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Economy of Czech Republic vs Luxembourg compared: GDP & Debt

Updated on by Georank team

The Czech Republic has a GDP of $347B compared to $93.3B for Luxembourg, ranking 44/197 and 74/197 by economy size, respectively.

The Czech Republic has $150B in government debt (43.3% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Czech Republic vs Luxembourg GDP by year

Czech Republic
Luxembourg
1x
Year GDP, current $
Czech Republic Luxembourg
2024 $347,034,062,928 $93,279,851,863
2023 $345,059,295,660 $88,788,881,539
2022 $301,831,228,326 $80,801,680,397
2021 $290,972,714,482 $86,386,759,695
2020 $251,109,660,603 $73,670,782,100
2019 $256,794,209,029 $69,872,035,114
2018 $251,992,360,762 $71,085,623,495
2017 $221,563,575,696 $65,712,180,343
2016 $198,160,659,304 $62,216,885,436
2015 $189,107,698,562 $60,071,584,216
2014 $210,911,285,078 $68,804,811,898
2013 $213,024,360,541 $65,203,276,467
2012 $210,363,223,088 $59,776,383,527
2011 $231,429,378,717 $61,696,281,326
2010 $211,168,667,286 $56,213,985,987
2009 $206,971,882,705 $54,467,289,898
2008 $236,506,264,754 $58,844,277,702
2007 $190,040,702,287 $51,587,401,416
2006 $156,236,258,387 $42,910,146,296
2005 $137,264,185,596 $37,672,280,120
2004 $120,147,899,984 $35,064,843,793
2003 $100,435,924,705 $29,667,268,248
2002 $82,607,869,610 $23,649,833,332
2001 $68,135,304,464 $21,387,533,703
2000 $62,175,642,238 $21,230,182,989
1999 $65,586,562,605 $21,899,317,599
1998 $67,187,217,328 $20,150,053,345
1997 $62,539,765,163 $19,563,836,265
1996 $67,804,105,330 $20,895,314,658
1995 $60,572,381,311 $20,853,093,870
1994 $48,188,478,339 $17,701,798,891
1993 $41,155,654,032 $15,925,521,222
1992 $35,051,065,440 $15,518,702,635
1991 $30,071,014,282 $13,834,219,728
1990 $41,016,881,802 $12,778,792,854
1989 - $10,037,674,038
1988 - $9,418,167,855
1987 - $8,320,902,215
1986 - $6,685,595,088
1985 - $4,577,211,767
1984 - $4,438,435,493
1983 - $4,524,217,751
1982 - $4,602,316,793
1981 - $5,053,665,797
1980 - $6,019,805,490
1979 - $5,516,982,664
1978 - $4,718,539,772
1977 - $3,789,321,328
1976 - $3,423,586,207
1975 - $3,123,333,333
1974 - $3,183,637,117
1973 - $2,609,875,802
1972 - $1,901,697,370
1971 - $1,518,773,421
1970 - $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

GDP per capita in Czech Republic vs Luxembourg by year

Czech Republic
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Czech Republic Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,823 $57,285 $137,782 $155,941
2023 $31,762 $55,761 $133,231 $150,508
2022 $28,282 $52,947 $123,720 $146,919
2021 $27,696 $47,796 $134,966 $136,772
2020 $23,473 $44,839 $116,860 $122,067
2019 $24,063 $45,614 $112,697 $121,372
2018 $23,706 $41,638 $116,927 $116,638
2017 $20,913 $39,346 $110,193 $114,986
2016 $18,754 $36,445 $106,899 $113,365
2015 $17,932 $34,093 $105,462 $107,860
2014 $20,038 $32,743 $123,679 $105,296
2013 $20,260 $31,013 $120,000 $100,925
2012 $20,014 $29,466 $112,585 $96,636
2011 $22,049 $29,237 $119,025 $94,475
2010 $20,160 $28,154 $110,886 $90,336
2009 $19,817 $27,713 $109,420 $86,919
2008 $22,775 $27,938 $120,422 $90,971
2007 $18,453 $26,268 $107,475 $85,126
2006 $15,259 $23,914 $90,789 $78,861
2005 $13,442 $22,115 $80,988 $68,788
2004 $11,783 $20,988 $76,545 $64,686
2003 $9,852 $19,604 $65,689 $60,192
2002 $8,101 $18,344 $53,006 $58,576
2001 $6,669 $17,709 $48,440 $56,136
2000 $6,063 $16,332 $48,660 $55,136
1999 $6,378 $15,494 $50,872 $49,845
1998 $6,527 $15,064 $47,445 $44,270
1997 $6,069 $14,911 $46,642 $42,488
1996 $6,573 $14,781 $50,444 $39,722
1995 $5,865 $13,957 $51,032 $38,345
1994 $4,663 $12,862 $43,933 $37,551
1993 $3,984 $12,242 $40,067 $35,899
1992 $3,397 $11,963 $39,571 $34,108
1991 $2,917 $11,768 $35,747 $33,191
1990 $3,969 $12,848 $33,465 $29,949
1989 - - $26,618 -
1988 - - $25,219 -
1987 - - $22,443 -
1986 - - $18,150 -
1985 - - $12,482 -
1984 - - $12,127 -
1983 - - $12,374 -
1982 - - $12,591 -
1981 - - $13,837 -
1980 - - $16,531 -
1979 - - $15,204 -
1978 - - $13,034 -
1977 - - $10,486 -
1976 - - $9,491 -
1975 - - $8,701 -
1974 - - $8,967 -
1973 - - $7,447 -
1972 - - $5,487 -
1971 - - $4,435 -
1970 - - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

The Czech Republic's GDP per capita is $31,823, ranking 39/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), the Czech Republic ranks 35th at $57,285, while Luxembourg ranks 1st at $155,941.

Economic indicators

Czech Republic Luxembourg
Gross domestic product
$347B
2024
$93.3B
2024
GDP rank
44/197
2024
74/197
2024
GDP growth
1.23%
2023-2024
0.36%
2023-2024
GDP per capita
$31,823
2024
$137,782
2024
GDP per capita rank
39/197
2024
3/197
2024
GDP per capita, PPP
$57,285
2024
$155,941
2024
GDP per capita PPP rank
35/197
2024
1/197
2024
Government debt
$150B
2024
$24.5B
2024
Debt-to-GDP ratio
43.3%
2024
26.3%
2024
Government debt per person
$13,792
2024
$36,221
2024
Government debt per person rank
43/185
2024
19/185
2024
Average annual personal income after taxes
$22,139
2026
$69,593
2026
Market capitalization of domestic companies
$34.6B
2024
$41.9B
2024
Number of billionaires
11
2025
1
2025
Income share by richest 10%
21.5%
2023
25%
2023
Income share by poorest 10%
3.8%
2023
2.8%
2023
Government expenditure, % of GDP
42.8%
2024
46.9%
2024
Consumer prices inflation
2.44%
2023-2024
2.05%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.6%
2024
6.42%
2024
Population
10649126
693885

Spending and national debt comparison by year

Czech Republic
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Czech Republic Luxembourg
Government spending Government debt Government spending Government debt
2024 42.8% 43.3% 46.9% 26.3%
2023 43.7% 42.2% 46.4% 24.7%
2022 43% 42.5% 44.3% 24.9%
2021 45% 40.7% 42.4% 24.2%
2020 46.3% 36.9% 47% 24.5%
2019 40.4% 29.6% 43.1% 22.3%
2018 40.1% 31.7% 42.3% 20.9%
2017 38.5% 33.8% 41.3% 21.8%
2016 39.4% 36.2% 40% 19.6%
2015 41.7% 39.5% 40.4% 21.1%
2014 42.3% 41.5% 40.6% 21.9%
2013 42.4% 44.1% 41.2% 22.4%
2012 44.4% 43.8% 41.8% 20.8%
2011 42.8% 39.4% 41.5% 18.5%
2010 43.2% 36.7% 42% 19.1%
2009 44.5% 33.4% 42.7% 15.3%
2008 40.9% 28.2% 37.9% 14.6%
2007 40.5% 27.3% 37.4% 8.09%
2006 41.5% 27.6% 39.4% 8.21%
2005 42.3% 27.7% 43.4% 7.95%
2004 42.2% 28.3% 43.7% 7.83%
2003 49% 28.1% 43.3% 7.43%
2002 44.4% 25.7% 41.8% 7.45%
2001 43.1% 22.6% 38.1% 7.62%
2000 40.6% 16.9% 38% 7.49%
1999 40.9% 15.1% 41.7% 8.39%
1998 41.6% 13.9% 43.9% 9.51%
1997 41.3% 12.1% 44.2% 10.1%
1996 41.4% 11.5% 42.5% 10.2%
1995 52.8% 13.5% 42% 10.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

In 2024, the Czech Republic's government spending was $148B, accounting for 42.8% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 43.3% in the Czech Republic and 26.3% in Luxembourg, ranking 124/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Czech Republic

Luxembourg
1x
Year Deficit/surplus, % of GDP
Czech Republic Luxembourg
2024 -1.99% 1.03%
2023 -3.73% -0.78%
2022 -3.07% 0.18%
2021 -4.95% 1%
2020 -5.65% -3.09%
2019 0.28% 2.68%
2018 0.88% 3.17%
2017 1.46% 1.37%
2016 0.68% 1.89%
2015 -0.67% 1.3%
2014 -2.09% 1.33%
2013 -1.3% 0.84%
2012 -3.92% 0.5%
2011 -2.71% 0.65%
2010 -4.14% -0.26%
2009 -5.46% -0.21%
2008 -2% 3.37%
2007 -0.68% 4.35%
2006 -2.19% 1.9%
2005 -3.06% -0.21%
2004 -2.4% -1.39%
2003 -6.87% 0.28%
2002 -6.34% 2.03%
2001 -5.76% 5.62%
2000 -3.55% 5.55%
1999 -3.08% 3.24%
1998 -4.14% 2.98%
1997 -3.14% 2.65%
1996 -2.98% 2.37%
1995 -12.3% 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

In 2024, the Czech Republic's government deficit, the difference between spending and revenue, was $6.92B, equivalent to 1.99% of GDP. This compares to Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 30 years, the Czech Republic recorded a fiscal deficit in 26 of those years, while Luxembourg ran a deficit in 6 years. On average, the Czech Republic posted an annual deficit equal to 3.16% of GDP, compared to surplus of 1.57% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Czech Republic

Luxembourg
1x
Year Consumer prices inflation
Czech Republic Luxembourg
2024 2.44% 2.05%
2023 10.7% 3.74%
2022 15.1% 6.34%
2021 3.84% 2.53%
2020 3.16% 0.82%
2019 2.85% 1.74%
2018 2.15% 1.53%
2017 2.45% 1.73%
2016 0.68% 0.29%
2015 0.31% 0.47%
2014 0.34% 0.63%
2013 1.44% 1.73%
2012 3.29% 2.66%
2011 1.92% 3.41%
2010 1.47% 2.27%
2009 1.02% 0.37%
2008 6.36% 3.4%
2007 2.85% 2.31%
2006 2.53% 2.67%
2005 1.86% 2.49%
2004 2.76% 2.23%
2003 0.12% 2.05%
2002 1.9% 2.07%
2001 4.66% 2.66%
2000 3.78% 3.15%
1999 2.14% 1.03%
1998 10.7% 0.96%
1997 8.6% 1.37%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

Over the past 28 years, the Czech Republic has recorded an average annual inflation rate of 3.62%, compared with 2.1% in Luxembourg. In 2024, inflation was 2.44% in the Czech Republic and 2.05% in Luxembourg.

Top exports between countries

Czech Republic
Export category Export value
Transport & tourism services $509M
Machinery & equipment $193M
Business & finance services $149M
Raw materials & minerals $111M
IT & IP services $97.6M
Processed food, beverages & tobacco $36.8M
Textiles & consumer goods $34.4M
Chemicals & pharma $19M
Weapons & explosives $17.8M
Metals $15.6M
Luxembourg
Export category Export value
Machinery & equipment $74.2M
Business & finance services $68.1M
Chemicals & pharma $33M
Metals $22.5M
Textiles & consumer goods $20.1M
Raw materials & minerals $10.4M
Wood & paper products $10.1M
Transport & tourism services $5.41M
Processed food, beverages & tobacco $3.79M
Animal & marine products $3.75M

Balance of trade

Czech Republic Luxembourg
Current account balance
$6.05B
2024
$4.1B
2024
Current account balance ranking
31/190
2024
35/190
2024
Current account balance, % of GDP
+1.74%
2024
+4.4%
2024
Goods imports
$179B
2024
$29.4B
2024
Goods exports
$197B
2024
$31.3B
2024
Service imports
$38B
2024
$117B
2024
Service exports
$42.5B
2024
$150B
2024
Imports of goods and services, % of GDP
62.6%
2024
159.7%
2024
Exports of goods and services, % of GDP
68.9%
2024
191.5%
2024

Economic freedom indices

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

Czech Republic Luxembourg
Economic freedom 73.2 79.7
Economic freedom ranking 25/197 7/197
Property rights 89.8 96.6
Government integrity 64.7 88.7
Judicial effectiveness 92.1 99.1
Tax burden 78.8 62.3
Government spending 44.2 36.9
Fiscal health 82.5 98.6
Business freedom 76.8 89.5
Labor freedom 55.1 56.7
Monetary freedom 75 74.1
Trade freedom 79.4 79.4
Investment freedom 70 95
Financial freedom 70 80

Economic freedom comparison by year

Czech Republic
Luxembourg
1x
Year Economic freedom index
Czech Republic Luxembourg
2026 73.2 79.7
2025 72.9 79.5
2024 70.2 79.2
2023 71.9 78.4
2022 74.4 80.6
2021 73.8 76
2020 74.8 75.8
2019 73.7 75.9
2018 74.2 76.4
2017 73.3 75.9
2016 73.2 73.9
2015 72.5 73.2
2014 72.2 74.2
2013 70.9 74.2
2012 69.9 74.5
2011 70.4 76.2
2010 69.8 75.4
2009 69.4 75.2
2008 68.1 74.7
2007 67.4 74.6
2006 66.4 75.3
2005 64.6 76.3
2004 67 78.9
2003 67.5 79.9
2002 66.5 79.4
2001 70.2 80.1
2000 68.6 76.4
1999 69.7 72.4
1998 68.4 72.7
1997 68.8 72.8
1996 68.1 72.5
1995 67.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

The Economic Freedom Index for the Czech Republic is 73.2, ranking 25/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Czech Republic Luxembourg
Services, % of GDP
60.2%
2024
81.2%
2024
Industry, % of GDP
29.2%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
1.9%
2024
0.21%
2024
GNI, Atlas method
$322B
2024
$57.3B
2024
GNI per capita, PPP
$54,800
2024
$110,650
2024
Total reserves including gold
$146B
2024
$2.79B
2024
Total reserves ranking
22/177
2024
119/177
2024
Net foreign direct investment
-$1.87B
2024
$21.4B
2024
Net inflows of foreign direct investment
$13.1B
2024
$106B
2024
Net outflows of foreign direct investment
$11.2B
2024
$109B
2024
Poverty at national poverty lines
10.2%
2021
17.3%
2021
Gross capital formation, % of GDP
26.3%
2024
15.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/czech-republic/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.

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.