Bulgaria Bulgaria vs Slovakia Slovakia development indicators, 2024

Indicator
Bulgaria
Bulgaria, Value
Slovakia
Slovakia, Value
Bulgaria
Bulgaria, Rank
Slovakia
Slovakia, Rank
Bulgaria Bulgaria as % of
Slovakia Slovakia
Current account balance (% of GDP) -1.79 -2.75 71 80 65.3 %
Exports of goods and services (% of GDP) 55.8 85.2 33 9 65.5 %
Foreign direct investment, net inflows (% of GDP) 3.12 2.53 40 46 123 %
GDP per capita (current US$) 17,412 26,148 62 46 66.6 %
GDP per capita, PPP (current international US$) 41,086 47,181 56 49 87.1 %
Imports of goods and services (% of GDP) 53.5 85 49 11 62.9 %
Inflation, consumer prices (annual %) 2.45 2.76 97 92 88.7 %
Net migration 524 -21,027 74 170
Population, total 6,444,366 5,422,069 110 119 119 %

Demography and Health

Bulgaria has a slightly lower birth rate at 8.9 per 1,000 people compared to Slovakia's 9, positioning it 45th in the world while Slovakia ranks 40th. The death rate in Bulgaria is notably higher at 15.7 per 1,000 people compared to Slovakia's rate of 10, leading to a higher ranking for Bulgaria at 9th globally for death rates against Slovakia's 51st. Both countries have the same under-5 mortality rate of 6.1 per 1,000 live births, indicating similar health outcomes for young children. Life expectancy in Bulgaria stands at 75.7 years, lower than Slovakia's 78 years, and reflects broader health system challenges. The prevalence of undernourishment is lower in Bulgaria at 2.5% compared to 3.6% in Slovakia, which suggests a better food security situation in Bulgaria. Net migration is positive in Bulgaria (+524), contrasting with Slovakia's negative migration (-21,027), indicating a more favorable immigration landscape for Bulgaria.

Economy

Bulgaria's GDP per capita is $17,412, which is significantly lower than Slovakia's $26,148, ranking them at 103rd and 73rd worldwide respectively. When adjusted for purchasing power parity (PPP), Bulgaria's GDP per capita stands at $41,086, again lower than Slovakia's $47,181. Bulgaria's high-technology exports are valued at $3.2 billion, while Slovakia excels with $10.1 billion, placing Bulgaria at 57th and Slovakia at 41st in terms of technological development. Inflation is slightly lower in Bulgaria at 2.4% compared to Slovakia's 2.8%. Foreign direct investment (FDI) inflows are more favorable for Bulgaria at 3.1% of GDP whereas Slovakia's FDI inflows are at 2.5%, showcasing a potentially more attractive investment landscape in Bulgaria. The unemployment rate is also lower in Bulgaria at 4.3%, against Slovakia's 5.8%.

Trade and Investment

In terms of trade, Bulgaria's exports of goods and services account for 55.8% of GDP, while Slovakia leads with a much higher 85.2%. Conversely, Bulgaria's imports are at 53.5% of GDP, slightly lower than Slovakia's 85%. This suggests a significant dependency on trade for both economies, though Slovakia has a more substantial international trade engagement. The current account balance for Bulgaria stands at -1.8%, which is an improvement compared to Slovakia's -2.7%, indicating a more stable macroeconomic situation regarding trade deficits.

Governance and Institutions

In governance, Bulgaria faces challenges, as reflected by its control of corruption index at -0.1 and government effectiveness score of 0, ranking lower than Slovakia in both categories at 0.3 and 0.2 respectively. Political stability also reflects a gap, with Bulgaria at 0.3 compared to Slovakia’s 0.6. Regulatory quality in Bulgaria is rated at 0.4, in contrast to Slovakia's 0.6. The rule of law in Bulgaria is weak with a score of -0, whereas Slovakia has a stronger position with 0.6. These rankings indicate a significant disparity in governance effectiveness between the two nations, with Slovakia demonstrating more robust institutional integrity.

Infrastructure and Technology

The logistics performance index, which assesses the quality of trade and transport-related infrastructure, gives Bulgaria a score of 3.1 against Slovakia's 3.3. This marginal difference points to slightly better infrastructure quality in Slovakia. Research and development expenditure as a percentage of GDP is at 0.8% for Bulgaria and 1% for Slovakia, indicating greater investment in innovative capacities in Slovakia.

Environment and Sustainability

In environmental metrics, both countries show similar greenhouse gas emissions, at 8.3 tons CO2e per capita for both Bulgaria and Slovakia. Renewable energy consumption is better in Bulgaria at 20.4% compared to Slovakia's 17.9%, indicating a stronger commitment to sustainable energy practices. The level of water stress in Bulgaria, with 37.5% of freshwater resources withdrawn, is starkly lower than Slovakia's 2.4%, suggesting potential challenges related to water resource management in Bulgaria. Overall, environmental sustainability practices appear to be more developed in Bulgaria, despite its higher water stress levels.