Cyprus Cyprus vs Czechia Czechia development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Czechia
Czechia, Value
Cyprus
Cyprus, Rank
Czechia
Czechia, Rank
Cyprus Cyprus as % of
Czechia Czechia
Current account balance (% of GDP) -8.39 1.75 100 43
Exports of goods and services (% of GDP) 96.7 69.2 7 25 140 %
GDP per capita (current US$) 38,654 31,707 32 40 122 %
GDP per capita, PPP (current international US$) 61,240 56,806 29 33 108 %
Imports of goods and services (% of GDP) 93.1 62.7 10 31 149 %
Inflation, consumer prices (annual %) 1.8 2.44 117 98 73.9 %
Net migration 8,138 -86,169 48 198
Population, total 1,358,282 10,882,164 157 86 12.5 %

Demography and Health

In terms of demography, Cyprus has a population of approximately 1.4 million, while Czechia boasts a significantly larger population of about 10.9 million. The birth rate in Cyprus is 10.8 per 1,000 people, surpassing Czechia's 8.4, indicating a more dynamic population growth in Cyprus. Conversely, Cyprus has a lower crude death rate of 7.1 compared to Czechia’s 10.4, suggesting better overall health outcomes. Life expectancy at birth in Cyprus is higher at 81.6 years, compared to 79.9 years in Czechia. This reflects a generally healthier population in Cyprus, although the under-5 mortality rate is higher at 3.5 per 1,000 live births versus Czechia's 2.6. Additionally, both countries have a prevalence of undernourishment at 2.5%, indicating food security. Cyprus shows a more concerning picture with a suicide mortality rate of 3 per 100,000 people compared to Czechia's higher rate of 13.3, showcasing a significant public health issue.

Economy

Cypress exhibits a higher GDP per capita (current US$) at 38,654 compared to Czechia's 31,707, placing Cyprus at rank 45 while Czechia ranks 57. In terms of GDP per capita adjusted for purchasing power parity (PPP), Cyprus again comes out ahead, with a value of 61,240 against Czechia's 56,806. The economic activity is highly export-oriented in Cyprus, with exports of goods and services constituting 96.7% of GDP versus 69.2% in Czechia. However, Cyprus struggles with a current account balance of -8.4% of GDP, contrasting with Czechia's positive balance of 1.8%. Inflation rates are lower in Cyprus at 1.8% compared to Czechia's 2.4%. Furthermore, Cyprus faces higher unemployment rates (5.8%) compared to Czechia (2.6%), indicating challenges in the labor market.

Trade and Investment

Cyprus is distinctly characterized by its reliance on trade, reflected in its high export-to-GDP ratio of 96.7%, significantly higher than the 69.2% in Czechia. The imports also follow a similar trend, where Cyprus stands at 93.1% of GDP, compared to Czechia's 62.7%. This propensity for external trade can be a double-edged sword, exposing Cyprus to global market fluctuations. Czechia, with a more balanced economy, showcases a more stable trade framework, but it still benefits from consistent foreign direct investments, largely due to its central positioning in Europe and developed industrial base.

Governance and Institutions

When examining governance, Czechia outperforms Cyprus in various metrics. The control of corruption index reveals Czechia scoring 0.8 vs. Cyprus at 0.3, indicating stronger anti-corruption measures. Government effectiveness is likewise better in Czechia (1.1) compared to Cyprus (0.7). Czechia's rule of law and regulatory quality also rank higher than Cyprus, with scores of 1.1 and 1.3 respectively, compared to Cyprus's 0.6 and 0.8. Notably, political stability and absence of violence score significantly in Czechia at 1.0, while Cyprus scores 0.4, indicating more significant risks within Cyprus. However, military expenditure in Cyprus is lower at 566.9 million USD compared to Czechia’s 5.1 billion, which reflects differences in defense policies and regional security perceptions.

Infrastructure and Technology

Czechia demonstrates greater technological readiness with a logistics performance index of 3.0 compared to Cyprus's 2.8, indicating superior quality in trade and transport-related infrastructure. Internet usage in Cyprus is notably high at 91.2%, surpassing Czechia's 86%. This suggests that the Cypriot population is more integrated with digital technologies. However, Cyprus has a lower research and development expenditure, standing at 0.7% of GDP whereas the higher investment at 2% in Czechia supports innovation and technological advancement, which could favor long-term economic growth.

Environment and Sustainability

In environmental metrics, Cyprus shows a higher level of water stress, with freshwater withdrawal accounting for 32.1% of its available resources, while Czechia's is markedly lower at 20.5%. Both countries have a similar renewable energy consumption percentage, with Cyprus at 15.6% and Czechia at 17.2%. Cyprus emits less greenhouse gases per capita (7.7 metric tons CO2e) compared to Czechia (10.5), suggesting more sustainable practices in energy or industrial activities. These environmental indicators point towards varying levels of sustainability practices and challenges facing both nations, especially concerning water resources management in Cyprus.