GDP Preliminary Estimate - 4th quarter of 2020
GDP decreased by 5.6% in 2020
In 2020, the deepest slump in economic performance in the history of the independent Czech Republic was recorded. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted was by 5.6% lower than in 2019, according to the preliminary estimate. The decrease was influenced mainly by household consumption, investment expenditure and also by a slump in external demand in the first half-year. The general government expenditure was growing. The gross value added (GVA) decrease was influenced the most by the development in the group of economic activities of trade, transportation, and accommodation and food service activities. Industry, construction and most of economic activities of services were also unsuccessful.
In the Q4 2020, GDP decreased by 5.0%, year-on-year (y-o-y); compared to the Q3 2020, it increased by 0.3%. The y-o-y decrease was caused mainly by a deepening slump in consumption expenditure of households, whereas external demand was significantly increasing. On the side of GVA formation, mainly the group of economic activities of trade, transportation, and accommodation and food service activities were unsuccessful.
Employment decreased in 2020 by 1.6%. In the Q4 2020, employment decreased by 2.1%, compared to the corresponding quarter of the previous year, and by 0.5%, compared to the Q3 2020.
Responsible head at the CZSO: Vladimír Kermiet, Director of the National Accounts Department, phone number: (+420) 274 054 247, e-mail: firstname.lastname@example.org
Contact person: Jan Benedikt, Head of the Quarterly Estimates Unit, phone number: (+420) 274 052 750, e‑mail: email@example.com
Used data sources updated as at: 27 January 2021
Related CZSO web page: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next News Release will be published on: 2 March 2021
(GDP resources and uses for the Q4 2020)
 All data presented in this News Release are adjusted for price changes and seasonal and calendar effects.
 Employment in terms of national accounts.
- year 2020 | 4th quarter of 2020 | 3rd quarter of 2020 | 2nd quarter of 2020 | 1st quarter of 2020
- year 2019 | 4th quarter of 2019 | 3rd quarter of 2019 | 2nd quarter of 2019 | 1st quarter of 2019
- year 2018 | 4th Quarter of 2018 | 3rd Quarter of 2018 | 2nd Quarter of 2018 | 1st Quarter of 2018
- year 2017 | 4th quarter of 2017 | 3rd quarter of 2017 | 2nd quarter of 2017 | 1st quarter of 2017
- year 2016 | 4. quarter of 2016 | 3. quarter of 2016 | 2. quarter of 2016 | 1. quarter of 2016
- year 2015 | 4th quarter of 2015 | 3rd quarter of 2015 | 2nd quarter of 2015 | 1st quarter of 2015
- year 2014 | 4 quarter 2014 | 3 quarter 2014 | 2 quarter 2014 | 1 quarter 2014
- year 2013 | 4th quarter of 2013 | 3rd quarter of 2013 | 2nd quarter of 2013 | 1st quarter of 2013
- year 2012 | 4th quarter of 2012 | 3rd quarter of 2012 | 2nd quarter of 2012 | 1st quarter of 2012
- year 2011 | 4th quarter of 2011 | 3rd quarter of 2011 | 2nd quarter of 2011 | 1st quarter of 2011
- year 2010 | 4th quarter of 2010 | 3rd quarter of 2010 | 2nd quarter of 2010 | 1st quarter of 2010
The data are valid as of the release date of the publication.
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