Belgium vs Greece development indicators, 2024

Demography and Health

Belgium and Greece have notable differences in demographic indicators and health outcomes. The birth rate in Belgium is higher at 9.4 per 1,000 people compared to Greece's 6.8, where it ranks 32nd globally against Greece's 77th. In terms of mortality, Belgium's death rate is lower at 9.4 per 1,000 people compared to Greece's 12.2, with respective ranks of 64 and 29. Life expectancy favors Belgium at 82.4 years versus Greece's 81.5 years, which ranks 18th as opposed to Greece's 35th. Interestingly, both countries share a similar prevalence of undernourishment at 2.5% of the population. Belgium has a higher health expenditure at 10.8% of GDP compared to Greece's 8.5%, and the domestic general government health expenditure per capita shows a significant disparity, standing at $5,555 in Belgium versus $1,784 in Greece. Belgium also has a lower under-5 mortality rate (3.6 per 1,000 live births) than Greece (3.7), with ranks of 38 and 32 respectively. The number of physicians per 1,000 people is significantly higher in Greece (6.4) compared to Belgium (3.2), which positions Greece first globally in this indicator.

Economy

Examining the economic landscape, Belgium demonstrates a higher GDP per capita, at $55,955, compared to Greece's $24,752, ranking 21st versus Greece's 76th. In terms of purchasing power parity, Belgium leads again with $72,126 against Greece's $44,074, indicating a stronger overall economic standing. Inflation rates are relatively controlled in both countries, with Belgium at 3.1% and Greece at 2.7%. Exports are a significant part of Belgium's economy, constituting 79.2% of GDP, while Greece's exports comprise only 42%, reflecting a lesser integration in global trade. Similarly, imports represent 79.2% of Belgium's GDP compared to Greece's 47.3%, which might suggest higher economic openness in Belgium. However, Belgium faces more substantial net outflows of foreign direct investment at -5.4% compared to Greece’s net inflow of 2.5%, which presents a more favorable investment perspective for Greece.

Trade and Investment

According to trade metrics, Belgium’s exports of goods and services represent a significant portion of its GDP, at 79.2%, while Greece lags behind at 42%. Conversely, Greece has a substantial increase in net foreign direct investment inflows at 2.5% of GDP, compared to Belgium's negative investment flow of -5.4%, indicating challenges in attracting foreign investment in Belgium. While Belgium ranks higher globally in terms of competitive export value, Greece's favorable investment climate reflects a resilience in attracting foreign capital post-recession.

Governance and Institutions

On the governance front, Belgium performs better against various governance metrics. For instance, control of corruption is rated at 1.3 in Belgium, juxtaposed with Greece's poor showing at 0.1, indicating Belgium's relatively effective institutions. Military expenditure is closely similar, with Belgium at $7.6 billion and Greece at $7.7 billion. However, Belgium's political stability (0.4) is deemed better than Greece's (0.2). Belgium also shows a stronger regulatory quality indicator (1.2 versus Greece's 0.6) as well as an adherence to the rule of law (1.3 versus 0.2). These figures illustrate a more resilient governance framework in Belgium, enhancing its attractiveness for investment and trade compared to Greece.

Infrastructure and Technology

Infrastructure quality favors Belgium significantly, with a logistics performance index of 4.1 versus Greece's 3.7, demonstrating superior trade and transport-related infrastructure. Availability and access to the internet are also higher in Belgium, with 94.6% of the population using the internet compared to 85% in Greece, indicating a more digitally engaged population. The number of patent applications per resident indicates a more innovative environment in Belgium with 799 applications compared to Greece's 394, showcasing a stronger capacity for R&D and innovation.

Environment and Sustainability

Belgium and Greece present contrasting scenarios in environmental metrics. Belgium has a higher proportion of renewable energy consumption at 11.7% compared to Greece’s 21.5%. However, Greece exhibits a lower level of total greenhouse gas emissions per capita at 6.7 t CO2e/capita against Belgium’s 9 t, suggesting better environmental performance in terms of emissions. Despite Belgium's significant water stress level at 51.9%, which ranks it second globally, Greece's level at 20.7% puts it in a comparatively better position at 12th rank. These indicators illustrate that while Belgium is advancing in renewable energy and technological development, it still faces challenges related to greenhouse emissions and freshwater resource management.