Czech economy grew 1.7% in Q3 2022

Published: 05.12.2022 Related countries:  Czech Republic Czech Republic

In third quarter of 2022, Czech economy was driven by foreign demand and gross fixed capital formation. Household consumption fell down significantly.

GDP in the Czech Republic grew by 1.7% y/y in Q3 2022, but fell by 0.2% q/q. Year-on-year growth was mainly supported by foreign demand and gross fixed capital formation. Household final consumption expenditure had a significantly negative impact. The Czech Statistical Office (ČSÚ) reported that the balance of foreign trade in goods and services had reached CZK 9.9bn at current prices and was thus CZK 6.8bn lower y/y. Exports grew by 10.5% y/y and by 4.7% compared to the previous quarter. Imports rose by 6.2% y/y and by 2.7% q/q.

Compiled by the team of CzechTrade office in Latvia (Lithuania, Estonia).
Source: ČIA NEWS