Czech Republic GDP Growth Rate

Last Release

Dec 31, 2024

Actual

0.5

Units In

0.4

Frequency

Quarterly

Next Release

Jun 27, 2025

Time to Release

2 Months 24 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
7.1 Sep 2020	-8.7 Jun 2020	0.51 %	1995-2024	Czech Statistical Office

In Czech Republic, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by gross fixed capital formation (25 percent) and government expenditure (19 percent). Exports of goods and services account for 84 percent of GDP while imports account for 77 percent, adding 7 percent of total GDP.

Latest Updates

The Czech Republic's GDP advanced by 0.7% quarter-on-quarter in the fourth quarter of 2024, in line with the second estimates, following a 0.6% expansion in the previous three-month period. This marked the fastest growth in the Czech economy since Q1 of 2022, mainly supported by growth in household spending (1.5% vs 0.9% in Q4). Additionally, government expenditure grew by 0.7%, the same pace as in the prior quarter. By contrast, the gross capital formation shrank (-1.1% vs 3.5%). On net external demand, exports dropped 1.6% (vs 2%) while imports fell 1.8% (vs 3.6%). On a yearly basis, the economy grew by 1.8% in the fourth quarter of 2024, matching the second estimate, the fastest pace since Q3 of 2022, and compared to a 1.4% expansion in the previous three-month period.