Suchergebnisse

Economic growth of the Czech Republic measured by GDP reached 3,4% per annum in the decade 2001-2010 and was substantially faster than average annual growth of the European Union. Strong acceleration in the years 2005-2007 was followed by stagnation in the years 2008-2012 caused by strong decline of GDP in the year 2009 and milder recession in the year 2012. The modest recovery in the years 2010 and 2011 was pulled namely by foreign trade, while final consumption and gross fixed capital formation stagnated. Alternative indicator of national income was negatively influenced by growing outflow of primary incomes. Real gross domestic income indicates different results in comparison with gross domestic product because of changes in the terms of trade. Macroeconomic stability improved substantially in the field of foreign trade while general government deficit contributed to its deterioration. Adapted from the source document.

Economic growth of the Czech Republic differed strongly in two periods: 1996-1999 & 2000-2004. While in the first period the economy was hit by the recession & the average annual rate of growth of GDP reached only 0,9%, in the second period the growth accelerated to 3,2%. The economic growth measured by the indicators of real income (namely of real gross domestic income) was faster. This was caused by positive contribution of the terms of trade. On the supply side the main contributing factors were labor & total factor productivity. On the demand side the growth was pulled by domestic demand which grew even faster than GDP. The contribution of foreign trade becomes positive in the year 2004 & mainly in 2005. Macroeconomic stability of the Czech economy improved substantially in the fields of inflation, monetary development & foreign trade. Imbalances persist in general government budget & on the current account of the balance of payment. The process of real convergence accelerated in the years 2000-2004 & was based on the growth of labor & total factor productivity. In 2004 the GDP per capita in purchasing power standards surpassed 70% of the average level in EU-25. The comparative price level of the Czech Republic in this year reached only 53% despite accelerated process of catching-up. Tables, Graphs, References. Adapted from the source document.

Economic growth of the Czech Republic differed strongly in two periods: 2001-2003 and 2004-2006. While in the first period the average annual rate of growth of GDP reached only 2,7 %, in the second period the growth accelerated to 5,7%. The economic growth measured by the indicators of real income (namely of real gross domestic income) was faster. This was caused by positive contribution of the terms of trade. On the supply side the main contributing factors were labour and total factor productivity. On the demand side the growth was pulled by domestic demand which grew in the period 2001-2003 even faster than GDP. The contribution of foreign trade becomes positive in the years 2004-2006 with very strong contribution in the year 2005. Macroeconomic stability of the Czech economy improved substantially in the field of foreign trade. The trade balance becomes positive from the year 2004 and growing imbalance persists in the balance of income. The negative gap between savings and investments is caused mainly by households and general government. The process of real convergence accelerated in the years 2000-2006 and was based on the growth of labour and total factor productivity. In 2006 the GDP per capita in purchasing power standards reached almost 80% of the average level in EU-27. The comparative price level of the Czech Republic in this year reached only 61% despite accelerated process of catching-up. Adapted from the source document.