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Economy of Czech Republic vs Guinea compared: GDP & Debt

Updated on by Georank team

The Czech Republic has a GDP of $345B compared to $25.3B for Guinea, ranking 45/197 and 117/197 by economy size, respectively.

The Czech Republic has $148B in government debt (44.2% of GDP), compared to $12.1B (39.6% of GDP) in Guinea.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Czech Republic
GDP, current $

GDP, constant 2015 $
Guinea
GDP, current $

GDP, constant 2015 $
Year GDP
Czech Republic Guinea
Current $ Constant $ Current $ Constant $
1970 - - $3,220,224,608 $1,942,094,537
1971 - - $3,594,302,908 $2,046,303,804
1972 - - $4,203,069,035 $2,093,679,410
1973 - - $5,152,080,388 $2,126,493,372
1974 - - $5,691,417,541 $2,238,138,977
1975 - - $6,102,769,605 $2,302,528,458
1976 - - $6,762,781,871 $2,484,966,268
1977 - - $6,914,381,291 $2,401,643,613
1978 - - $8,087,305,999 $2,564,865,665
1979 - - $8,877,094,497 $2,533,885,660
1980 - - $9,746,524,915 $2,599,801,856
1981 - - $9,646,440,667 $2,615,653,814
1982 - - $11,926,032,493 $2,662,735,707
1983 - - $15,129,893,722 $2,697,351,587
1984 - - $18,421,497,251 $2,735,114,764
1985 - - $22,787,644,566 $2,871,868,604
1986 - - $2,909,130,355 $2,961,299,742
1987 - - $2,976,714,019 $3,059,020,822
1988 - - $3,476,480,303 $3,251,987,426
1989 - - $3,546,079,263 $3,382,179,962
1990 $41,016,881,802 $122,972,963,913 $3,888,320,666 $3,528,427,546
1991 $30,071,014,282 $108,689,725,031 $4,396,178,694 $3,620,640,283
1992 $35,051,065,440 $108,139,165,551 $4,789,220,417 $3,739,069,519
1993 $41,155,654,032 $108,206,108,282 $4,781,166,117 $3,927,673,590
1994 $48,188,478,339 $111,354,158,853 $4,932,800,407 $4,083,606,124
1995 $60,572,381,311 $118,281,953,160 $5,385,704,166 $4,271,765,349
1996 $67,804,105,330 $123,212,636,053 $5,641,243,100 $4,462,353,367
1997 $62,539,765,163 $122,478,487,836 $5,516,916,163 $4,693,574,824
1998 $67,187,217,328 $121,996,963,424 $5,232,118,046 $4,864,614,381
1999 $65,586,562,605 $123,678,521,512 $5,046,806,783 $5,050,053,677
2000 $62,175,642,238 $128,638,858,401 $4,367,458,867 $5,176,459,579
2001 $68,135,304,464 $132,391,536,300 $4,125,527,603 $5,365,832,406
2002 $82,607,869,610 $134,395,228,572 $4,301,608,753 $5,642,956,694
2003 $100,435,924,705 $138,831,395,778 $5,025,167,975 $5,713,414,722
2004 $120,147,899,984 $145,406,922,288 $5,300,767,961 $5,847,115,330
2005 $137,264,185,596 $154,676,655,550 $4,282,468,637 $6,022,369,313
2006 $156,236,258,387 $164,921,158,025 $4,220,019,845 $6,094,011,546
2007 $190,040,702,287 $173,973,393,346 $6,281,918,226 $6,509,469,022
2008 $236,506,264,754 $178,518,044,754 $6,964,179,983 $6,778,506,429
2009 $206,971,882,705 $169,952,170,271 $6,716,905,340 $6,702,408,066
2010 $211,168,667,286 $174,565,802,522 $6,853,467,146 $7,025,019,106
2011 $231,429,378,717 $177,659,773,383 $6,785,137,203 $7,419,271,030
2012 $210,363,223,088 $176,290,606,022 $7,638,044,557 $7,858,142,150
2013 $213,024,360,541 $176,216,894,660 $8,376,613,539 $8,168,199,850
2014 $210,911,285,078 $180,173,337,875 $8,778,473,373 $8,470,141,696
2015 $189,107,698,562 $189,107,698,562 $8,794,201,743 $8,794,201,743
2016 $198,160,659,304 $193,988,322,685 $8,595,955,222 $9,745,789,528
2017 $221,563,575,696 $204,024,435,233 $10,324,668,271 $10,749,606,370
2018 $251,992,360,762 $209,798,950,825 $11,857,030,367 $11,433,119,224
2019 $256,794,209,029 $217,279,912,682 $13,442,861,496 $12,075,307,752
2020 $251,109,660,603 $205,753,475,018 $14,088,693,743 $12,643,401,589
2021 $290,972,714,482 $214,043,320,221 $17,069,115,738 $13,349,198,344
2022 $301,831,228,326 $220,137,498,831 $19,910,452,542 $13,879,482,946
2023 $343,206,568,135 $220,015,846,842 $22,407,615,556 $14,648,645,956
2024 $345,036,675,975 $222,480,870,567 $25,334,307,879 $15,479,007,958

Economic indicators

Czech Republic Guinea
Gross domestic product
$345B
2024
$25.3B
2024
GDP rank
45/197
2024
117/197
2024
GDP growth
0.53%
2023-2024
13.1%
2023-2024
GDP per capita
$31,707
2024
$1,717
2024
GDP per capita rank
39/197
2024
161/197
2024
GDP per capita, PPP
$56,806
2024
$4,579
2024
Government debt
$148B
2024
$12.1B
2024
Debt-to-GDP ratio
44.2%
2025
39.6%
2025
Government debt per person
$13,630
2024
$821
2024
Government debt per person rank
43/185
2024
147/185
2024
Average annual personal income after taxes
$21,451
2025
$23,703
2025
Market capitalization of domestic companies
$34.6B
2024
n/a
Number of billionaires
11
2025
n/a
Income share by richest 10%
21.5%
2023
23.1%
2018
Income share by poorest 10%
3.8%
2023
3.5%
2018
Government expenditure, % of GDP
43.3%
2025
17.3%
2025
Consumer prices inflation
2.44%
2023-2024
3.1%
2024-2025
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.6%
2024
5.02%
2019
Population
10753822
15374667

GDP per capita in Czech Republic vs Guinea

The Czech Republic's GDP per capita is $31,707, ranking 39/197, compared to $1,717 in Guinea, ranking 161/197. Adjusted for purchasing power (GDP per capita PPP), the Czech Republic ranks 34th at $56,806, while Guinea ranks 161st at $4,579.

Czech Republic
GDP per capita

GDP per capita, PPP
Guinea
GDP per capita

GDP per capita, PPP
Year Current $
Czech Republic Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1970 - - $753 -
1971 - - $825 -
1972 - - $948 -
1973 - - $1,143 -
1974 - - $1,243 -
1975 - - $1,311 -
1976 - - $1,431 -
1977 - - $1,440 -
1978 - - $1,658 -
1979 - - $1,790 -
1980 - - $1,931 -
1981 - - $1,876 -
1982 - - $2,273 -
1983 - - $2,823 -
1984 - - $3,362 -
1985 - - $4,062 -
1986 - - $506 -
1987 - - $505 -
1988 - - $574 -
1989 - - $570 -
1990 $3,969 $12,806 $604 $871
1991 $2,917 $11,730 $656 $887
1992 $3,397 $11,924 $693 $908
1993 $3,984 $12,201 $671 $947
1994 $4,663 $12,820 $672 $976
1995 $5,865 $13,948 $713 $1,014
1996 $6,573 $14,775 $726 $1,048
1997 $6,069 $14,908 $696 $1,099
1998 $6,527 $15,063 $647 $1,130
1999 $6,378 $15,494 $611 $1,163
2000 $6,063 $16,329 $518 $1,196
2001 $6,669 $17,711 $483 $1,251
2002 $8,101 $18,344 $496 $1,315
2003 $9,852 $19,607 $566 $1,328
2004 $11,783 $20,991 $585 $1,366
2005 $13,442 $22,115 $463 $1,422
2006 $15,259 $23,919 $447 $1,453
2007 $18,453 $26,269 $650 $1,558
2008 $22,775 $27,938 $704 $1,614
2009 $19,817 $27,699 $662 $1,567
2010 $20,160 $28,157 $659 $1,622
2011 $22,049 $29,237 $637 $1,705
2012 $20,014 $29,466 $699 $1,790
2013 $20,260 $31,013 $748 $1,842
2014 $20,038 $32,743 $765 $1,873
2015 $17,932 $34,102 $747 $1,930
2016 $18,754 $36,445 $712 $2,255
2017 $20,913 $39,346 $834 $2,687
2018 $23,706 $41,638 $933 $2,844
2019 $24,063 $45,614 $1,031 $3,106
2020 $23,473 $44,839 $1,054 $3,332
2021 $27,696 $47,796 $1,245 $3,739
2022 $28,282 $51,710 $1,417 $4,062
2023 $31,591 $53,217 $1,555 $4,334
2024 $31,707 $56,806 $1,717 $4,579

Spending and national debt comparison

In 2024, the Czech Republic's government spending was $148B, accounting for 43.3% of its GDP, while Guinea's spent $4.31B, or 17.3% of GDP.

Debt-to-GDP ratio is 44.2% in the Czech Republic and 39.6% in Guinea, ranking 119/185 and 137/185, respectively.

Czech Republic
Government spending

Government debt
Guinea
Government spending

Government debt
Year % of GDP
Czech Republic Guinea
Government spending Government debt Government spending Government debt
1990 - - 18.7% 71.6%
1991 - - 16.3% 70.9%
1992 - - 13.8% 62%
1993 - - 13.3% 68.9%
1994 - - 12.6% 71.3%
1995 52.8% 13.5% 12.7% 66.5%
1996 41.4% 11.5% 12% 67.7%
1997 41.3% 12.1% 12.6% 67.9%
1998 41.6% 13.9% 10.3% 75.9%
1999 40.9% 15.1% 11.6% 92.3%
2000 40.6% 16.9% 12.6% 91.5%
2001 43.1% 22.6% 14.9% 90.4%
2002 44.4% 25.7% 14.4% 82.6%
2003 49% 28.1% 14.7% 81.6%
2004 42.2% 28.3% 13% 86.9%
2005 42.3% 27.7% 11% 97.9%
2006 41.5% 27.6% 13.2% 95.2%
2007 40.5% 27.3% 8.66% 60.8%
2008 40.9% 28.2% 10.1% 58.5%
2009 44.5% 33.4% 16.2% 61.3%
2010 43.2% 36.7% 20.5% 71.1%
2011 42.8% 39.4% 16% 53.8%
2012 44.4% 43.8% 19.6% 26.9%
2013 42.4% 44.1% 18.6% 34%
2014 42.3% 41.5% 20.1% 35.2%
2015 41.7% 39.5% 21.7% 44.4%
2016 39.4% 36.2% 16.1% 43%
2017 38.5% 33.8% 17.3% 41.9%
2018 40.1% 31.7% 15.9% 39.3%
2019 40.4% 29.6% 14.9% 38.6%
2020 46.3% 36.9% 17.1% 47.9%
2021 45% 40.7% 15.1% 42.9%
2022 43% 42.5% 14.2% 40.6%
2023 43.9% 42.4% 15.8% 37.3%
2024 43% 43% 17% 47.8%
2025 43.3% 44.2% 17.3% 39.6%

Government deficit by year

In 2024, the Czech Republic's government deficit, the difference between spending and revenue, was -$7.63B, equivalent to -2.21% of GDP. This compares to Guinea's deficit of -$782M, or -3.09% of GDP.

Over the past 30 years, the Czech Republic recorded a fiscal deficit in 26 of those years, while Guinea ran a deficit in 25 years. On average, the Czech Republic posted an annual deficit equal to -3.17% of GDP, compared to deficit of -1.31% of GDP for Guinea.

Deficit/surplus
Czech Republic

Guinea
Year Deficit/surplus, % of GDP
Czech Republic Guinea
1990 - -3.76%
1991 - -3.25%
1992 - -0.89%
1993 - -2.33%
1994 - -2.59%
1995 -12.3% -1.07%
1996 -2.98% -2.2%
1997 -3.14% 0.07%
1998 -4.14% 2.46%
1999 -3.08% -1.3%
2000 -3.55% -2.42%
2001 -5.76% -3.23%
2002 -6.34% -3.37%
2003 -6.87% -4.65%
2004 -2.4% -3.85%
2005 -3.06% -1.06%
2006 -2.19% -2.13%
2007 -0.68% 1.28%
2008 -2% 0.38%
2009 -5.46% -4.87%
2010 -4.14% -9.66%
2011 -2.71% -0.92%
2012 -3.92% 23.7%
2013 -1.3% -3.86%
2014 -2.09% -3.01%
2015 -0.67% -6.53%
2016 0.68% -0.08%
2017 1.46% -1.98%
2018 0.88% -0.97%
2019 0.28% -0.17%
2020 -5.65% -3%
2021 -4.95% -1.63%
2022 -3.07% -0.43%
2023 -3.78% -1.76%
2024 -2.21% -3.09%
2025 -2.56% -2.77%

Inflation comparison by year

Over the past 29 years, the Czech Republic has recorded an average annual inflation rate of 3.8%, compared with 11.5% in Guinea. In 2024, inflation was 2.44% in the Czech Republic and 3.1% in Guinea.

Inflation
Czech Republic

Guinea
Year Inflation
Czech Republic Guinea Czech Republic Guinea
1996 8.76% 3%
1997 8.6% 1.9%
1998 10.7% 5.1%
1999 2.14% 4.6%
2000 3.78% 6.8%
2001 4.66% 5.4%
2002 1.9% 3%
2003 0.12% 11%
2004 2.76% 17.5%
2005 1.86% 31.4%
2006 2.53% 34.7%
2007 2.85% 22.9%
2008 6.36% 18.4%
2009 1.02% 4.7%
2010 1.47% 15.5%
2011 1.92% 21.4%
2012 3.29% 15.2%
2013 1.44% 11.9%
2014 0.34% 9.7%
2015 0.31% 8.2%
2016 0.68% 8.2%
2017 2.45% 8.9%
2018 2.15% 9.8%
2019 2.85% 9.5%
2020 3.16% 10.6%
2021 3.84% 12.6%
2022 15.1% 10.5%
2023 10.7% 5.4%
2024 2.44% 4.7%
2025 - 3.1%

Top exports between countries

Czech Republic
Export category Export value
Weapons & explosives $4.42M
Processed food, beverages & tobacco $3.13M
Machinery & equipment $698K
Raw materials & minerals $425K
Textiles & consumer goods $214K
Chemicals & pharma $164K
Animal & marine products $134K
Wood & paper products $49K
Metals $19K
Miscellaneous $11K
Guinea
Export category Export value

Balance of trade

Czech Republic Guinea
Current account balance
$6.05B
2024
-$392M
2024
Current account balance ranking
31/189
2024
102/189
2024
Current account balance, % of GDP
+1.75%
2024
-1.55%
2024
Goods imports
$179B
2024
$7.08B
2024
Goods exports
$197B
2024
$11.6B
2024
Service imports
$38B
2024
$3.15B
2024
Service exports
$42.5B
2024
$71.2M
2024
Imports of goods and services, % of GDP
62.7%
2024
56.1%
2024
Exports of goods and services, % of GDP
69.2%
2024
44%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Czech Republic Guinea
Economic freedom 72.9 54.6
Economic freedom ranking 25/197 135/197
Property rights 89.9 22.3
Government integrity 62.8 25.1
Judicial effectiveness 92 26.5
Tax burden 78.9 70.4
Government spending 42.2 93
Fiscal health 71.5 93.4
Business freedom 81.4 44.9
Labor freedom 57.9 56.4
Monetary freedom 68.9 71.1
Trade freedom 79.6 61.8
Investment freedom 70 50
Financial freedom 80 40

Economic freedom by year comparison

The Economic Freedom Index for the Czech Republic is 72.9, ranking 25/197, compared to 54.6 for Guinea, ranking 135/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Czech Republic
Guinea
Year Economic freedom index
Czech Republic Guinea
1995 67.8 59.4
1996 68.1 58.5
1997 68.8 52.9
1998 68.4 61
1999 69.7 59.4
2000 68.6 58.2
2001 70.2 58.4
2002 66.5 52.9
2003 67.5 54.6
2004 67 56.1
2005 64.6 57.4
2006 66.4 52.8
2007 67.4 54.5
2008 68.1 52.8
2009 69.4 51
2010 69.8 51.8
2011 70.4 51.7
2012 69.9 50.8
2013 70.9 51.2
2014 72.2 53.5
2015 72.5 52.1
2016 73.2 53.3
2017 73.3 47.6
2018 74.2 52.2
2019 73.7 55.7
2020 74.8 56.5
2021 73.8 56.5
2022 74.4 54.2
2023 71.9 53.2
2024 70.2 53.3
2025 72.9 54.6

More economic indicators

Czech Republic Guinea
Services, % of GDP
59.5%
2024
37.5%
2024
Industry, % of GDP
30.2%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
1.5%
2024
29.6%
2024
GNI, Atlas method
$317B
2024
$21.7B
2024
GNI per capita, PPP
$54,340
2024
$4,200
2024
Total reserves including gold
$146B
2024
$1.89B
2023
Total reserves ranking
22/177
2024
128/177
2023
Net foreign direct investment
-$1.87B
2024
-$1.4B
2024
Net inflows of foreign direct investment
$13.1B
2024
$1.4B
2024
Net outflows of foreign direct investment
$11.2B
2024
$30K
2024
Servicing debt to the IMF, % of GNI
n/a
1.49%
2023
Poverty at national poverty lines
10.2%
2021
47%
2020
Gross capital formation, % of GDP
26%
2024
31.2%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.