
Median disposable household income (000 USD PPP, 2015)c	17.2	(22.9)	Mathematics	492	(490)
Public and private spending (% of GDP)			Science	493	(493)
Health care (2016)	7.2	(9.0)	Share of women in parliament (%, 2016)	20.0	(28.7)
Pensions (2013)	9.2	(9.1)	Net official development assistance (% of GNI)	0.13	(0.38)
Education (Except tertiary, 2014)	2.6	(3.7)

Better life index: www.oecdbetterlifeindex.org

a. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

b. 2016 for the OECD average; c. 2014 for the OECD average.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.