Czechia Czechia vs Luxembourg Luxembourg development indicators, 2024

Indicator
Czechia
Czechia, Value
Luxembourg
Luxembourg, Value
Czechia
Czechia, Rank
Luxembourg
Luxembourg, Rank
Czechia Czechia as % of
Luxembourg Luxembourg
Current account balance (% of GDP) 1.75 13.8 43 7 12.7 %
Exports of goods and services (% of GDP) 69.2 216 25 1 32.1 %
GDP per capita (current US$) 31,707 137,517 40 2 23.1 %
GDP per capita, PPP (current international US$) 56,806 150,772 33 1 37.7 %
Imports of goods and services (% of GDP) 62.7 183 31 1 34.3 %
Inflation, consumer prices (annual %) 2.44 2.05 98 112 119 %
Net migration -86,169 5,677 198 53
Population, total 10,882,164 677,717 86 167 1,606 %

Demography and Health

Czechia has a slightly lower birth rate at 8.4 births per 1,000 people compared to Luxembourg's 9.5, ranking 53rd against Luxembourg's 28th. In terms of mortality, Czechia experiences a higher crude death rate of 10.4 per 1,000 people, whereas Luxembourg has a significantly lower rate at 6.6, placing Czechia 45th and Luxembourg 80th respectively. Life expectancy at birth is also lower in Czechia at 79.9 years compared to Luxembourg's 83.4 years, ranking them 52nd and 4th. The under-5 mortality rate is somewhat similar, with Czechia at 2.6 per 1,000 live births and Luxembourg at 2.3, leading to rankings of 66th and 72nd. Czechia exhibits a negative net migration of -86,169, which contrasts with Luxembourg's positive migration of 5,677, highlighting differences in attractiveness for immigrants. Regarding poverty, Czechia's poverty headcount is 10.2%, better than Luxembourg's 17.3%. However, both countries report a similar prevalence of undernourishment at 2.5%.

Economy

The Czech economy has a GDP per capita of $31,707, which is a fraction of Luxembourg's exceptionally high GDP per capita of $137,517, where Luxembourg ranks first globally while Czechia ranks 57th. In terms of purchasing power parity (PPP), Czechia again shows a lower figure at $56,806, compared to Luxembourg's astonishing $150,772. The percentage of GDP derived from exports is strikingly different; Czechia exports 69.2% of its GDP, ranking 51st, while Luxembourg's exports constitute a massive 216% of its GDP, which is ranked 4th. Imports also follow a similar trend with Czechia at 62.7% of GDP (54th) and Luxembourg at 183% (3rd). Inflation rates show Czechia at 2.4% and Luxembourg slightly lower at 2.1%. Unemployment rate is significantly lower in Czechia at 2.6%, ranking 80th globally, while Luxembourg stands at 5.2% (51st).

Trade and Investment

Czechia's current account balance shows a surplus of 1.8% of GDP, placing it 39th, while Luxembourg boasts a remarkable 13.8% surplus, highlighting its position as a global financial hub ranked 1st. Both countries show significant levels of trade, but the extreme percentages of GDP in exports and imports for Luxembourg imply a heavy reliance on international trade, which is critical for its economy. Research and development expenditure as a percentage of GDP reveals Czechia dedicating 2% towards innovation (ranking 20th) as opposed to Luxembourg's 1%, indicating a more robust commitment towards advancing technology and industry in Czechia.

Governance and Institutions

Governance and institutional efficiency indicators show significant disparities. Czechia scores 0.8 in Control of Corruption (37th rank) while Luxembourg achieves 1.9 (11th). Government effectiveness mirrors this pattern with Czechia at 1.1 (33rd) and Luxembourg at 1.9 (5th). The Regulatory Quality and Rule of Law metrics paint a similar picture; Czechia scores 1.3 (31st) for regulatory quality and 1.1 (35th) for rule of law, demonstrating deficiencies compared to Luxembourg's higher scores of 1.9 (1st) and 1.8 (8th). Political stability is more favorable in Czechia with a score of 1.0, ranked 5th, versus Luxembourg's slightly higher score of 1.1, placing it 3rd.

Infrastructure and Technology

Logistics performance index shows Czechia at 3 and Luxembourg at 3.6, suggesting a higher quality of trade-related infrastructure in Luxembourg, ranked 13th versus Czechia's 24th. This difference may affect trade efficiency and overall economic competitiveness. Patent applications per resident illustrate innovation levels, with Czechia submitting 541 applications, but Luxembourg has fewer at 112, highlighting that Czechia has a more vibrant intellectual property activity, despite being less wealthy in terms of per capita income.

Environment and Sustainability

In terms of environmental impact, Czechia emits 10.5 tons of CO2 equivalent per capita, comparatively higher than Luxembourg's 11.8 tons, which is surprising given Luxembourg’s standing as a wealthier nation. However, Luxembourg ranks better (4th compared to 13th) on renewable energy consumption, standing at 20.5% compared to Czechia's 17.2%. Water stress levels also differ, with Czechia at 20.5% of available freshwater resources being withdrawn, while Luxembourg experiences a significantly lower level of 4%. This indicates a more sustainable water management practice in Luxembourg.