The CIA World Factbook Every edition, 1990 to 1992 Europe
Economic overview Czechoslovakia, in 3 editions.
The entry for Czechoslovakia published Economic overview in 3 editions of 3, from 1990 to 1992. The text changed in 2 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 2
- the first edition with it
- 1990
- the latest edition with it
- 1992
Published as “Overview” (1990 to 1992).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
1992 edition
Rewritten since 1991Published as “Overview”
Czechoslovakia is highly industrialized and has a well-educated and skilled labor force. Its industry, transport, energy sources, banking, and most other means of production are state owned. The country is deficient, however, in energy and many raw materials. Moreover, its aging capital plant lags well behind West European standards. Industry contributes over 50% to GNP and construction 10%. About 95% of agricultural land is in collectives or state farms.
The centrally planned economy has been tightly linked in trade (80%) to the USSR and Eastern Europe. Growth has been sluggish, averaging less than 2% in the period 1982-89. GNP per capita ranks next to the GDR as the highest in the Communist countries. As in the rest of Eastern Europe, the sweeping political changes of 1989 have been disrupting normal channels of supply and compounding the government's economic problems. Czechoslovakia is beginning the difficult transition from a command to a market economy.
Czechoslovakia is highly industrialized and has a well-educated and skilled labor force. Its industry, transport, energy sources, banking, and most other means of production are state owned. The country is deficient, however, in energy and many raw materials. Moreover, its aging capital plant lags well behind West European standards. Industry contributes over 50% to GNP and construction 10%. About 95% of agricultural land is in collectives or state farms. The centrally planned economy has been tightly linked in trade (80%) to the USSR and Eastern Europe. Growth has been sluggish, averaging less than 2% in the period 1982-89. GNP per capita ranks next to the GDR as the highest in the Communist countries. As in the rest of Eastern Europe, the sweeping political changes of 1989 have been disrupting normal channels of supply and compounding the government's economic problems. Czechoslovakia is beginning the difficult transition from a command to a market economy.
Published as “Overview”
Czechoslovakia is highly industrialized and has a well-educated and skilled labor force. Its industry, transport, energy sources, banking, and most other means of production are state owned. The country is deficient, however, in energy and in many raw materials. Moreover, its aging capital plant lags well behind West European standards. Industry contributes almost 50% to GNP and construction contributes 10%. About 95% of agricultural land is in collectives or state farms.
The centrally planned economy has been tightly linked in trade (80%) to the USSR and Eastern Europe. Growth has been sluggish, averaging less than 2% in the period 1982-89. GNP per capita is the highest in Eastern Europe. As in the rest of Eastern Europe, the sweeping political changes of 1989-90 have been disrupting normal channels of supply and compounding the government's economic problems. Having eased restrictions on private enterprise in 1990 and having adjusted some key prices, Czechoslovakia is now implementing a broad two-year program to make the difficult transition from a command to a market economy. Inflation and unemployment are beginning to rise, albeit from comparatively low levels.
Czechoslovakia is highly industrialized and has a well-educated and skilled labor force. Its industry, transport, energy sources, banking, and most other means of production are state owned. The country is deficient, however, in energy and in many raw materials. Moreover, its aging capital plant lags well behind West European standards. Industry contributes over almost 50% to GNP and construction contributes 10%. About 95% of agricultural land is in collectives or state farms. The centrally planned economy has been tightly linked in trade (80%) to the USSR and Eastern Europe. Growth has been sluggish, averaging less than 2% in the period 1982-89. GNP per capita ranks next to the GDR as is the highest in the Communist countries. Eastern Europe. As in the rest of Eastern Europe, the sweeping political changes of 1989 1989-90 have been disrupting normal channels of supply and compounding the government's economic problems. Having eased restrictions on private enterprise in 1990 and having adjusted some key prices, Czechoslovakia is beginning now implementing a broad two-year program to make the difficult transition from a command to a market economy. Inflation and unemployment are beginning to rise, albeit from comparatively low levels.
Published as “Overview”
Czechoslovakia is highly industrialized by East European standards and has a well-educated and skilled labor force. GDP per capita has been the highest in Eastern Europe. Annual GDP growth slowed to less than 1 percent during the 1985-90 period. The country is deficient in energy and in many raw materials. Moreover, its aging capital plant lags well behind West European standards. In January 1991, Prague launched a sweeping program to convert its almost entirely state-owned and controlled economy to a market system.
The koruna now enjoys almost full internal convertibility and over 90% of prices are set by the market. The government is planning to privatize all small businesses and roughly two-thirds of large enterprises by the end of 1993. New private-sector activity is also expanding. Agriculture - 95% socialized - is to be privatized by the end of 1992. Reform has taken its
- toll on the economy:
- inflation was roughly 50% in 1991, unemployment was nearly 70%, and GDP dropped an estimated 15%. In 1992 the government is anticipating inflation of 10-15%, unemployment of 11-12%, and a drop in GDP of up to 8%. As of mid-1992, the nation appears to be splitting in two - into the industrial Czech area and the more agarian Slovak area.
Rewritten: too little of the 1991 text remains to mark the changes.
Czechoslovakia is highly industrialized by East European standards and has a
well-educated and skilled labor force. GDP per capita has been the highest
in Eastern Europe. Annual GDP growth slowed to less than 1 percent during
the 1985-90 period. The country is deficient in energy and in many raw
materials. Moreover, its aging capital plant lags well behind West European
standards. In January 1991, Prague launched a sweeping program to convert
its almost entirely state-owned and controlled economy to a market system.
The koruna now enjoys almost full internal convertibility and over 90% of
prices are set by the market. The government is planning to privatize all
small businesses and roughly two-thirds of large enterprises by the end of
1993. New private-sector activity is also expanding. Agriculture - 95%
socialized - is to be privatized by the end of 1992. Reform has taken its
toll on the economy: inflation was roughly 50% in 1991, unemployment was
nearly 70%, and GDP dropped an estimated 15%. In 1992 the government is
anticipating inflation of 10-15%, unemployment of 11-12%, and a drop in GDP
of up to 8%. As of mid-1992, the nation appears to be splitting in two -
into the industrial Czech area and the more agarian Slovak area.
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Cite this page
Central Intelligence Agency. “Czechoslovakia: Economic overview.” The World Factbook, 1990–1992 editions. Archived by The Factbook, thefactbook.org/czechoslovakia/economic-overview.