Belgium Belgium vs Italy Italy development indicators, 2024

Indicator
Belgium
Belgium, Value
Italy
Italy, Value
Belgium
Belgium, Rank
Italy
Italy, Rank
Belgium Belgium as % of
Italy Italy
Current account balance (% of GDP) -0.855 1.13 61 45
Exports of goods and services (% of GDP) 79.2 32.7 13 77 242 %
Foreign direct investment, net inflows (% of GDP) -5.35 0.918 104 74
GDP per capita (current US$) 55,955 40,226 16 28 139 %
GDP per capita, PPP (current international US$) 72,126 60,847 19 30 119 %
Imports of goods and services (% of GDP) 79.2 30.4 12 96 260 %
Inflation, consumer prices (annual %) 3.14 0.982 76 141 320 %
Net migration 36,243 95,246 30 19 38.1 %
Population, total 11,876,844 58,986,023 81 25 20.1 %

Demography and Health

Belgium has a crude birth rate of 9.4 per 1,000 people compared to Italy's 6.4, indicating a higher birth rate in Belgium, ranking it 32nd globally against Italy's 81st. In terms of death rates, Belgium's rate is 9.4 per 1,000, whereas Italy's is higher at 11.2, placing Belgium 64th and Italy 38th. Life expectancy at birth in Belgium is 82.4 years, while in Italy, it's slightly higher at 83.7 years, positioning Belgium 18th and Italy 2nd in the world. The under-5 mortality rate is lower in Belgium at 3.6 per 1,000 live births compared to Italy's 2.8. However, they share the same prevalence of undernourishment at 2.5% of the population. Belgium faces a higher suicide mortality rate at 18.4 per 100,000 compared to Italy’s 7. This suggests that while Belgium has a favorable birth rate, it grapples with higher mortality rates, particularly in mental health.

Economy

Belgium's GDP per capita stands at $55,955, significantly higher than Italy's $40,226, ranking Belgium 21st and Italy 42nd globally. In terms of GDP per capita adjusted for purchasing power parity (PPP), Belgium also outperforms Italy with $72,126 against Italy's $60,847, placing Belgium 16th and Italy 39th. However, Belgium struggles with net foreign direct investment inflows at -5.4% of GDP, contrasting with Italy's positive 0.9%, ranking Belgium 95th and Italy 86th. Furthermore, the unemployment rate in Belgium is 5.5%, better than Italy's 7.6%, ranking Belgium 48th and Italy 11th. This suggests a stronger economic performance in Belgium when measured through GDP and employment metrics, though it faces challenges in attracting foreign investments.

Trade and Investment

Belgium exports a large portion of its goods and services, accounting for 79.2% of its GDP, significantly eclipsing Italy’s 32.7%, where it ranks 39th compared to Italy’s 106th position. Conversely, Belgium also has imports that mirror its exports, maintaining the same percentage for imports at 79.2%. This dependency highlights Belgium's strong integration into international trade. In terms of high-technology exports, Belgium reported $50.6 billion against Italy's $52.2 billion, showing Belgium ranks 16th globally while Italy is 15th. Belgium's trade structure demonstrates a robust engagement with global markets, indicating its economic orientation towards trade.

Governance and Institutions

Belgium ranks relatively well regarding governance, particularly in control of corruption, rated at 1.3, compared to Italy's 0.6, ranking 27th against Italy's 53rd. Belgium's government effectiveness score is 1.0, surpassing Italy’s 0.6, ranking 40th and 58th, respectively. The rule of law in Belgium is also strong at 1.3, compared to Italy's 0.4, giving Belgium a rank of 29th against Italy’s 69th. However, political stability is slightly lower in Belgium at 0.4 compared to Italy's 0.6, ranking 69th and 53rd respectively. This data indicates that Belgium exhibits a more robust framework of governance, yet faces challenges in political stability.

Infrastructure and Technology

Belgium demonstrates superior logistics performance with a quality score of 4.1, ranking 5th globally, compared to Italy's 3.8, which ranks it 8th. In terms of internet usage, Belgium's rate is 94.6% of the population, surpassing Italy’s 87%, placing Belgium 19th and Italy 61st globally. Belgium's higher investment in research and development, which stands at 3.4% of GDP compared to Italy’s 1.4%, indicates a more innovation-oriented environment. Belgium’s strong infrastructure and technological engagement provide it with vital advantages in economic competition and efficiency.

Environment and Sustainability

In the realm of sustainability, Belgium utilizes 11.7% of its total energy from renewable sources, lagging behind Italy’s 17.5%. Belgium faces a high level of water stress with a withdrawal rate of 51.9% of available freshwater resources, ranking it 2nd globally, compared to Italy's 29.6%, which ranks it 8th. The total greenhouse gas emissions in Belgium are 9 tons CO2e per capita compared to Italy’s 6.3 tons, indicating a larger environmental footprint for Belgium. These figures highlight potential areas for Belgium to improve its sustainability practices while also showcasing Italy's strengths in renewable energy adoption.