Austria vs Czechia development indicators, 2024

Indicator	Austria, Value	Czechia, Value	Austria, Rank	Czechia, Rank	Austria as % of Czechia
Current account balance (% of GDP)	2.42	1.75	36	43	138 %
Exports of goods and services (% of GDP)	56.9	69.2	31	25	82.2 %
Foreign direct investment, net inflows (% of GDP)	1.78	3.78	62	31	47.2 %
GDP per capita (current US$)	56,833	31,707	15	40	179 %
GDP per capita, PPP (current international US$)	71,618	56,806	20	33	126 %
Imports of goods and services (% of GDP)	53.6	62.7	48	31	85.5 %
Inflation, consumer prices (annual %)	2.94	2.44	82	98	121 %
Net migration	8,813	-86,169	47	198
Population, total	9,178,482	10,882,164	98	86	84.3 %

Demography and Health

Austria and Czechia present interesting demographic profiles. Austria's crude birth rate stands at 8.5 per 1,000 people, slightly higher than Czechia's 8.4, which puts both countries close in this regard with Austria ranked 50th and Czechia 53rd globally. However, the death rate in Austria (9.8 per 1,000) is lower than that of Czechia (10.4), making Austria rank 54th compared to Czechia's 45th. Life expectancy in Austria is notably higher at 81.5 years versus 79.9 years in Czechia. Child mortality indicators show Austria with a rate of 3.1 deaths per 1,000 live births, while Czechia has a better performance at 2.6. In terms of health expenditure, Austria spends 10.9% of its GDP, significantly more than Czechia's 8.5%, indicating a stronger commitment to health services. Both countries have similar undernourishment rates at 2.5%, reflecting a commitment to food security.

Economy

The economic comparison highlights a stark contrast between the two nations. Austria boasts a GDP per capita of $56,833, significantly overshadowing Czechia's $31,707, placing Austria 19th in the global rankings while Czechia ranks 57th. In terms of purchasing power parity (PPP), Austria again leads with $71,618 compared to Czechia’s $56,806. The inflation rate in Austria is presently at 2.9%, a bit higher than Czechia's 2.4%, indicating more price growth in Austria, which ranks 73rd against Czechia's 85th. Although both countries see significant trade activity, Austria's exports account for 56.9% of its GDP, while Czechia leads with 69.2%, ranking 51st globally in exports. Import proportions reflect similarly, with Austria at 53.6% and Czechia at a higher 62.7%. The level of poverty is recorded at 14.8% in Austria compared to 10.2% in Czechia, suggesting that Czechia has a lower poverty ratio.

Trade and Investment

Czechia is noted for having a higher percentage of foreign direct investment net inflows at 3.8% of GDP compared to Austria's 1.8%. In terms of current account balance, Austria shows a surplus of 2.4% of GDP, better than Czechia's 1.8%. The logistics performance index indicates Austria performing better with a score of 3.9, which positions it at 7th globally, while Czechia's 3.0 places it at 24th. The strong inflow of investment into Czechia suggests a favorable business environment, particularly in manufacturing and services.

Governance and Institutions

In governance, Austria generally scores higher in various metrics. The control of corruption index gives Austria a score of 1.1, with a ranking of 33rd, while Czechia scores slightly lower at 0.8 (ranked 37th). Austria also scores higher in government effectiveness (1.3 vs. 1.1) and rule of law (1.7 vs. 1.1). Austria ranks 11th globally for rule of law, while Czechia ranks 35th. The political stability index shows Austria scoring 0.7 and Czechia scoring 1, indicating relative stability in governance. Austria appears to have a stronger institutional framework, although both nations demonstrate reasonable governance metrics.

Infrastructure and Technology

Austria's infrastructure and technology rankings are generally higher than those of Czechia. The logistics performance index of 3.9 in Austria shows a robust system for trade and transport-related infrastructure compared to a lower 3.0 in Czechia. Additionally, Austrian investment in research and development is impressive at 3.2% of GDP, placing it at 6th in the world, while Czechia's expenditure is 2%, landing it at 20th. This discrepancy indicates Austria’s stronger innovation and technological framework, which can significantly impact its economic resilience and growth.

Environment and Sustainability

Regarding environmental metrics, both countries face different challenges and achievements. Austria's renewable energy consumption is remarkably higher at 36% of total final energy consumption, making it rank 6th globally, while Czechia lags behind at 17.2%, with a ranking of 19th. However, Czechia faces more significant water stress, utilizing 20.5% of its available freshwater resources compared to Austria’s 8.7%, which is a strong indicator of sustainability practices. Greenhouse gas emissions per capita show Austria producing 8 tons of CO2e, which is lower than Czechia's 10.5 tons, indicating a better performance in terms of sustainability in Austria. Nevertheless, both nations face ongoing challenges regarding environmental sustainability and long-term climate goals.