Austria Austria vs Croatia Croatia development indicators, 2024

Indicator
Austria
Austria, Value
Croatia
Croatia, Value
Austria
Austria, Rank
Croatia
Croatia, Rank
Austria Austria as % of
Croatia Croatia
Current account balance (% of GDP) 2.42 -1.13 36 63
Exports of goods and services (% of GDP) 56.9 49.8 31 39 114 %
Foreign direct investment, net inflows (% of GDP) 1.78 5.04 62 21 35.4 %
GDP per capita (current US$) 56,833 23,931 15 50 237 %
GDP per capita, PPP (current international US$) 71,618 48,575 20 46 147 %
Imports of goods and services (% of GDP) 53.6 52.9 48 52 101 %
Inflation, consumer prices (annual %) 2.94 2.97 82 80 98.9 %
Net migration 8,813 -5,186 47 139
Population, total 9,178,482 3,866,300 98 129 237 %

Demography and Health

Austria and Croatia exhibit similar birth rates, with Austria at 8.5 per 1,000 people and Croatia at 8.3. However, the death rate is significantly higher in Croatia at 13.3 compared to Austria's 9.8, indicating potential public health challenges in Croatia. Life expectancy at birth also favors Austria, with 81.5 years versus Croatia's 78.5 years. Austria has a lower under-5 mortality rate at 3.1 compared to Croatia's 4.6, reflecting better healthcare for children. Both countries have a prevalence of undernourishment at 2.5%, signaling a low level of food insecurity. In terms of net migration, Austria experiences a positive influx of 8,813 people while Croatia faces negative migration trends, losing 5,186 individuals, which may impact its labor force and demographic structure.

Economy

Austria has a significantly higher GDP per capita at $56,833, ranking 19th globally, strongly outperforming Croatia's $23,931 (rank 80). In terms of purchasing power parity (PPP), Austria leads with $71,618 compared to Croatia's $48,575. The high-technology export sector also showcases Austria’s economic strength with $27.3 billion against Croatia’s mere $1.7 billion. Both countries maintain a close ratio of exports to GDP, Austria at 56.9% and Croatia at 49.8%, indicating a strong reliance on global markets. Austria's inflation rate stands at 2.9%, slightly lower than Croatia's 3%, presenting a more stable economic environment. The poverty headcount ratio is lower in Austria at 14.8% compared to Croatia's 18%, indicating higher general economic stability in Austria.

Trade and Investment

The landscape of foreign direct investment (FDI) reveals Austria's challenges with net inflows at 1.8% of GDP, significantly lower than Croatia's 5%. This may reflect stronger investment incentives or opportunities in Croatia, despite its economic challenges. Austria's imports of goods and services comprise 53.6% of GDP, while Croatia’s is slightly lower at 52.9%, showing similar dependencies on foreign products and services.

Governance and Institutions

Factors of governance reveal Austria as performing better than Croatia across multiple dimensions. Austria ranks higher in the Control of Corruption index at 1.1 compared to Croatia's 0.2, indicating a more transparent governance framework. Government effectiveness is rated at 1.3 in Austria, whereas Croatia stands at 0.7. These figures suggest a more capable and efficient administrative structure in Austria. Additionally, Austria's Rule of Law score of 1.7 compared to Croatia’s 0.4 signifies stronger legal frameworks and enforcement. Political stability is similarly favorable in Austria, with a score of 0.7 compared to Croatia's 0.6, indicating that both countries face some challenges in this area.

Infrastructure and Technology

Austria possesses better logistics performance, scoring 3.9 in 2022 versus Croatia's 3. This attribute enhances Austria's trade efficiency and contributes to its economic advantages. Furthermore, Austria invests significantly more in research and development at 3.2% of GDP, in contrast to Croatia's 1.4%. This disparity indicates that Austria is more committed to innovation and technological advancement, which can have long-term positive effects on its economy.

Environment and Sustainability

In terms of environmental performance, both nations are similar in renewable energy consumption, with Austria leading at 36% versus Croatia's 34.1%. However, Austria has a higher level of water stress: freshwater withdrawal at 8.7%, while Croatia is relatively low at 1.5%. Total greenhouse gas emissions per capita are more favorable in Croatia at 6.5 tons compared to Austria's 8.0 tons, reflecting a lesser environmental footprint. Both countries share a commitment to sustainability, but Austria's higher emissions signal challenges in meeting environmental goals.