Published: Monday, 21th October 2024
The Standard of living in Taiwan is 1.30 times lesser as compared to Czech Republic.
In this page, you will find side-by-side Standard of Living comparison between Taiwan and Czech Republic. 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 Taiwan and Czech Republic.
 Indicators  | Taiwan  | Czech Republic  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $751.930 billion USD | $325.880 billion USD |
GDP Per Capita (2023)  | 32,339 USD | 29,800 USD |
GINI Ratio (2023)  | 0.34 | 0.24 |
Inflation on Consumer Prices (2023)  | Yet to Update | 10.66 % annually |
Central Government Debt (2023)  | Yet to Update | 14.1 % of GDP |
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 Taiwan is $751.930 billion USD and that of Czech Republic is $325.880 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 Taiwan contributes more to the country's economy compared to a person working in Czech Republic.
Indicators | Taiwan | Czech Republic |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.926 | 0.895 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.75 |
Literacy Rate (2023)  | 99% (15 years+ above age) | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 81.3 years | 77.1 years |
Healthy Life Expectancy Ratio (2023)  | 73 years | 66.7 years |
Poverty Ratio (2023)  | Yet to Update | 10.2% of total Population |
Unemployment Rate (2023)  | Yet to Update | 2.59% 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 Taiwan is [ 0.926 ] and the HDI of Czech Republic is [ 0.895 ].
The data shows that the people living in Taiwan has better income, life expectancy and education level compared to Czech Republic.
Indicators | Taiwan | Czech Republic |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 94.9 % of GDP |
Total Health Expenditure (2023)  | 6.5 % of GDP | 9.49 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 2 % of GDP |
Government Expenditure on Education (2023)  | Yet to Update | 5.05 % of GDP |
International Tourism Expenditure (2023)  | Yet to Update | 3,495 million USD |
Number of International Tourists Arrivals (2023)  | Yet to Update | 37,202,000 |
Military Expenditure (2023)  | Yet to Update | 1.36 (% of GDP) |
Indicators | Taiwan | Czech Republic |
|---|---|---|
Number of Doctors (2023)  | 2.3 (Per 10,000 People) | 42.5 (Per 10,000 People) |
Number of Nurses (2023)  | 6.7 (Per 10,000 People) | 93.6 (Per 10,000 People) |
Number of Pharmacists (2023)  | 1.1 (Per 10,000 People) | 7.15 (Per 10,000 People) |
Available Hospital Beds (2023)  | Yet to Update | 6.62 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 99 % of total Population |
Taiwan has 18.48 times less Doctors compared to Czech Republic (Per 10,000 People).
Taiwan has 13.97 times less Nurses compared to Czech Republic (Per 10,000 People).
Indicators | Taiwan | Czech Republic |
|---|---|---|
Agricultural Land (2023)  | Yet to Update | 35,297.97 Sq Km |
Forest Area (2023)  | Yet to Update | 26,789 Sq Km |
CO2 Emissions (2023)  | Yet to Update | 0.19 kg per PPP $ of GDP |
Access to Electricity (2023)  | Yet to Update | 100 % of total Population |
Access to Internet (2023)  | Yet to Update | 84.54 % of total Population |
Annual Fresh Water Withdrawals (2023)  | Yet to Update | 1.37 Billion cubic meters |
Indicators | Taiwan | Czech Republic |
|---|---|---|
Time Required to Start a Business (2023)  | Yet to Update | 24.5 Days |
New Businesses Registered (2023)  | Yet to Update | 27,121 (New Businesses) |
New Businesses Registration Density (2023)  | Yet to Update | 4.06 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | Yet to Update | 1.1 % of GNI Per Capita |
Indicators | Taiwan | Czech Republic |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 66.91 % of GDP |
Total Fuel Imports (2023)  | Yet to Update | 6.1 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | Yet to Update |
Time to Import Border Compliance (2023)  | Yet to Update | Yet to Update |
Cost to Import Documentary Compliance (2023)  | Yet to Update | Yet to Update |
Time to Import Documentary Compliance (2023)  | Yet to Update | 0.5 Hour |
Indicators | Taiwan | Czech Republic |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 72.01 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | 1.92 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Cost to Export Documentary Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Documentary Compliance (2023)  | Yet to Update | 0.5 Hour |
Indicators | Taiwan | Czech Republic |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 28.93 % of GDP |
Tax Revenue (2023)  | Yet to Update | 13.13 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | Yet to Update | 25.53 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 0.38 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | Yet to Update | 230 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 0.82 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Taiwan and Czech Republic.
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