Austria vs Lithuania development indicators, 2024

Indicator	Austria, Value	Lithuania, Value	Austria, Rank	Lithuania, Rank	Austria as % of Lithuania
Current account balance (% of GDP)	2.42	2.48	36	35	97.9 %
Exports of goods and services (% of GDP)	56.9	74.1	31	19	76.8 %
Foreign direct investment, net inflows (% of GDP)	1.78	4.24	62	24	42.1 %
GDP per capita (current US$)	56,833	29,386	15	44	193 %
GDP per capita, PPP (current international US$)	71,618	54,414	20	37	132 %
Imports of goods and services (% of GDP)	53.6	68.9	48	24	77.8 %
Inflation, consumer prices (annual %)	2.94	0.716	82	145	410 %
Net migration	8,813	2,617	47	61	337 %
Population, total	9,178,482	2,888,055	98	138	318 %

Demography and Health

Austria and Lithuania exhibit some interesting demographic disparities. Austria has a birth rate of 8.5 per 1,000 people, compared to Lithuania's 7.2, reflecting a slightly healthier reproductive trend in Austria. The death rate, however, is notably higher in Austria at 9.8 per 1,000 people versus Lithuania's 12.9, indicating a longer life expectancy in the former, which aligns with the life expectancy rates of 81.5 years for Austria and 77 years for Lithuania. Both countries share a prevalence of undernourishment at 2.5% of the population. The under-5 mortality rate is relatively low in both nations, with Austria at 3.1 and Lithuania at 3.4 per 1,000 live births. The suicide mortality rate, however, starkly highlights Lithuania's struggle with mental health, standing at 22.1 per 100,000 compared to Austria’s 14.5, emphasizing a critical area for intervention and support.

Economy

The economic landscape between Austria and Lithuania demonstrates significant differences in wealth and development. Austria boasts a GDP per capita of $56,833, markedly higher than Lithuania’s $29,386, positioning Austria 19th globally against Lithuania’s 63rd rank. Furthermore, Austria's GDP per capita in terms of purchasing power parity (PPP) is also superior at $71,618 compared to Lithuania's $54,414, highlighting a higher standard of living. In terms of inflation, Austria enjoys a rate of 2.9%, while Lithuania's stands considerably lower at 0.7%, indicating economic stability. However, the poverty headcount ratio is higher in Austria at 14.8%, compared to Lithuania's 20.9%, which may reflect higher living costs rather than a genuine lack of wealth.

Trade and Investment

When it comes to trade, Lithuania has a more export-oriented economy than Austria. Exports of goods and services comprise 74.1% of Lithuania’s GDP, significantly more than Austria’s 56.9%. The country also shows higher imports as a percentage of GDP at 68.9%, compared to Austria's 53.6%. This indicates a reliance on external markets for economic activity. In terms of foreign direct investment, Lithuania outperforms Austria, with net inflows at 4.2% of GDP against Austria’s 1.8%. However, Austria's high-technology exports are considerably more substantial, reaching $27.3 billion compared to Lithuania's $3.7 billion, which reflects Austria's strength in technological innovation.

Governance and Institutions

Governance indicators suggest that Austria generally performs better than Lithuania. Austria has a control of corruption score of 1.1, while Lithuania scores 0.8, indicating fewer corruption issues. The government effectiveness score also favors Austria at 1.3, compared to Lithuania's 1.1. The rule of law is another critical area where Austria excels, achieving a score of 1.7, making it 11th globally, whereas Lithuania stands at 1.3 in the 31st position. Political stability appears equal for both countries, with a score of 0.7. Such governance structures influence economic stability and citizen trust within both nations.

Infrastructure and Technology

Infrastructure quality between the two countries varies, with Austria displaying superior logistics performance. The logistics performance index, a measure of trade and transport-related infrastructure, stands at 3.9 for Austria and 3.5 for Lithuania, ranking them 7th and 16th, respectively. This indicates that Austria has more efficient systems in place for moving goods and services, essential for economic success. Moreover, Austria leads in patent applications at 1,872 versus Lithuania's 81, showcasing a greater emphasis on innovation and technological advancement.

Environment and Sustainability

Regarding environmental sustainability, both nations show some commitment to renewable energy, with Austria consuming 36% of its total energy from renewable sources compared to Lithuania’s 33.2%. However, Austria’s per capita greenhouse gas emissions are slightly higher at 8 tons compared to Lithuania's 7.2 tons, suggesting areas for improvements in carbon footprint management. Additionally, Austria also demonstrates a concerning level of water stress, withdrawing 8.7% of its freshwater resources against Lithuania's lower figure of 1.8%. This difference points towards a crucial need for better water resource management strategies in Austria going forward.