Austria Austria vs Slovenia Slovenia development indicators, 2024

Indicator
Austria
Austria, Value
Slovenia
Slovenia, Value
Austria
Austria, Rank
Slovenia
Slovenia, Rank
Austria Austria as % of
Slovenia Slovenia
Current account balance (% of GDP) 2.42 4.46 36 25 54.4 %
Exports of goods and services (% of GDP) 56.9 81.5 31 12 69.8 %
Foreign direct investment, net inflows (% of GDP) 1.78 2.69 62 44 66.3 %
GDP per capita (current US$) 56,833 34,089 15 36 167 %
GDP per capita, PPP (current international US$) 71,618 56,531 20 34 127 %
Imports of goods and services (% of GDP) 53.6 74.9 48 16 71.5 %
Inflation, consumer prices (annual %) 2.94 1.97 82 115 149 %
Net migration 8,813 3,319 47 60 266 %
Population, total 9,178,482 2,126,324 98 148 432 %

Demography and Health

Austria has a total population of approximately 9.2 million, significantly larger than Slovenia's 2.1 million. The crude birth rate is 8.5 per 1,000 people in Austria, whereas Slovenia's is slightly lower at 8 per 1,000, resulting in Austria ranked 50th and Slovenia 64th globally. Conversely, the crude death rate in Austria stands at 9.8 per 1,000 people against Slovenia’s 10.2, placing Austria at 54th and Slovenia at 49th. Life expectancy is higher in Slovenia at 82 years compared to Austria’s 81.5 years. The under-5 mortality rate demonstrates a similar trend, with Austria at 3.1 per 1,000 live births and Slovenia favorably lower at 2.2, indicating better child health performance in Slovenia. Austria has a slightly better suicide mortality rate at 14.5 per 100,000 compared to Slovenia’s 18.8, suggesting potential challenges in mental health for Slovenia.

Economy

Austria boasts a GDP per capita of $56,833, significantly higher than Slovenia's $34,089, ranking 19th globally compared to Slovenia's 52nd. In terms of purchasing power parity, Austria is even more favorable, with $71,618 versus Slovenia's $56,531. The country's exports constitute 56.9% of its GDP, while Slovenia's exports are substantially higher at 81.5%, which places it 34th in the world while Austria ranks 66th. Additionally, Slovenia's imports are also high at 74.9% of GDP compared to Austria's 53.6%. Consumer price inflation in Austria is relatively low at 2.9%, while Slovenia's inflation rate is lower at 2%, indicating economic stability in Slovenia.

Trade and Investment

Austria's high-technology exports amount to $27.3 billion, larger than Slovenia's $4.2 billion, ranking Austria 26th globally against Slovenia's 51st. In the realm of foreign direct investment (FDI), Slovenia outperforms Austria with net inflows at 2.7% of GDP compared to Austria's 1.8%, reflecting a more attractive investment environment. Current account balance shows Austria at 2.4% versus Slovenia's higher balance of 4.5%, indicating Slovenia's stronger performance in maintaining a healthy economic position. The logistics performance index favors Austria slightly with a score of 3.9 versus Slovenia's 3.6, highlighting good infrastructure and trade facilitation in Austria but still showing competent capabilities in Slovenia.

Governance and Institutions

In terms of governance, Austria ranks better in several indicators. The Control of Corruption score for Austria is 1.1, compared to Slovenia's 0.8, suggesting stronger governance mechanisms in place. Austria also leads in Government Effectiveness with a score of 1.3 against Slovenia’s 1. The Rule of Law in Austria ranks 11th globally with a score of 1.7, whereas Slovenia ranks 44th with a score of 1. Political Stability ranks slightly lower for Austria at 0.7 compared to Slovenia’s 0.8, indicating less risk of turmoil in Slovenia despite Austria's overall better governance metrics. Regulatory Quality is favorable for Austria at 1.4 against Slovenia’s 0.7, suggesting a more business-friendly regulatory environment in Austria.

Infrastructure and Technology

Austria demonstrates superior performance in patent applications with 1,872 applications, whereas Slovenia has only 222, marking Austria's strong emphasis on innovation and technology. Furthermore, research and development expenditure as a percentage of GDP is higher in Austria at 3.2% compared to Slovenia's 2.1%. The quality of trade and transport-related infrastructure as measured by the logistics performance index rates Austria higher at 3.9 compared to Slovenia's 3.6. However, both countries exhibit strong capabilities in infrastructure, contributing positively to their economic environments.

Environment and Sustainability

Austria consumes a larger share of renewable energy, making up 36% of its total final energy consumption, while Slovenia's share is lower at 23.4%. Both countries display equal levels of undernourishment among their populations at 2.5%, reflecting indicators of food security. Regarding total greenhouse gas emissions, Austria emits 8 tons of CO2e per capita, slightly higher than Slovenia's emissions of 7.5 tons per capita. In terms of environmental stress, Austria's freshwater withdrawal amounts to 8.7% of its available resources, compared to Slovenia's 6.3%, indicating potentially better management of water resources in Slovenia.