Austria vs Luxembourg development indicators, 2024

Demography and Health

Austria has a birth rate of 8.5 per 1,000 people, which is lower than Luxembourg's 9.5, ranking Austria at 50th and Luxembourg at 28th. The death rate in Austria is higher at 9.8 per 1,000 compared to Luxembourg's 6.6, which places Austria at 54th rank and Luxembourg at 80th. Consequently, life expectancy at birth is also slightly lower in Austria at 81.5 years compared to Luxembourg's 83.4 years, ranking Austria at 34th and Luxembourg at 4th. In terms of child mortality, Austria records a rate of 3.1 under-5 deaths per 1,000 live births, whereas Luxembourg shows a better performance with 2.3, ranking Austria at 56th against Luxembourg's 72nd. Both countries have a prevalence of undernourishment of 2.5%, which is relatively low for both.

Economy

Austria's GDP per capita in 2024 is $56,833, significantly lower than Luxembourg's remarkable $137,517, which places Austria at 19th rank, while Luxembourg holds the first spot. When assessed on purchasing power parity (PPP), Austria's GDP per capita stands at $71,618 against Luxembourg's $150,772, again showcasing Luxembourg's straightforward economic advantage. The unemployment rate is nearly similar, with Austria at 5.3% and Luxembourg at 5.2%. In terms of inflation, Austria faces a 2.9% rate compared to Luxembourg's lower 2.1%.

Trade and Investment

Austria's exports contribute approximately 56.9% of its GDP, whereas Luxembourg boasts an extraordinary 216%, highlighting Luxembourg's status as a global trade hub. In terms of imports, Austria’s imports comprise 53.6% of GDP, while Luxembourg stands at a staggering 183%. The high-tech export figures present a marked difference, where Austria exports $27.3 billion against Luxembourg's $801.2 million, ranking Austria at 26th and Luxembourg at 79th. Furthermore, Austria ranks 6th in patent applications with 1,872 applications, significantly ahead of Luxembourg, which stands at 20th with only 112 applications.

Governance and Institutions

When looking at governance metrics, Austria has a government effectiveness score of 1.3, while Luxembourg ranks higher at 1.9, reinforcing Luxembourg's efficient public structures. Austria also shows a slightly lower control of corruption score at 1.1 compared to Luxembourg's 1.9. In terms of political stability, Austria scores 0.7 on the Political Stability and Absence of Violence/Terrorism index, while Luxembourg fares better at 1.1. Regulatory quality is another area where Luxembourg excels, attaining the highest score of 1.9 compared to Austria's 1.4. However, both countries rank fairly highly in the rule of law, with Austria at 11th and Luxembourg at 8th.

Infrastructure and Technology

Austria ranks impressively at 7th in the Logistics Performance Index for quality of trade and transport-related infrastructure with a score of 3.9, slightly better than Luxembourg’s 3.6 at 13th. Internet usage in Austria is also commendable, with 94.9% of the population having access, while Luxembourg leads with 98.8% Internet penetration. Research and development expenditure as a percentage of GDP is another area of strength for Austria, which invests 3.2%, significantly higher than Luxembourg's mere 1%.

Environment and Sustainability

Austria demonstrates its commitment to renewable energy with a consumption rate of 36% of total final energy, positioning it at 6th place, compared to Luxembourg's 20.5% at 13th rank. However, Austria also emits 8 tons of CO2e per capita, which is lower than Luxembourg's 11.8 tons per capita; nonetheless, both countries rank fairly well within their contexts. Austria faces 8.7% of freshwater resources stress while Luxembourg is significantly better off at 4%, highlighting Austria's need to manage its water resources more effectively. On current health expenditure, Austria invests 10.9% of GDP in healthcare, illustrating a strong emphasis on public health compared to Luxembourg’s 5.8%, which may reflect differing public health priorities.