Austria vs Belgium development indicators, 2024

Indicator	Austria, Value	Belgium, Value	Austria, Rank	Belgium, Rank	Austria as % of Belgium
Current account balance (% of GDP)	2.42	-0.855	36	61
Exports of goods and services (% of GDP)	56.9	79.2	31	13	71.9 %
Foreign direct investment, net inflows (% of GDP)	1.78	-5.35	62	104
GDP per capita (current US$)	56,833	55,955	15	16	102 %
GDP per capita, PPP (current international US$)	71,618	72,126	20	19	99.3 %
Imports of goods and services (% of GDP)	53.6	79.2	48	12	67.7 %
Inflation, consumer prices (annual %)	2.94	3.14	82	76	93.5 %
Net migration	8,813	36,243	47	30	24.3 %
Population, total	9,178,482	11,876,844	98	81	77.3 %

Demography and Health

Austria has a birth rate of 8.5 per 1,000 people, compared to Belgium's higher rate of 9.4, placing Austria at the 50th rank globally and Belgium at 32nd. The death rate in Austria is slightly higher at 9.8 per 1,000 people, whereas Belgium's is 9.4, ranking Austria at 54 and Belgium at 64. Life expectancy at birth is 81.5 years in Austria, while it reaches 82.4 years in Belgium, indicating that Belgians tend to live slightly longer. In terms of child mortality, Austria shows a lower under-5 mortality rate at 3.1 per 1,000 live births, compared to Belgium's 3.6. Net migration shows a stark contrast, with Austria experiencing an inflow of 8,813 while Belgium has a considerably larger influx of 36,243, implying a greater attractiveness for migrants in Belgium. Suicide mortality rate data indicates that Austria is performing better with a rate of 14.5 per 100,000 population, compared to Belgium's 18.4.

Economy

In 2024, the GDP per capita in Austria is projected to be $56,833, slightly higher than Belgium's $55,955, ranking Austria 19th globally versus Belgium's 21st. When looking at GDP per capita in PPP terms, Austria's figure is $71,618 compared to Belgium's $72,126, with both countries ranking closely at 17th and 16th respectively. While Austria's economy is characterized by robust exports at 56.9% of GDP, Belgium significantly outstrips this metric with 79.2%, ranking 39th compared to Austria's 66th. Inflation rates are relatively similar; Austria's rate is 2.9% compared to Belgium's 3.1%, with both countries ranking in the lower half globally. However, Austria has a significant advantage in its domestic general government health expenditure per capita in PPP, at $6,178 against Belgium's $5,555, ranking Austria 10th globally, reflecting a stronger commitment to healthcare funding.

Trade and Investment

In terms of foreign direct investment, Austria has a net inflow percentage of 1.8% of GDP, while Belgium reports a negative 5.4%. This represents a stark contrast in attractiveness to foreign investors, with Austria ranking 79th and Belgium at 95th. On the flip side, Belgium's dominance in high-technology exports is notable, with $50.6 billion reported, while Austria's high-tech exports stand at $27.3 billion. Belgium ranks higher at 16th globally in high-tech exports compared to Austria's 26th. Both countries maintain a high level of imports, with Austria at 53.6% of GDP and Belgium at 79.2%, showcasing the interdependence with international markets.

Governance and Institutions

Austria demonstrates stronger control of corruption with a score of 1.1 against Belgium's score of 1.3, placing Austria at 33rd in the global rankings compared to Belgium's 27th. Government effectiveness is slightly better in Austria at 1.3, as opposed to Belgium's 1.0, reflecting a more efficient governance structure. Political stability is also a strength for Austria, which has a score of 0.7 compared to Belgium's 0.4. Regulatory quality scores reveal Austria at 1.4, ahead of Belgium's 1.2, while the rule of law is notably stronger in Austria with a score of 1.7 versus Belgium's 1.3. Unemployment rates are relatively similar, with Austria at 5.3% and Belgium at 5.5%, reinforcing their comparable labor market conditions.

Infrastructure and Technology

In logistics performance, Austria scores 3.9, slightly lower than Belgium's 4.1, indicating a marginally better quality of trade and transport-related infrastructure in Belgium. Austria demonstrates significant strength in research and development expenditure, allocating 3.2% of GDP, which is slightly lower than Belgium's 3.4%, indicating more robust R&D investment in Belgium. Furthermore, patent applications, where Austria leads with 1,872 compared to Belgium's 799, underline Austria's innovative capabilities, ranking higher globally in this respect as well.

Environment and Sustainability

Austria significantly outperforms Belgium in renewable energy consumption, integrating 36% of its total final energy consumption from renewable sources compared to Belgium's mere 11.7%. Austria ranks 6th in the world due to this strong commitment to sustainability. Water stress is markedly less in Austria, with only 8.7% of water resources withdrawn, while Belgium faces a more critical challenge at 51.9%. In terms of greenhouse gas emissions, Austria emits 8 tons of CO2 per capita, whereas Belgium's emissions are higher at 9 tons per capita, showcasing a better environmental performance in Austria. Together, these statistics indicate Austria's stronger commitment to environmental sustainability and better resource management.