The Euro 2024 soccer championship is right here. The Czech Republic will problem Portugal, Turkey and Georgia in Group F. We’ll see how effectively the groups play soccer on the sector, however chances are you’ll be questioning how the nation stands in financial comparability. What do the financial indicators of the Czech Republic and Portugal appear like? Our comparability consists of indicators equivalent to inflation, GDP or unemployment. The 2 nations will sq. off on Tuesday from 9pm of their first Euro 2024 match.
Euro 2024 will function two groups whose house states, regardless of all their variations, have comparatively comparable key financial indicators. Earlier than you activate the soccer, take a look at our infographic to check the nations:
Czech Republic vs. Portugal: How is the economic system doing?
gross home product (GDP)
Gross home product is the entire worth of all items and providers produced in a rustic over a time period, often a yr. GDP is used to measure a rustic’s financial efficiency and consists of family consumption, funding, authorities spending and web exports (exports minus imports).
Transformed to US {dollars}, the Czech Republic has a better GDP per capita in 2024 (50,474 in comparison with 47,070) and a better complete GDP (331 billion in comparison with 287 billion) for final yr than Portugal. These indicators testify to the upper financial efficiency of the Czech Republic.
Nonetheless, GDP within the first quarter of 2024 within the Czech Republic grew by solely 0.5 %. And that is lower than in Portugal, the place progress within the first quarter of 2024 was 0.7 %. Greater GDP progress signifies that Portugal is at present creating quicker economically than the Czech Republic.
Unemployment
How are the Czech Republic and Portugal doing within the context of the labor market? The unemployment fee within the Czech Republic is 3.7 %, which is considerably decrease than in Portugal, the place it reaches 6.3 %. Decrease unemployment within the Czech Republic signifies a greater scenario on the labor market.
Inflation
12 months-on-year inflation within the Czech Republic in Could 2024 was 2.6 %, whereas in Portugal it rose to three.1 %. A comparability of the inflation fee exhibits that Could costs rose extra year-on-year in Portugal.
Human Improvement Index (HDI)
From the standpoint of human growth, the Czech Republic and Portugal are doing very effectively. The HDI is the geometric imply of the normalized indices for every of the next three dimensions:
- wholesome and lengthy life
- entry to training
- way of life
The ensuing worth varies between 0 and 1. Based mostly on this worth, the states are labeled into considered one of 4 ranges of growth inside the HDI. The HDI subsequently serves as an indicator of the usual of residing and the general maturity of the state. 4 HDI grades have the next values:
- Low Human Improvement: 0-0.55
- Medium Human Improvement: 0.55–0.69
- Excessive Human Improvement: 0.7-0.79
- Very Excessive Human Improvement: 0.8–1
In 2022, the Czech Republic was within the thirty second place of growth inside the HDI with a price of 0.895. Portugal follows in forty second place with a price of 0.874. Each nations thus belong to the states with very excessive human growth inside the index.
EURO 2024 on iSport.cz
Watch soccer on the EURO 2024 championship on the web site isport.cz:
