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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The transportation and storage sector is one of the most important service sectors in the Czech economy. Its gross value added (GVA) amounted to CZK 258bn in 2017 and its share of the total GVA was 5.7%. The sector’s share of the services GVA ...
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The Czech automotive sector’s GVA represents slightly over 5% of the country’s GDP. According to the Czech Automotive Industry Association (SAP), car manufacturers make up a quarter of the country's industrial output and 22% of its ...
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The gross output of the mining and quarrying sector, including oil and natural gas extraction, accounted for 0.6% of the total gross output of the Czech economy in 2016, decreasing from 0.9% in 2012. The gross value added (GVA) of the ...
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The Czech Republic’s information and communication (ICT) sector generated a gross value added (GVA) of CZK 220.6bn in 2016, up by a real 1.9% y/y. The sector accounted for 4.6% of GDP in 2016, retaining its share in the period ...
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Construction is a key sector in the Czech Republic’s economy. In 2016, it generated a gross value added (GVA) of CZK 234bn – 5.5% of the economy’s total GVA. Real estate activities generated a GVA of CZK 361bn in 2016 or about 8.4% ...
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The pharmaceutical sector in the Czech Republic generated a gross value added (GVA) of CZK 18.9bn in 2016, up by 8.2% y/y in real terms. It accounted for 0.44% of the total GVA in the economy in 2016. The sector employed 9,438 workers. Total ...
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The transportation and storage sector is one of the important service sectors in the Czech Republic. The sector’s gross value added (GVA) reached CZK 242bn in 2016, accounting for 5.6% of total GVA and 9.3% of GVA from services. The ...
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Food and beverages accounted for over 22% of the consumption expenditure of Czech households in 2015. The food and beverages sector’s gross value added (GVA) amounted to CZK 83.4bn in 2015, accounting for 2% of the economy’s total GVA and ...
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The automotive sector’s gross output accounted for 10.3% of the total gross output of the Czech economy in 2015, up from 8.5% in 2011. The sector’s share of the total gross value added (GVA) also increased to 5.2% in 2015 from 4.5% in ...
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The mining and quarrying sector’s gross output, which includes the extraction of oil and natural gas, accounted for 0.6% of the total gross output of the Czech economy in 2015, significantly down from its share of 1% in 2011. At the same time, ...
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