Bulgaria vs Hungary development indicators, 2024

Demography and Health

Bulgaria has a birth rate of 8.9 per 1,000 people, slightly lower than Hungary's rate of 9.1. In terms of death rates, Bulgaria has a higher crude death rate at 15.7 compared to Hungary's 13.4, indicating a greater challenge in health outcomes. Life expectancy at birth shows that Bulgarians live an average of 75.7 years, while Hungarians live slightly longer at 76.8 years. Furthermore, Bulgaria exhibits a notable infant mortality rate with 6.1 deaths per 1,000 live births compared to Hungary's 3.8, suggesting a more pressing issue with child healthcare. A net migration figure of 524 for Bulgaria contrasts sharply with Hungary's 16,223, indicating a more significant loss of population or lower immigration rates in Bulgaria. Suicide mortality rates also paint a concerning picture for both nations, with Bulgaria at 9.5 per 100,000 population, while Hungary suffers a higher rate at 16.4, urging a need for mental health initiatives in both countries.

Economy

Bulgaria's GDP per capita stands at $17,412, significantly lower than Hungary's $23,311, reflecting a disparity in economic prosperity. When considering GDP per capita in terms of purchasing power parity (PPP), Bulgaria's figure of $41,086 is still lower than Hungary’s $47,636, further emphasizing economic differences. Industrial capacity in Bulgaria is highlighted through the export of high technologies, which is significantly lower at $3.2 billion versus Hungary’s impressive $24.4 billion. Inflation rates in Bulgaria show a more favorable situation at 2.4% compared to Hungary’s 3.7%. This indicates a better control over rising prices in Bulgaria, benefiting consumers and stability.

Trade and Investment

Bulgaria's reliance on exports is expressed in its exports of goods and services, which account for 55.8% of GDP, whereas Hungary's exports are considerably higher at 74.7% of GDP. In terms of net foreign direct investment inflows, Bulgaria achieves a positive 3.1% of GDP, in stark contrast to Hungary's negative -14.7%, suggesting a potentially unfavorable investment climate in Hungary. Imports comprise 53.5% of Bulgaria's GDP compared to 69.1% for Hungary, indicating Bulgaria's comparatively balanced trade position at present.

Governance and Institutions

In terms of governance, Bulgaria fares poorly with a Control of Corruption score of -0.1 compared to Hungary's -0, which, while both are low, suggests slightly less corruption in Hungary. Government effectiveness ratings are also revealing, as Bulgaria scores 0 versus Hungary's 0.4. On the matter of political stability, Bulgaria has a score of 0.3, again lower than Hungary's 0.7, indicating better governance quality in Hungary. Rule of law ratings indicate significant challenges for Bulgaria, with a score of -0 in contrast to Hungary’s 0.4.

Infrastructure and Technology

The logistics performance index, reflecting the quality of trade and transport-related infrastructure, is the same for both countries at 3.1. This indicates that both Bulgaria and Hungary possess similarly efficient infrastructure. However, Bulgaria's research and development expenditure at 0.8% of GDP is notably lower than Hungary's 1.4%. This suggests that Hungary is more committed to innovation, which is essential for long-term economic growth and technological advancement.

Environment and Sustainability

Bulgaria's renewable energy consumption stands higher at 20.4% compared to Hungary’s 15.3%, reflecting a commitment to greener energy sources. Nevertheless, Bulgaria faces a significant issue with water stress, with 37.5% of freshwater resources being withdrawn compared to Hungary's far lower rate of 8.1%. Greenhouse gas emissions per capita also illustrate environmental concerns, as Bulgaria emits 8.3 tons of CO2 per capita, more than Hungary’s 6.4 tons, necessitating efforts for sustainability in Bulgaria.