Appendix 1 Structure of Government Finances
Composition of Government
The federal budget and the budgets of the Czech Republic and the Slovak Republic comprise the state budget, which represents central government in Czechoslovakia. Local government entities, known as “national committees”, operate at the regional, district, and local levels. The Czech Republic has eight regions, including Prague, and the Slovak Republic has four, including Bratislava. There are 127 districts within the regions, and 6,794 “centralized” towns and villages. Each republic also has three small extra-budgetary funds: the Clean Air Fund, the Soil Cultivation Fund, and the Water Fund. At present, social security operations are part of the general budgets of the republics and the national committees. General government in Czechoslovakia is thus defined as the state budget, national committees, and the extra-budgetary funds. The operations of the state budget and the national committees are carried out by budgetary organizations, defined as the basic units of public administration.8
The coverage of government as defined here omits many quasi-governmental activities that have taken place at the sectoral and industry level, such as the cross-subsidization of loss-making enterprises by profitable enterprises in the same sector. However, since market-oriented reforms began in Czechoslovakia, these activities have been largely reduced or eliminated. The quasi-fiscal activities of the State Bank, such as subsidized credit programs, have also been excluded. As part of the reform of the banking system, the cost of some of these activities is being transferred to the state budget.
The fiscal year is the calendar year. The components of the state budget are usually approved in December of each year; National Committees approve their budgets in January (i.e., at the start of the current fiscal year). There exists a complementary period lasting until April 30, during which lower levels of government and the enterprise sector settle their accounts with the state budget.9 Thus, in the final government accounts—which are presented to the Federal Assembly and the Czech and Slovak National Councils in May following the budget year to which they refer—financial deficits of lower levels of government have been made good by transfers from the federal government. Overall deficits are therefore reflected only in the latter’s accounts, with the exception of small amounts corresponding to the use of accumulated reserve funds by national committees.10 The Budgetary Procedures Act, to be passed during 1990, will permit levels of government other than the Federation to show a deficit. The budget may be revised during the year. In the past, revisions were frequent, to accommodate adjustments in the State Plan, and the changes usually did not require approval by Parliament. Parliamentary approval is necessary only when a budget revision will worsen the overall budgetary outturn.
Relations Between Levels of Government
In 1988, the state budget accounted for two thirds of general government outlays, and the national committees for just under one third (Appendix Table A12). Excluding intergovernmental transfers, the federal government and the Czech Republic each accounted for around 38 percent of total state budget expenditure, while the direct expenditures of the Slovak Republic amounted to 23 percent of the total. The pattern of revenue collection is quite different from that of expenditure. In 1988 the federal government received 57 percent of general government revenue and 68 percent of state budget receipts. The Czech Republic contributed 22 percent of state budget revenue, and the Slovak Republic just under 10 percent.
The Federal Assembly approves only the federal budget, which influences the budgets of the republics through the level of transfers to them from the federal government. These transfers are significant. In 1988 they amounted to 52 percent of the total revenues of the Czech and 62 percent of those of the Slovak Republics. The republics, whose budgets are approved by their National Councils, are in turn responsible for transfers to the national committees in their territory, and to the extra-budgetary funds. Until 1989, transfers to national committees covered approximately half their expenditures.
In the past, each level of government received the income taxes paid by the enterprises and labor force under its jurisdiction. The federal government was responsible for strategic industry (such as energy, metallurgy, machinery, railroads, and communications). The republics managed other industries (including chemicals, construction, agriculture, and consumer goods). Services and small business (“local industry”) reported to the national committees. The proceeds of the turnover tax accrued exclusively to the federal government and national committees, and all foreign trade levies (net of subsidies), regardless of the type of industry that paid them, accrued to the federal government.
In order to stabilize the revenue base for the national committees as much as possible, revenue allocation procedures have been changed in recent years. Since 1986, wage tax revenue has been transferred from the republics to the national committees, and transfers to the latter reduced by an equivalent amount. Moreover, from 1990 on, all turnover tax will accrue to the state budget, to be divided proportionately between the federal government and the republics. Payroll tax receipts will also be distributed between the republics. The net result of the reallocation is that, from 1990, the contribution of national committees to general government revenue will rise from 16.6 percent to 19.5 percent, while the share of transfers in their total revenue is projected to fall from about one half to around one third. And, within the state budget, the share of revenue accruing directly to the republics will be raised.
On the expenditure side, the federal government is responsible for defence, internal security, foreign relations, and economic concerns (such as energy and communications) relevant to the country as a whole. The republics cover all direct subsidies to agriculture, 95 percent of social security outlays, and more than 80 percent of direct subsidies to enterprises, while the national committees provide social services, such as education, hospitals, cultural activity, and subsidies for state housing, residential construction, and urban transport.
Revenues
Tax revenues generally accounted for around 85 percent of total general government revenue between the mid-1970s and 1988 (Chart 5 and Appendix Table A13). The contribution of taxes to the state budget was slightly higher—around 90 percent during the period—reflecting national committees’ greater reliance on fees and charges for services, imposed at the local level. The most important single revenue items are the enterprise profit tax and the turnover tax, each of which contributes around 30 percent of total state budget revenue.11 Non-tax revenue is composed mainly of the own-earnings of budgetary organizations (such as payments for school meals and veterinary services) and, prior to 1989, budgetary levies on enterprises’ depreciation funds.
Composition of General Government Revenue, 1980–89
(In percent of total revenue)
Source: Czechoslovak authorities.The following are the principal features of the main taxes.
Taxes on Income and Profit
Profit taxes are levied on the earnings of state enterprises, cooperatives and joint ventures, and on agricultural income. The laws governing the taxation of profit were revised in 1989, with the aim of moving toward a unification of tax bases in the productive sector. Rates are being reduced from their former levels of 75-85 percent (depending on the type of enterprise) to 55 percent, to be phased in during 1990 and 1991.12 Private sector firms are to be subject to the same regime, while foreign investors, including joint ventures, will be taxed at a rate of 40 percent.
The concept of net income is more restrictive than in market-economy accounting systems. Many expenses (such as advertising, late charges, inputs outside the plan, and 13th-month workers’ bonuses) are considered a discretionary use of profit and must be included in the profit tax base. Depreciation schedules are typically very long, with 6 to 10 percent of the value of firms’ capital amortized each year. (Prior to 1989, levies equivalent to 20 percent of depreciation—defined according to published schedules for each type of capital—were paid to the state budget, where they were recorded as non-tax revenue.)
There are few exemptions from the profit tax—mainly subsidized agencies, such as theatres and museums. Tax holidays may be negotiated for up to two years, or longer in exceptional cases in which foreign-capital joint ventures offer strategically important services (such as pollution control). A withholding tax on dividends, interest, and copyright earnings (at a general rate of 20 percent), and on royalties (at 30 percent) exists, but has been applied only to foreigners, with its incidence significantly mitigated by double-taxation agreements, signed with 18 countries. Enterprises that transgress wage or price ceilings are subject to a penalty tax, constructed so as to offset the profit tax foregone or pass onto the budget the “excess profit” earned.
The payroll tax, although part of general budgetary revenue (26 percent of state budget receipts since 1989, when its rate was raised from 20 to 50 percent), is conceived as the employer’s contribution to social security. It is levied on all wages and bonuses, but is paid only by enterprises, not by budgetary organizations.
Individual income taxes are all paid to the national committees. The wages tax (withheld by enterprises) accounts for 95 percent of personal income tax revenue, since, under the present system, 90 percent of the labor force earns a wage. The wages tax, which now represents the main source of income to the national committees, will contribute 37 percent of National Committee revenue and 59 percent of their own resources in 1990. The other individual taxes are levied on non-wage private sector activity, agricultural activity, literary and artistic activity, and rental income; they have a minimal revenue yield. Individual income taxes are levied at progressive rates, with top rates of 20 percent for the wage tax and 80 percent for the tax on non-wage private sector activity. The average tax burden from the wage tax is around 18 percent of wage income; that of the private sector income tax is now lower than the top rate would suggest, since abatements of up to 50 percent have been offered in 1989 and 1990 in anticipation of complete reform of private sector income taxation.
Indirect Taxes
In the Czechoslovak budgetary system, indirect taxes have been used primarily as instruments of redistribution via the price system. The turnover tax, the internal market differential, and foreign trade levies each siphon off profits earned from trading at administratively fixed prices, above a permitted margin.
The turnover tax is levied on final consumption goods. Capital goods and exports are exempt. In the majority of cases it is levied as 50 to 100 percent of the difference between wholesale and retail prices, after a specified profit mark-up has been applied. The prevalence of discretionary price adjustments implies that effective tax rates and overall revenue yield can shift significantly. Less frequently, the tax is applied as a fixed percentage of the wholesale price. (When the retail price is below the wholesale price plus a margin, turnover tax paid is negative—a subsidy.) In 1988, the turnover tax burden by industrial sector ranged from around 40 percent for chemicals, metals, and clothes, to subsidies of 76 percent on solid fuel, 38 percent on heat generation, and 23 percent on construction materials. There are no excises in Czechoslovakia. However, for some goods such as alcohol, tobacco, cars, gasoline, and electronics, the spread between the wholesale and retail prices is very large, so that the turnover tax includes an implicit excise tax component.
The internal market differential is levied on imports of consumer goods; based on the same rules as the turnover tax, it is the difference between the import price and the domestic retail price (less mark-up). Foreign trade levies (surrenders) are collected on the difference between import prices and domestic wholesale prices (less mark-up), at a rate of 100 percent, on a group of imports (mainly raw materials) sold to other than final consumers. Foreign trade surrenders are part of the FENZO (Economic Instruments for the Regulation of Foreign Trade) system of managing external trade, which is administered by the Ministry of Foreign Trade. The FENZO system also includes subsidies (when import prices are higher than domestic wholesale prices) for the group of imports specified above, subsidies on exports, and a 10 percent tax on earnings from price differentials on non-obligatory exports to socialist countries.13
Other Revenue Sources
Czechoslovakia, like other planned economies, has a relatively comprehensive cadastre, or register, which is used as the basis for a tax on agricultural land (applicable to enterprises, cooperatives and individuals on the same conditions) and a residential property tax. These taxes are differentiated by the type and quality of land or the type and size of community. Exemptions are numerous, and their yield is minor. Stamp duties (“notary fees”) are also levied, again with a small yield. National committees, in particular, but also budgetary organizations within the state budget, collect fees and charges on items such as school meals, dispensaries, veterinary services, spas, and dog licenses.
Tax Reform
In the latter half of the 1980s, Czechoslovakia undertook a certain amount of tax reform. The effective unification of the enterprise profit tax in 3989, the amendment and broader application of the Customs tariff (from January 1, 1990), the reallocation of revenues among different levels of government, and the removal of depreciation contributions from the revenue base have been the main fruits of reform so far.
Expenditure
Current expenditure accounts for a large and growing share of total general government outlays, reflecting a decline in capital transfers to enterprises and public investment and a steady increase in price subsidies (Chart 6 and Appendix Tables A14 and A15). Its share has risen from 78 percent in 1975 to 86 percent in 1988. Subsidies and transfers account for more than 50 percent of current expenditure; their share has also tended to rise—at the expense of direct government consumption.
General Government Expenditure, 1980–89
(In percent of total expenditure)
Source: Czechoslovak authorities.Government wages are lower than in other sectors of the economy, and the civil service appears to be relatively small. Reflecting the responsibility of the national committees for expenditure on education and health, wages are concentrated at that level of government. Data on wages are understated to the extent that “service expenditure” may include some security-related remuneration.
Expenditure on other goods and services includes outlays for material and supplies, and service expenditure. The latter comprises spending on durables and security.
The social security system is comprehensive, covering practically all the population with provision for old-age, disability or widow’s pensions, children’s allowances, maternity benefits, and sickness insurance. Old age pensions account for more than 60 percent of social security expenditure. Depending on type and number of years of employment (and some other characteristics), workers are entitled to pension at 53–60 years of age, at a basic rate of 50-60 percent of their earnings, plus additions for years of employment. The average old age pension in 1988 was 49 percent of the average wage (which was Kcs. 3,054 a month).
Subsidies may be divided into three major components: negative turnover tax, direct transfers to enterprises (some of which are for price support and some of which cover deficits), and foreign trade subsidies (Table 5). Foreign trade subsidies have always made up less than 20 percent of the total. The dairy and meat industries are the most heavily subsidized; coal is also highly subsidized through the negative turnover tax, both in absolute terms and as a share of its retail price (with a subsidy rate of 81 percent in 1988).
Capital expenditure by government has been shrinking since the 1970s, both as a share of total outlays (from 22 percent in 1975 to 12 percent in 1988) and in proportion to NMP (from 15 percent to 8 percent over the period). The main reason for the decline is a fall in capital transfers to enterprises, as enterprises move toward self-sufficiency in financing investments. Direct government investment has remained fairly constant in terms of NMP since 1981 (at around 5.2 percent). About three-quarters of direct investment by government is carried out by national committees, which are responsible for the infrastructure in their localities (broadly defined to include schools and hospitals as well as roads and water supply).
Appendix 2 The Financial System
Institutions
Prior to 1990, Czechoslovakia’s financial system comprised four banks supported by a separate savings bank and insurance house for each of the two republics. All these institutions were state owned, though one was a joint-stock company.
The State Bank of Czechoslovakia, established in 1950, was the central bank, while at the same time performing the functions of a commercial credit bank for the whole economy. In its capacity as a central bank, the State Bank issued currency, acted as the principal bank for the Government, refinanced other banks, held the official reserves of gold, and prepared the annual monetary plan. As the sole domestic commercial bank, the State Bank provided banking services to enterprises and cooperatives through an extensive network of regional offices and branches. Enterprises were required to deal with particular branches.
The Czechoslovak Obchodni Bank (COB), a joint-stock company with 51 percent of the shares owned by the State Bank and the remainder by foreign trade enterprises, was founded in 1964 as a commercial bank that services foreign trade enterprises and supervises all foreign trade transactions, in both foreign and domestic currencies. The bank undertakes short-term and long-term credit operations in connection with Czechoslovak imports and exports. It grants credit to foreign customers for Czechoslovak merchandise, directly or through the intermediary of their banks.
The Zivnostenska Bank, which has its head office in Prague and a branch office in London, has handled financial transactions for private individuals and nonprofit institutions. The head office accepts deposits from foreigners in domestic and foreign currencies and has kept accounts in domestic currency for Czechoslovak citizens who work abroad.
The Investment Bank, which prior to 1958 granted investment credits, was responsible for the holdings by the state budgets of the federation, republics, and other state funds of securities that were mainly foreign and had been originally acquired by the Government when such assets were nationalized in 1948. The portfolio has steadily fallen.
Each republic had its own savings bank, operating through a large network of small local offices. All household deposits and lending were channeled through them and they redeposited the bulk of their deposits with the State Bank. All deposits were guaranteed by the state. Much of the lending activity of the savings banks took the form of loans for housing and to newly married couples, with fixed and heavily subsidized interest rates. All insurance activities within each republic were handled by the respective republican insurance house. The financial assets of these institutions were deposited with the State Bank.
In 1989, preparations were made to split the State Bank, separating out the commercial bank activities from those of a central bank, while widening the role of the other banks and encouraging competition. From January 1, 1990, the new State Bank, with headquarters in Prague, became the central bank, responsible for regulating the operations of the banks and savings banks and carrying out bank supervision as necessary. The State Bank continues to be responsible for currency issue and for foreign exchange policy and keeps the accounts of the banks, savings banks, and state budget.
Under the 1989 banking law, all banks and savings banks are, with effect from January 1, 1990, permitted to operate anywhere in the country and in all fields of banking other than foreign lending and borrowing. Customers are free to choose branches or banks. The former commercial activities of the State Bank were handed over to the newly created banks. To facilitate a quick initial allocation of the assets and liabilities between the new banks, the commercial operations were divided along territorial lines. The Commercial Bank was set up to operate initially using former branches of the State Bank on the territory of the Czech Republic. The General Credit Bank performs similar functions on the territory of the Slovak Republic. Lastly, the Investment Bank, using the offices of the old bank of the same name, based in Prague, was set up by the Federal Ministry of Finance initially to handle transactions with federal institutions, primarily the Government.
The breakup of the State Bank was achieved by splitting up certain sections of the bank that had performed most of the commercial activities. Assets and liabilities were similarly divided. With no additional capital having been brought in, the capital/assets ratios of the new banks were very low. Moreover, the quality of their loan portfolios has not yet been properly assessed. The manner of the allocation of the assets and liabilities resulted in a need for credit from the State Bank and Obchodni Bank. Although the new banks remain state owned, profits are no longer automatically surrendered to the state budget, but are subject to a tax (currently set at 75 percent).
Banking activity associated with foreign trade by enterprises remains the responsibility of the COB, although the law provides for other banks to be authorized to engage in such activity. Similarly, Zivnostenska Bank continues to be responsible for foreign transactions of private citizens. The former savings banks currently operate on a republic basis as before because of their existing branch networks. Competition between the financial institutions is currently limited by the location of bank offices and the lack of previous experience of the savings banks in conducting credit business with enterprises.
The recent legislation envisaged the establishment of further new banks, but the Government’s intention is that the new banking structure be allowed to establish itself before facing competition. Foreign capital up to 35 percent of total capital is permitted in a banking institution but, as yet, the only bank with foreign participation clearly planned is the Agrobank, which started operating in July 1990 and concentrates on agricultural and food enterprises. Foreign banks are not yet permitted to conduct business in Czechoslovakia, though there are proposals for such banks to open representative offices and for foreign participation in some of the existing domestic banks.
Financial Markets
There were no money markets, stock exchange, or significant interbank transactions other than the routine deposit of assets by the savings banks with the State Bank; other interbank deposits are now permissible (since January 1, 1990) and a small market in such deposits has begun to emerge. Rates for these transactions have been in the 5.0–5.5 percent range. Promissory notes are barely used except in limited cases of inter-enterprise supplier credits. The Federal Government approved on February 8, 1990 the use of bonds in the domestic economy. Trade in bonds had been abolished in 1945 with the exception of a limited number of transactions concerning the issue of securities in joint-stock companies, bills of exchange, checks, and of lottery tickets. Bonds may now be issued by enterprises, banks, and savings institutions. Applications have to be presented to the Federal Ministry of Finance and the State Bank, accompanied by detailed justifications and specifications. The primary sale of these bonds will be carried out either by enterprises or banks. Though some 40 issues—mainly to attract funds from enterprises’ own employees—are being prepared, no bonds have yet been sold. Both the Commercial Bank and the General Credit Bank have drawn up proposals for large issues.
Monetary Policy and Prudential Control
Monetary policy, as implemented through the monetary plan, was formed as part of a generally cautious macroeconomic policy from the late-1970s onward. Under the traditional system, the basis for monetary policy was the state plan. Within that plan there was a monetary plan, drafted with the help of the State Bank, which sought to ensure that the evolution of money in circulation was in line with production developments and set out the level, type, and cost of credits to be granted at all levels of the economy. From 1970 onward, at least formally, there were three independent plans: the state economic plan (prepared by the State Planning Commission); the state budget (prepared by the Ministry of Finance); and the monetary plan, which included the foreign exchange plan. To the extent that the monetary plan was able to influence the other two, rather than being strictly responsive to those plans, monetary policy was not as completely passive as in some other socialist economies.
After Government approval, the monetary plan was broken down so as to specify for each economic unit in the socialist sector the scope of credits and foreign exchange it could draw upon. Interest rates were essentially fixed, and in the case of loans for housing and for newly married couples were set at low rates in the state plans. Changes in credit allocation and interest rates could only be made to correct for over- or under-fulfillment of the state plan’s production and credit targets.
The last monetary plan was drafted for 1990. Though the concept of a central plan has been rejected for conducting monetary policy in the future, the draft plan did contain guidelines in force for the first part of 1990 which are interpreted and applied by the State Bank. The primary instrument of monetary control to be applied in 1990 is that the increase in internal credits is to be kept to a range of – 2 to +1 percent compared with levels at the end of 1989. The State Bank set a maximum limit on refinancing credit for each bank.
The main method of implementing monetary policy in 1990 is moral suasion, with the State Bank advising the two main commercial banks closely. In addition, and in preparation for an expanded banking system, the State Bank established guidelines and prudential regulations for the banks which included limits on capital/assets ratios, credit/deposit ratios, foreign credits and excessive concentration of credits. Moreover, in an attempt to begin to enforce minimum reserve requirements, banks had to increase, from zero, their obligatory minimum reserves kept with the State Bank by 5 percent of the growth of all koruny deposits, excluding interbank deposits.
Interest Rates
Credit and interest rates have not played as significant a role in the allocation of resources as in market economies. In general, interest rates have been fixed according to the type of deposit or credit, with different rates for enterprises and households (Appendix Tables A19 and A20). The general principle was that the longer the term of the loan, the higher the rate of interest charged; for deposits, minimum rates were set at lower levels. Most deposit and credit rates have been positive in real terms when assessed on the basis of changes in official price indices.
From January 1, 1990, the State Bank established a discount rate of 4 percent for banks seeking refinance. This rate was raised to 5 percent in April 1990 and the Bank intended to raise it further in the future. Official price indices showed inflation at 3½ percent in the 12 months from March 1989-March 1990, implying a small but positive real interest rate.
Interest rates on both operational and investment credits by enterprises have been very stable in recent years. Nominal interest rates on operational credits averaged about 5.7 percent, and on investment credits about 5.3 percent in the 1980s. Operational credits to cooperatives were slightly cheaper and credits for housing were charged only 1 percent. Interest rates are currently linked directly to the discount rate. For example, credits up to one year pay the discount rate +2 percentage points maximum while overdrafts necessitated by temporary lack of means of payment are charged the discount rate + 8 percentage points maximum.
Enterprise deposits are almost all demand deposits. Deposits by enterprises and cooperatives with the State Bank, and now the commercial banks, received low rates of interest, averaging less than 1 percent. Minimum rates were raised in 1990 and now range from ½ of 1 percent a year for deposits of between six months to one year, to 5 percent for accounts maturing in over four years.
There is a set schedule of rates for housing loans for individuals from the savings banks. For single units, interest rates are 2.7 percent and for multiple units, 1 percent. Loans to newly married couples merit slightly lower rates of interest. For the small amount of other credit extended to households, notably for installment purchases of goods, interest rates have been about 3.6–4.3 percent in the 1980s. Rates on those credits have risen in 1990 with the increase in the discount rate to a current maximum of 12 percent for cash loans. In the past, interest rates paid on households’ demand and time deposits (as on loans to households) were fixed by the State Bank in cooperation with the Federal Ministry of Finance and the relevant republican ministry. Demand deposits earned about 2 percent, while savings deposits received 4 percent. On May 1, 1990, these fixed rates on savings deposits were abolished.
Appendix 3 Exchange and Trade System
The Exchange System
According to the Foreign Exchange Act which was approved by the Federal Assembly on December 13, 1989, the Government outlines the principles for foreign exchange policy based on a proposal by the State Bank which is responsible for carrying out foreign exchange policy, in coordination with the Federal Ministry of Finance and the Czech and Slovak Ministries of Finance.
Exchange Rates
Convertible Currencies
The currency of Czechoslovakia is the koruna (100 hallers = 1 koruna) which is pegged to a basket of five currencies, as described above. The State Bank quotes exchange rates weekly for 22 convertible currencies as well as the ECU and SDR. Three rates are quoted for convertible currencies, that is, one rate for commercial/noncommercial transactions, a tourist rate, and the so-called Tuzex rate, which is applied to transactions in Tuzex (tax-free) stores. In addition, an auction rate is established on a monthly basis. The spreads between buying and selling rates amount to 2 percent for the commercial/noncommercial rate, with the exception of bank notes for convertible currencies that have larger spreads (normally 3–5 percent). For the tourist rate, which is adjusted in line with developments in the parallel foreign exchange market, the spread is 20 percent. There are no spreads for the Tuzex rate and the auction rate. There are no forward exchange transactions.
Nonconvertible Currencies
As regards exchange rates vis-à-vis the CMEA area, a complicated system of multiple exchange rates for commercial and noncommercial transactions is in place. Czechoslovakia is a member of the Council for Mutual Economic Assistance (CMEA), which also includes Bulgaria, Cuba, the German Democratic Republic, Hungary, Mongolia, Poland, Romania, the U.S.S.R., and Viet Nam. Most trade and financial settlements with CMEA member countries are effected in transferable rubles through the International Bank for Economic Cooperation (IBEC), For commercial transactions, exchange rates against transferable rubles are now differentiated according to the trading partner. For example, at the end of April 1990, those rates were Kcs 8.55 (Bulgaria and Poland), Kcs 9.90 (Hungary), and Kcs 9.00 (all other CMEA countries) per transferable ruble. Multiple rates against the transferable ruble reflect differences in the domestic price level among the CMEA countries as well as the de facto bilateral nature of the clearing system within the CMEA area. In addition to commercial rates vis-à-vis the transferable ruble, commercial rates are quoted for the currencies of Bulgaria and the U.S.S.R., which apply to a small number of inter-enterprise transactions. The spread between buying and selling rates for all of the above exchange rates is 1 percent.
For noncommercial transactions, a system of multiple exchange rates is in place, which, in addition to the CMEA countries, also applies to Albania and the Democratic People’s Republic of Korea. Exchange transactions with these countries are denominated in U.S.S.R. rubles. Subsequently, the deposits/credits to banking accounts arising from the transactions are converted into transferable rubles and cleared through the IBEC. This conversion takes place on the basis of coefficients (i.e., the number of U.S.S.R. rubles per transferable rubles) that are in the range 1.5–1.7 for all countries except the Democratic People’s Republic of Korea, in which case it is 3.4.14
The noncommercial exchange rates were originally based on purchasing power calculations using two baskets of goods (for short-stay tourists and long-stay persons, respectively). The exchange rates, however, have increasingly become divorced from the actual price levels in the different countries. Moreover, the rates have been set in multilateral or bilateral agreements and could therefore be changed only with the consent of the partner countries. As a substantial net exporter of services to the CMEA area and with a system of exchange rates that undervalued the koruna, the noncommercial payment system has become increasingly disadvantageous to Czechoslovakia. Consequently, in March 1990 the Government notified its partner countries of its decision to discontinue the arrangement with effect from July 1, 1990. The Government is discussing with its partner countries, on a bilateral basis, a new payments arrangement for noncommercial transactions.
Finally, on March 30, 1990, a tourist exchange rate was introduced vis-à-vis the German Democratic Republic (GDR) because of arbitrage transactions in expectation of monetary union between the GDR and the Federal Republic of Germany. The tourist rate was initially set almost equal to the parallel market rate and changed weekly in light of developments in that rate, but since April 1990 it has been kept about 15 percent below the parallel market rate.
Foreign Exchange Retention Scheme
On January 1, 1989, a foreign exchange retention scheme was introduced. It was intended as a transitional scheme between the previous system of total central allocation of foreign exchange and a market-determined exchange system. The aim was that enterprises would be self-sufficient in external financing. Retention quotas were not fixed on a uniform basis but individually for each enterprise based on their export receipts to the convertible area and on their planned need for foreign exchange for the respective year to settle import obligations, In addition, if an enterprise’s exports to the convertible area exceeded the plan target, it was allowed to retain 70 percent of the difference, while the remainder would be surrendered. Moreover, enterprises had the choice between retaining foreign exchange from export earnings in the form of foreign currency deposits or selling the foreign exchange proceeds against local currency to banks with the right to buy back foreign exchange within a period of ten years at the exchange rate prevailing at the time the buyback takes place.15 Foreign exchange acquired via the buybacks can be used for basically the same transactions as foreign exchange deposited in foreign exchange accounts provided they are within the specified activity of the enterprise. For the economy as a whole in 1989, 40-45 percent of total foreign exchange earnings in freely convertible currencies were retained by enterprises and the remainder transferred to the Central Fund for Foreign Exchange.16 From this fund enterprises with no foreign exchange receipts (or insufficient receipts) receive direct allocations. Such allocations are typically made through branch economic ministries, which enjoy discretion in the ultimate allocation of the available foreign exchange to specific enterprises.
Resident and Nonresident Accounts
Already before 1988, a limited number of private residents and enterprises were, on an exceptional basis, allowed to hold foreign exchange accounts, after having received a foreign exchange license from the State Bank. The amounts on these accounts, however, were insignificant. In late 1988, access to foreign exchange accounts was eased and, since May 1, 1989, it has no longer been necessary for private residents to provide information about the source of foreign exchange. The interest rates paid by the banks on deposits are related to interest rates in the international market for the currency of denomination of the deposits. The foreign exchange deposited on these accounts can be used without limitation in Czechoslovakia or abroad.17
Nonresidents are allowed to hold two categories of accounts in Czechoslovakia. The first category comprises accounts in domestic currency, which may receive deposits from abroad without any limit or permission. However, transfers to such nonresident accounts from residents require a license from the respective foreign exchange authority, except in some specified cases. All payments abroad from these accounts, except transfers concerning inheritance or alimony, require a foreign exchange license from the State Bank. The second category of nonresident accounts consists of those maintained in foreign exchange in Czechoslovakia. Nonresidents may deposit foreign exchange in the accounts without any restriction or license and also use the foreign exchange without limitation in Czechoslovakia or abroad.
Trade System
Imports and Exports
There is no general trade licensing requirement for exports and imports. For four categories of imports, however, an import license is required for health or security reasons: (i) live animals and animal products; (ii) plants and vegetable products; (iii) narcotics; and (iv) weapons, ammunition, and explosives.
Until recently, foreign trade was closely regulated. The foreign exchange plan specified overall targets for exports and imports with individual targets for branch ministries.18 This system is now changing. While branch ministries continue to play an important role in the allocation of foreign exchange for import financing, an increasing proportion of foreign trade is being conducted autonomously by enterprises. Since January 1, 1989, enterprises have no longer been obliged to surrender total export proceeds to the banks, and have therefore been able to import from their retained export proceeds without any foreign exchange license. As explained above, enterprises with no, or insufficient, export proceeds remain dependent on central allocations of foreign exchange, which are typically made available to them through branch ministries. In relation to the transferable ruble area and bilateral clearing partners (e.g., Albania, Democratic Kampuchea, the Democratic People’s Republic of Korea, the Lao People’s Democratic Republic), the specification of planned targets for imports represents a foreign exchange license for payments abroad.
Invisibles
The foreign exchange plan also applies to invisible receipts and payments to and from the convertible area. The organizations and companies. specialized in providing services connected with foreign trade are given targets for foreign exchange receipts and expenditure, which at the same time imply a foreign exchange license. In relations with the transferable ruble area, transactions in some categories of invisibles are fixed by intergovernmental agreements, (e.g., transit payments in railways transport, transit of gas from the U.S.S.R., foreign workers, and tourism).
The regulations for tourism expenditure abroad have been liberalized. Until 1988, individual travel to the convertible area (apart from trips organized by travel agencies) was limited to those having received an invitation from relatives or to those having received a foreign exchange allocation, which could be obtained from the State Bank for up to a maximum amount of US$20 per day for 20 days. The resources in the foreign exchange plan typically covered only 10–20 percent of the amount of applications for convertible currencies. At the end of 1989, a each party to the other new system was introduced whereby holders of a passport became entitled to buy convertible currency equivalent to Kcs 2,000 per year. Moreover, since 1988 it has been possible for residents to receive purpose-tied transfers from abroad to be used for covering travel expenses. In 1989, the share of tourism expenditure financed from foreign exchange accounts and from purpose-tied transfers surpassed the share financed from official allocations.
For tourism expenditure of residents in the transferable ruble area in 1989, a limit was set equivalent to Kcs 500 per person per day. From 1990, this was replaced by an overall limit equivalent to Kcs 15,000 per person per trip.
Foreign Trade Organizations
On July 1, 1988, the Law on External Economic Relations came into effect, which considerably increased the possibilities of companies to engage in foreign trade activities. Previously foreign trade had been confined to 50–60 foreign trade organizations under the supervision of the Federal Ministry of Foreign Trade. The number has since increased to more than 500 organizations, although the previous 50–60 foreign trade organizations still account for 80–85 percent of total foreign trade. The newly established organizations are concentrated in services and products used by small-scale industry. While authorization was required by the Federal Ministry of Foreign Trade in the past, since April 1990 only registration has been necessary.
Foreign Trade Subsidies and Taxes
Since 1989 the system of foreign trade and subsidies and taxes has been modified. The total difference between domestic and foreign prices is no longer covered by subsidies from or transfers to the budget. A distinction is made between exports and imports to the convertible and nonconvertible area, respectively. For exports to the convertible area, if export prices are less than domestic wholesale prices, the entire difference is covered by subsidies from the budget, although these are generally subject to an overall budgetary ceiling. If export prices are greater than wholesale prices, the enterprises keep the difference. For exports to the nonconvertible area, the scheme differs when export prices are greater than domestic prices, in which case the enterprise surrenders 10 percent of the difference to the state budget for export proceeds from nonobligatory exports.19 Only state enterprises receive subsidies, that is, private companies and joint ventures do not receive subsidies.
On the import side, a distinction is made between two categories of commodities. For a basic group of imports comprising oil, raw material, steel products, and the like, the entire difference between domestic and foreign prices is covered by subsidies from or transfers to the budget without budgetary limitation. In 1989, this group comprised 50 percent of imports from the socialist area and 37 percent from the nonsocialist area. For all remaining imports, no transfers or subsidies apply.
A further export incentive scheme was introduced on January 1, 1990, modifying a previous scheme.20 The new incentive scheme applies to certain export commodities. It is a premium from the state budget on goods, other than raw material, energy, and mining products for which the ratio of export prices to domestic wholesale prices exceeds 0.95. The premium ranges from 1.1–5.3 percent for different export groups. The cost of the incentive scheme is about 2.5 percent of total exports.
Import Tariff
In December 1986, Czechoslovakia signed the Convention on the Harmonized Commodity Description and Coding System and on this basis a harmonized system of customs duties was introduced on January 1, 1989. The incidence of customs duties is 4.3 percent of imports. All goods are subject to customs duties except those that are explicitly listed as duty free in the customs tariff. Customs duties are preferential for developing countries. Tariff preferences are applied in relation to 124 developing countries and imports from 44 least-developed countries are exempt from duties. While customs duties have been collected in the past, they were later refunded because of domestic price control. However, from 1990, refunds of customs duties will apply only to a limited number of imports.
Trade Agreements
Czechoslovakia has seven export restraint agreements concerning exports of textile products (the basis of bilateral accords is the Multi-Fiber Agreement), metallurgical products, and mutton. In relation to the European Economic Communities (EEC), there are regulations on exports of metallurgical products, textile products, and mutton. In relation to the United States, Canada, and Norway, export constraints relate to textile products.
In June 1988, a joint declaration on the establishment of official relations between the CMEA and the EEC was concluded. This was followed by the signing of the Agreement on Trade in Industrial Products between Czechoslovakia and the EEC on December 19, 1988, which became effective on April 1, 1989. The agreement was based on the principle of most-favored-nation treatment. In May 1990, Czechoslovakia and the EEC and the European Atomic Energy Community signed an agreement on trade and commercial and economic cooperation. The agreement, which extends over a ten-year period, covers all products except those subject to export restraint. It is similar in coverage, with a few exceptions, to agreements concluded between the EEC and Poland and Hungary.
In April 1990, a new trade agreement was signed between Czechoslovakia and the United States, which is based on the principle of most-favored-nation treatment accorded by each party to the other country’s products, and as defined under the GATT. The agreement also provides for expansion in trade in goods and services between the two countries. In the past, trade with the United States accounted for a relatively small proportion of total trade (1–2 percent of trade in convertible currencies in 1989).
Capital
Authorized organizations for foreign trade can obtain suppliers” credits from abroad, provided the credits are part of the foreign exchange plan. Trade credits can be extended by the same organizations provided they hold foreign exchange in bank accounts or have buy-back claims. Borrowing from banks abroad requires a foreign exchange license which only the Obchodni Bank and the Zivnostenska Bank have obtained. Portfolio investment inflows or outflows generally require a foreign exchange license. In April 1990 the regulations for the acquisition by nonresidents of real estate in Czechoslovakia were tightened, as it was made no longer possible to obtain a foreign exchange license for such purposes. The only exception was inheritance. However, the Government could establish the conditions under which a nonresident, on an exceptional basis, could acquire real estate. Authorization for joint ventures is granted by the Federal Ministry of Finance and the Czech and Slovak Ministries of Finance, as well as by the State Bank in the case of financial institutions. Joint ventures can be established in all economic sectors except defense and security. There is no limit on equity participation by nonresidents.21 They are subject to more liberal foreign exchange regulations than applicable to domestic enterprises; being obliged to surrender 30 percent of their foreign exchange receipts, which is less than the average proportion for domestically owned enterprises. Prior to April 1990, joint ventures were not subject to a surrender requirement. They can establish foreign exchange accounts abroad (with foreign exchange license) and are allowed to accept credits in foreign currency from Czechoslovak banks. Credits from foreign banks, which are not allowed for domestic companies, can take place with the approval by the State Bank. The foreign investor can transfer his share in the profits abroad if the enterprise disposes of sufficient funds in foreign exchange. The foreign investor may also repatriate capital or, in the event of liquidation of the enterprise, freely transfer the full value of his capital participation in the original currency and the share in the assets of the enterprise exceeding the value of his share in its capital. Repatriation of capital is not dependent on the availability of foreign exchange. Joint-venture companies have a more favorable tax status than domestic companies. They are subject to income tax, social security contributions, and turnover tax, but exempt from other dues. Finally, joint venture companies are subject to the same labor laws as domestic companies.
Regarding direct investment abroad by domestic companies, residents can acquire shares in foreign companies subject to the approval of the State Bank. If the transaction is related to foreign trade activity, permission is granted by the Federal Ministry of Foreign Trade in agreement with the State Bank. In early 1990, direct investment by Czechoslovak companies existed in 166 foreign companies, 7 of which are in the CMEA area. Most of them facilitate the exports of Czechoslovakia.
Appendix 4 Czechoslovak Statistics
Czechoslovakia has a very well developed system of data collection and compilation covering the full range of economic and social statistics. In addition to information presented in annual and monthly publications, there is a considerable range of data that in the past was compiled for official use. These included balance of payments analyses, detailed monetary figures, and other financial indicators. The concepts and methods of compilation of these statistics are often different from those used in standard international presentations and to the extent possible appropriate adjustments have been made in the data included in this paper. One particular concern is the national accounts (see below). In addition, for monetary and balance of payments tables it was necessary to make considerable adjustments.
National Accounts
The discussion of economic performance in this paper is based mainly on net material product (NMP) using the System of Material Balances national accounting concepts. The difference between NMP and GDP (according to the U.N. System of National Accounts (SNA)) is primarily accounted for by the omission from NMP of depreciation and much of the value added of the nonmaterial service sector, including, in the case of the Czechoslovak methodology, personal transportation and communication. However, nonmaterial costs of the material sector are not deducted in calculating NMP. In recent years, the authorities have prepared unofficial estimates of GDP 22 and intend shortly to shift to an SNA basis for their official national accounts. In 1980, GDP was 20.7 percent higher than NMP; in 1988 it was 22 percent higher. The gradually widening difference between the two measures of output reflects the rising relative importance of depreciation costs.
Official price indices are generally reckoned to have understated true inflation, notably because certain price increases, spuriously claimed to be justified by quality improvements, have not been fully captured. Consequently, changes in real output may be somewhat overstated although it is difficult to estimate with precision the possible size of this effect.
Calculated as the value of the physical increase in stocks, measured on a historical cost basis, the estimate of stockbuilding is thought to be reasonably accurate through some small residual errors in the compilation of net material product by origin and final use are added to this figure.
Prices
Information on wholesale prices is collected quarterly from a sample of about 700 enterprises. Price indices are calculated for individual sectors, but no composite index for the total economy is presently published. Consumer price information is also collected quarterly from a wide variety of enterprises and shops. The weights for the goods component of the consumer price index are based on retail sales, while weights for services are based on expenditures of the population. Foodstuffs and industrial goods have the largest weights in the consumer price index—of 31 percent and 43 percent, respectively.
Balance of Payments
The balance of payments data are based on customs data for merchandise trade with a few supplementary adjustments to reflect revisions that have been made after publication of the customs data, which are never officially revised. Customs data for exports and imports include interest payments on any related suppliers’ credits for the duration of the credit (e.g., the data for imports financed by a three-year suppliers’ credit would include interest to be paid over the three years). In a partial correction for this problem, in the balance of payments in convertible currencies, calculated interest on suppliers’ credits has been subtracted from the exports and imports data and added to the services account. The sources of other balance of payments data are mainly payments statistics based on banking records and data from state enterprises on their capital transactions.
Exchange Rate Conversion
The conversion of balance of payments data from transferable rubles to U.S. dollars poses analytical difficulties. Trade in transferable rubles and in convertible currencies is subject to different price formation procedures. While prices for trade in convertible currencies broadly reflect market forces, import prices of energy products and other raw materials from the CMEA area are based on a five-year moving average of world market prices while prices of other traded goods with that area are subject to bilateral negotiations. Moreover, the conversion of data in transferable rubles into U.S. dollars is complicated by the absence of a market-based exchange rate between the two currencies. As a result, disaggregated balance of payments figures are presented to the extent possible. Where aggregate data are presented, they are based on a conversion of transferable ruble data into U.S. dollars at the cross rate implicit in Czechoslovakia’s commercial exchange rates for the two currencies.
The balance of payments data are presented by currency, that is, in (i) convertible currencies (Appendix Table A21), (ii) transferable rubles (Appendix Table A22), and (iii) other nonconvertible currencies (Appendix Table A23) (mainly under bilateral payments arrangements with Afghanistan, China, India, the Islamic Republic of Iran, Democratic Kampuchea, the Democratic People’s Republic of Korea, Lao P.D.R., and Yugoslavia). By contrast, trade data are classified by country groupings, i.e., socialist and nonsocialist countries. The socialist countries comprise CMEA countries as well as Albania, China, Democratic Kampuchea, Korea P.D.R., Lao P.D.R., and Yugoslavia. All other countries are classified as nonsocialist. This classification implies, for example, that trade in convertible currencies with socialist countries is included in the balance of payments in convertible currencies while it is included in the category for socialist countries in the trade data. The bulk of trade with the CMEA area takes place in transferable rubles.
Appendix 5 Appendix Tables
Derivation of Gross Domestic Product, 1980–88
(In billions of koruny at current prices)
Depletion of capital assets in addition to normal depreciation.
Less losses on stocks.
Derivation of Gross Domestic Product, 1980–88
(In billions of koruny at current prices)
| 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Domestic demand | ||||||||||
| Personal consumption | 257.2 | 262.5 | 271.1 | 279.7 | 287.2 | 297.6 | 306.1 | 315.3 | 330.4 | |
| Social consumption | 96.5 | 101.9 | 106.6 | 111.5 | 123.9 | 127.9 | 135.9 | 143.8 | 149.5 | |
| Accumulation | 124.2 | 91.8 | 96.6 | 94.5 | 101.5 | 102.3 | 112.6 | 106.2 | 99.9 | |
| Foreign balance | 3.2 | 11.9 | 15.2 | 16.5 | 22.0 | 22.4 | 9.3 | 10.0 | 18.3 | |
| Losses on fixed capital and works1 | 5.1 | 5.1 | 6.5 | 5.8 | 6.5 | 6.1 | 6.2 | 8.0 | 8.3 | |
| Net material product | 486.3 | 473.3 | 496.0 | 507.9 | 541.1 | 556.3 | 570.0 | 583.3 | 606.4 | |
| Value added on nonmaterial services | 77.8 | 73.3 | 74.3 | 73.3 | 76.4 | 83.6 | 85.3 | 89.1 | 92.0 | |
| Less nonmaterial costs of material sphere | 39.2 | 38.8 | 41.7 | 44.6 | 46.2 | 46.9 | 48.8 | 52.5 | 55.3 | |
| Depreciation2 | 62.0 | 70.5 | 72.8 | 77.9 | 81.2 | 84.0 | 88.1 | 91.2 | 96.8 | |
| GDP at market prices | 586.8 | 578.3 | 601.4 | 614.5 | 652.5 | 677.0 | 694.7 | 711.1 | 740.0 | |
Depletion of capital assets in addition to normal depreciation.
Less losses on stocks.
Derivation of Gross Domestic Product, 1980–88
(In billions of koruny at current prices)
| 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Domestic demand | ||||||||||
| Personal consumption | 257.2 | 262.5 | 271.1 | 279.7 | 287.2 | 297.6 | 306.1 | 315.3 | 330.4 | |
| Social consumption | 96.5 | 101.9 | 106.6 | 111.5 | 123.9 | 127.9 | 135.9 | 143.8 | 149.5 | |
| Accumulation | 124.2 | 91.8 | 96.6 | 94.5 | 101.5 | 102.3 | 112.6 | 106.2 | 99.9 | |
| Foreign balance | 3.2 | 11.9 | 15.2 | 16.5 | 22.0 | 22.4 | 9.3 | 10.0 | 18.3 | |
| Losses on fixed capital and works1 | 5.1 | 5.1 | 6.5 | 5.8 | 6.5 | 6.1 | 6.2 | 8.0 | 8.3 | |
| Net material product | 486.3 | 473.3 | 496.0 | 507.9 | 541.1 | 556.3 | 570.0 | 583.3 | 606.4 | |
| Value added on nonmaterial services | 77.8 | 73.3 | 74.3 | 73.3 | 76.4 | 83.6 | 85.3 | 89.1 | 92.0 | |
| Less nonmaterial costs of material sphere | 39.2 | 38.8 | 41.7 | 44.6 | 46.2 | 46.9 | 48.8 | 52.5 | 55.3 | |
| Depreciation2 | 62.0 | 70.5 | 72.8 | 77.9 | 81.2 | 84.0 | 88.1 | 91.2 | 96.8 | |
| GDP at market prices | 586.8 | 578.3 | 601.4 | 614.5 | 652.5 | 677.0 | 694.7 | 711.1 | 740.0 | |
Depletion of capital assets in addition to normal depreciation.
Less losses on stocks.
Net Material Product at Current Market Prices, 1970–89
(In billions of koruny)
Excluding personal transport and communication.
Includes change in unfinished construction.
Net Material Product at Current Market Prices, 1970–89
(In billions of koruny)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 Estimate | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net material product1 | 312.3 | 408.4 | 486.3 | 473.3 | 496.0 | 507.9 | 541.1 | 556.3 | 570.0 | 583.3 | 606.4 | 617.7 | |||
| By origin | |||||||||||||||
| Agriculture | 31.5 | 33.8 | 34.8 | 28.6 | 37.4 | 39.6 | 40.8 | 37.1 | 39.5 | 38.7 | 38.7 | … | |||
| Industry | 190.6 | 264.2 | 309.1 | 285.1 | 300.5 | 311.1 | 318.0 | 332.6 | 341.0 | 349.2 | 361.1 | … | |||
| Construction | 35.0 | 50.7 | 51.0 | 50.5 | 51.6 | 52.6 | 59.5 | 60.5 | 61.0 | 62.4 | 65.1 | … | |||
| Trade and catering | 28.6 | 36.6 | 49.9 | 66.3 | 61.6 | 59.2 | 74.5 | 75.0 | 76.4 | 82.5 | 91.8 | … | |||
| Other | 26.6 | 23.1 | 41.6 | 42.8 | 44.9 | 45.4 | 48.2 | 51.0 | 52.1 | 50.5 | 49.7 | … | |||
| By final use | |||||||||||||||
| Personal consumption | 167.7 | 213.8 | 257.2 | 262.5 | 271.1 | 279.7 | 287.2 | 297.6 | 306.1 | 315.3 | 330.4 | 343.0 | |||
| Social consumption | 52.3 | 77.6 | 96.5 | 101.9 | 106.6 | 111.5 | 123.9 | 127.9 | 135.9 | 143.8 | 149.5 | 155.3 | |||
| Accumulation | 80.8 | 116.8 | 124.2 | 91.8 | 96.6 | 94.5 | 101.5 | 102.3 | 112.6 | 106.2 | 99.9 | 98.0 | |||
| Net fixed investment2 | 61.9 | 95.3 | 88.3 | 79.2 | 82.4 | 79.0 | 88.8 | 88.1 | 94.4 | 82.5 | 89.3 | 82.6 | |||
| Change in stocks | 18.9 | 21.5 | 35.9 | 12.6 | 14.2 | 15.4 | 12.7 | 14.2 | 18.2 | 23.7 | 10.6 | 15.4 | |||
| Trade balance | 6.2 | -5.8 | 3.2 | 11.9 | 15.2 | 16.5 | 22.0 | 22.4 | 9.3 | 10.0 | 18.3 | 10.6 | |||
| Exports of goods and services | 83.9 | 145.5 | 195.5 | 176.4 | 189.7 | 194.7 | 223.3 | 234.9 | 234.6 | 238.1 | 247.7 | 245.4 | |||
| Imports of goods and services | 77.7 | 151.3 | 192.2 | 164.5 | 174.5 | 178.2 | 201.4 | 212.5 | 225.3 | 228.1 | 229.4 | 234.8 | |||
| Losses on fixed capital and stocks | 5.3 | 5.9 | 5.1 | 5.1 | 6.5 | 5.8 | 6.5 | 6.1 | 6.2 | 8.0 | 8.3 | 10.8 | |||
Excluding personal transport and communication.
Includes change in unfinished construction.
Net Material Product at Current Market Prices, 1970–89
(In billions of koruny)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 Estimate | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net material product1 | 312.3 | 408.4 | 486.3 | 473.3 | 496.0 | 507.9 | 541.1 | 556.3 | 570.0 | 583.3 | 606.4 | 617.7 | |||
| By origin | |||||||||||||||
| Agriculture | 31.5 | 33.8 | 34.8 | 28.6 | 37.4 | 39.6 | 40.8 | 37.1 | 39.5 | 38.7 | 38.7 | … | |||
| Industry | 190.6 | 264.2 | 309.1 | 285.1 | 300.5 | 311.1 | 318.0 | 332.6 | 341.0 | 349.2 | 361.1 | … | |||
| Construction | 35.0 | 50.7 | 51.0 | 50.5 | 51.6 | 52.6 | 59.5 | 60.5 | 61.0 | 62.4 | 65.1 | … | |||
| Trade and catering | 28.6 | 36.6 | 49.9 | 66.3 | 61.6 | 59.2 | 74.5 | 75.0 | 76.4 | 82.5 | 91.8 | … | |||
| Other | 26.6 | 23.1 | 41.6 | 42.8 | 44.9 | 45.4 | 48.2 | 51.0 | 52.1 | 50.5 | 49.7 | … | |||
| By final use | |||||||||||||||
| Personal consumption | 167.7 | 213.8 | 257.2 | 262.5 | 271.1 | 279.7 | 287.2 | 297.6 | 306.1 | 315.3 | 330.4 | 343.0 | |||
| Social consumption | 52.3 | 77.6 | 96.5 | 101.9 | 106.6 | 111.5 | 123.9 | 127.9 | 135.9 | 143.8 | 149.5 | 155.3 | |||
| Accumulation | 80.8 | 116.8 | 124.2 | 91.8 | 96.6 | 94.5 | 101.5 | 102.3 | 112.6 | 106.2 | 99.9 | 98.0 | |||
| Net fixed investment2 | 61.9 | 95.3 | 88.3 | 79.2 | 82.4 | 79.0 | 88.8 | 88.1 | 94.4 | 82.5 | 89.3 | 82.6 | |||
| Change in stocks | 18.9 | 21.5 | 35.9 | 12.6 | 14.2 | 15.4 | 12.7 | 14.2 | 18.2 | 23.7 | 10.6 | 15.4 | |||
| Trade balance | 6.2 | -5.8 | 3.2 | 11.9 | 15.2 | 16.5 | 22.0 | 22.4 | 9.3 | 10.0 | 18.3 | 10.6 | |||
| Exports of goods and services | 83.9 | 145.5 | 195.5 | 176.4 | 189.7 | 194.7 | 223.3 | 234.9 | 234.6 | 238.1 | 247.7 | 245.4 | |||
| Imports of goods and services | 77.7 | 151.3 | 192.2 | 164.5 | 174.5 | 178.2 | 201.4 | 212.5 | 225.3 | 228.1 | 229.4 | 234.8 | |||
| Losses on fixed capital and stocks | 5.3 | 5.9 | 5.1 | 5.1 | 6.5 | 5.8 | 6.5 | 6.1 | 6.2 | 8.0 | 8.3 | 10.8 | |||
Excluding personal transport and communication.
Includes change in unfinished construction.
Net Material Product at Constant Prices, 1970–891
Constant price rises are periodically rebased; thechanges shown represent a combination of data using constant prices of January 1, 1967, January 1, 1977, and January 1, 1984.
Includes change in unfinished construction.
Contribution to real growth of net material product.
Includes losses on fixed capital and stocks.
Net Material Product at Constant Prices, 1970–891
| Composition of NMP | Annual Average | Annual Percent Changes | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In percent of total at 1988 prices) | 1970-75 | 1975-80 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 Estimate | ||||
| Net material product | 100.0 | 5.7 | 3.6 | 2.9 | -0.1 | 0.2 | 2.3 | 3.5 | 3.0 | 2.6 | 2.1 | 2.3 | 1.3 | |||
| By origin | ||||||||||||||||
| Agriculture | 6.4 | 1.5 | 0.5 | 6.5 | -15.5 | 11.9 | 0.5 | 9.5 | -6.8 | 3.1 | -2.8 | -0.6 | … | |||
| Industry | 59.6 | 6.1 | 3.6 | 2.5 | -0.1 | -1.6 | 1.6 | 4.8 | 3.4 | 3.1 | 3.9 | 3.4 | … | |||
| Construction | 10.7 | 7.7 | 1.5 | 3.9 | 2.2 | -2.9 | 2.6 | -3.9 | 7.5 | 0.6 | 2.9 | 1.7 | … | |||
| Trade and catering | 15.1 | 7.0 | 8.1 | 4.7 | 4.2 | 3.8 | 5.5 | 3.3 | 2.8 | 2.1 | -1.3 | 2.9 | … | |||
| Other | 8.2 | 2.9 | 1.9 | -1.6 | 3.7 | 2.1 | 1.5 | -0.3 | 3.3 | 2.0 | -1.9 | -2.5 | … | |||
| By final use | ||||||||||||||||
| Personal consumption | 54.5 | 4.8 | 1.7 | -0.1 | 1.7 | -2.3 | 2.1 | 1.7 | 1.8 | 2.3 | 2.8 | 4.9 | 1.6 | |||
| Social consumption | 24.7 | 6.8 | 4.8 | 3.7 | 4.9 | 1.8 | 4.2 | 5.7 | 4.6 | 5.9 | 5.3 | 3.5 | 4.8 | |||
| Accumulation | 16.5 | 8.4 | 1.2 | 8.2 | -21.7 | -3.6 | -8.0 | -6.6 | 5.4 | 12.2 | -1.1 | -10.2 | 7.4 | |||
| Net fixed investment2 | 14.7 | 2.6 | -0.1 | -1.1 | -9.7 | 4.2 | -1.7 | -5.1 | 0.8 | 1.2 | -1.2 | 0.7 | … | |||
| Change in stocks3 | 1.7 | 0.3 | 0.2 | 2.1 | -4.0 | 0.5 | -0.2 | -1.1 | 0.5 | 0.7 | 1.0 | -2.4 | 0.8 | |||
| Trade balance3 | 3.0 | -1.14 | 1.34 | 0.2 | 3.3 | 1.8 | 1.6 | 2.3 | 0.0 | -2.0 | -0.6 | 0.4 | -2.0 | |||
| Exports | 40.9 | … | … | 2.8 | 1.7 | 5.7 | 4.9 | 11.1 | 3.8 | -0.2 | 1.8 | 3.4 | -1.1 | |||
| Imports | 37.8 | … | … | 2.1 | -7.6 | 1.9 | 0.3 | 6.9 | 4.1 | 4.9 | 3.7 | 2.5 | 4.2 | |||
| Losses on fixed capital and stocks | 1.4 | … | … | 5.3 | -1.5 | 18.7 | -11.2 | 9.5 | -8.0 | 1.0 | 12.7 | 1.1 | 14.1 | |||
Constant price rises are periodically rebased; thechanges shown represent a combination of data using constant prices of January 1, 1967, January 1, 1977, and January 1, 1984.
Includes change in unfinished construction.
Contribution to real growth of net material product.
Includes losses on fixed capital and stocks.
Net Material Product at Constant Prices, 1970–891
| Composition of NMP | Annual Average | Annual Percent Changes | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In percent of total at 1988 prices) | 1970-75 | 1975-80 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 Estimate | ||||
| Net material product | 100.0 | 5.7 | 3.6 | 2.9 | -0.1 | 0.2 | 2.3 | 3.5 | 3.0 | 2.6 | 2.1 | 2.3 | 1.3 | |||
| By origin | ||||||||||||||||
| Agriculture | 6.4 | 1.5 | 0.5 | 6.5 | -15.5 | 11.9 | 0.5 | 9.5 | -6.8 | 3.1 | -2.8 | -0.6 | … | |||
| Industry | 59.6 | 6.1 | 3.6 | 2.5 | -0.1 | -1.6 | 1.6 | 4.8 | 3.4 | 3.1 | 3.9 | 3.4 | … | |||
| Construction | 10.7 | 7.7 | 1.5 | 3.9 | 2.2 | -2.9 | 2.6 | -3.9 | 7.5 | 0.6 | 2.9 | 1.7 | … | |||
| Trade and catering | 15.1 | 7.0 | 8.1 | 4.7 | 4.2 | 3.8 | 5.5 | 3.3 | 2.8 | 2.1 | -1.3 | 2.9 | … | |||
| Other | 8.2 | 2.9 | 1.9 | -1.6 | 3.7 | 2.1 | 1.5 | -0.3 | 3.3 | 2.0 | -1.9 | -2.5 | … | |||
| By final use | ||||||||||||||||
| Personal consumption | 54.5 | 4.8 | 1.7 | -0.1 | 1.7 | -2.3 | 2.1 | 1.7 | 1.8 | 2.3 | 2.8 | 4.9 | 1.6 | |||
| Social consumption | 24.7 | 6.8 | 4.8 | 3.7 | 4.9 | 1.8 | 4.2 | 5.7 | 4.6 | 5.9 | 5.3 | 3.5 | 4.8 | |||
| Accumulation | 16.5 | 8.4 | 1.2 | 8.2 | -21.7 | -3.6 | -8.0 | -6.6 | 5.4 | 12.2 | -1.1 | -10.2 | 7.4 | |||
| Net fixed investment2 | 14.7 | 2.6 | -0.1 | -1.1 | -9.7 | 4.2 | -1.7 | -5.1 | 0.8 | 1.2 | -1.2 | 0.7 | … | |||
| Change in stocks3 | 1.7 | 0.3 | 0.2 | 2.1 | -4.0 | 0.5 | -0.2 | -1.1 | 0.5 | 0.7 | 1.0 | -2.4 | 0.8 | |||
| Trade balance3 | 3.0 | -1.14 | 1.34 | 0.2 | 3.3 | 1.8 | 1.6 | 2.3 | 0.0 | -2.0 | -0.6 | 0.4 | -2.0 | |||
| Exports | 40.9 | … | … | 2.8 | 1.7 | 5.7 | 4.9 | 11.1 | 3.8 | -0.2 | 1.8 | 3.4 | -1.1 | |||
| Imports | 37.8 | … | … | 2.1 | -7.6 | 1.9 | 0.3 | 6.9 | 4.1 | 4.9 | 3.7 | 2.5 | 4.2 | |||
| Losses on fixed capital and stocks | 1.4 | … | … | 5.3 | -1.5 | 18.7 | -11.2 | 9.5 | -8.0 | 1.0 | 12.7 | 1.1 | 14.1 | |||
Constant price rises are periodically rebased; thechanges shown represent a combination of data using constant prices of January 1, 1967, January 1, 1977, and January 1, 1984.
Includes change in unfinished construction.
Contribution to real growth of net material product.
Includes losses on fixed capital and stocks.
Money Incomes and Expenditures of the Population, 1970–89
(In billions of koruny)
Social benefits comprise mainly pensions, sickness benefits, and social aid for families with children.
Includes incomes of cooperative farms.
Includes interest payments on savings accounts, payments from insurance claims, gambling wins, business travel allowences, subsidies paid by enterprises in connection with work mobility, and borrowing by the household sector from the banking system.
Deflated using retail prices of goods and services.
Money Incomes and Expenditures of the Population, 1970–89
(In billions of koruny)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total money incomes | 226.4 | 292.1 | 356.9 | 366.1 | 381.8 | 393.5 | 403.8 | 416.6 | 430.1 | 444.4 | 463.3 | 478.7 | |
| Wages | 148.7 | 186.7 | 226.5 | 232.4 | 239.8 | 246.8 | 252.4 | 258.8 | 265.3 | 273.4 | 281.7 | 289.3 | |
| Social money benefits1 | 40.3 | 51.7 | 68.2 | 69.5 | 75.2 | 77.9 | 79.8 | 84.0 | 86.1 | 87.4 | 89.8 | 95.0 | |
| Nonwage incomes from economic activity2 | 24.5 | 32.5 | 37.6 | 38.4 | 40.2 | 40.8 | 42.2 | 43.1 | 45.2 | 45.8 | 47.8 | … | |
| Interest income | 1.3 | 2.9 | 4.3 | 4.6 | 5.0 | 5.4 | 5.9 | 6.3 | 6.9 | 7.5 | 8.1 | … | |
| Other3 | 11.6 | 18.3 | 20.3 | 21.2 | 21.6 | 22.6 | 23.6 | 24.4 | 26.6 | 30.3 | 35.9 | … | |
| Total money expenditures | 216.0 | 281.4 | 346.4 | 355.0 | 366.2 | 377.3 | 388.1 | 401.6 | 411.8 | 424.9 | 446.0 | 461.6 | |
| Retail purchases | 149.9 | 194.2 | 232.1 | 236.5 | 243.7 | 250.6 | 257.7 | 267.4 | 273.6 | 281.7 | 296.6 | 307.1 | |
| Services | 28.8 | 37.0 | 48.5 | 49.9 | 51.7 | 52.8 | 54.2 | 55.5 | 56.6 | 58.3 | 60.8 | 62.1 | |
| Taxes and levies to government | 25.4 | 32.1 | 41.0 | 42.4 | 43.6 | 45.2 | 46.8 | 48.2 | 49.6 | 51.5 | 53.6 | 55.7 | |
| Interest payments | 1.2 | 1.2 | 1.2 | 1.2 | 1.3 | 1.3 | 1.3 | 1.3 | 1.3 | 1.4 | 1.5 | … | |
| Other | 11.1 | 16.9 | 23.9 | 25.0 | 26.0 | 27.3 | 27.8 | 28.2 | 30.7 | 32.0 | 33.5 | … | |
| Financial savings | 10.3 | 10.6 | 10.4 | 11.1 | 15.6 | 16.2 | 15.7 | 15.0 | 18.3 | 19.5 | 17.3 | 17.1 | |
| Cash | 0.7 | 2.1 | 2.3 | 1.7 | 3.1 | 3.1 | 2.6 | 1.0 | 2.4 | 2.6 | 3.5 | 5.0 | |
| Savings | 9.6 | 8.5 | 8.1 | 9.4 | 12.5 | 13.1 | 13.1 | 14.0 | 15.9 | 16.9 | 13.8 | 12.1 | |
| Savings ratio (In percent) | 4.5 | 3.6 | 2.9 | 3.0 | 4.1 | 4.1 | 3.9 | 3.6 | 4.3 | 4.4 | 3.7 | 3.6 | |
| (Index at constant prices, 1980 = 100)4 | |||||||||||||
| Real money incomes | 71.0 | 90.8 | 100.0 | 101.8 | 101.0 | 103.1 | 104.8 | 105.7 | 108.6 | 112.1 | 116.7 | 118.9 | |
| Real money expenditures | 69.7 | 90.1 | 100.0 | 101.6 | 99.8 | 101.9 | 103.8 | 105.0 | 107.1 | 110.5 | 115.8 | 118.2 | |
Social benefits comprise mainly pensions, sickness benefits, and social aid for families with children.
Includes incomes of cooperative farms.
Includes interest payments on savings accounts, payments from insurance claims, gambling wins, business travel allowences, subsidies paid by enterprises in connection with work mobility, and borrowing by the household sector from the banking system.
Deflated using retail prices of goods and services.
Money Incomes and Expenditures of the Population, 1970–89
(In billions of koruny)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total money incomes | 226.4 | 292.1 | 356.9 | 366.1 | 381.8 | 393.5 | 403.8 | 416.6 | 430.1 | 444.4 | 463.3 | 478.7 | |
| Wages | 148.7 | 186.7 | 226.5 | 232.4 | 239.8 | 246.8 | 252.4 | 258.8 | 265.3 | 273.4 | 281.7 | 289.3 | |
| Social money benefits1 | 40.3 | 51.7 | 68.2 | 69.5 | 75.2 | 77.9 | 79.8 | 84.0 | 86.1 | 87.4 | 89.8 | 95.0 | |
| Nonwage incomes from economic activity2 | 24.5 | 32.5 | 37.6 | 38.4 | 40.2 | 40.8 | 42.2 | 43.1 | 45.2 | 45.8 | 47.8 | … | |
| Interest income | 1.3 | 2.9 | 4.3 | 4.6 | 5.0 | 5.4 | 5.9 | 6.3 | 6.9 | 7.5 | 8.1 | … | |
| Other3 | 11.6 | 18.3 | 20.3 | 21.2 | 21.6 | 22.6 | 23.6 | 24.4 | 26.6 | 30.3 | 35.9 | … | |
| Total money expenditures | 216.0 | 281.4 | 346.4 | 355.0 | 366.2 | 377.3 | 388.1 | 401.6 | 411.8 | 424.9 | 446.0 | 461.6 | |
| Retail purchases | 149.9 | 194.2 | 232.1 | 236.5 | 243.7 | 250.6 | 257.7 | 267.4 | 273.6 | 281.7 | 296.6 | 307.1 | |
| Services | 28.8 | 37.0 | 48.5 | 49.9 | 51.7 | 52.8 | 54.2 | 55.5 | 56.6 | 58.3 | 60.8 | 62.1 | |
| Taxes and levies to government | 25.4 | 32.1 | 41.0 | 42.4 | 43.6 | 45.2 | 46.8 | 48.2 | 49.6 | 51.5 | 53.6 | 55.7 | |
| Interest payments | 1.2 | 1.2 | 1.2 | 1.2 | 1.3 | 1.3 | 1.3 | 1.3 | 1.3 | 1.4 | 1.5 | … | |
| Other | 11.1 | 16.9 | 23.9 | 25.0 | 26.0 | 27.3 | 27.8 | 28.2 | 30.7 | 32.0 | 33.5 | … | |
| Financial savings | 10.3 | 10.6 | 10.4 | 11.1 | 15.6 | 16.2 | 15.7 | 15.0 | 18.3 | 19.5 | 17.3 | 17.1 | |
| Cash | 0.7 | 2.1 | 2.3 | 1.7 | 3.1 | 3.1 | 2.6 | 1.0 | 2.4 | 2.6 | 3.5 | 5.0 | |
| Savings | 9.6 | 8.5 | 8.1 | 9.4 | 12.5 | 13.1 | 13.1 | 14.0 | 15.9 | 16.9 | 13.8 | 12.1 | |
| Savings ratio (In percent) | 4.5 | 3.6 | 2.9 | 3.0 | 4.1 | 4.1 | 3.9 | 3.6 | 4.3 | 4.4 | 3.7 | 3.6 | |
| (Index at constant prices, 1980 = 100)4 | |||||||||||||
| Real money incomes | 71.0 | 90.8 | 100.0 | 101.8 | 101.0 | 103.1 | 104.8 | 105.7 | 108.6 | 112.1 | 116.7 | 118.9 | |
| Real money expenditures | 69.7 | 90.1 | 100.0 | 101.6 | 99.8 | 101.9 | 103.8 | 105.0 | 107.1 | 110.5 | 115.8 | 118.2 | |
Social benefits comprise mainly pensions, sickness benefits, and social aid for families with children.
Includes incomes of cooperative farms.
Includes interest payments on savings accounts, payments from insurance claims, gambling wins, business travel allowences, subsidies paid by enterprises in connection with work mobility, and borrowing by the household sector from the banking system.
Deflated using retail prices of goods and services.
Financial Position of Enterprises, 1980–89
(Including the monetary sector; in billions of koruny)
Excluding the monetary sector.
Financial Position of Enterprises, 1980–89
(Including the monetary sector; in billions of koruny)
| 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 19891 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Output | 1,165 | 1,220 | 1,295 | 1,332 | 1,450 | 1,497 | 1,552 | 1,595 | 1,627 | 1,621 | ||||||
| Of which: Price subsidies | 15 | 22 | 17 | 18 | 22 | 21 | 20 | 20 | 22 | 33 | ||||||
| 2. Costs | 1,058 | 1,115 | 1,187 | 1,211 | 1,321 | 1,363 | 1,414 | 1,452 | 1,477 | 1,513 | ||||||
| Of which: | ||||||||||||||||
| Material costs | 747 | 796 | 857 | 872 | 963 | 995 | 1,018 | 1,039 | 1,049 | 1,036 | ||||||
| Of which: | ||||||||||||||||
| Depreciation | 57 | 62 | 65 | 68 | 72 | 77 | 80 | 84 | 89 | 90 | ||||||
| Of which: | ||||||||||||||||
| Tax | 8 | 10 | 11 | 14 | 15 | 14 | 22 | 22 | 22 | 10 | ||||||
| Nonmaterial costs | 24 | 25 | 26 | 28 | 29 | 31 | 33 | 34 | 37 | 37 | ||||||
| Wage costs | 186 | 193 | 198 | 203 | 208 | 213 | 218 | 223 | 228 | 225 | ||||||
| Wage tax | 30 | 31 | 32 | 37 | 38 | 39 | 40 | 44 | 49 | 108 | ||||||
| Interest payments | 25 | 26 | 26 | 27 | 27 | 28 | 28 | 28 | 28 | 31 | ||||||
| Other | 46 | 44 | 48 | 44 | 56 | 57 | 77 | 84 | 86 | 76 | ||||||
| 3. 1 – 2 = gross profit | 107 | 105 | 108 | 121 | 129 | 134 | 138 | 143 | 150 | 108 | ||||||
| 4. Price differences on foreign trade | 1 | – | – | 1 | 13 | 20 | 19 | 21 | 21 | 23 | ||||||
| 5. Extraordinary receipts | 23 | 19 | 21 | 22 | 23 | 23 | 21 | 20 | 20 | 3 | ||||||
| 6. 3 + 4 + 5 = total gross profit | 131 | 124 | 129 | 144 | 165 | 177 | 178 | 184 | 191 | 134 | ||||||
| 7. Subsidies other than price subsidies | 81 | 61 | 55 | 55 | 55 | 54 | 57 | 62 | 69 | 75 | ||||||
| 8. Profit taxes | 112 | 92 | 101 | 110 | 127 | 145 | 135 | 147 | 147 | 89 | ||||||
| 9. 6 + 7 - 8 = net profit after taxation | 100 | 93 | 83 | 89 | 93 | 86 | 100 | 99 | 113 | 120 | ||||||
| 10. Other resources | 17 | -4 | 41 | 19 | 6 | 3 | 24 | 23 | 2 | -16 | ||||||
| 11. 9 + 10 = profit for distribution | 117 | 89 | 124 | 108 | 99 | 89 | 124 | 122 | 115 | 104 | ||||||
| 12. Distributed profit | 44 | 39 | 39 | 32 | 28 | 33 | 28 | 26 | 34 | 38 | ||||||
| Of which: | ||||||||||||||||
| Wage fund | 8 | 6 | 6 | 7 | 8 | 8 | 7 | 8 | 10 | 15 | ||||||
| Fund for cultural and social needs | 4 | 4 | 4 | 4 | 4 | 5 | 6 | 6 | 6 | 6 | ||||||
| 13. 11 – 12 = retained earnings | 73 | 50 | 85 | 76 | 71 | 56 | 96 | 96 | 81 | 66 | ||||||
| 14. Depreciation after taxation | 49 | 52 | 54 | 54 | 57 | 63 | 58 | 62 | 67 | 80 | ||||||
| 15. Borrowing from banks | 33 | 14 | 18 | 14 | 22 | 12 | 13 | 16 | 15 | -10 | ||||||
| 16. 13 + 14 + 15 = total financial resources | 155 | 116 | 157 | 144 | 150 | 131 | 167 | 174 | 163 | 136 | ||||||
| 17. Use of financial resources | 155 | 116 | 157 | 144 | 150 | 131 | 167 | 174 | 163 | 136 | ||||||
| 18. Investment | 107 | 112 | 100 | 106 | 116 | 132 | 131 | 130 | 139 | 136 | ||||||
| 19. Stocks | 36 | 6 | 31 | 18 | 21 | – | 17 | 17 | 2 | 18 | ||||||
| 20. Financial assets | 12 | -2 | 26 | 20 | 13 | -1 | 19 | 27 | 22 | -18 | ||||||
Excluding the monetary sector.
Financial Position of Enterprises, 1980–89
(Including the monetary sector; in billions of koruny)
| 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 19891 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Output | 1,165 | 1,220 | 1,295 | 1,332 | 1,450 | 1,497 | 1,552 | 1,595 | 1,627 | 1,621 | ||||||
| Of which: Price subsidies | 15 | 22 | 17 | 18 | 22 | 21 | 20 | 20 | 22 | 33 | ||||||
| 2. Costs | 1,058 | 1,115 | 1,187 | 1,211 | 1,321 | 1,363 | 1,414 | 1,452 | 1,477 | 1,513 | ||||||
| Of which: | ||||||||||||||||
| Material costs | 747 | 796 | 857 | 872 | 963 | 995 | 1,018 | 1,039 | 1,049 | 1,036 | ||||||
| Of which: | ||||||||||||||||
| Depreciation | 57 | 62 | 65 | 68 | 72 | 77 | 80 | 84 | 89 | 90 | ||||||
| Of which: | ||||||||||||||||
| Tax | 8 | 10 | 11 | 14 | 15 | 14 | 22 | 22 | 22 | 10 | ||||||
| Nonmaterial costs | 24 | 25 | 26 | 28 | 29 | 31 | 33 | 34 | 37 | 37 | ||||||
| Wage costs | 186 | 193 | 198 | 203 | 208 | 213 | 218 | 223 | 228 | 225 | ||||||
| Wage tax | 30 | 31 | 32 | 37 | 38 | 39 | 40 | 44 | 49 | 108 | ||||||
| Interest payments | 25 | 26 | 26 | 27 | 27 | 28 | 28 | 28 | 28 | 31 | ||||||
| Other | 46 | 44 | 48 | 44 | 56 | 57 | 77 | 84 | 86 | 76 | ||||||
| 3. 1 – 2 = gross profit | 107 | 105 | 108 | 121 | 129 | 134 | 138 | 143 | 150 | 108 | ||||||
| 4. Price differences on foreign trade | 1 | – | – | 1 | 13 | 20 | 19 | 21 | 21 | 23 | ||||||
| 5. Extraordinary receipts | 23 | 19 | 21 | 22 | 23 | 23 | 21 | 20 | 20 | 3 | ||||||
| 6. 3 + 4 + 5 = total gross profit | 131 | 124 | 129 | 144 | 165 | 177 | 178 | 184 | 191 | 134 | ||||||
| 7. Subsidies other than price subsidies | 81 | 61 | 55 | 55 | 55 | 54 | 57 | 62 | 69 | 75 | ||||||
| 8. Profit taxes | 112 | 92 | 101 | 110 | 127 | 145 | 135 | 147 | 147 | 89 | ||||||
| 9. 6 + 7 - 8 = net profit after taxation | 100 | 93 | 83 | 89 | 93 | 86 | 100 | 99 | 113 | 120 | ||||||
| 10. Other resources | 17 | -4 | 41 | 19 | 6 | 3 | 24 | 23 | 2 | -16 | ||||||
| 11. 9 + 10 = profit for distribution | 117 | 89 | 124 | 108 | 99 | 89 | 124 | 122 | 115 | 104 | ||||||
| 12. Distributed profit | 44 | 39 | 39 | 32 | 28 | 33 | 28 | 26 | 34 | 38 | ||||||
| Of which: | ||||||||||||||||
| Wage fund | 8 | 6 | 6 | 7 | 8 | 8 | 7 | 8 | 10 | 15 | ||||||
| Fund for cultural and social needs | 4 | 4 | 4 | 4 | 4 | 5 | 6 | 6 | 6 | 6 | ||||||
| 13. 11 – 12 = retained earnings | 73 | 50 | 85 | 76 | 71 | 56 | 96 | 96 | 81 | 66 | ||||||
| 14. Depreciation after taxation | 49 | 52 | 54 | 54 | 57 | 63 | 58 | 62 | 67 | 80 | ||||||
| 15. Borrowing from banks | 33 | 14 | 18 | 14 | 22 | 12 | 13 | 16 | 15 | -10 | ||||||
| 16. 13 + 14 + 15 = total financial resources | 155 | 116 | 157 | 144 | 150 | 131 | 167 | 174 | 163 | 136 | ||||||
| 17. Use of financial resources | 155 | 116 | 157 | 144 | 150 | 131 | 167 | 174 | 163 | 136 | ||||||
| 18. Investment | 107 | 112 | 100 | 106 | 116 | 132 | 131 | 130 | 139 | 136 | ||||||
| 19. Stocks | 36 | 6 | 31 | 18 | 21 | – | 17 | 17 | 2 | 18 | ||||||
| 20. Financial assets | 12 | -2 | 26 | 20 | 13 | -1 | 19 | 27 | 22 | -18 | ||||||
Excluding the monetary sector.
Industrial Production, 1970–19891
In real terms, 1980 prices.
Industrial Production, 1970–19891
| 1988 | 1988 | 1970–75 | 1975–80 | 1980–85 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny. at current prices) | (Share in total industrial production) | (Annual percentage change, at constant 1980 prices) | ||||||||
| Fuel | 43.7 | 4.4 | 3.2 | 1.6 | -0.5 | -0.7 | -0.5 | 0.2 | -3.3 | |
| Power | 39.4 | 4.0 | 6.1 | 4.8 | 2.4 | 4.7 | 2.7 | 1.6 | 2.0 | |
| Iron metallurgy | 89.7 | 9.0 | 5.3 | 2.7 | 0.7 | 1.5 | 1.8 | 0.9 | 0.3 | |
| Nonferrous metals | 23.4 | 2.3 | 9.2 | 2.8 | 0.6 | 2.3 | 1.8 | 2.2 | 1.3 | |
| Chemicals and rubber | 135.1 | 13.5 | 10.0 | 5.6 | 2.5 | 4.0 | 3.2 | 2.0 | 0.2 | |
| Machinery | 219.1 | 22.0 | 1.7 | 6.6 | 4.8 | 4.4 | 3.3 | 2.3 | -0.8 | |
| Electrotechnical and metal works (including plastics) | 88.7 | 8.9 | … | 6.3 | 5.3 | 6.1 | 5.9 | 4.4 | 2.0 | |
| Construction parts | 34.2 | 3.4 | 6.6 | 4.3 | 0.7 | 2.2 | 2.2 | 3.9 | – | |
| Word processing | 29.1 | 2.9 | 7.4 | 5.8 | 2.4 | 3.0 | 2.5 | 2.5 | 0.3 | |
| Paper and cellulose | 19.3 | 1.9 | 6.9 | 4.1 | 3.9 | 1.2 | 4.6 | 3.3 | 2.7 | |
| Glass ceramics and porcelain | 12.7 | 1.3 | 6.8 | 4.5 | 2.4 | 2.6 | 0.9 | 6.7 | 6.3 | |
| Textiles | 42.6 | 4.3 | 5.9 | 3.5 | 2.0 | 2.5 | 1.7 | 2.2 | 1.4 | |
| Clothing | 13.3 | 1.3 | 5.3 | 3.5 | 2.3 | 1.6 | 1.5 | 2.3 | 4.4 | |
| Leather processing | 21.4 | 2.1 | 6.1 | 3.3 | 1.5 | 1.4 | -0.5 | 1.4 | 1.9 | |
| 5.8 | 0.6 | 4.1 | 3.8 | 2.4 | 3.8 | 1.8 | 3.6 | 1.7 | ||
| Food and beverages | 140.4 | 14.1 | 4.1 | 2.8 | 1.5 | 1.7 | 0.5 | 0.5 | 2.3 | |
| Frozen foods, spring water, and tobacco products | 4.6 | 0.5 | 10.5 | 1.8 | 2.1 | 5.0 | 4.8 | 2.3 | 4.4 | |
| Other | 35.4 | 3.6 | 8.8 | 4.8 | 2.3 | 2.1 | 2.7 | 2.3 | 3.7 | |
| Total gross output | 997.9 | 100.0 | 6.7 | 4.4 | 2.6 | 3.1 | 2.5 | 2.1 | 0.8 | |
In real terms, 1980 prices.
Industrial Production, 1970–19891
| 1988 | 1988 | 1970–75 | 1975–80 | 1980–85 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny. at current prices) | (Share in total industrial production) | (Annual percentage change, at constant 1980 prices) | ||||||||
| Fuel | 43.7 | 4.4 | 3.2 | 1.6 | -0.5 | -0.7 | -0.5 | 0.2 | -3.3 | |
| Power | 39.4 | 4.0 | 6.1 | 4.8 | 2.4 | 4.7 | 2.7 | 1.6 | 2.0 | |
| Iron metallurgy | 89.7 | 9.0 | 5.3 | 2.7 | 0.7 | 1.5 | 1.8 | 0.9 | 0.3 | |
| Nonferrous metals | 23.4 | 2.3 | 9.2 | 2.8 | 0.6 | 2.3 | 1.8 | 2.2 | 1.3 | |
| Chemicals and rubber | 135.1 | 13.5 | 10.0 | 5.6 | 2.5 | 4.0 | 3.2 | 2.0 | 0.2 | |
| Machinery | 219.1 | 22.0 | 1.7 | 6.6 | 4.8 | 4.4 | 3.3 | 2.3 | -0.8 | |
| Electrotechnical and metal works (including plastics) | 88.7 | 8.9 | … | 6.3 | 5.3 | 6.1 | 5.9 | 4.4 | 2.0 | |
| Construction parts | 34.2 | 3.4 | 6.6 | 4.3 | 0.7 | 2.2 | 2.2 | 3.9 | – | |
| Word processing | 29.1 | 2.9 | 7.4 | 5.8 | 2.4 | 3.0 | 2.5 | 2.5 | 0.3 | |
| Paper and cellulose | 19.3 | 1.9 | 6.9 | 4.1 | 3.9 | 1.2 | 4.6 | 3.3 | 2.7 | |
| Glass ceramics and porcelain | 12.7 | 1.3 | 6.8 | 4.5 | 2.4 | 2.6 | 0.9 | 6.7 | 6.3 | |
| Textiles | 42.6 | 4.3 | 5.9 | 3.5 | 2.0 | 2.5 | 1.7 | 2.2 | 1.4 | |
| Clothing | 13.3 | 1.3 | 5.3 | 3.5 | 2.3 | 1.6 | 1.5 | 2.3 | 4.4 | |
| Leather processing | 21.4 | 2.1 | 6.1 | 3.3 | 1.5 | 1.4 | -0.5 | 1.4 | 1.9 | |
| 5.8 | 0.6 | 4.1 | 3.8 | 2.4 | 3.8 | 1.8 | 3.6 | 1.7 | ||
| Food and beverages | 140.4 | 14.1 | 4.1 | 2.8 | 1.5 | 1.7 | 0.5 | 0.5 | 2.3 | |
| Frozen foods, spring water, and tobacco products | 4.6 | 0.5 | 10.5 | 1.8 | 2.1 | 5.0 | 4.8 | 2.3 | 4.4 | |
| Other | 35.4 | 3.6 | 8.8 | 4.8 | 2.3 | 2.1 | 2.7 | 2.3 | 3.7 | |
| Total gross output | 997.9 | 100.0 | 6.7 | 4.4 | 2.6 | 3.1 | 2.5 | 2.1 | 0.8 | |
In real terms, 1980 prices.
Agricultural Production, 1970–89
Agricultural Production, 1970–89
| 1988 | 1988 | 1970–75 | 1975–80 | 1980–85 | 1986 | 1987 | 1988 | 1989 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny, at current prices) | (Share in total agricultural production) | (Annual percentage change, at constant 1980 prices) | |||||||||||
| Total gross agricultural production | 146.9 | 100.0 | 2.2 | 1.9 | 1.8 | 0.5 | 1.0 | 2.9 | 1.0 | ||||
| Crop production | 68.7 | 46.8 | 1.5 | 1.5 | 2.5 | -2.6 | 1.9 | 3.9 | 0.2 | ||||
| Of which; | |||||||||||||
| Grains | 23.3 | 15.9 | 5.4 | 2.9 | 2.2 | -7.5 | 8.6 | 1.5 | 0.5 | ||||
| Fodder and root crops | 17.2 | 11.7 | — | 1.4 | 3.6 | -4.1 | 2.6 | -4.2 | — | ||||
| Potatoes | 6.5 | 4.4 | -5.6 | -5.6 | 4.7 | 2.9 | -11.4 | 19.4 | -16.2 | ||||
| Vegetables | 5.1 | 3.5 | -0.7 | -2.2 | 1.6 | — | 11.1 | -6.7 | 3.6 | ||||
| Animal production | 78.3 | 53.3 | 2.8 | 2.1 | 1.3 | 3.0 | 0.3 | 2.1 | 1.6 | ||||
| Of which: | |||||||||||||
| Livestock for slaughter | 35.0 | 23.8 | 4.3 | 1.7 | 0.9 | 0.7 | 1.6 | 2.6 | 1.3 | ||||
| Of which: | |||||||||||||
| Cattle | 15.1 | 10.3 | 4.9 | 0.9 | 1.4 | 0.7 | 0.7 | -1.4 | 0.7 | ||||
| Pigs | 19.1 | 13.0 | 5.0 | 3.0 | — | 1.3 | 3.3 | 7.6 | 0.6 | ||||
| Milk | 26.8 | 18.2 | 2.7 | 1.5 | 3.2 | 1.9 | -1.4 | 0.5 | 2.8 | ||||
| Eggs | 5.4 | 3.7 | 2.7 | 1.5 | 2.6 | — | — | — | 2.0 | ||||
Agricultural Production, 1970–89
| 1988 | 1988 | 1970–75 | 1975–80 | 1980–85 | 1986 | 1987 | 1988 | 1989 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny, at current prices) | (Share in total agricultural production) | (Annual percentage change, at constant 1980 prices) | |||||||||||
| Total gross agricultural production | 146.9 | 100.0 | 2.2 | 1.9 | 1.8 | 0.5 | 1.0 | 2.9 | 1.0 | ||||
| Crop production | 68.7 | 46.8 | 1.5 | 1.5 | 2.5 | -2.6 | 1.9 | 3.9 | 0.2 | ||||
| Of which; | |||||||||||||
| Grains | 23.3 | 15.9 | 5.4 | 2.9 | 2.2 | -7.5 | 8.6 | 1.5 | 0.5 | ||||
| Fodder and root crops | 17.2 | 11.7 | — | 1.4 | 3.6 | -4.1 | 2.6 | -4.2 | — | ||||
| Potatoes | 6.5 | 4.4 | -5.6 | -5.6 | 4.7 | 2.9 | -11.4 | 19.4 | -16.2 | ||||
| Vegetables | 5.1 | 3.5 | -0.7 | -2.2 | 1.6 | — | 11.1 | -6.7 | 3.6 | ||||
| Animal production | 78.3 | 53.3 | 2.8 | 2.1 | 1.3 | 3.0 | 0.3 | 2.1 | 1.6 | ||||
| Of which: | |||||||||||||
| Livestock for slaughter | 35.0 | 23.8 | 4.3 | 1.7 | 0.9 | 0.7 | 1.6 | 2.6 | 1.3 | ||||
| Of which: | |||||||||||||
| Cattle | 15.1 | 10.3 | 4.9 | 0.9 | 1.4 | 0.7 | 0.7 | -1.4 | 0.7 | ||||
| Pigs | 19.1 | 13.0 | 5.0 | 3.0 | — | 1.3 | 3.3 | 7.6 | 0.6 | ||||
| Milk | 26.8 | 18.2 | 2.7 | 1.5 | 3.2 | 1.9 | -1.4 | 0.5 | 2.8 | ||||
| Eggs | 5.4 | 3.7 | 2.7 | 1.5 | 2.6 | — | — | — | 2.0 | ||||
Energy Balance, 1970–89
(In millions of tons of coal equivalent)
Includes, among other things, energy used in the energy industry, energy used in public heating stations, and transmission and other losses.
Energy Balance, 1970–89
(In millions of tons of coal equivalent)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Primary domestic sources | 64.9 | 65.4 | 68.9 | 67.9 | 68.2 | 69.8 | 70.5 | 71.5 | 73.2 | 74.8 | 74.4 | 73.1 | |||
| Coal | 61.8 | 62.5 | 64.3 | 63.4 | 63.4 | 64.8 | 64.9 | 63.8 | 63.2 | 63.1 | 62.2 | 60.5 | |||
| Other solid fuels | 0.9 | 0.9 | 1.2 | 1.0 | 1.1 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | |||
| Liquid fuel | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |||
| Other (excluding hydro and nuclear-generated electricity) | 1.9 | 1.8 | 3.3 | 3.4 | 3.6 | 3.7 | 4.2 | 6.1 | 8.4 | 10.1 | 10.6 | 11.0 | |||
| Imports | 22.0 | 33.3 | 41.9 | 40.6 | 39.5 | 39.9 | 40.7 | 41.1 | 42.5 | 42.1 | 42.7 | 43.6 | |||
| Liquid fuel | 15.3 | 23.7 | 28.1 | 27.1 | 24.9 | 24.7 | 24.5 | 24.5 | 24.9 | 25.1 | 24.6 | 24.3 | |||
| From CMEA | 15.3 | 23.7 | 27.8 | 16.7 | 24.8 | 24.7 | 24.4 | 24.4 | 24.9 | 25.1 | 24.6 | 24.3 | |||
| From other countries | … | … | 0.3 | 0.4 | 0.1 | — | 0.1 | 0.1 | — | — | — | — | |||
| Gas | 1.5 | 4.1 | 8.7 | 9.0 | 9.4 | 10.0 | 11.2 | 11.3 | 12.4 | 12.9 | 12.9 | 14.2 | |||
| From CMEA | 1.5 | 4.1 | 8.7 | 9.0 | 9.4 | 10.0 | 11.2 | 11.3 | 12.4 | 12.9 | 12.9 | 14.2 | |||
| From other countries | — | — | — | — | — | — | — | — | — | — | — | — | |||
| Other primary energy imports | 5.2 | 5.5 | 5.1 | 4.5 | 5.1 | 5.2 | 5.0 | 5.2 | 5.2 | 4.1 | 5.2 | 5.1 | |||
| Exports | 6.7 | 6.9 | 7.7 | 6.7 | 6.5 | 7.1 | 7.0 | 7.1 | 7.0 | 7.3 | 7.6 | 8.1 | |||
| Liquid fuels | 0.9 | 0.4 | 1.4 | 1.1 | 1.1 | 1.5 | 1.4 | 1.5 | 2.0 | 2.3 | 2.7 | 2.7 | |||
| Gas | — | — | — | — | — | 0.3 | 0.5 | 0.6 | 0.4 | 0.7 | 0.7 | 0.7 | |||
| Solid fuels | 5.8 | 6.5 | 6.3 | 5.6 | 5.4 | 5.3 | 5.1 | 5.0 | 4.6 | 4.3 | 4.2 | 4.7 | |||
| Change in stocks | -0.6 | 0.3 | -0.3 | 0.1 | -0.2 | 0.1 | -0.4 | 1.0 | -0.5 | -0.5 | -1.3 | -1.5 | |||
| Domestic use of primary energy | 79.6 | 92.1 | 102.8 | 101.9 | 101.0 | 102.5 | 103.8 | 106.5 | 108.2 | 109.1 | 108.2 | 107.1 | |||
| For electricity generation by steam (excluding hydro-and nuclear power) | 16.9 | 21.3 | 23.7 | 24.0 | 24.1 | 24.5 | 25.0 | 23.6 | 23.0 | 21.5 | 21.5 | … | |||
| By industry | 29.5 | 34.0 | 36.2 | 36.2 | 35.5 | 36.0 | 35.8 | 36.5 | 36.2 | 36.4 | 35.7 | … | |||
| By agriculture | 2.2 | 3.2 | 3.7 | 3.7 | 3.5 | 3.5 | 3.6 | 3.8 | 3.8 | 4.0 | 3.9 | … | |||
| By households | 9.5 | 11.0 | 13.2 | 13.0 | 13.2 | 13.5 | 13.7 | 14.6 | 14.9 | 15.4 | 15.6 | … | |||
| For other purposes1 | 21.5 | 22.6 | 26.0 | 25.0 | 24.7 | 25.0 | 25.7 | 28.0 | 30.3 | 31.8 | 31.5 | … | |||
Includes, among other things, energy used in the energy industry, energy used in public heating stations, and transmission and other losses.
Energy Balance, 1970–89
(In millions of tons of coal equivalent)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Primary domestic sources | 64.9 | 65.4 | 68.9 | 67.9 | 68.2 | 69.8 | 70.5 | 71.5 | 73.2 | 74.8 | 74.4 | 73.1 | |||
| Coal | 61.8 | 62.5 | 64.3 | 63.4 | 63.4 | 64.8 | 64.9 | 63.8 | 63.2 | 63.1 | 62.2 | 60.5 | |||
| Other solid fuels | 0.9 | 0.9 | 1.2 | 1.0 | 1.1 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | |||
| Liquid fuel | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | |||
| Other (excluding hydro and nuclear-generated electricity) | 1.9 | 1.8 | 3.3 | 3.4 | 3.6 | 3.7 | 4.2 | 6.1 | 8.4 | 10.1 | 10.6 | 11.0 | |||
| Imports | 22.0 | 33.3 | 41.9 | 40.6 | 39.5 | 39.9 | 40.7 | 41.1 | 42.5 | 42.1 | 42.7 | 43.6 | |||
| Liquid fuel | 15.3 | 23.7 | 28.1 | 27.1 | 24.9 | 24.7 | 24.5 | 24.5 | 24.9 | 25.1 | 24.6 | 24.3 | |||
| From CMEA | 15.3 | 23.7 | 27.8 | 16.7 | 24.8 | 24.7 | 24.4 | 24.4 | 24.9 | 25.1 | 24.6 | 24.3 | |||
| From other countries | … | … | 0.3 | 0.4 | 0.1 | — | 0.1 | 0.1 | — | — | — | — | |||
| Gas | 1.5 | 4.1 | 8.7 | 9.0 | 9.4 | 10.0 | 11.2 | 11.3 | 12.4 | 12.9 | 12.9 | 14.2 | |||
| From CMEA | 1.5 | 4.1 | 8.7 | 9.0 | 9.4 | 10.0 | 11.2 | 11.3 | 12.4 | 12.9 | 12.9 | 14.2 | |||
| From other countries | — | — | — | — | — | — | — | — | — | — | — | — | |||
| Other primary energy imports | 5.2 | 5.5 | 5.1 | 4.5 | 5.1 | 5.2 | 5.0 | 5.2 | 5.2 | 4.1 | 5.2 | 5.1 | |||
| Exports | 6.7 | 6.9 | 7.7 | 6.7 | 6.5 | 7.1 | 7.0 | 7.1 | 7.0 | 7.3 | 7.6 | 8.1 | |||
| Liquid fuels | 0.9 | 0.4 | 1.4 | 1.1 | 1.1 | 1.5 | 1.4 | 1.5 | 2.0 | 2.3 | 2.7 | 2.7 | |||
| Gas | — | — | — | — | — | 0.3 | 0.5 | 0.6 | 0.4 | 0.7 | 0.7 | 0.7 | |||
| Solid fuels | 5.8 | 6.5 | 6.3 | 5.6 | 5.4 | 5.3 | 5.1 | 5.0 | 4.6 | 4.3 | 4.2 | 4.7 | |||
| Change in stocks | -0.6 | 0.3 | -0.3 | 0.1 | -0.2 | 0.1 | -0.4 | 1.0 | -0.5 | -0.5 | -1.3 | -1.5 | |||
| Domestic use of primary energy | 79.6 | 92.1 | 102.8 | 101.9 | 101.0 | 102.5 | 103.8 | 106.5 | 108.2 | 109.1 | 108.2 | 107.1 | |||
| For electricity generation by steam (excluding hydro-and nuclear power) | 16.9 | 21.3 | 23.7 | 24.0 | 24.1 | 24.5 | 25.0 | 23.6 | 23.0 | 21.5 | 21.5 | … | |||
| By industry | 29.5 | 34.0 | 36.2 | 36.2 | 35.5 | 36.0 | 35.8 | 36.5 | 36.2 | 36.4 | 35.7 | … | |||
| By agriculture | 2.2 | 3.2 | 3.7 | 3.7 | 3.5 | 3.5 | 3.6 | 3.8 | 3.8 | 4.0 | 3.9 | … | |||
| By households | 9.5 | 11.0 | 13.2 | 13.0 | 13.2 | 13.5 | 13.7 | 14.6 | 14.9 | 15.4 | 15.6 | … | |||
| For other purposes1 | 21.5 | 22.6 | 26.0 | 25.0 | 24.7 | 25.0 | 25.7 | 28.0 | 30.3 | 31.8 | 31.5 | … | |||
Includes, among other things, energy used in the energy industry, energy used in public heating stations, and transmission and other losses.
Construction and Housing, 1970–891
For 1970–75, 1967 constant price data was used; for 1975–80 and 1980–85, 1977 constant price data was used: and for later years, 1984 constant price data was used.
These figures represent net output of construction activity in all sectors and are not comparable with those of Table 4 because of certain differences in classification.
Construction and Housing, 1970–891
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny, at current prices) | |||||||||||||
| Net output of the construction sector2 | 60.4 | 86.0 | 87.7 | 85.4 | 89.1 | 90.3 | 96.0 | 98.1 | 96.4 | 94.8 | 98.0 | 97.2 | |
| (In percent of total construction sector output) | |||||||||||||
| Private housing | 6.5 | 7.2 | 7.3 | 7.7 | 7.7 | 7.5 | 6.9 | 6.0 | 5.7 | 5.9 | 6.8 | … | |
| Other residential construction | 17.8 | 14.9 | 13.5 | 11.8 | 12.3 | 12.1 | 11.9 | 13.7 | 11.9 | 12.3 | 12.4 | … | |
| Industrial and commercial construction | 49.1 | 51.5 | 52.8 | 54.3 | 54.4 | 52.9 | 53.0 | 52.3 | 54.2 | 54.6 | 53.5 | … | |
| Roads and infrastructure | 26.6 | 26.4 | 26.4 | 26.2 | 25.6 | 27.5 | 28.2 | 28.1 | 28.2 | 27.2 | 27.2 | … | |
| (Thousands of units) | |||||||||||||
| Dwellings completed | 112.1 | 144.7 | 128.9 | 95.4 | 101.8 | 95.9 | 91.9 | 104.5 | 78.7 | 79.6 | 82.9 | 88.5 | |
| (In percent of total number of units completed) | |||||||||||||
| Private | 26.2 | 26.7 | 25.1 | 30.8 | 29.6 | 30.3 | 31.6 | 28.3 | 31.3 | 31.2 | 29.4 | 30.3 | |
| Municipal | 16.8 | 22.7 | 22.3 | 19.8 | 21.4 | 19.8 | 18.7 | 20.0 | 21.6 | 24.1 | 25.9 | 27.5 | |
| Cooperatives | 39.5 | 27.0 | 35.7 | 35.2 | 41.3 | 46.9 | 47.4 | 47.8 | 44.8 | 42.0 | 42.7 | 41.3 | |
| Business | 17.5 | 29.6 | 16.9 | 14.2 | 7.8 | 3.0 | 2.4 | 3.9 | 2.3 | 2.7 | 1.9 | 0.9 | |
| (In koruny) | |||||||||||||
| Average monthly rent | |||||||||||||
| State owned | 106 | 117 | 130 | 132 | 134 | 135 | 137 | 140 | 143 | 146 | 149 | … | |
| Cooperative | 151 | 200 | 243 | 248 | 254 | 258 | 268 | 273 | 274 | 243 | 287 | … | |
| Enterprise owned | 100 | 132 | 173 | 185 | 196 | 197 | 189 | 188 | 196 | 203 | 202 | … | |
For 1970–75, 1967 constant price data was used; for 1975–80 and 1980–85, 1977 constant price data was used: and for later years, 1984 constant price data was used.
These figures represent net output of construction activity in all sectors and are not comparable with those of Table 4 because of certain differences in classification.
Construction and Housing, 1970–891
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In billions of koruny, at current prices) | |||||||||||||
| Net output of the construction sector2 | 60.4 | 86.0 | 87.7 | 85.4 | 89.1 | 90.3 | 96.0 | 98.1 | 96.4 | 94.8 | 98.0 | 97.2 | |
| (In percent of total construction sector output) | |||||||||||||
| Private housing | 6.5 | 7.2 | 7.3 | 7.7 | 7.7 | 7.5 | 6.9 | 6.0 | 5.7 | 5.9 | 6.8 | … | |
| Other residential construction | 17.8 | 14.9 | 13.5 | 11.8 | 12.3 | 12.1 | 11.9 | 13.7 | 11.9 | 12.3 | 12.4 | … | |
| Industrial and commercial construction | 49.1 | 51.5 | 52.8 | 54.3 | 54.4 | 52.9 | 53.0 | 52.3 | 54.2 | 54.6 | 53.5 | … | |
| Roads and infrastructure | 26.6 | 26.4 | 26.4 | 26.2 | 25.6 | 27.5 | 28.2 | 28.1 | 28.2 | 27.2 | 27.2 | … | |
| (Thousands of units) | |||||||||||||
| Dwellings completed | 112.1 | 144.7 | 128.9 | 95.4 | 101.8 | 95.9 | 91.9 | 104.5 | 78.7 | 79.6 | 82.9 | 88.5 | |
| (In percent of total number of units completed) | |||||||||||||
| Private | 26.2 | 26.7 | 25.1 | 30.8 | 29.6 | 30.3 | 31.6 | 28.3 | 31.3 | 31.2 | 29.4 | 30.3 | |
| Municipal | 16.8 | 22.7 | 22.3 | 19.8 | 21.4 | 19.8 | 18.7 | 20.0 | 21.6 | 24.1 | 25.9 | 27.5 | |
| Cooperatives | 39.5 | 27.0 | 35.7 | 35.2 | 41.3 | 46.9 | 47.4 | 47.8 | 44.8 | 42.0 | 42.7 | 41.3 | |
| Business | 17.5 | 29.6 | 16.9 | 14.2 | 7.8 | 3.0 | 2.4 | 3.9 | 2.3 | 2.7 | 1.9 | 0.9 | |
| (In koruny) | |||||||||||||
| Average monthly rent | |||||||||||||
| State owned | 106 | 117 | 130 | 132 | 134 | 135 | 137 | 140 | 143 | 146 | 149 | … | |
| Cooperative | 151 | 200 | 243 | 248 | 254 | 258 | 268 | 273 | 274 | 243 | 287 | … | |
| Enterprise owned | 100 | 132 | 173 | 185 | 196 | 197 | 189 | 188 | 196 | 203 | 202 | … | |
For 1970–75, 1967 constant price data was used; for 1975–80 and 1980–85, 1977 constant price data was used: and for later years, 1984 constant price data was used.
These figures represent net output of construction activity in all sectors and are not comparable with those of Table 4 because of certain differences in classification.
Employment by Sector, 1970–1989
(In thousands, yearly average)
Excluding trainees and women on maternity leave.
Excluding agricultural cooperatives JZDs.
Manufacturing only.
Excluding meal-breaks.
Employment by Sector, 1970–1989
(In thousands, yearly average)
| 1970 | 1975 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 Preliminary | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total employment1 | 6,871 | 7,060 | 7,358 | 7,407 | 7,435 | 7,466 | 7,534 | 7,606 | 7,705 | 7,754 | 7,804 | 7,833 | ||
| Material sphere | 5,425 | 5,508 | 5,612 | 5,631 | 5,636 | 5,657 | 5,694 | 5,728 | 5,788 | 5,817 | 5,824 | 5,824 | ||
| Agriculture | 1,178 | 978 | 896 | 894 | 883 | 865 | 867 | 865 | 861 | 853 | 839 | 817 | ||
| Industry | 2,601 | 2,693 | 2,761 | 2,778 | 2,791 | 2,809 | 2,822 | 2,840 | 2,879 | 2,898 | 2,908 | 2,916 | ||
| Construction | 554 | 637 | 659 | 650 | 644 | 645 | 653 | 657 | 679 | 690 | 694 | 699 | ||
| Other | 1,095 | 1,200 | 1,296 | 1,309 | 1,318 | 1,338 | 1,352 | 1,366 | 1,369 | 1,376 | 1,383 | 1,392 | ||
| Nonmaterial sphere | 1,446 | 1,552 | 1,746 | 1,776 | 1,799 | 1,809 | 1,840 | 1,878 | 1,917 | 1,937 | 1,980 | 2,009 | ||
| Education | 327 | 359 | 400 | 408 | 415 | 422 | 433 | 442 | 455 | 461 | 472 | 482 | ||
| Health | 225 | 266 | 294 | 301 | 306 | 314 | 319 | 326 | 330 | 334 | 342 | 349 | ||
| Transport passenger | 153 | 150 | 159 | 158 | 159 | 150 | 151 | 152 | 156 | 156 | 157 | 158 | ||
| Science, research, and development | 153 | 158 | 168 | 165 | 168 | 168 | 171 | 175 | 177 | 179 | 181 | 183 | ||
| Other | 588 | 619 | 725 | 744 | 751 | 755 | 766 | 783 | 799 | 807 | 828 | 837 | ||
| Memorandum items: | ||||||||||||||
| Women in work force In percent | 45.5 | 45.4 | 45.4 | 45.6 | 45.7 | 45.8 | 46.0 | 46.1 | 46.0 | 46.1 | 46.0 | 46.0 | ||
| Workers in the socialist sector In percent2 | 86.0 | 88.7 | 90.2 | 90.3 | 90.4 | 90.6 | 90.6 | 90.6 | 90.3 | 90.3 | 90.2 | 89.8 | ||
| Average number of hours worked per week3 | 43.8 | 43.6 | 43.5 | 43.3 | 43.1 | 43.1 | 43.0 | 43.1 | 43.1 | 43.1 | 43.0 | 40.64 | ||
Excluding trainees and women on maternity leave.
Excluding agricultural cooperatives JZDs.
Manufacturing only.
Excluding meal-breaks.