The Czech Republic has a GDP of $347B compared to $120B for Venezuela, ranking 44/197 and 65/197 by economy size, respectively.
The Czech Republic has $149B in government debt (45.6% of GDP), compared to $197B (216.7% of GDP) in Venezuela.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Czech Republic
|
Venezuela
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $7,663,938,303 | $33,195,620,728 |
| 1961 | - | - | $8,067,267,031 | $34,255,397,373 |
| 1962 | - | - | $8,814,309,884 | $37,178,387,741 |
| 1963 | - | - | $9,608,717,288 | $38,628,698,490 |
| 1964 | - | - | $8,192,413,793 | $42,927,819,727 |
| 1965 | - | - | $8,427,777,778 | $44,714,847,624 |
| 1966 | - | - | $8,781,333,333 | $45,390,153,660 |
| 1967 | - | - | $9,250,000,000 | $46,676,451,168 |
| 1968 | - | - | $10,034,444,444 | $50,101,210,987 |
| 1969 | - | - | $10,285,111,111 | $50,454,943,972 |
| 1970 | - | - | $11,561,111,111 | $54,345,986,052 |
| 1971 | - | - | $12,986,590,909 | $55,149,921,447 |
| 1972 | - | - | $13,977,727,273 | $55,857,387,416 |
| 1973 | - | - | $17,035,581,395 | $59,828,824,143 |
| 1974 | - | - | $26,100,930,233 | $61,066,881,865 |
| 1975 | - | - | $27,464,651,163 | $62,835,536,182 |
| 1976 | - | - | $31,419,534,884 | $67,691,302,950 |
| 1977 | - | - | $36,210,697,674 | $71,936,078,015 |
| 1978 | - | - | $39,316,279,070 | $73,624,343,220 |
| 1979 | - | - | $48,310,930,233 | $74,187,094,675 |
| 1980 | - | - | $59,116,511,628 | $70,907,044,067 |
| 1981 | - | - | $66,327,441,860 | $69,993,533,420 |
| 1982 | - | - | $67,736,744,186 | $71,844,719,792 |
| 1983 | - | - | $67,556,279,070 | $64,764,041,716 |
| 1984 | - | - | $59,867,743,468 | $68,146,604,686 |
| 1985 | - | - | $61,965,466,667 | $68,737,739,371 |
| 1986 | - | - | $60,516,123,711 | $72,916,862,078 |
| 1987 | - | - | $48,029,034,483 | $76,417,654,524 |
| 1988 | - | - | $60,226,413,793 | $81,392,715,710 |
| 1989 | - | - | $43,536,709,104 | $70,063,088,335 |
| 1990 | $41,016,881,802 | $122,972,963,913 | $48,606,952,195 | $74,594,665,387 |
| 1991 | $30,071,014,282 | $108,689,725,031 | $53,453,444,787 | $81,852,658,918 |
| 1992 | $35,051,065,440 | $108,139,165,551 | $60,416,519,620 | $86,813,216,021 |
| 1993 | $41,155,654,032 | $108,206,108,282 | $60,037,460,783 | $87,052,308,655 |
| 1994 | $48,188,478,339 | $111,354,158,853 | $58,418,666,667 | $85,007,160,806 |
| 1995 | $60,572,381,311 | $118,281,953,160 | $77,389,487,770 | $88,366,311,675 |
| 1996 | $67,804,105,330 | $123,212,636,053 | $70,543,211,119 | $88,191,409,486 |
| 1997 | $62,539,765,163 | $122,478,487,836 | $85,837,678,560 | $93,810,088,635 |
| 1998 | $67,187,217,328 | $121,996,963,424 | $91,336,763,255 | $94,085,942,042 |
| 1999 | $65,586,562,605 | $123,678,521,512 | $97,972,842,462 | $88,468,580,251 |
| 2000 | $62,175,642,238 | $128,638,858,401 | $117,146,466,003 | $91,730,367,410 |
| 2001 | $68,135,304,464 | $132,391,536,300 | $122,911,036,747 | $94,843,912,662 |
| 2002 | $82,607,869,610 | $134,395,228,572 | $92,893,587,734 | $86,444,870,221 |
| 2003 | $100,435,924,705 | $138,831,395,778 | $83,620,628,582 | $79,740,811,158 |
| 2004 | $120,147,899,984 | $145,406,922,288 | $112,451,400,425 | $94,322,699,665 |
| 2005 | $137,264,185,596 | $154,676,655,550 | $145,513,489,652 | $104,054,834,514 |
| 2006 | $156,236,258,387 | $164,921,158,025 | $183,477,522,124 | $114,327,282,932 |
| 2007 | $190,040,702,287 | $173,973,393,346 | $230,364,012,576 | $124,335,011,743 |
| 2008 | $236,506,264,754 | $178,518,044,754 | $315,953,388,511 | $130,897,232,287 |
| 2009 | $206,971,882,705 | $169,952,170,271 | $329,787,628,928 | $126,705,506,739 |
| 2010 | $211,168,667,286 | $174,565,802,522 | $393,192,354,511 | $124,819,126,241 |
| 2011 | $231,429,378,717 | $177,659,773,383 | $316,482,190,800 | $130,032,103,882 |
| 2012 | $210,363,223,088 | $176,290,606,022 | $372,592,062,768 | $137,347,654,100 |
| 2013 | $213,024,360,541 | $176,216,894,660 | $258,930,655,486 | $139,192,362,251 |
| 2014 | $210,911,285,078 | $180,173,337,875 | $214,689,614,733 | $133,771,673,722 |
| 2015 | $189,107,698,562 | $189,107,698,562 | $125,449,241,571 | $125,449,241,571 |
| 2016 | $198,160,659,304 | $193,988,322,685 | $112,915,034,262 | $104,072,271,055 |
| 2017 | $221,563,575,696 | $204,024,435,233 | $115,883,275,163 | $87,762,679,936 |
| 2018 | $251,992,360,762 | $209,798,950,825 | $102,021,093,965 | $70,512,625,399 |
| 2019 | $256,794,209,029 | $217,279,912,682 | $73,014,084,091 | $51,010,266,125 |
| 2020 | $251,109,660,603 | $205,753,475,018 | $42,838,020,721 | $35,707,915,777 |
| 2021 | $290,972,714,482 | $214,043,320,221 | $56,614,976,855 | $36,049,081,141 |
| 2022 | $301,831,228,326 | $220,137,498,831 | $89,013,255,585 | $38,933,336,799 |
| 2023 | $345,059,295,660 | $220,242,240,981 | $102,376,526,556 | $40,491,326,652 |
| 2024 | $347,034,062,928 | $222,958,017,485 | $119,802,963,258 | $42,637,366,965 |
Economic indicators
|
Czech Republic
|
Venezuela
|
|
|---|---|---|
| Gross domestic product |
$347B
2024 |
$120B
2024 |
| GDP rank |
44/197
2024 |
65/197
2024 |
| GDP growth |
0.57%
2023-2024 |
17%
2023-2024 |
| GDP per capita |
$31,823
2024 |
$4,218
2024 |
| GDP per capita rank |
39/197
2024 |
128/197
2024 |
| GDP per capita, PPP |
$56,687
2024 |
$21,241
2011 |
| Government debt |
$149B
2024 |
$197B
2024 |
| Debt-to-GDP ratio |
45.6%
2026 |
216.7%
2026 |
| Government debt per person |
$13,680
2024 |
$6,928
2024 |
| Government debt per person rank |
43/185
2024 |
69/185
2024 |
| Average annual personal income after taxes |
$21,451
2026 |
$4,514
2026 |
| Market capitalization of domestic companies |
$34.6B
2024 |
$3.98B
2002 |
| Number of billionaires |
11
2025 |
1
2025 |
| Income share by richest 10% |
21.5%
2023 |
33.2%
2006 |
| Income share by poorest 10% |
3.8%
2023 |
1.2%
2006 |
| Government expenditure, % of GDP |
42.7%
2026 |
14.8%
2026 |
| Consumer prices inflation |
2.44%
2023-2024 |
682%
2025-2026 |
| Central bank interest rate |
3.5%
2025 |
n/a |
| Unemployment rate |
2.6%
2024 |
7.53%
2020 |
| Population |
10693675
|
28635082
|
GDP per capita in Czech Republic vs Venezuela
The Czech Republic's GDP per capita is $31,823, ranking 39/197, compared to $4,218 in Venezuela, ranking 128/197. Adjusted for purchasing power (GDP per capita PPP), the Czech Republic ranks 35th at $56,687, while Venezuela ranks 93rd at $21,241.
| Year | Current $ | |||
|---|---|---|---|---|
|
Czech Republic
|
Venezuela
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $939 | - |
| 1961 | - | - | $954 | - |
| 1962 | - | - | $1,007 | - |
| 1963 | - | - | $1,060 | - |
| 1964 | - | - | $874 | - |
| 1965 | - | - | $869 | - |
| 1966 | - | - | $876 | - |
| 1967 | - | - | $893 | - |
| 1968 | - | - | $938 | - |
| 1969 | - | - | $932 | - |
| 1970 | - | - | $1,015 | - |
| 1971 | - | - | $1,106 | - |
| 1972 | - | - | $1,155 | - |
| 1973 | - | - | $1,367 | - |
| 1974 | - | - | $2,034 | - |
| 1975 | - | - | $2,078 | - |
| 1976 | - | - | $2,309 | - |
| 1977 | - | - | $2,585 | - |
| 1978 | - | - | $2,727 | - |
| 1979 | - | - | $3,257 | - |
| 1980 | - | - | $3,874 | - |
| 1981 | - | - | $4,228 | - |
| 1982 | - | - | $4,202 | - |
| 1983 | - | - | $4,079 | - |
| 1984 | - | - | $3,520 | - |
| 1985 | - | - | $3,549 | - |
| 1986 | - | - | $3,376 | - |
| 1987 | - | - | $2,611 | - |
| 1988 | - | - | $3,191 | - |
| 1989 | - | - | $2,250 | - |
| 1990 | $3,969 | $12,806 | $2,452 | $11,628 |
| 1991 | $2,917 | $11,730 | $2,633 | $12,880 |
| 1992 | $3,397 | $11,924 | $2,907 | $13,652 |
| 1993 | $3,984 | $12,201 | $2,825 | $13,702 |
| 1994 | $4,663 | $12,820 | $2,689 | $13,370 |
| 1995 | $5,865 | $13,948 | $3,487 | $13,890 |
| 1996 | $6,573 | $14,775 | $3,113 | $13,824 |
| 1997 | $6,069 | $14,908 | $3,711 | $14,655 |
| 1998 | $6,527 | $15,063 | $3,870 | $14,568 |
| 1999 | $6,378 | $15,494 | $4,071 | $13,623 |
| 2000 | $6,063 | $16,329 | $4,776 | $14,174 |
| 2001 | $6,669 | $17,711 | $4,920 | $14,714 |
| 2002 | $8,101 | $18,344 | $3,652 | $13,375 |
| 2003 | $9,852 | $19,607 | $3,230 | $12,359 |
| 2004 | $11,783 | $20,991 | $4,269 | $14,757 |
| 2005 | $13,442 | $22,115 | $5,432 | $16,511 |
| 2006 | $15,259 | $23,919 | $6,739 | $18,399 |
| 2007 | $18,453 | $26,269 | $8,332 | $20,236 |
| 2008 | $22,775 | $27,938 | $11,262 | $21,402 |
| 2009 | $19,817 | $27,699 | $11,597 | $20,562 |
| 2010 | $20,160 | $28,157 | $13,646 | $20,236 |
| 2011 | $22,049 | $29,237 | $10,844 | $21,241 |
| 2012 | $20,014 | $29,466 | $12,607 | - |
| 2013 | $20,260 | $31,013 | $8,656 | - |
| 2014 | $20,038 | $32,743 | $7,096 | - |
| 2015 | $17,932 | $34,102 | $4,103 | - |
| 2016 | $18,754 | $36,445 | $3,670 | - |
| 2017 | $20,913 | $39,346 | $3,791 | - |
| 2018 | $23,706 | $41,638 | $3,423 | - |
| 2019 | $24,063 | $45,614 | $2,523 | - |
| 2020 | $23,473 | $44,839 | $1,506 | - |
| 2021 | $27,696 | $47,796 | $2,005 | - |
| 2022 | $28,282 | $51,710 | $3,155 | - |
| 2023 | $31,762 | $53,217 | $3,617 | - |
| 2024 | $31,823 | $56,687 | $4,218 | - |
Spending and national debt comparison
In 2024, the Czech Republic's government spending was $149B, accounting for 42.7% of its GDP, while Venezuela's spent $21.1B, or 14.8% of GDP.
Debt-to-GDP ratio is 45.6% in the Czech Republic and 216.7% in Venezuela, ranking 118/185 and 3/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Czech Republic
|
Venezuela
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1960 | - | - | 23.7% | 8.28% |
| 1961 | - | - | 11.8% | 8.79% |
| 1962 | - | - | 17.6% | 7.24% |
| 1963 | - | - | 18.7% | 6.3% |
| 1964 | - | - | 17.9% | 4.95% |
| 1965 | - | - | 18.7% | 5.46% |
| 1966 | - | - | 19.1% | 5.84% |
| 1967 | - | - | 19.8% | 6.74% |
| 1968 | - | - | 19.8% | 7.84% |
| 1969 | - | - | 21% | 9.91% |
| 1970 | - | - | 19.5% | 10.6% |
| 1971 | - | - | 19.6% | 9.64% |
| 1972 | - | - | 21.3% | 10.6% |
| 1973 | - | - | 20% | 9.78% |
| 1974 | - | - | 35.3% | 7.72% |
| 1975 | - | - | 33.8% | 8.31% |
| 1976 | - | - | 26.6% | 9.64% |
| 1977 | - | - | 30.6% | 12.7% |
| 1978 | - | - | 29.2% | 16.6% |
| 1979 | - | - | 22.3% | 19.2% |
| 1980 | - | - | 22% | 16.6% |
| 1981 | - | - | 29.6% | 18.9% |
| 1982 | - | - | 29% | 18.6% |
| 1983 | - | - | 25.3% | 21.4% |
| 1984 | - | - | 19.7% | 36.4% |
| 1985 | - | - | 20.3% | 34.1% |
| 1986 | - | - | 21.5% | 45.9% |
| 1987 | - | - | 25.1% | 58.3% |
| 1988 | - | - | 33.2% | 46.3% |
| 1989 | - | - | 32.5% | 61.8% |
| 1990 | - | - | 31.9% | 63.3% |
| 1991 | - | - | 33.9% | 62.2% |
| 1992 | - | - | 30.6% | 54.8% |
| 1993 | - | - | 27.7% | 57.7% |
| 1994 | - | - | 42.2% | 63.9% |
| 1995 | 52.8% | 13.5% | 32.9% | 45.9% |
| 1996 | 41.4% | 11.5% | 27.7% | 45.9% |
| 1997 | 41.3% | 12.1% | 31% | 34.8% |
| 1998 | 41.6% | 13.9% | 28.8% | 30.7% |
| 1999 | 40.9% | 15.1% | 26.1% | 29.6% |
| 2000 | 40.6% | 16.9% | 28.3% | 27.7% |
| 2001 | 43.1% | 22.6% | 31.9% | 30.7% |
| 2002 | 44.4% | 25.7% | 31% | 48.2% |
| 2003 | 49% | 28.1% | 32.2% | 56% |
| 2004 | 42.2% | 28.3% | 31.9% | 41.8% |
| 2005 | 42.3% | 27.7% | 33.5% | 34.9% |
| 2006 | 41.5% | 27.6% | 39.3% | 25.7% |
| 2007 | 40.5% | 27.3% | 35.9% | 26.4% |
| 2008 | 40.9% | 28.2% | 34.9% | 20.3% |
| 2009 | 44.5% | 33.4% | 33.3% | 27.6% |
| 2010 | 43.2% | 36.7% | 31.1% | 37.7% |
| 2011 | 42.8% | 39.4% | 39.4% | 52.5% |
| 2012 | 44.4% | 43.8% | 38% | 58.4% |
| 2013 | 42.4% | 44.1% | 36.5% | 85.4% |
| 2014 | 42.3% | 41.5% | 31.6% | 84.9% |
| 2015 | 41.7% | 39.5% | 22.9% | 129.8% |
| 2016 | 39.4% | 36.2% | 19.7% | 138.4% |
| 2017 | 38.5% | 33.8% | 21.8% | 133.6% |
| 2018 | 40.1% | 31.7% | 37.9% | 175.3% |
| 2019 | 40.4% | 29.6% | 21% | 206% |
| 2020 | 46.3% | 36.9% | 11.2% | 337% |
| 2021 | 45% | 40.7% | 13.1% | 254.2% |
| 2022 | 43% | 42.5% | 15.1% | 164.4% |
| 2023 | 43.9% | 42.4% | 13.2% | 138.5% |
| 2024 | 43% | 43% | 17.6% | 164.3% |
| 2025 | 43.3% | 44.2% | 15.7% | 192.4% |
| 2026 | 42.7% | 45.6% | 14.8% | 216.7% |
Government deficit by year
In 2024, the Czech Republic's government deficit, the difference between spending and revenue, was -$7.67B, equivalent to -2.21% of GDP. This compares to Venezuela's deficit of -$4.28B, or -3.58% of GDP.
Over the past 30 years, the Czech Republic recorded a fiscal deficit in 26 of those years, while Venezuela ran a deficit in 23 years. On average, the Czech Republic posted an annual deficit equal to -3.17% of GDP, compared to deficit of -4.93% of GDP for Venezuela.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Czech Republic
|
Venezuela
|
|
| 1920 | - | -1.75% |
| 1921 | - | -0.97% |
| 1922 | - | 1.57% |
| 1923 | - | 1.32% |
| 1924 | - | 0.37% |
| 1925 | - | 0.54% |
| 1926 | - | 0.14% |
| 1927 | - | 1.55% |
| 1928 | - | -0.68% |
| 1929 | - | -0.34% |
| 1930 | - | -2.03% |
| 1931 | - | 1.02% |
| 1932 | - | 0.51% |
| 1933 | - | 1.03% |
| 1934 | - | 1.34% |
| 1935 | - | -2.23% |
| 1936 | - | -0.52% |
| 1937 | - | 0.73% |
| 1938 | - | 0.68% |
| 1939 | - | -0.78% |
| 1940 | - | -1.07% |
| 1941 | - | 0.01% |
| 1942 | - | 0.2% |
| 1943 | - | -0.27% |
| 1944 | - | 1.85% |
| 1945 | - | 2.9% |
| 1946 | - | -0.9% |
| 1947 | - | 0.09% |
| 1948 | - | 1.27% |
| 1949 | - | 0.15% |
| 1950 | - | -0.23% |
| 1951 | - | -0.24% |
| 1952 | - | -0.5% |
| 1953 | - | 0.03% |
| 1954 | - | 1.84% |
| 1955 | - | 0.38% |
| 1956 | - | 0.76% |
| 1957 | - | 6.7% |
| 1958 | - | -4.86% |
| 1959 | - | -4.98% |
| 1960 | - | -4.08% |
| 1961 | - | -1.91% |
| 1962 | - | 2.14% |
| 1963 | - | 1.92% |
| 1964 | - | 1.91% |
| 1965 | - | 0.39% |
| 1966 | - | 0.23% |
| 1967 | - | 0.51% |
| 1968 | - | -0.32% |
| 1969 | - | -2.17% |
| 1970 | - | -1.22% |
| 1971 | - | 0.78% |
| 1972 | - | 0.42% |
| 1973 | - | 1.98% |
| 1974 | - | 2.76% |
| 1975 | - | 0.88% |
| 1976 | - | 1.65% |
| 1977 | - | -4.69% |
| 1978 | - | -5.44% |
| 1979 | - | -3.07% |
| 1980 | - | 4.41% |
| 1981 | - | 4.74% |
| 1982 | - | -0.17% |
| 1983 | - | 1.24% |
| 1984 | - | 5.33% |
| 1985 | - | 6.97% |
| 1986 | - | 0.82% |
| 1987 | - | -7.47% |
| 1988 | - | -9.24% |
| 1989 | - | -0.91% |
| 1990 | - | 3.84% |
| 1991 | - | -2.28% |
| 1992 | - | -6.37% |
| 1993 | - | -2.92% |
| 1994 | - | -11.2% |
| 1995 | -12.3% | -5.86% |
| 1996 | -2.98% | 7.94% |
| 1997 | -3.14% | 2.58% |
| 1998 | -4.14% | -4.49% |
| 1999 | -3.08% | 0.74% |
| 2000 | -3.55% | 4.45% |
| 2001 | -5.76% | -4.59% |
| 2002 | -6.34% | -1.48% |
| 2003 | -6.87% | 0.17% |
| 2004 | -2.4% | 2.47% |
| 2005 | -3.06% | 4.09% |
| 2006 | -2.19% | -1.6% |
| 2007 | -0.68% | -2.82% |
| 2008 | -2% | -3.46% |
| 2009 | -5.46% | -8.69% |
| 2010 | -4.14% | -4.74% |
| 2011 | -2.71% | -8.24% |
| 2012 | -3.92% | -9.86% |
| 2013 | -1.3% | -10.4% |
| 2014 | -2.09% | -9.81% |
| 2015 | -0.67% | -8.06% |
| 2016 | 0.68% | -8.46% |
| 2017 | 1.46% | -13.3% |
| 2018 | 0.88% | -31% |
| 2019 | 0.28% | -10.9% |
| 2020 | -5.65% | -6.63% |
| 2021 | -4.95% | -5.85% |
| 2022 | -3.07% | -5.29% |
| 2023 | -3.78% | -1.21% |
| 2024 | -2.21% | -3.58% |
| 2025 | -2.56% | -5.51% |
| 2026 | -2.09% | -5.5% |
Inflation comparison by year
Over the past 28 years, the Czech Republic has recorded an average annual inflation rate of 3.62%, compared with 3,254% in Venezuela. In 2024, inflation was 2.44% in the Czech Republic and 682% in Venezuela.
| Year | Inflation | |
|---|---|---|
|
Czech Republic
|
Venezuela
|
|
| 1997 | 8.6% | 50% |
| 1998 | 10.7% | 35.8% |
| 1999 | 2.14% | 23.6% |
| 2000 | 3.78% | 16.2% |
| 2001 | 4.66% | 12.5% |
| 2002 | 1.9% | 22.4% |
| 2003 | 0.12% | 31.1% |
| 2004 | 2.76% | 21.7% |
| 2005 | 1.86% | 16% |
| 2006 | 2.53% | 13.7% |
| 2007 | 2.85% | 18.7% |
| 2008 | 6.36% | 31.4% |
| 2009 | 1.02% | 26% |
| 2010 | 1.47% | 28.2% |
| 2011 | 1.92% | 26.1% |
| 2012 | 3.29% | 21.1% |
| 2013 | 1.44% | 40.6% |
| 2014 | 0.34% | 62.2% |
| 2015 | 0.31% | 121.7% |
| 2016 | 0.68% | 254.9% |
| 2017 | 2.45% | 438% |
| 2018 | 2.15% | 65,374% |
| 2019 | 2.85% | 19,906% |
| 2020 | 3.16% | 2,355% |
| 2021 | 3.84% | 1,589% |
| 2022 | 15.1% | 186.5% |
| 2023 | 10.7% | 338% |
| 2024 | 2.44% | 49% |
| 2025 | - | 269.9% |
| 2026 | - | 682% |
Top exports between countries
|
Czech Republic
|
|
|---|---|
| Export category | Export value |
| Business & finance services | $27.8M |
| Raw materials & minerals | $4.72M |
| Chemicals & pharma | $2.22M |
| Machinery & equipment | $896K |
| Textiles & consumer goods | $809K |
| Transport & tourism services | $527K |
| Processed food, beverages & tobacco | $459K |
| Wood & paper products | $278K |
| Animal & marine products | $257K |
| IT & IP services | $211K |
|
Venezuela
|
|
|---|---|
| Export category | Export value |
Balance of trade
|
Czech Republic
|
Venezuela
|
|
|---|---|---|
Current account balance
|
$6.05B
2024 |
-$3.87B
2016 |
| Current account balance ranking |
31/190
2024 |
161/190
2016 |
| Current account balance, % of GDP |
+1.74%
2024 |
-3.43%
2016 |
| Goods imports |
$179B
2024 |
$16.3B
2016 |
| Goods exports |
$197B
2024 |
$27.4B
2016 |
| Service imports |
$38B
2024 |
$9.47B
2016 |
| Service exports |
$42.5B
2024 |
$1.28B
2016 |
| Imports of goods and services, % of GDP |
62.6%
2024 |
9.22%
2024 |
| Exports of goods and services, % of GDP |
68.9%
2024 |
16.9%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Czech Republic
|
Venezuela
|
|
|---|---|---|
| Economic freedom | 72.9 | 27.6 |
| Economic freedom ranking | 25/197 | 194/197 |
| Property rights | 89.9 | 0.7 |
| Government integrity | 62.8 | 6.7 |
| Judicial effectiveness | 92 | 4.1 |
| Tax burden | 78.9 | 75.9 |
| Government spending | 42.2 | 93.8 |
| Fiscal health | 71.5 | 29.1 |
| Business freedom | 81.4 | 32.5 |
| Labor freedom | 57.9 | 35.9 |
| Monetary freedom | 68.9 | 0 |
| Trade freedom | 79.6 | 42.2 |
| Investment freedom | 70 | 0 |
| Financial freedom | 80 | 10 |
Economic freedom by year comparison
The Economic Freedom Index for the Czech Republic is 72.9, ranking 25/197, compared to 27.6 for Venezuela, ranking 194/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Czech Republic
|
Venezuela
|
|
| 1995 | 67.8 | 59.8 |
| 1996 | 68.1 | 54.5 |
| 1997 | 68.8 | 52.8 |
| 1998 | 68.4 | 54 |
| 1999 | 69.7 | 56.1 |
| 2000 | 68.6 | 57.4 |
| 2001 | 70.2 | 54.6 |
| 2002 | 66.5 | 54.7 |
| 2003 | 67.5 | 54.8 |
| 2004 | 67 | 46.7 |
| 2005 | 64.6 | 45.2 |
| 2006 | 66.4 | 44.6 |
| 2007 | 67.4 | 47.9 |
| 2008 | 68.1 | 44.7 |
| 2009 | 69.4 | 39.9 |
| 2010 | 69.8 | 37.1 |
| 2011 | 70.4 | 37.6 |
| 2012 | 69.9 | 38.1 |
| 2013 | 70.9 | 36.1 |
| 2014 | 72.2 | 36.3 |
| 2015 | 72.5 | 34.3 |
| 2016 | 73.2 | 33.7 |
| 2017 | 73.3 | 27 |
| 2018 | 74.2 | 25.2 |
| 2019 | 73.7 | 25.9 |
| 2020 | 74.8 | 25.2 |
| 2021 | 73.8 | 24.7 |
| 2022 | 74.4 | 24.8 |
| 2023 | 71.9 | 25.8 |
| 2024 | 70.2 | 28.1 |
| 2025 | 72.9 | 27.6 |
More economic indicators
|
Czech Republic
|
Venezuela
|
|
|---|---|---|
| Services, % of GDP |
60.2%
2024 |
51.7%
2014 |
| Industry, % of GDP |
29.2%
2024 |
37.2%
2014 |
| Agriculture, forestry, and fishing, % of GDP |
1.9%
2024 |
5.03%
2014 |
|
GNI, Atlas method
|
$322B
2024 |
$109B
2024 |
| GNI per capita, PPP |
$54,230
2024 |
$20,800
2011 |
| Total reserves including gold |
$146B
2024 |
$9.79B
2017 |
| Total reserves ranking |
22/177
2024 |
77/177
2017 |
|
Net foreign direct investment
|
-$1.87B
2024 |
-$27M
2016 |
|
Net inflows of foreign direct investment
|
$13.1B
2024 |
$1.63B
2024 |
|
Net outflows of foreign direct investment
|
$11.2B
2024 |
$2.6B
2024 |
| Poverty at national poverty lines |
10.2%
2021 |
33.1%
2015 |
|
Gross capital formation, % of GDP
|
26.3%
2024 |
4.9%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
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.