Austria vs Estonia development indicators, 2024

Indicator	Austria, Value	Estonia, Value	Austria, Rank	Estonia, Rank	Austria as % of Estonia
Current account balance (% of GDP)	2.42	-1.15	36	64
Exports of goods and services (% of GDP)	56.9	76.3	31	15	74.6 %
Foreign direct investment, net inflows (% of GDP)	1.78	-8.18	62	105
GDP per capita (current US$)	56,833	31,170	15	41	182 %
GDP per capita, PPP (current international US$)	71,618	49,334	20	44	145 %
Imports of goods and services (% of GDP)	53.6	75.7	48	15	70.8 %
Inflation, consumer prices (annual %)	2.94	3.52	82	62	83.5 %
Net migration	8,813	-7,742	47	147
Population, total	9,178,482	1,371,986	98	155	669 %

Demography and Health

Austria has a population of approximately 9.2 million, significantly larger than Estonia's 1.4 million. The crude birth rate in Austria is 8.5, slightly higher than Estonia's 8, while the crude death rate shows Austria at 9.8 compared to Estonia's higher rate of 11.7, indicating a relatively healthier demographic in Austria. Life expectancy in Austria stands at 81.5 years, exceeding Estonia's 78.5 years. However, Estonia shows a lower under-5 mortality rate at 2.1 compared to Austria's 3.1, which suggests stronger early childhood health outcomes in Estonia.

Both countries have a prevalence of undernourishment rate at 2.5%. Austria allocates significantly more to domestic general government health expenditure per capita (PPP), with $6,178 against Estonia's $2,549, reflecting a broader commitment to health services in Austria.

Economy

Austria's GDP per capita is about $56,833, markedly higher than Estonia's $31,170. This difference indicates a stronger economy in terms of income generation for individuals. In terms of GDP per capita in PPP terms, Austria again leads with $71,618 compared to Estonia's $49,334. Austrian economy is more stable, reflected in its lower inflation rate of 2.9% versus Estonia's 3.5% for the year 2024.

The net foreign direct investment inflow percentage of GDP paints a contrasting picture: Austria's 1.8% versus Estonia's negative 8.2%, indicating challenges in the business climate in Estonia. The unemployment rate is lower in Austria at 5.3% compared to 6.4% in Estonia, reflecting a healthier labor market.

Trade and Investment

Austria's exports of goods and services represent 56.9% of its GDP, while Estonia surpasses this with 76.3%. This strong trade orientation in Estonia suggests that it is potentially more integrated into global markets or specialized in high-export industries. However, Austria shows stronger figures in high-technology exports, totaling $27.3 billion compared to Estonia's modest $2.1 billion. In imports as a share of GDP, Austria again reports 53.6% versus Estonia’s 75.7%, suggesting a higher dependency on imports in Estonia.

The current account balance in Austria is positive at 2.4% of GDP, contrasting with Estonia's negative 1.1%, which reflects better external economic stability in Austria.

Governance and Institutions

In terms of governance, both countries display a level of political stability and absence of violence with a score of 0.7 for both. However, Austria scores better in the control of corruption index at 1.1, compared to Estonia's 1.5, which could indicate better governance practices and less systemic corruption. The rule of law in Austria provides a significant edge with a score of 1.7 against Estonia's 1.4, pointing towards stronger legal systems and protections in Austria. However, both countries have similar government effectiveness scores at 1.3.

Austria exhibits a higher regulatory quality score of 1.4 compared to Estonia's 1.4, with minor differences in rank indicating slight variations in regulatory frameworks.

Infrastructure and Technology

Austria holds a logistics performance index of 3.9, suggesting better quality trade and transport-related infrastructure than Estonia's 3.5. This could facilitate economic activities and enhance trade efficiency in Austria. Additionally, Austria's commitment to research and development expenditure is significant at 3.2% of GDP, leading to innovation and competitiveness compared to Estonia's 1.8%.

Moreover, patent applications from residents are notably higher in Austria, which indicates a stronger innovative capacity and higher research output in comparison to Estonia.

Environment and Sustainability

In environmental metrics, Austria's renewable energy consumption reaches 36% of total final energy consumption, slightly lower than Estonia’s 38%. However, Austria's total greenhouse gas emissions per capita are lower at 8 tons compared to Estonia's 10.5 tons, indicating more sustainable practices concerning carbon output. Water stress levels in both countries are relatively similar, with Austria at 8.7% and Estonia at 10.8%, suggesting a comparable reliance on freshwater resources in environmental management.