Skyline of Prague, Czech Republic

Czech Republic Exports

Czech Republic Exports

Exports in Czech Republic

Czech republic's economy recorded an average growth rate of 1.1% in exports over the decade leading to 2024, above the Central & Eastern Europe's average of 0.3%. In 2024, Czech Republic's exports growth was 1.1%. For more exports information, visit our dedicated page.

Czech Republic Exports Chart

Note: This chart displays Exports (G&S, ann. var. %) for Czech Republic from 2024 to 2018.
Source: Macrobond.

Czech Republic Exports Data

2020 2021 2022 2023 2024
Exports (G&S, ann. var. %) -8.6 8.0 5.2 2.8 1.1

GDP growth decelerates but remains solid in Q2

GDP growth revised upward: GDP growth declined to 0.5% on a seasonally and calendar-adjusted quarter-on-quarter basis in the second quarter (Q1: +0.7% qoq s.a.). However, there is still space for optimism as the reading was above the average of the last two years on the same basis and marked the seventh consecutive expansion. Moreover, the figure was revised up from an initial estimate of just 0.3% growth. On a seasonally and calendar-adjusted annual basis, GDP growth accelerated to 2.6% in Q2 from 2.4% in the previous quarter, the best result since Q2 2022.

Net trade drags on GDP growth, but domestic demand keeps momentum solid: The sequential slowdown was primarily driven by weakness in the external sector. Export growth fell sharply, from 3.0% in Q1 to just 0.3% in Q2, likely weighed down by the prolonged slump in the German industrial sector and rising global trade tensions. Imports also lost momentum, growing 1.5% in Q2 from 2.5% in Q1. However, the sharper export slowdown meant net trade weighed on headline growth. Meanwhile, the domestic sector was the main engine of economic growth. Private consumption accelerated to 1.0% in Q2 (Q1: +0.4% qoq s.a.) as households benefited from softer price pressures and a stronger koruna compared to the prior quarter. Moreover, government consumption rebounded 1.2% in Q2 (Q1: -0.3% qoq s.a.), while fixed investment rose at a slightly faster pace of 0.5% (Q1: +0.4% qoq s.a.).

Economy to gain steam in 2025: Our panel expects sequential GDP growth to hover near Q2’s pace in the coming quarters. Still, in 2025 as a whole, economic momentum should pick up and roughly double from 2024’s rate. Lower interest rates should fuel a rebound in fixed investment, while stronger EU demand will likely buttress exports. Moreover, consumer spending should accelerate on the back of a still-tight labor market. A weaker-than-expected German economy—the top trading partner—is a downside risk.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Czech exports projections for the next ten years from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exports forecast available for Czech exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Czech exports projections.

Want to get access to the full dataset of Czech exports forecasts? Send an email to info@focus-economics.com.

Latest Global GDP News

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Email Team Member Linkedin Team Member Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Fullscreen Line Chart Globe Download Share