Skip to content

Economy of Czech Republic vs Nigeria compared: GDP & Debt

Updated on by Georank team

The Czech Republic has a GDP of $347B compared to $252B for Nigeria, ranking 44/197 and 54/197 by economy size, respectively.

The Czech Republic has $150B in government debt (43.3% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Czech Republic vs Nigeria GDP by year

Czech Republic
Nigeria
1x
Year GDP, current $
Czech Republic Nigeria
2024 $347,034,062,928 $252,261,880,141
2023 $345,059,295,660 $487,387,801,881
2022 $301,831,228,326 $646,950,257,578
2021 $290,972,714,482 $609,147,716,973
2020 $251,109,660,603 $598,586,817,819
2019 $256,794,209,029 $668,219,992,691
2018 $251,992,360,762 $421,739,251,509
2017 $221,563,575,696 $375,745,731,053
2016 $198,160,659,304 $404,649,125,252
2015 $189,107,698,562 $493,026,682,801
2014 $210,911,285,078 $574,183,763,412
2013 $213,024,360,541 $520,117,180,314
2012 $210,363,223,088 $463,971,018,239
2011 $231,429,378,717 $414,466,676,831
2010 $211,168,667,286 $366,990,417,129
2009 $206,971,882,705 $295,008,835,381
2008 $236,506,264,754 $339,476,276,258
2007 $190,040,702,287 $278,260,846,800
2006 $156,236,258,387 $238,454,997,161
2005 $137,264,185,596 $175,670,569,969
2004 $120,147,899,984 $135,764,731,646
2003 $100,435,924,705 $104,738,954,264
2002 $82,607,869,610 $95,054,059,303
2001 $68,135,304,464 $73,557,840,064
2000 $62,175,642,238 $69,171,451,627
1999 $65,586,562,605 $59,145,077,039
1998 $67,187,217,328 $218,416,200,673
1997 $62,539,765,163 $200,850,397,618
1996 $67,804,105,330 $185,730,236,700
1995 $60,572,381,311 $140,919,776,986
1994 $48,188,478,339 $80,399,613,064
1993 $41,155,654,032 $56,721,051,402
1992 $35,051,065,440 $52,058,181,854
1991 $30,071,014,282 $59,526,833,412
1990 $41,016,881,802 $54,035,795,388
1989 - $44,003,061,108
1988 - $49,648,470,440
1987 - $52,676,041,931
1986 - $54,805,852,581
1985 - $73,745,821,158
1984 - $73,484,359,521
1983 - $97,094,911,792
1982 - $142,769,363,314
1981 - $164,475,209,516
1980 - $64,201,788,123
1979 - $47,259,911,894
1978 - $36,527,862,209
1977 - $36,035,407,725
1976 - $36,308,883,249
1975 - $27,778,934,625
1974 - $24,846,641,318
1973 - $15,162,871,287
1972 - $12,274,416,018
1971 - $9,181,769,912
1970 - $12,546,094,982
1969 - $6,634,317,346
1968 - $5,200,997,920
1967 - $5,203,237,919
1966 - $6,366,917,453
1965 - $5,874,537,650
1964 - $5,552,931,319
1963 - $5,165,590,254
1962 - $4,909,399,176
1961 - $4,467,287,893
1960 - $4,196,174,502

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

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

GDP per capita in Czech Republic vs Nigeria by year

Czech Republic
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Czech Republic Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,823 $57,285 $1,084 $9,087
2023 $31,762 $55,761 $2,139 $8,705
2022 $28,282 $52,947 $2,899 $8,305
2021 $27,696 $47,796 $2,787 $7,588
2020 $23,473 $44,839 $2,797 $7,415
2019 $24,063 $45,614 $3,190 $7,551
2018 $23,706 $41,638 $2,058 $7,158
2017 $20,913 $39,346 $1,876 $7,037
2016 $18,754 $36,445 $2,070 $7,072
2015 $17,932 $34,093 $2,586 $7,308
2014 $20,038 $32,743 $3,089 $7,396
2013 $20,260 $31,013 $2,873 $7,004
2012 $20,014 $29,466 $2,633 $6,671
2011 $22,049 $29,237 $2,418 $6,585
2010 $20,160 $28,154 $2,202 $6,301
2009 $19,817 $27,713 $1,820 $5,927
2008 $22,775 $27,938 $2,154 $5,607
2007 $18,453 $26,268 $1,816 $5,298
2006 $15,259 $23,914 $1,600 $4,975
2005 $13,442 $22,115 $1,211 $4,678
2004 $11,783 $20,988 $962 $4,381
2003 $9,852 $19,604 $763 $4,015
2002 $8,101 $18,344 $712 $3,770
2001 $6,669 $17,709 $566 $3,309
2000 $6,063 $16,332 $547 $3,139
1999 $6,378 $15,494 $481 $3,002
1998 $6,527 $15,064 $1,822 $3,022
1997 $6,069 $14,911 $1,720 $2,990
1996 $6,573 $14,781 $1,633 $2,931
1995 $5,865 $13,957 $1,272 $2,835
1994 $4,663 $12,862 $745 $2,853
1993 $3,984 $12,242 $540 $2,921
1992 $3,397 $11,963 $509 $2,991
1991 $2,917 $11,768 $597 $2,870
1990 $3,969 $12,848 $556 $2,840
1989 - - $465 -
1988 - - $540 -
1987 - - $588 -
1986 - - $628 -
1985 - - $869 -
1984 - - $890 -
1983 - - $1,207 -
1982 - - $1,822 -
1981 - - $2,162 -
1980 - - $870 -
1979 - - $661 -
1978 - - $527 -
1977 - - $536 -
1976 - - $556 -
1975 - - $438 -
1974 - - $403 -
1973 - - $252.4 -
1972 - - $209.5 -
1971 - - $160.5 -
1970 - - $224.5 -
1969 - - $121.4 -
1968 - - $97.3 -
1967 - - $99.5 -
1966 - - $124.4 -
1965 - - $117.3 -
1964 - - $113.3 -
1963 - - $107.7 -
1962 - - $104.5 -
1961 - - $97.1 -
1960 - - $93.1 -

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

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

The Czech Republic's GDP per capita is $31,823, ranking 39/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), the Czech Republic ranks 35th at $57,285, while Nigeria ranks 136th at $9,087.

Economic indicators

Czech Republic Nigeria
Gross domestic product
$347B
2024
$252B
2024
GDP rank
44/197
2024
54/197
2024
GDP growth
1.23%
2023-2024
4.06%
2023-2024
GDP per capita
$31,823
2024
$1,084
2024
GDP per capita rank
39/197
2024
174/197
2024
GDP per capita, PPP
$57,285
2024
$9,087
2024
GDP per capita PPP rank
35/197
2024
136/197
2024
Government debt
$150B
2024
$99.2B
2024
Debt-to-GDP ratio
43.3%
2024
39.3%
2024
Government debt per person
$13,792
2024
$426
2024
Government debt per person rank
43/185
2024
170/185
2024
Average annual personal income after taxes
$22,139
2026
$1,104
2026
Market capitalization of domestic companies
$34.6B
2024
$54.4B
2024
Number of billionaires
11
2025
4
2025
Income share by richest 10%
21.5%
2023
26.3%
2022
Income share by poorest 10%
3.8%
2023
3%
2022
Government expenditure, % of GDP
42.8%
2024
12.3%
2024
Consumer prices inflation
2.44%
2023-2024
33.2%
2023-2024
Central bank interest rate
3.5%
2025
27%
2025
Unemployment rate
2.6%
2024
3.45%
2024
Population
10649126
243824469

Spending and national debt comparison by year

Czech Republic
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Czech Republic Nigeria
Government spending Government debt Government spending Government debt
2024 42.8% 43.3% 12.3% 39.3%
2023 43.7% 42.2% 10.4% 36.3%
2022 43% 42.5% 10.6% 29.8%
2021 45% 40.7% 9.09% 26.6%
2020 46.3% 36.9% 8.73% 25.7%
2019 40.4% 29.6% 8.87% 21.4%
2018 40.1% 31.7% 9.1% 20.4%
2017 38.5% 33.8% 8.51% 18%
2016 39.4% 36.2% 6.93% 17.4%
2015 41.7% 39.5% 7.85% 14.9%
2014 42.3% 41.5% 9.49% 12.9%
2013 42.4% 44.1% 10% 13%
2012 44.4% 43.8% 10.5% 12.5%
2011 42.8% 39.4% 12.3% 12.4%
2010 43.2% 36.7% 11.8% 6.67%
2009 44.5% 33.4% 11% 6.12%
2008 40.9% 28.2% 10.2% 5.17%
2007 40.5% 27.3% 12.9% 5.76%
2006 41.5% 27.6% 8.75% 6.68%
2005 42.3% 27.7% 12.6% 13.4%
2004 42.2% 28.3% 13% 25.2%
2003 49% 28.1% 16.5% 29.9%
2002 44.4% 25.7% 13.8% 30.7%
2001 43.1% 22.6% 21.9% 37.7%
2000 40.6% 16.9% 17.6% 40.9%
1999 40.9% 15.1% 14.9% 46.1%
1998 41.6% 13.9% 11.2% 15.8%
1997 41.3% 12.1% 9.68% 17.1%
1996 41.4% 11.5% 7.87% 17.9%
1995 52.8% 13.5% 8.87% 24.2%
1994 - - 12.1% 39.7%
1993 - - 20% 50.4%
1992 - - 15.9% 49.8%
1991 - - 13.6% 53.2%
1990 - - 14.2% 50.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, the Czech Republic's government spending was $148B, accounting for 42.8% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 43.3% in the Czech Republic and 39.3% in Nigeria, ranking 124/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Czech Republic

Nigeria
1x
Year Deficit/surplus, % of GDP
Czech Republic Nigeria
2024 -1.99% -1.57%
2023 -3.73% -3.12%
2022 -3.07% -4%
2021 -4.95% -3.97%
2020 -5.65% -4.03%
2019 0.28% -3.31%
2018 0.88% -3.06%
2017 1.46% -3.85%
2016 0.68% -3.3%
2015 -0.67% -2.7%
2014 -2.09% -1.72%
2013 -1.3% -1.89%
2012 -3.92% -0.09%
2011 -2.71% 0.31%
2010 -4.14% -2.96%
2009 -5.46% -3.78%
2008 -2% 4.05%
2007 -0.68% -0.79%
2006 -2.19% 6.22%
2005 -3.06% 3.49%
2004 -2.4% 3.9%
2003 -6.87% -1.56%
2002 -6.34% 0.95%
2001 -5.76% -2.29%
2000 -3.55% 2.89%
1999 -3.08% -1.39%
1998 -4.14% -3.47%
1997 -3.14% 1.14%
1996 -2.98% 3.37%
1995 -12.3% 2.52%
1994 - -2.96%
1993 - -6.07%
1992 - 0.94%
1991 - -1.18%
1990 - -0.48%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/czech-republic/nigeria | 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 Nigeria's deficit of $3.95B, or 1.57% of GDP.

Over the past 30 years, the Czech Republic recorded a fiscal deficit in 26 of those years, while Nigeria ran a deficit in 20 years. On average, the Czech Republic posted an annual deficit equal to 3.16% of GDP, compared to deficit of 0.8% of GDP for Nigeria.

Inflation comparison by year

Inflation
Czech Republic

Nigeria
1x
Year Consumer prices inflation
Czech Republic Nigeria
2024 2.44% 33.2%
2023 10.7% 24.7%
2022 15.1% 18.8%
2021 3.84% 17%
2020 3.16% 13.2%
2019 2.85% 11.4%
2018 2.15% 12.1%
2017 2.45% 16.5%
2016 0.68% 15.7%
2015 0.31% 9.01%
2014 0.34% 8.05%
2013 1.44% 8.5%
2012 3.29% 12.2%
2011 1.92% 10.8%
2010 1.47% 13.7%
2009 1.02% 12.5%
2008 6.36% 11.6%
2007 2.85% 5.39%
2006 2.53% 8.23%
2005 1.86% 17.9%
2004 2.76% 15%
2003 0.12% 14%
2002 1.9% 12.9%
2001 4.66% 18.9%
2000 3.78% 6.93%
1999 2.14% 6.62%
1998 10.7% 10%
1997 8.6% 8.53%

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

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

Over the past 28 years, the Czech Republic has recorded an average annual inflation rate of 3.62%, compared with 13.3% in Nigeria. In 2024, inflation was 2.44% in the Czech Republic and 33.2% in Nigeria.

Top exports between countries

Czech Republic
Export category Export value
Machinery & equipment $42.4M
Manufacturing & construction services $22.3M
Textiles & consumer goods $15.3M
Transport & tourism services $8.6M
IT & IP services $7.79M
Weapons & explosives $3.09M
Business & finance services $2.74M
Chemicals & pharma $2.27M
Animal & marine products $993K
Metals $882K
Nigeria
Export category Export value
Machinery & equipment $15.4M
Textiles & consumer goods $953K
Raw agricultural goods $26K

Balance of trade

Czech Republic Nigeria
Current account balance
$6.05B
2024
$17.2B
2024
Current account balance ranking
31/190
2024
20/190
2024
Current account balance, % of GDP
+1.74%
2024
+6.82%
2024
Goods imports
$179B
2024
$39.8B
2024
Goods exports
$197B
2024
$53B
2024
Service imports
$38B
2024
$17.9B
2024
Service exports
$42.5B
2024
$4.57B
2024
Imports of goods and services, % of GDP
62.6%
2024
16.9%
1960
Exports of goods and services, % of GDP
68.9%
2024
9.24%
1960

Economic freedom indices

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

Czech Republic Nigeria
Economic freedom 73.2 54.8
Economic freedom ranking 25/197 132/197
Property rights 89.8 29.7
Government integrity 64.7 23.5
Judicial effectiveness 92.1 34.4
Tax burden 78.8 84.6
Government spending 44.2 96.3
Fiscal health 82.5 83.5
Business freedom 76.8 50.3
Labor freedom 55.1 75.4
Monetary freedom 75 56.1
Trade freedom 79.4 64.4
Investment freedom 70 30
Financial freedom 70 30

Economic freedom comparison by year

Czech Republic
Nigeria
1x
Year Economic freedom index
Czech Republic Nigeria
2026 73.2 54.8
2025 72.9 53.4
2024 70.2 53.1
2023 71.9 53.9
2022 74.4 54.4
2021 73.8 58.7
2020 74.8 57.2
2019 73.7 57.3
2018 74.2 58.5
2017 73.3 57.1
2016 73.2 57.5
2015 72.5 55.6
2014 72.2 54.3
2013 70.9 55.1
2012 69.9 56.3
2011 70.4 56.7
2010 69.8 56.8
2009 69.4 55.1
2008 68.1 55.1
2007 67.4 55.6
2006 66.4 48.7
2005 64.6 48.4
2004 67 49.2
2003 67.5 49.5
2002 66.5 50.9
2001 70.2 49.6
2000 68.6 53.1
1999 69.7 55.7
1998 68.4 52.3
1997 68.8 52.8
1996 68.1 47.4
1995 67.8 47.3

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

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

The Economic Freedom Index for the Czech Republic is 73.2, ranking 25/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Czech Republic Nigeria
Services, % of GDP
60.2%
2024
53.7%
2024
Industry, % of GDP
29.2%
2024
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
1.9%
2024
25.9%
2024
GNI, Atlas method
$322B
2024
$396B
2024
GNI per capita, PPP
$54,800
2024
$8,850
2024
Total reserves including gold
$146B
2024
$38.6B
2024
Total reserves ranking
22/177
2024
51/177
2024
Net foreign direct investment
-$1.87B
2024
-$672M
2024
Net inflows of foreign direct investment
$13.1B
2024
$1.08B
2024
Net outflows of foreign direct investment
$11.2B
2024
$408M
2024
Servicing debt to the IMF, % of GNI n/a
5.48%
2024
Poverty at national poverty lines
10.2%
2021
56.2%
2023
Gross capital formation, % of GDP
26.3%
2024
n/a

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/nigeria | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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 (2022–2024, 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.

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.