Czechia vs Slovakia development indicators, 2024

Demography and Health

Czechia has a population of approximately 10.9 million people, compared to Slovakia's 5.4 million. The crude birth rate in Czechia is lower at 8.4 per 1,000 people compared to Slovakia's 9. This reflects a demographic trend that could affect future population size and workforce availability. The death rate in Czechia is slightly higher at 10.4 per 1,000 people, compared to Slovakia's 10. Despite these statistics, life expectancy at birth in Czechia is higher at 79.9 years, while Slovakia's stands at 78 years. The under-5 mortality rate in Czechia is significantly lower at 2.6 per 1,000 live births compared to Slovakia's 6.1. These health indicators suggest that Czechia may have a more effective healthcare system or better overall health outcomes for children.

Economy

Czechia's GDP per capita is about $31,707, which is substantially higher than Slovakia's $26,148. In terms of purchasing power parity (PPP), Czechia also leads with $56,806, compared to Slovakia's $47,181. This demonstrates a stronger economic performance and potentially a higher standard of living in Czechia. The exports of goods and services as a percentage of GDP are markedly higher in Slovakia (85.2%) compared to Czechia (69.2%), illustrating a more export-oriented economy in Slovakia. On the flipside, Czechia’s inflation rate is lower at 2.4% versus Slovakia's 2.8%, suggesting more stability in price levels.

Trade and Investment

When comparing foreign direct investment (FDI), Czechia reports a net inflow of 3.8% of GDP, higher than Slovakia's 2.5%, indicating a more attractive investment climate in Czechia. The current account balance also favors Czechia with a surplus of 1.8% of GDP, while Slovakia faces a deficit of -2.7%. This reflects differences in foreign trade dynamics and overall economic stability. The imports of goods and services as a percentage of GDP are similarly high for both countries, with Slovakia leading at 85%, compared to Czechia's 62.7%.

Governance and Institutions

Czechia generally performs better in governance indicators. The control of corruption score for Czechia is 0.8, surpassing Slovakia's 0.3. Similarly, governance effectiveness is rated at 1.1 for Czechia versus 0.2 for Slovakia, indicating more efficient government operations. Political stability is also more favorable in Czechia, rated at 1, compared to Slovakia's 0.6. These factors suggest a more stable and effective governmental framework in Czechia, which is crucial for long-term development.

Infrastructure and Technology

In terms of infrastructure, both countries show a decent logistics performance index, with Czechia scoring 3 and Slovakia slightly higher at 3.3. This indicates that while both nations possess reasonable transport and trade-related infrastructure, Slovakia may have a slight edge in this area. Regarding research and development expenditure as a percentage of GDP, Czechia invests 2%, significantly higher than Slovakia's 1%. This greater investment in R&D can be vital for fostering innovation and supporting long-term economic growth.

Environment and Sustainability

The environment is a key concern for both nations. Czechia has a higher level of total greenhouse gas emissions per capita at 10.5 t CO2e/capita, compared to Slovakia's 8.3 t. This suggests that while both countries face environmental challenges, Slovakia may be slightly more efficient in managing its emissions. In terms of renewable energy consumption, both countries have similar levels, with Czechia at 17.2% and Slovakia slightly higher at 17.9%. However, the level of water stress is markedly different, with Czechia's freshwater withdrawal at 20.5% compared to Slovakia's very low 2.4%, indicating a more sustainable approach to water resource management in Slovakia.