Czech Republic PESTLE Insights – A Macroeconomic Outlook Report

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Czech Republic PESTLE Insights Report Overview

The Czech Republic was ranked 28th of 153 nations in the GCRI Q3 2023. The country’s GDP was $334 billion in 2023. On January 4, 2023, the Czech government endorsed legislation, setting defense expenditure at a minimum of 2% of the GDP in alignment with the NATO alliance commitment.  To counter the shortage of skilled workers in the labor market, the Czech government, in October 2023, sanctioned a proposal by the Ministry of Industry and Trade. This initiative involves raising quotas for foreign workers from third countries by 20,000 in 2024. The initiative aims to boost the Czech Republic’s GDP, fortify the labor market, and enhance state budget revenue. Targeted areas for this effort encompass roles such as IT specialists, developers, software engineers, doctors, nurses, machine operators, assembly workers, bricklayers, and various others.

Key Sector’s Contribution to the Czech Republic Economy (2019-2026)

Key Sector’s Contribution to the Czech Republic Economy (2019-2026)

Buy the full Report to Know More about the Czech Republic’s Macroeconomic Outlook, Download a Free Report Sample

GDP in 2023 $334 Billion
Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Czech Republic Macroeconomic Outlook - PESTLE Insights

Political Landscape

The Czech Republic has performed well in its transition to democracy and multiparty politics. According to the World Bank, Worldwide Governance Indicators (2023), the country was ranked in the 80.7 percentile in terms of the voice and accountability parameter in 2022. This parameter reflects perceptions of the extent to which a country’s citizens can participate in selecting their government.

Economic Landscape

In 2022, Czech car production grew significantly. In 2023, the Czech Republic experienced a prominent growth in imports. Conversely, the volume of exports, according to the IMF, exhibited more than 5% growth in 2023. Furthermore, the country’s annual inflation rate decelerated in December 2023, marking a three-month low.

Social Landscape

The Czech Republic, in collaboration with various ministries, has released its 2022 report on migration and integration of foreigners. A predominant trend was the notable arrival of individuals displaced from Ukraine, granted temporary protection by year-end. In relative terms, the Czech Republic became the EU’s primary recipient of Ukrainian refugees.

Technological Landscape

The Czech Republic ranked seventh on the high-tech imports, of total trade. According to the European Innovation Scoreboard (2023), the Czech Republic’s relative strength included public-private co-publications, product innovators, business process innovators, and non-R&D innovation expenditures. The country introduced the Education Policy Strategy for 2020-30. The policy aims to develop a roadmap toward a digital education system in the Czech Republic. In addition, the ministry of the country seeks to modernize, equip, and guide schools, introduce digital technologies, promote innovation, amplify the volume of learning, and implement new methods to acquire knowledge and skills.

Legal Landscape

In September 2023, the government approved a legislative amendment regarding the Right to Digital Services in the Czech Republic. It allows citizens to securely save and utilize a digital representation of their national identity card within a smartphone’s digital wallet.

Environmental Landscape

As of November 2023, Czech companies united in the Alliance for an Emission-Free Future, are driving sustainability by transitioning to low-carbon operations. CEZ, a major power supplier, leads the charge with plans to convert heating plants to natural gas by 2029. This collective effort signifies a notable shift in Czech businesses toward carbon neutrality, emphasizing their commitment to a zero-carbon approach for a competitive and environmentally resilient future.

Buy the full Report to Know More PESTEL insights into the Czech Republic Macroeconomic Outlook, Download a Free Report Sample

Scope

In October 2023, a loan agreement worth CZK24 billion ($1 billion) was signed between the European Investment Bank (EIB) and Czech Republic, to develop the country’s rail network.

Key Highlights

The PX index has been on a volatile trend. As of January 3, 2024, the index stood at 1,414.0, compared to 1,218.9 on January 03, 2023.

Reasons to Buy

  • Macroeconomic Outlook Report identifies the potential of the country as an investment destination by analyzing the political, economic, social, technological, legal, and environmental (PESTLE) structure.
  • PESTLE Insights provides a 360-degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials, and direction of operations
  • Along with providing the country’s snapshot, the report captures the risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
  • This report also highlights key clusters/cities which contribute significantly to the country’s GDP and population along with major companies’ presence in these areas.

Jawa
Avia
CEZ Group

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

Table

Exhibit 1: Czech Republic’s performance in terms of the country’s risk analysis in comparison to Eastern Europe and the world

Exhibit 2: Performance overview (score: 0-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: PX index, (January 2023 – January 2024)

Exhibit 5: Key sectors contribution to the economy (2019–26f)

Exhibit 6: FDI flows and FDI by sector (2018–22)

Exhibit 7: FDI by countries and region (2018–22)

Exhibit 8: Key infrastructure indicators (2020)

Exhibit 9: Real GDP and household consumption growth rate (2019–26f)

Exhibit 10: Real GDP growth rate comparison (2023e)

Exhibit 11: Volume of exports and imports growth (2019–26f)

Exhibit 12: Current account balance (2019–26f)

Exhibit 13: Top three commodity exports, % of total exports (2018–22)

Exhibit 14: Exports of electrical machinery and equipment and parts thereof, % of world’s total (2022)

Exhibit 15: Interest rates (December 2018 – December 2023)

Exhibit 16: Exchange rate and inflation (2019–26f)

Exhibit 17: Public finance (2019–26f)

Exhibit 18: General government debt (2019–26f)

Exhibit 19: Unemployment rate (2019–26f)

Exhibit 20: Average annual wages (2019–26f)

Exhibit 21: Labor cost index (2019–26f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2023e)

Exhibit 26: Number of patents granted per million population (2022, or latest available year)

Exhibit 27: High technology exports, % of manufactured exports (2022, or latest available year)

Exhibit 28: Rule of law index (rankings) 2023

Exhibit 29: Corruption perceptions index (rankings) (2022)

Exhibit 30: Renewable energy, installed capacity (2019–23e)

Exhibit 31: CO2 emissions (2018–22)

Figures

List of Figures

Exhibit 1: Czech Republic’s performance in terms of its country risk analysis in comparison to East Europe and the World average

Exhibit 2: Performance overview (score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Czech Republic stock exchange index – PX Index (December 2021 – December 2022)

Exhibit 5: Czech Republic exchange rate (December 2021 – December 2022)

Exhibit 6: Key sectors’ contribution to the economy (2017-24f)

Exhibit 7: FDI flows and FDI by sector (2017-21)

Exhibit 8: FDI by countries and region (2017-21)

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2017-24f)

Exhibit 11: Real GDP growth rate comparison (2021)

Exhibit 12: Exports, imports and trade balance (2017-2024f)

Exhibit 13: Current account balance (2017-24f)

Exhibit 14: Top three commodity exports, % of total exports (2018-21)

Exhibit 15: Nuclear reactors, boilers, machinery and mechanical appliances, % of world’s total (2021)

Exhibit 16: Interest rates (November 2017 – November 2022)

Exhibit 17: Exchange rate and inflation (2017-24f)

Exhibit 18: Public finance (2017-24f)

Exhibit 19: General government debt (2017-24f)

Exhibit 20: Unemployment (2017-24f)

Exhibit 21: Average annual wages (2017-24f)

Exhibit 22: Labor cost index (2017-24f)

Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2021)

Exhibit 27: Number of patents granted per million people (2021)

Exhibit 28: High-technology exports, % of manufactured exports (2020)

Exhibit 29: Doing business in the Czech Republic 2020

Exhibit 30: Corruption perception index (rankings) (2021)

Exhibit 31: Renewable energy, installed capacity (2016-20)

Exhibit 32: CO2 emissions (2017-21)

Frequently asked questions

Czech Republic PESTLE Insights – A Macroeconomic Outlook Report standard reports
Currency USD
$500

Can be used by individual purchaser only

$1,000

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Czech Republic PESTLE Insights – A Macroeconomic Outlook Report was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
New
Wealth Management Trends and Themes in 2024
$5,250 | May 2024
Financial Services
New
Peru Insurance Industry - Key Trends and Opportunities to 2028
$1,450 | May 2024
Financial Services
New
Broker Distribution Insight 2024 - Which Insurers Lead the Way?
$1,995 | June 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Czech Republic PESTLE Insights – A Macroeconomic Outlook Report in real time.

  • Access a live Czech Republic PESTLE Insights – A Macroeconomic Outlook Report dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.