. In 1991-92 these measures resulted in
privatization of some medium- and small-scale economic activity and
the setting of more than 90% of prices by the market - but at a cost
in inflation, unemployment, and lower output. For Czechoslovakia as a
whole inflation in 1991 was roughly 50% and output fell 15%. In 1992,
in the Czech lands, inflation dropped to an estimated 12.5% and GDP
was down a more moderate 5%. In 1993, Czech aggregate output remained
unchanged, prices rose about 19%, and unemployment hovered above 3%;
exports to Slovakia fell roughly 30%. An estimated 40% of the economy
was privately owned. In 1994, Prague expects 2% to 3% growth in GDP,
roughly 9% inflation, and 5% unemployment. Economic growth in 1994 is
less important than continued economic restructuring; a mere 1% growth
would be noteworthy if restructuring is accompanied by rising
unemployment and enterprise bankruptcies.
National product:
GDP - purchasing power equivalent - $75 billion (1993 est.)
National product real growth rate:
0% (1993 est.)
National product per capita:
$7,200 (1993 est.)
Inflation rate (consumer prices):
19% (1993 est.)
Unemployment rate:
3.3% (1993 est.)
Budget:
revenues:
$11.9 billion
expenditures:
$11.9 billion, including capital expenditures of $NA (1993 est.)
Exports:
$12.6 billion (f.o.b., 1993 est.)
commodities:
manufactured goods, machinery and transport equipment, chemicals,
fuels, minerals, and metals
partners:
Germany, Slovakia, Poland, Austria, Hungary, Italy, France, US, UK,
CIS republics
Imports:
$12.4 billion (f.o.b., 1993 est.)
commodities:
machinery and transport equipment, fuels and lubricants, manfactured
goods, raw materials, chemicals, agricultural products
partners:
Slovakia, CIS republics, Germany, Austria, Poland, Switzerland,
Hungary, UK, Italy
External debt:
$8.6 billion (October 1993)
Industrial production:
growth rate -5.5% (December 1993 over December 1992)
Electricity:
capacity:
16,500,000 kW
production:
62.2 billion kWh
consumption per capita:
6,030 kWh (1992)
Industries:
fuels, ferrous metallurgy, machinery and equipment, coal, motor
vehicles, glass, armaments
Agriculture:
largely self-sufficient in food production; diversified crop and
livestock production, including grains, potatoes, sugar beets, hops,
fruit, hogs, cattle, and poultry; exporter of forest products
Illicit drugs:
trans