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Economy - The Czech Republic

Identifikátory výsledku

  • Kód výsledku v IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F23%3A00582662" target="_blank" >RIV/00216208:11640/23:00582662 - isvavai.cz</a>

  • Výsledek na webu

  • DOI - Digital Object Identifier

Alternativní jazyky

  • 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 by 4.4% in 2017, 2.8% in 2018 and 2.6% in 2019. This changed, however, with the global impact of COVID-19 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. 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 by 4.4% in 2017, 2.8% in 2018 and 2.6% in 2019. This changed, however, with the global impact of COVID-19 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. 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).

Klasifikace

  • Druh

    C - Kapitola v odborné knize

  • CEP obor

  • OECD FORD obor

    50202 - Applied Economics, Econometrics

Návaznosti výsledku

  • Projekt

  • Návaznosti

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Ostatní

  • Rok uplatnění

    2023

  • Kód důvěrnosti údajů

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

Údaje specifické pro druh výsledku

  • Název knihy nebo sborníku

    Central and South-Eastern Europe 2024

  • ISBN

    978-1-032-48336-8

  • Počet stran výsledku

    6

  • Strana od-do

    186-191

  • Počet stran knihy

    840

  • Název nakladatele

    Routledge

  • Místo vydání

    London

  • Kód UT WoS kapitoly