Published: Monday, 21th October 2024
The Standard of living in Czech Republic is 1.72 times better as compared to Laos.
In this page, you will find side-by-side Standard of Living comparison between Czech Republic and Laos. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Czech Republic and Laos.
 Indicators  | Czech Republic  | Laos  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $325.880 billion USD | $14.244 billion USD |
GDP Per Capita (2023)  | 29,800 USD | 1,878 USD |
GINI Ratio (2023)  | 0.24 | 0.36 |
Inflation on Consumer Prices (2023)  | 10.66 % annually | 31.23 % annually |
Central Government Debt (2023)  | 14.1 % of GDP | Yet to Update |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Czech Republic is $325.880 billion USD and that of Laos is $14.244 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Czech Republic contributes more to the country's economy compared to a person working in Laos.
Indicators | Czech Republic | Laos |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.895 | 0.620 |
Human Capital Index (HCI) (2024)  | 0.75 | 0.46 |
Literacy Rate (2023)  | 99% (15 years+ above age) | 87.52% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 77.1 years | 68.2 years |
Healthy Life Expectancy Ratio (2023)  | 66.7 years | 60.4 years |
Poverty Ratio (2023)  | 10.2% of total Population | 18.3% of total Population |
Unemployment Rate (2023)  | 2.59% of total labor force | 1.18% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Czech Republic is [ 0.895 ] and the HDI of Laos is [ 0.620 ].
The data shows that the people living in Czech Republic has better income, life expectancy and education level compared to Laos.
Indicators | Czech Republic | Laos |
|---|---|---|
Gross National Expenditure (2023)  | 94.9 % of GDP | 108.67 % of GDP |
Total Health Expenditure (2023)  | 9.49 % of GDP | 2.74 % of GDP |
Research and Development Expenditure (2023)  | 2 % of GDP | 0.04 % of GDP |
Government Expenditure on Education (2023)  | 5.05 % of GDP | 1.39 % of GDP |
International Tourism Expenditure (2023)  | 3,495 million USD | 260 million USD |
Number of International Tourists Arrivals (2023)  | 37,202,000 | 886,400 |
Military Expenditure (2023)  | 1.36 % of GDP | 0.19 (% of GDP) |
The total Gross National Expenditure of Czech Republic is 94.9% of its GDP and the total Gross National Expenditure of Laos is 108.67% of its GDP.
From the above data, we can say that Czech Republic spends 1.15 times less of its GDP on Gross National Expenditure compared to Laos.
Indicators | Czech Republic | Laos |
|---|---|---|
Number of Doctors (2023)  | 42.5 (Per 10,000 People) | 3.27 (Per 10,000 People) |
Number of Nurses (2023)  | 93.6 (Per 10,000 People) | 11.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | 7.15 (Per 10,000 People) | 2.27 (Per 10,000 People) |
Available Hospital Beds (2023)  | 6.62 (Per 1000 People) | 1.5 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 99 % of total Population | 78.4 % of total Population |
Czech Republic has 13.00 times more Doctors compared to Laos (Per 10,000 People).
Czech Republic has 7.93 times more Nurses compared to Laos (Per 10,000 People).
Indicators | Czech Republic | Laos |
|---|---|---|
Agricultural Land (2023)  | 35,297.97 Sq Km | 20,310 Sq Km |
Forest Area (2023)  | 26,789 Sq Km | 165,610 Sq Km |
CO2 Emissions (2023)  | 0.19 kg per PPP $ of GDP | 0.33 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 84.54 % of total Population | 62 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 1.37 Billion cubic meters | 7.35 Billion cubic meters |
100% of the total Population of Czech Republic has access to the electricity in their homes, whereas, in case of Laos, 100% of the total Population has access to electricity.
Indicators | Czech Republic | Laos |
|---|---|---|
Time Required to Start a Business (2023)  | 24.5 Days | 173 Days |
New Businesses Registered (2023)  | 27,121 (New Businesses) | 699 (New Businesses) |
New Businesses Registration Density (2023)  | 4.06 (Per 1000 People) | 0.15 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 1.1 % of GNI Per Capita | 4.6 % of GNI Per Capita |
In the year 2023, 27,121 new businesses got registered in Czech Republic and 699 new businesses got registered in Laos.
It usually takes 24.5 days in Czech Republic and 173 days in Laos to register a new business legally and systematically.
Indicators | Czech Republic | Laos |
|---|---|---|
Imports of Goods and Services (2023)  | 66.91 % of GDP | 41.88 % of GDP |
Total Fuel Imports (2023)  | 6.1 % of Merchandise Imports | 14.32 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 223.5 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 10.5 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 115 USD |
Time to Import Documentary Compliance (2023)  | 0.5 Hour | 60 Hours |
Indicators | Czech Republic | Laos |
|---|---|---|
Exports of Goods and Services (2023)  | 72.01 % of GDP | 33.21 % of GDP |
Total Fuel Exports (2023)  | 1.92 % of Merchandise Exports | 27.42 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | 140 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 9 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 235 USD |
Time to Export Documentary Compliance (2023)  | 0.5 Hour | 60 Hours |
Indicators | Czech Republic | Laos |
|---|---|---|
Gross National Savings (2023)  | 28.93 % of GDP | 17.64 % of GDP |
Tax Revenue (2023)  | 13.13 % of GDP | 12.11 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 1.58 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 25.53 % of Tax Revenue | 53.89 % of Tax Revenue |
Taxes on International Trade (2023)  | 0.38 % of Revenue | 8.08 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 230 Hours | 362 Hours |
Customs and Other Import Duties (2023)  | 0.82 % of Tax Revenue | 8.29 % of Tax Revenue |
The taxes charged by Czech Republic on international trade is 0.38% of the total revenue and the taxes charged by Laos on international trade is 8.08% of the total revenue.
The Taxes charged on International Trade by Czech Republic is 21.26 times less of its total revenue than of Laos.
We hope you enjoyed the detailed guide on the standard of living comparsion between Czech Republic and Laos.
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