Belgium Belgium vs Slovakia Slovakia development indicators, 2024

Indicator
Belgium
Belgium, Value
Slovakia
Slovakia, Value
Belgium
Belgium, Rank
Slovakia
Slovakia, Rank
Belgium Belgium as % of
Slovakia Slovakia
Current account balance (% of GDP) -0.855 -2.75 61 80 31.1 %
Exports of goods and services (% of GDP) 79.2 85.2 13 9 93 %
Foreign direct investment, net inflows (% of GDP) -5.35 2.53 104 46
GDP per capita (current US$) 55,955 26,148 16 46 214 %
GDP per capita, PPP (current international US$) 72,126 47,181 19 49 153 %
Imports of goods and services (% of GDP) 79.2 85 12 11 93.2 %
Inflation, consumer prices (annual %) 3.14 2.76 76 92 114 %
Net migration 36,243 -21,027 30 170
Population, total 11,876,844 5,422,069 81 119 219 %

Demography and Health

Belgium has a population of approximately 11.9 million, while Slovakia's population is about 5.4 million. The crude birth rate in Belgium is 9.4 per 1,000 people compared to Slovakia's slightly lower rate of 9. The crude death rate reflects a similar pattern, with Belgium at 9.4 and Slovakia at 10. Belgium ranks higher in terms of life expectancy, averaging 82.4 years, compared to Slovakia's 78 years. Moreover, Belgium has a lower under-5 mortality rate at 3.6 per 1,000 live births versus Slovakia's 6.1. In terms of health expenditure, Belgium invests about 10.8% of its GDP in health care, compared to Slovakia's 7.7%, demonstrating a stronger commitment to healthcare resources. The number of physicians per 1,000 people is slightly lower in Belgium at 3.2 than Slovakia's 3.7. However, Belgium's suicide mortality rate is significantly higher at 18.4 per 100,000 population, whereas Slovakia’s stands at 9.9, indicating potential mental health challenges needing addressing.

In terms of undernourishment, Belgium has a lower rate at 2.5% versus Slovakia's 3.6%, suggesting better overall food security within Belgium. Slovakia performs better regarding the prevalence of undernourishment, ranking 1st against Belgium's 3rd.

Economy

The economic indicators illustrate a stark contrast between the two countries. Belgium's GDP per capita stands at $55,955, significantly higher than Slovakia's $26,148. Furthermore, Belgium's GDP per capita (PPP) is also superior at $72,126 compared to Slovakia's $47,181. Both countries export a large percentage of their GDP, but Slovakia leads with 85.2% to Belgium's 79.2%. The import rates are similar, with Belgium at 79.2% and Slovakia close behind at 85%. Belgium faces a net foreign direct investment outflow of -5.4%, contrasting with Slovakia's net inflow of 2.5%, indicating a more favorable investment climate in Slovakia. Inflation in Belgium is reported at 3.1% while Slovakia has a slightly lower rate of 2.8%. Overall, Belgium has a more robust economy, demonstrated through higher GDP per capita and economic outputs.

Trade and Investment

In terms of trade, Belgium ranks lower than Slovakia in terms of both exports and imports as a percentage of GDP, with figures of 79.2% for both categories against Slovakia's 85.2%. High-technology exports indicate a different focus, with Belgium exporting approximately $50.6 billion compared to Slovakia’s $10.1 billion, which suggests a more advanced technological industry in Belgium. The logistics performance index reveals that Belgium has a superior quality of trade and transport-related infrastructure, scoring 4.1 against Slovakia’s 3.3, which is crucial for efficient trade operations.

Governance and Institutions

Belgium ranks higher across several governance metrics compared to Slovakia. The control of corruption score for Belgium is 1.3 while Slovakia only scores 0.3. Similarly, Belgium's score for government effectiveness is 1, compared to 0.2 for Slovakia. The rule of law is also stronger in Belgium at 1.3 versus Slovakia's 0.6. However, in terms of political stability, Slovakia has a marginally better score of 0.6 compared to Belgium's 0.4. Overall, Belgium demonstrates a superior governance framework that facilitates better functioning institutions.

Infrastructure and Technology

Belgium showcases a complimentary performance in infrastructure and technology metrics. With a higher logistical performance index (4.1), the quality of trade and transport-related infrastructure in Belgium is superior, which can enhance economic productivity. The country's investment in research and development expenditure is substantially higher at 3.4% of GDP compared to Slovakia's mere 1%. Additionally, Belgium's patent applications per capita far exceed those of Slovakia, indicating a more innovative environment in Belgium.

Environment and Sustainability

When analyzing environmental metrics, Belgium has a renewable energy consumption rate of 11.7% as part of total final energy consumption, while Slovakia leads with 17.9%. However, Belgium has a higher per capita greenhouse gas emissions rate of 9 tons compared to Slovakia’s 8.3 tons. In terms of water stress, Belgium faces a critical situation, with 51.9% of freshwater withdrawal against a mere 2.4% for Slovakia, suggesting that Belgium is under significant pressure regarding its water resources. This portrays Slovakia as potentially more sustainable in managing its resources compared to Belgium.