Croatia Croatia vs Hungary Hungary development indicators, 2024

Indicator
Croatia
Croatia, Value
Hungary
Hungary, Value
Croatia
Croatia, Rank
Hungary
Hungary, Rank
Croatia Croatia as % of
Hungary Hungary
Current account balance (% of GDP) -1.13 2.28 63 37
Exports of goods and services (% of GDP) 49.8 74.7 39 17 66.7 %
Foreign direct investment, net inflows (% of GDP) 5.04 -14.7 21 107
GDP per capita (current US$) 23,931 23,311 50 54 103 %
GDP per capita, PPP (current international US$) 48,575 47,636 46 47 102 %
Imports of goods and services (% of GDP) 52.9 69.1 52 23 76.6 %
Inflation, consumer prices (annual %) 2.97 3.7 80 58 80.2 %
Net migration -5,186 16,223 139 41
Population, total 3,866,300 9,562,314 129 96 40.4 %

Demography and Health

In terms of population, Croatia has a total population of approximately 3.9 million, whereas Hungary boasts a larger population of about 9.6 million. When considering birth rates, Croatia's crude birth rate stands at 8.3 per 1,000 people, slightly lower than Hungary's 9.1, indicating a trend of lower fertility in Croatia. The crude death rate for both countries is rather similar, with Croatia at 13.3 and Hungary at 13.4 per 1,000 people. Notably, Croatia outperforms Hungary in life expectancy, boasting 78.5 years compared to Hungary's 76.8 years. This suggests better overall health outcomes in Croatia. The under-five mortality rate in Croatia is also slightly higher at 4.6 per 1,000 live births compared to Hungary's 3.8, indicating that while both nations have similar health challenges, Hungary might be doing better in addressing infant health.

Economy

Croatia's GDP per capita stands at a current value of $23,931, marginally higher than Hungary's $23,311, placing them at ranks 80 and 84, respectively. When adjusted for purchasing power parity (PPP), Croatia again leads with $48,575 against Hungary's $47,636. However, Croatia has a much lower rate of exports of goods and services relative to GDP at 49.8% compared to Hungary's robust 74.7%, reflecting a more diversified or integrated economy in Hungary. Furthermore, Croatia's net foreign direct investment inflows are positive at 5% of GDP, contrasting with Hungary's negative inflows of -14.7%, indicating potential challenges in attracting foreign capital.

Trade and Investment

In trade, Croatia's imports of goods and services comprise 52.9% of its GDP, which is also lower than Hungary's 69.1%, reinforcing Hungary's stronger economic integration in global markets. High-technology exports also highlight a significant disparity, with Croatia's figures at $1.7 billion in contrast to Hungary's $24.4 billion, indicating a more developed high-tech sector in Hungary. This scenario might point to differences in industrial focus, with Croatia needing to bolster its high-tech industry to enhance economic competitiveness.

Governance and Institutions

Governance in Croatia displays some promising metrics, such as a government effectiveness score of 0.7 compared to Hungary's lower score of 0.4, suggesting a more effective administration in Croatia. However, both countries grapple with challenges in controlling corruption, where Croatia's score of 0.2 suggests moderate issues, while Hungary's score of -0 indicates severe challenges. The overall political stability score suggests a slightly more stable environment in Hungary with a score of 0.7 versus Croatia's 0.6. Regulatory quality is also higher in Croatia (0.6) compared to Hungary's 0.3, which may encourage better business operations in Croatia.

Infrastructure and Technology

In terms of infrastructure, Croatia's logistics performance index is at 3.0, which is slightly lower than Hungary's 3.1, though both scores indicate an average level of performance in trade and transport-related infrastructure. This marginal difference points towards a slightly more efficient logistics and transport system in Hungary, potentially reflecting better road and rail networks. Both countries have made similar investments in research and development, recording 1.4% of GDP, which underscores their commitment to technological advancement.

Environment and Sustainability

Environmental performance is particularly noteworthy in Croatia, which has a high percentage of renewable energy consumption at 34.1%, compared to Hungary's 15.3%. This suggests a stronger commitment to sustainable energy practices in Croatia. Moreover, Croatia's level of water stress reflects healthier management of freshwater resources, with a withdrawal rate of 1.5% of available resources compared to Hungary's 8.1%, putting Croatia in a better position regarding environmental sustainability. Both countries exhibit similar total greenhouse gas emissions per capita, with Croatia's emissions at 6.5 t CO2e and Hungary's at 6.4 t CO2e, indicating neither nation has significant advantages in this area.