Austria vs Spain development indicators, 2024

Indicator	Austria, Value	Spain, Value	Austria, Rank	Spain, Rank	Austria as % of Spain
Current account balance (% of GDP)	2.42	3.03	36	32	80 %
Exports of goods and services (% of GDP)	56.9	37.3	31	66	153 %
Foreign direct investment, net inflows (% of GDP)	1.78	1.89	62	58	94.4 %
GDP per capita (current US$)	56,833	35,297	15	34	161 %
GDP per capita, PPP (current international US$)	71,618	56,926	20	32	126 %
Imports of goods and services (% of GDP)	53.6	33	48	87	162 %
Inflation, consumer prices (annual %)	2.94	2.77	82	90	106 %
Net migration	8,813	111,674	47	18	7.89 %
Population, total	9,178,482	48,807,137	98	32	18.8 %

Demography and Health

Austria has a birth rate of 8.5 per 1,000 people, which is significantly higher than Spain's 6.7, placing Austria at rank 50 compared to Spain's rank of 79. The crude death rate in Austria stands at 9.8, slightly higher than Spain's 9.0, with rankings of 54 and 66, respectively. Life expectancy at birth is also notable, with Austria at 81.5 years, while Spain leads at 83.9 years, giving Spain the top rank of 1 globally in this regard. Both countries share the same mortality rate under five years, at 3.1 per 1,000 live births. Regarding health expenditure, Austria invests $6,178 per capita in health care, compared to Spain's $3,535. The prevalence of undernourishment is low in both countries at 2.5%, ranking 3rd in the world.

Economy

Austrian GDP per capita, an essential indicator of economic performance, is $56,833, significantly higher than Spain's $35,297, with Austria ranked 19th and Spain 51st. In terms of purchasing power parity (PPP), Austria also outshines Spain, with $71,618 versus $56,926. Austria boasts a higher export of goods and services relative to its GDP at 56.9%, compared to 37.3% for Spain, placing Austria at rank 66 and Spain at 98. On the other hand, inflation rates are closely aligned, showing 2.9% for Austria and 2.8% for Spain. Employment is a concern in Spain, with an unemployment rate of 12.2%, more than double Austria's 5.3%, ranking Austria at 50 and Spain at 5.

Trade and Investment

Austria's high-technology exports amount to $27.3 billion, slightly ahead of Spain's $25.8 billion, with similar global rankings of 26 and 27, respectively. Both countries benefit from foreign direct investment inflows near 1.8% of GDP for Austria and 1.9% for Spain, ranking them 79th and 77th. The current account balance reflects Austria's stability with a surplus of 2.4% of GDP compared to Spain's 3%, showcasing Austria at rank 33 and Spain at 30.

Governance and Institutions

Austria demonstrates stronger governance metrics with a control of corruption rating of 1.1 compared to Spain's 0.6, placing Austria at 33 and Spain at 50. Government effectiveness also favors Austria at 1.3 versus Spain's 0.8, ranking 23rd compared to Spain's 51st. Austria has better regulatory quality (1.4 vs. 0.7) and rule of law rating (1.7 vs. 0.8), placing Austria at 26 and 11, while Spain ranks at 60 and 51 for these metrics. Political stability shows Austria at 0.7 and Spain at 0.3, with rankings of 32 and 78 respectively, indicating a more stable governance framework in Austria than in Spain. Additionally, military expenditures are considerably lower in Austria at $4.4 billion, while Spain spends $23.7 billion, reflecting different national priorities.

Infrastructure and Technology

The logistics performance index indicates that Austria has slightly better trade and transport-related infrastructure, rated at 3.9 compared to Spain's 3.8, with respective ranks of 7 and 8. Furthermore, the research and development expenditure as a percentage of GDP is significantly higher in Austria at 3.2% compared to Spain's 1.4%, placing Austria at rank 6 and Spain at 29, which reflects a greater commitment to innovation and technology in Austria.

Environment and Sustainability

In terms of renewable energy consumption, Austria leads with 36% of its total final energy consumption sourced from renewables versus Spain's 19%, with Austria ranked 6th globally and Spain at 15. However, when considering the environmental challenges, Austria's total greenhouse gas emissions per capita are recorded at 8 tons of CO2e, slightly higher than Spain's 5.9 tons, with ranks of 38 and 67 respectively. On the topic of water stress, Austria enjoys a favorable position with only 8.7% of available freshwater resources withdrawn, while Spain faces a more severe situation at 43.3%, ranking Austria at 17th and Spain at 3rd.