CTK reports that Czech 2003 GDP was 73% of the current EU average according to the figures released by Czech Statistics Office. This marks a slight improvement in terms of catching up with EU states, although not due to a strong performance by the Czech economy but because accession of poorer countries has lowered the average EU GDP.
Within the country, the discrepancy of GDP figures is wide ranging. Prague, on the one hand, is well above the average with its 164%, and is the wealthiest region among newcomer countries and among the top wealthiest in the EU. It is also far ahead of other Czech regions in terms of GDP produced. Prague GDP per capita is approximately CZK 564,000 (approx. 18,500 euro), compared to CZK 200,000 in other regions.
However, analysts theorise that the numbers may be a bit distorted in that many companies headquarter in Prague, thus statistically contributing to GDP produced there, although they actually operate elsewhere in the country. On the other hand, the Olomoucky region is by far the poorest in the country with 55.7% of EU 2003 average.
By: N. Peter Kramer
