Belgium Belgium vs Slovenia Slovenia development indicators, 2024

Indicator
Belgium
Belgium, Value
Slovenia
Slovenia, Value
Belgium
Belgium, Rank
Slovenia
Slovenia, Rank
Belgium Belgium as % of
Slovenia Slovenia
Current account balance (% of GDP) -0.855 4.46 61 25
Exports of goods and services (% of GDP) 79.2 81.5 13 12 97.2 %
Foreign direct investment, net inflows (% of GDP) -5.35 2.69 104 44
GDP per capita (current US$) 55,955 34,089 16 36 164 %
GDP per capita, PPP (current international US$) 72,126 56,531 19 34 128 %
Imports of goods and services (% of GDP) 79.2 74.9 12 16 106 %
Inflation, consumer prices (annual %) 3.14 1.97 76 115 160 %
Net migration 36,243 3,319 30 60 1,092 %
Population, total 11,876,844 2,126,324 81 148 559 %

Demography and Health

In terms of demography, Belgium has a total population of approximately 11.9 million, significantly larger than Slovenia's 2.1 million. The crude birth rate in Belgium stands at 9.4 per 1,000 people, slightly higher than Slovenia's 8 per 1,000. However, the crude death rate in Belgium is marginally lower at 9.4 per 1,000 compared to Slovenia's 10.2 per 1,000, indicating a relatively healthier demographic trend in Belgium. Life expectancy at birth is similar, with Belgium at 82.4 years and Slovenia at 82 years. The under-five mortality rate is better in Slovenia, where it stands at 2.2 per 1,000 live births compared to Belgium's 3.6. The suicide mortality rate is slightly lower in Slovenia (18.8 per 100,000) than in Belgium (18.4), indicating slightly better mental health outcomes in Slovenia. Moreover, both countries show a prevalence of undernourishment at 2.5%, reflecting nutritional stability.

Economy

From an economic perspective, Belgium has a GDP per capita of $55,955, significantly outpacing Slovenia's $34,089. When adjusted for purchasing power parity (PPP), Belgium's GDP per capita is $72,126, while Slovenia's stands at $56,531. Belgium's economy relies heavily on exports, which account for 79.2% of its GDP, nearly equal to Slovenia's 81.5%. However, Belgium shows a net outflow of foreign direct investment at -5.4% of GDP, contrasting with Slovenia's positive inflow of 2.7%. Moreover, the unemployment rate in Belgium is higher at 5.5% compared to Slovenia's 3.7%, indicating a stronger job market in Slovenia.

Trade and Investment

In terms of trade, both countries are heavily integrated into the global market, with exports of goods and services constituting a significant percentage of each country's GDP. Belgium's exports account for 79.2% of GDP while Slovenia's are slightly higher at 81.5%. However, Belgium contrasts with Slovenia in terms of attracting foreign direct investment, where it experiences negative net inflows (-5.4%) compared to Slovenia’s positive inflow (2.7%), suggesting better investor confidence in Slovenia. Belgium's high-technology exports valued at $50.6 billion far exceed Slovenia's $4.2 billion, indicating a more advanced industrial base in Belgium. In terms of inflation, Belgium's rate of 3.1% is higher than Slovenia's 2%, which may influence consumer spending and investment decisions.

Governance and Institutions

Governance in Belgium and Slovenia shows some notable differences. Belgium ranks higher in terms of control of corruption (1.3) versus Slovenia's 0.8. Nevertheless, Slovenia exhibits slightly better political stability with a score of 0.8 compared to Belgium's 0.4, indicating potential challenges related to governance in Belgium. Both countries have similar scores in government effectiveness. However, Belgium performs better in the regulatory quality index with a score of 1.2, while Slovenia is at 0.7. In terms of law and order, Belgium scores 1.3 compared to Slovenia's 1, indicating stronger legal frameworks in the former.

Infrastructure and Technology

Belgium demonstrates superior logistics performance with a quality index score of 4.1, compared to Slovenia's 3.6. This indicates better transport and trade-related infrastructure in Belgium, facilitating smoother trade operations. Furthermore, Belgium excels in technology adoption, with 94.6% of the population using the Internet, compared to Slovenia's 90.4%. Belgium also leads significantly in research and development expenditure, with 3.4% of GDP allocated, contrasting with Slovenia's 2.1%, reflecting a stronger commitment to innovation and technology in Belgium.

Environment and Sustainability

When considering environmental aspects, Slovenia leads in renewable energy consumption, accounting for 23.4% of its total final energy, compared to only 11.7% in Belgium. Furthermore, Slovenia exhibits a significantly lower level of water stress, with only 6.3% of freshwater resources being withdrawn, whereas Belgium faces a higher percentage at 51.9%. This suggests that Slovenia is not only more sustainable in its energy use but also more prudent in managing its freshwater resources. In terms of greenhouse gas emissions, Belgium emits 9 tons of CO2e per capita, which is higher than Slovenia’s 7.5 tons, indicating a better performance in reducing emissions for Slovenia. This reflects a more significant national commitment to sustainability and environmental management in Slovenia, although both countries are striving for improvements.