Czechia - Economy
How is the economy of Czechia? Based on the information we have, Czechia has a
high-income, diversified EU economy; manufacturing-oriented exporter led by automotive industry; moderate growth driven by household consumption and investments, despite negative contribution from net exports; tight labor market with low unemployment; gained energy independence from Russian oil in April 2025
. Key agricultural products in this country include: wheat, sugar beets, milk, barley, rapeseed, potatoes, maize, triticale, pork, chicken (2023).More about the economy of Czechia
| Labor force | 5.541 million (2024 est.) |
|---|---|
| Industrial production growth rate | -1% (2024 est.) |
| Industries | motor vehicles, metallurgy, machinery and equipment, glass, armaments |
| Population below poverty line | 10.2% (2021 est.) |
| Taxes and other revenues | 12.6% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | koruny (CZK) per US dollar - |
| Exchange rates 2024 | 23.217 (2024 est.) |
| Exchange rates 2023 | 22.198 (2023 est.) |
| Exchange rates 2022 | 23.357 (2022 est.) |
| Exchange rates 2021 | 21.678 (2021 est.) |
| Exchange rates 2020 | 23.21 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $146.281 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $148.379 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $139.981 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $6.047 billion (2024 est.) |
| Current account balance 2023 | -$432.727 million (2023 est.) |
| Current account balance 2022 | -$13.644 billion (2022 est.) |
| Budget | |
| Revenues | $94.01 billion (2022 est.) |
| Expenditures | $103.959 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 1.2% of GDP (2024 est.) |
| Remittances 2023 | 1.2% of GDP (2023 est.) |
| Remittances 2022 | 1.4% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 3.8% (2022 est.) |
| Highest 10% | 21.8% (2022 est.) |
| Average household expenditures | |
| On food | 15.7% of household expenditures (2023 est.) |
| On alcohol and tobacco | 7.7% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $216.741 billion (2024 est.) |
| Imports 2023 | $219.09 billion (2023 est.) |
| Imports 2022 | $216.042 billion (2022 est.) |
| Imports (partners) | Germany 22%, China 17%, Poland 8%, Slovakia 5%, Italy 4% (2023) |
| Comodities Imports force | broadcasting equipment, vehicle parts/accessories, cars, plastic products, computers (2023) |
| Exports | |
| Imports 2024 | $216.741 billion (2024 est.) |
| Imports 2023 | $219.09 billion (2023 est.) |
| Imports 2022 | $216.042 billion (2022 est.) |
| Exports (partners) | Germany 29%, Slovakia 7%, Poland 6%, France 5%, UK 5% (2023) |
| Comodities Exports force | cars, vehicle parts/accessories, broadcasting equipment, computers, plastic products (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $521.928 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $516.145 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $516.431 billion (2022 est.) |
| GDP (official exchange rate) | $345.037 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $48,000 (2024 est.) |
| Real GDP per capita 2023 | $47,500 (2023 est.) |
| Real GDP per capita 2022 | $48,400 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1.5% (2024 est.) |
| Industry | 30.2% (2024 est.) |
| Services | 59.5% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 44% (2023 est.) |
| Government consumption | 19.7% (2023 est.) |
| Investment in fixed capital | 27.3% (2023 est.) |
| Investment in inventories | 0.7% (2023 est.) |
| Exports of goods and services | 69% (2023 est.) |
| Imports of goods and services | -64% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 2.6% (2024 est.) |
| Unemployment rate 2023 | 2.6% (2023 est.) |
| Unemployment rate 2022 | 2.3% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 8.4% (2024 est.) |
| Male | 8.2% (2024 est.) |
| Female | 8.6% (2024 est.) |
All Important Facts about Czechia
Want to know more about Czechia? Check all different factbooks for Czechia below.
