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Economy - overview:
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Basically one of the most stable and prosperous of the post-Communist states, the Czech Republic has been recovering from recession since mid-1999. Growth in 2000-02 was led by exports to the EU, especially Germany, and foreign investment, while domestic demand is reviving. Uncomfortably high fiscal and current account deficits could be future problems. Unemployment is gradually declining as job creation continues in the rebounding economy. Inflation is moderate. The EU put the Czech Republic just behind Poland and Hungary in preparations for accession, which will give further impetus and direction to structural reform. Moves to complete banking, telecommunications, and energy privatization will encourage additional foreign investment, while intensified restructuring among large enterprises and banks and improvements in the financial sector should strengthen output growth.
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GDP:
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purchasing power parity - $155.9 billion (2002 est.)
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GDP - real growth rate:
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2.6% (2002 est.)
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GDP - per capita:
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purchasing power parity - $15,300 (2002 est.)
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GDP - composition by sector:
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agriculture: 4%
industry: 41%
services: 56% (2001)
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Population below poverty line:
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NA%
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Household income or consumption by percentage share:
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lowest 10%: 4%
highest 10%: 22% (1996)
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Distribution of family income - Gini index:
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25 (1996)
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Inflation rate (consumer prices):
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2.2% (2002 est.)
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Labor force:
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5.203 million (1999 est.)
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Labor force - by occupation:
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agriculture 5%, industry 35%, services 60% (2001 est.)
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Unemployment rate:
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8.5% (2002 est.)
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Budget:
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revenues: $16.7 billion
expenditures: $18 billion, including capital expenditures of $NA (2001 est.)
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Industries:
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metallurgy, machinery and equipment, motor vehicles, glass, armaments
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Industrial production growth rate:
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3.5% (2002)
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Electricity - production:
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69.589 billion kWh (2000)
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Electricity - production by source:
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fossil fuel: 78%
hydro: 3%
other: 1% (2000)
nuclear: 19%
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Electricity - consumption:
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54.701 billion kWh (2000)
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Electricity - exports:
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18.74 billion kWh (2000)
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Electricity - imports:
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8.725 billion kWh (2000)
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Agriculture - products:
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wheat, potatoes, sugar beets, hops, fruit; pigs, poultry
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Exports:
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$38 billion f.o.b. (2002)
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Exports - commodities:
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machinery and transport equipment 44%, intermediate manufactures 25%, chemicals 7%, raw materials and fuel 7% (2000)
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Exports - partners:
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Germany 35.4%, Slovakia 7.3%, UK 5.5%, Austria 5.3%, Poland 5.2%, (2001)
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Imports:
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$41.7 billion f.o.b. (2002)
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Imports - commodities:
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machinery and transport equipment 40%, intermediate manufactures 21%, raw materials and fuels 13%, chemicals 11% (2000)
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Imports - partners:
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Germany 32.9%, Slovakia 6.4%, Russia 6.0%, Italy 5.8%, Austria 4.6% (2001)
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Debt - external:
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$24.6 billion (2001)
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Economic aid - recipient:
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$NA
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Currency:
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Czech koruna (CZK)
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Currency code:
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CZK
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Exchange rates:
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koruny per US dollar - 36.325 (January 2002), 38.035 (2001), 38.598 (2000), 34.569 (1999), 32.281 (1998), 31.698 (1997)
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Fiscal year:
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calendar year
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