Belgium Belgium vs Sweden Sweden development indicators, 2024

Indicator
Belgium
Belgium, Value
Sweden
Sweden, Value
Belgium
Belgium, Rank
Sweden
Sweden, Rank
Belgium Belgium as % of
Sweden Sweden
Current account balance (% of GDP) -0.855 7.42 61 13
Exports of goods and services (% of GDP) 79.2 54.6 13 34 145 %
Foreign direct investment, net inflows (% of GDP) -5.35 4.37 104 22
GDP per capita (current US$) 55,955 57,723 16 14 96.9 %
GDP per capita, PPP (current international US$) 72,126 71,030 19 23 102 %
Imports of goods and services (% of GDP) 79.2 50.2 12 56 158 %
Inflation, consumer prices (annual %) 3.14 2.84 76 88 111 %
Net migration 36,243 50,115 30 24 72.3 %
Population, total 11,876,844 10,569,709 81 92 112 %

Demography and Health

Belgium and Sweden exhibit comparable demographic trends, with Belgium's crude birth rate at 9.4 per 1,000 people and Sweden's slightly higher at 9.5. Both countries face similar death rates, with Belgium reporting 9.4 and Sweden 9 per 1,000 people. In terms of life expectancy at birth, Belgium shows 82.4 years, whereas Sweden reaches a higher average of 83.3 years. Mortality rates for children under five are lower in Sweden (2.5 per 1,000 live births) compared to Belgium (3.6). The prevalence of undernourishment is identical at 2.5% for both nations, yet Belgium struggles with a higher poverty headcount ratio at 12.3% compared to Sweden’s 16.1%. Notably, Belgium has a net migration figure of 36,243, while Sweden attracts more migrants, with 50,115.

Economy

Belgium's economy exhibits strengths with a higher GDP per capita at $55,955 compared to Sweden’s $57,723. However, on a purchasing power parity (PPP) basis, Belgium's GDP per capita stands at $72,126, marginally ahead of Sweden's $71,030. Belgium boasts significantly higher exports of goods and services, constituting 79.2% of its GDP versus Sweden's 54.6%. Conversely, Belgium also faces challenges with its imports, accounting for the same percentage of GDP as exports at 79.2%, while Sweden's imports are only 50.2%. Inflation rates in Belgium (3.1%) are slightly higher than in Sweden (2.8%). The unemployment rate is also more favorable in Belgium at 5.5%, against Sweden's 7.6%.

Trade and Investment

Belgium's economy is highly export-driven, reflected in its exports of goods and services accounting for 79.2% of its GDP, demonstrating a strong trade orientation. However, it struggles with foreign direct investment (FDI), showing a negative net inflow of -5.4%, indicating capital outflow. In contrast, Sweden demonstrates a robust investment climate with positive FDI net inflows at 4.4% of GDP. Belgium holds a competitive edge in high-technology exports, generating $50.6 billion compared to Sweden's $25.2 billion. The current account balance reveals another disparity: Belgium's is -0.9% of GDP, while Sweden’s is healthier at 7.4%.

Governance and Institutions

When examining governance, Sweden exhibits stronger governance indicators overall. The control of corruption is ranked higher in Sweden (2) compared to Belgium (1.3). Similar trends are seen in government effectiveness, where Belgium's score of 1 is significantly below Sweden's 1.6. Regulatory quality in Belgium also trails behind Sweden, with ratings of 1.2 and 1.7, respectively. The rule of law receives a score of 1.3 for Belgium versus 1.6 for Sweden, demonstrating Sweden’s greater adherence to legal frameworks. Political stability ranks lower in Belgium (0.4) compared to Sweden (0.8), indicating a more stable political environment in Sweden.

Infrastructure and Technology

In terms of technology and infrastructure, both countries perform well on logistics and internet access. Belgium's logistics performance index is rated at 4.1 while Sweden slightly leads with a 4.2. Internet usage is high in both nations, with Belgium at 94.6% of the population and Sweden at 95.7%. Belgium's research and development expenditure as a percentage of GDP is commendably high at 3.4%, matching Sweden's commitment, ranking them as 2nd and 1st, respectively. Patent applications are notably more prevalent in Belgium, with 799 applications compared to Sweden's 1,771.

Environment and Sustainability

Sweden takes a notable lead in environmental sustainability, with renewable energy consumption at 57.9% of total energy use, far surpassing Belgium's mere 11.7%. However, both countries exhibit low levels of undernourishment (2.5%). The level of water stress indicates Belgium's significant challenge, with a freshwater withdrawal proportion of 51.9%, compared to Sweden's only 3.6%. This suggests potential sustainability issues for Belgium. Emission levels also highlight environmental concerns: Belgium emits 9 tons of CO2 per capita, while Sweden generates significantly less at 4.7 tons, underscoring Sweden's commitment to sustainability.