Economy - The Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F22%3A00582653" target="_blank" >RIV/00216208:11640/22:00582653 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Economy - The Czech Republic

Popis výsledku v původním jazyce

Since the Czech Republic’s entry to the European Union (EU) in 2004, the country’s economy has experienced an increasing trend in convergence towards its Western counterparts. After the global financial and economic crisis during 2008–13, the Czech economy started to recover quickly, and in 2021 gross domestic product (GDP) per head, measured in purchasing-power parity terms (PPP), reached 93% of the EU average. In fact, the Czech Republic surpassed Southern European countries such as Spain and Italy in GDP per capita in terms of PPP. Since 2015 the Czech Republic has demonstrated one of the best economic performances among the EU countries, characterized by strong economic growth, low unemployment rates, the expansion of exports and a decline in government debt. The country’s GDP grew strongly, by 4.4% in 2017, 2.8% in 2018 and 2.6% in 2019. This changed, however, with the global impact of the coronavirus (COVID-19) pandemic in early 2020. Due to the COVID-19 pandemic and a number of ensuing lockdowns, GDP declined sharply, by 5.8% in 2020. Economic activity decreased, mainly as a result of the restrictions on mobility and private consumption. According to the Czech Statistical Office, accommodation and hospitality, transport, tourism, retail and manufacturing were among the economic sectors most severely affected by the pandemic. These circumstances led to a rise in the household savings rate to an unprecedented level of 22%. The economy’s high dependence on external demand, which fell sharply, also contributed to the decline in economic activity. The situation was particularly damaging for the automotive industry, which was already under pressure as a result of regulatory changes (carbon dioxide emission targets for new cars).

Název v anglickém jazyce

Economy - The Czech Republic

Popis výsledku anglicky

Since the Czech Republic’s entry to the European Union (EU) in 2004, the country’s economy has experienced an increasing trend in convergence towards its Western counterparts. After the global financial and economic crisis during 2008–13, the Czech economy started to recover quickly, and in 2021 gross domestic product (GDP) per head, measured in purchasing-power parity terms (PPP), reached 93% of the EU average. In fact, the Czech Republic surpassed Southern European countries such as Spain and Italy in GDP per capita in terms of PPP. Since 2015 the Czech Republic has demonstrated one of the best economic performances among the EU countries, characterized by strong economic growth, low unemployment rates, the expansion of exports and a decline in government debt. The country’s GDP grew strongly, by 4.4% in 2017, 2.8% in 2018 and 2.6% in 2019. This changed, however, with the global impact of the coronavirus (COVID-19) pandemic in early 2020. Due to the COVID-19 pandemic and a number of ensuing lockdowns, GDP declined sharply, by 5.8% in 2020. Economic activity decreased, mainly as a result of the restrictions on mobility and private consumption. According to the Czech Statistical Office, accommodation and hospitality, transport, tourism, retail and manufacturing were among the economic sectors most severely affected by the pandemic. These circumstances led to a rise in the household savings rate to an unprecedented level of 22%. The economy’s high dependence on external demand, which fell sharply, also contributed to the decline in economic activity. The situation was particularly damaging for the automotive industry, which was already under pressure as a result of regulatory changes (carbon dioxide emission targets for new cars).

Druh

C - Kapitola v odborné knize

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název knihy nebo sborníku

Central and South-Eastern Europe 2023

ISBN

978-1-032-27316-7

Počet stran výsledku

6

Strana od-do

182-187

Počet stran knihy

840

Název nakladatele

Routledge

Místo vydání

London

Kód UT WoS kapitoly

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