GDP Resources and Uses - 2nd quarter of 2026

The refined estimate confirmed the ongoing growth of the Czech economy. The gross domestic product (GDP) adjusted for price effects and seasonally adjusted^[1] increased by 0.4% compared to the previous quarter. In the year-on-year (y-o-y) comparison, it increased by 1.9%.

The gross value added (GVA) increased in the Q2 2026 by 0.4%, quarter-on-quarter (q-o-q). Mainly industry (+0.9%), a group of economic activities of trade, transportation, accommodation and food service activities (+0.4%), financial and insurance activities (+2.7%), and real estate activities (+0.6%) supported the q-o-q growth. Construction was also successful (+0.3%).

The y-o-y growth of the GVA by 1.8% was positively influenced especially by industry +0.4 percentage point (p. p.; +1.8%), by a group of economic activities of trade, transportation, accommodation and food service activities +0.4 p. p. (+2.4%), and by information and communication +0.3 p. p. (+4.1%).

“On the demand side, the following were the main factors of the q-o-q growth of the gross domestic product in the second quarter of 2026: final consumption expenditure of households, the gross fixed capital formation, and external demand. A change in inventories had a negative influence,“ Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), comments on the data.

The following had a positive influence on the y-o-y GDP growth (+1.9%): final consumption expenditure of households +1.1 p. p. ^[2], final consumption expenditure of general government +0.2 p. p., the gross fixed capital formation +1.7 p. p., and international trade balance +0.2 p. p. A change in inventories had a negative influence -1.3 p. p.

Final consumption expenditure increased by 0.5%, q-o-q. In the y-o-y comparison, it increased by 2.2%. Of that, final consumption expenditure of households increased by 0.5%, q-o-q, and by 2.7%, y-o-y. Final consumption expenditure of general government increased by 0.1%, q-o-q, and in the y-o-y comparison by 1.0%.

Gross fixed capital formation increased by 1.5%, q-o-q; in the y-o-y comparison, it increased by 7.1%. A y-o-y growth was mainly recorded by investments in dwellings, other buildings and structures, and transport equipment.

The change in inventories^[3] was CZK +17.6 billion, which was, however, by CZK 17.9 billion less compared to the corresponding quarter of the previous year.

The international trade balance of goods and services at current prices reached the value of CZK 99.0 bn; thus it was by CZK 20.5 bn lower than in the corresponding period of the previous year. Exports increased in real terms by 0.9%, q-o-q, and in the y-o-y comparison it increased by 3.3%, mainly thanks to exports of motor vehicles, computer, electronic and optical products, and electrical equipment. Imports remained unchanged, q-o-q, and in the y-o-y comparison it increased by 3.7%.

The price level measured by the GDP deflator increased in the Q2 2026 by 1.0%, q-o-q, and by 2.6%, y-o-y.

The volume of labour costs³ increased by 7.1%, y-o-y, in the Q2 2026.

Total employment^[4] increased by 0.9% compared to the previous quarter and in the y-o-y comparison it increased by 1.5%. The number of hours worked in total increased by 0.7%, q-o-q, and in the y-o-y comparison it increased by 2.8%.