Czechia vs Finland development indicators, 2024

Indicator	Czechia, Value	Finland, Value	Czechia, Rank	Finland, Rank	Czechia as % of Finland
Current account balance (% of GDP)	1.75	0.31	43	50	565 %
Exports of goods and services (% of GDP)	69.2	41.6	25	59	167 %
Foreign direct investment, net inflows (% of GDP)	3.78	0.661	31	81	572 %
GDP per capita (current US$)	31,707	53,189	40	21	59.6 %
GDP per capita, PPP (current international US$)	56,806	64,091	33	27	88.6 %
Imports of goods and services (% of GDP)	62.7	40.9	31	70	153 %
Inflation, consumer prices (annual %)	2.44	1.57	98	125	156 %
Net migration	-86,169	26,894	198	32
Population, total	10,882,164	5,637,214	86	116	193 %

Demography and Health

Czechia has a total population of approximately 10.9 million, significantly larger than Finland's 5.6 million. The crude birth rate in Czechia is slightly higher at 8.4 per 1,000 people compared to Finland's 7.8, indicating a marginally more youthful population. However, the crude death rate is lower in Czechia at 10.4 compared to Finland's 11. This difference may reflect varied health systems or lifestyle factors. Life expectancy at birth is higher in Finland, at 81.7 years versus Czechia's 79.9 years, suggesting better overall health outcomes. Both countries have a similar prevalence of undernourishment at 2.5%, indicating food security is not a major issue in either. Czechia, with a child mortality rate of 2.6 per 1,000 live births, performs slightly worse than Finland’s 2.3, highlighting differences in maternal and child health services. The physician rate is comparable, with Czechia having 4.3 per 1,000 people versus Finland's 4.4. However, the suicide mortality rate is lower in Czechia (13.3 per 100,000) compared to Finland (14.6), reflecting regional mental health challenges.

Economy

Czechia's economy shows particular strength through its exports, which account for 69.2% of GDP, significantly higher than Finland's 41.6%. However, GDP per capita is lower in Czechia at $31,707 compared to Finland's $53,189. When adjusted for purchasing power parity (PPP), the gap narrows, with Czechia at $56,806 versus $64,091 for Finland. Czechia also exhibits higher inflation at 2.4%, while Finland's stands at a lower 1.6%, indicating more stable prices in Finland. Czechia has a slightly favorable current account balance of 1.8% compared to Finland’s 0.3%, implying a stronger position in dealing with external economic shocks. Foreign direct investment inflows to Czechia are also higher at 3.8% of GDP compared to only 0.7% in Finland, indicating a more inviting environment for foreign investors.

Trade and Investment

Czechia's economy relies heavily on trade, reflected in both exports and imports comprising larger proportions of its GDP (69.2% and 62.7% respectively) compared to Finland's 41.6% and 40.9%. This strong trade orientation may contribute to higher foreign investment attractiveness, as evidenced by Czechia's net inflows of 3.8% of GDP. In contrast, Finland’s investment environment appears less dynamic at only 0.7%. Czechia ranks higher in logistics performance (3.0) than Finland (4.2), suggesting better trade and transport-related infrastructure. Such disparity indicates potential bottlenecks in Finland’s trade efficiency.

Governance and Institutions

In governance and institutions, both countries perform well, but Finland outstrips Czechia in several indicators. Finland has a higher control of corruption score at 2.2, against Czechia's 0.8, indicating better management and lower corruption levels. Similarly, Finland ranks higher in government effectiveness (1.7 versus 1.1) and regulatory quality (1.8 versus 1.3). Nevertheless, Czechia performs well in indicators of political stability, with a score of 1.0 compared to Finland's 0.7, which may speak to differing security environments. Finland shows stronger adherence to the rule of law, scoring 2.0 against Czechia's 1.1, highlighting a robust legal framework.

Infrastructure and Technology

In terms of infrastructure and technology, Czechia shows a strong performance with a logistics performance index of 3.0, reflecting sound trade and transport systems, though Finland has even greater reliability at 4.2. Internet access is widespread, with 86% of the population in Czechia using the Internet slightly less than Finland’s 93.5%. Research and development expenditure as a percentage of GDP at 2.0% in Czechia trails Finland's 3.0%. Also, the number of patent applications indicates a more innovative environment in Finland, reflecting its focus on technological advancement.

Environment and Sustainability

In environmental terms, Finland appears to have a significant advantage, with renewable energy consumption at 50.2% of total energy compared to Czechia's 17.2%. This discrepancy indicates Finland's strong commitment to sustainable energy practices and reducing reliance on fossil fuels. In terms of water stress, Czechia faces higher pressure on its freshwater resources (20.5%) compared to Finland's 7.1%, suggesting a more sustainable approach to water management in Finland. Furthermore, Finland's total greenhouse gas emissions per capita (7.8 t CO2e) are lower than Czechia's 10.5 t CO2e, reflecting a cleaner environment and more extensive environmental policies in place. This focus on sustainability aligns well with global efforts to combat climate change and promote environmental stewardship.