Croatia Croatia vs Luxembourg Luxembourg development indicators, 2024

Indicator
Croatia
Croatia, Value
Luxembourg
Luxembourg, Value
Croatia
Croatia, Rank
Luxembourg
Luxembourg, Rank
Croatia Croatia as % of
Luxembourg Luxembourg
Current account balance (% of GDP) -1.13 13.8 63 7
Exports of goods and services (% of GDP) 49.8 216 39 1 23.1 %
GDP per capita (current US$) 23,931 137,517 50 2 17.4 %
GDP per capita, PPP (current international US$) 48,575 150,772 46 1 32.2 %
Imports of goods and services (% of GDP) 52.9 183 52 1 29 %
Inflation, consumer prices (annual %) 2.97 2.05 80 112 145 %
Net migration -5,186 5,677 139 53
Population, total 3,866,300 677,717 129 167 570 %

Demography and Health

Croatia has a crude birth rate of 8.3 per 1,000 people, which is lower than Luxembourg's 9.5, indicating a slightly lower population growth rate. In terms of mortality, Croatia's crude death rate stands at 13.3 per 1,000 people, significantly higher than Luxembourg's 6.6, suggesting that health outcomes in Luxembourg are better overall. Life expectancy at birth in Croatia is 78.5 years, which is also lower than Luxembourg's 83.4 years, implying a healthier population in Luxembourg. Furthermore, the under-5 mortality rate in Croatia is 4.6 per 1,000 live births, which is higher compared to Luxembourg's 2.3, indicating better healthcare for children in Luxembourg. Croatia's net migration is negative at -5,186, whereas Luxembourg enjoys a positive migration balance of 5,677, potentially contributing to population growth and diversity.

Economy

Croatia's GDP per capita is $23,931 in 2024, contrasting sharply with Luxembourg's $137,517, which is among the highest globally. This substantial difference reflects Luxembourg's advanced and diverse economy. When considering GDP per capita in purchasing power parity (PPP), Croatia's $48,575 still falls significantly short compared to Luxembourg's $150,772. Croatia's exports form 49.8% of GDP, while in Luxembourg, they account for a staggering 216%. Similarly, imports are 52.9% of GDP in Croatia against Luxembourg's 183%, indicating a reliance on trade and possibly importation for economic growth.

Trade and Investment

Croatia's high-technology exports are valued at $1.7 billion, slightly behind Luxembourg's $801.2 million. However, considering the GDPs and overall population, Luxembourg ranks higher in terms of high-tech innovation output relative to its size. Furthermore, Croatia's current account balance is -1.1% of GDP, suggesting it imports more than it exports, while Luxembourg maintains a strong current account surplus of 13.8% of GDP. This reflects Luxembourg's robust trade position and investment climate.

Governance and Institutions

In terms of governance quality, Croatia scores lower than Luxembourg across several indicators. Croatia's score for Control of Corruption is 0.2 compared to Luxembourg's 1.9, indicating greater challenges in governance and transparency in Croatia. The Government Effectiveness Index reflects a similar trend, with Croatia scoring 0.7 while Luxembourg scores 1.9. Political stability is also a concern; Croatia's score of 0.6 is below Luxembourg's 1.1, suggesting a more stable and peaceful political environment in the latter nation. Regulatory quality and the rule of law further illustrate this gap, with Croatia scoring 0.6 and 0.4 respectively, compared to Luxembourg’s impressive 1.9 and 1.8, underscoring superior institutional frameworks in Luxembourg.

Infrastructure and Technology

In terms of infrastructure, Croatia's logistics performance index stands at 3, whereas Luxembourg outperforms with a score of 3.6. This suggests that trade and transport-related infrastructure in Luxembourg is superior, which is critical for economic efficiency. Research and development expenditure as a percentage of GDP shows Croatia investing 1.4%, whereas Luxembourg is at 1%, reflecting a more substantial commitment towards innovation in the latter. Croatia’s patent applications are relatively higher with 77 applications in 2021 compared to Luxembourg's 112, indicating an active engagement in technological advancements, although with lower economic returns likely.

Environment and Sustainability

On environmental sustainability, Croatia shows a stronger commitment to renewable energy, consuming 34.1% of total final energy consumption from renewable sources compared to Luxembourg’s 20.5%. This positions Croatia favorably in the context of global sustainability efforts. However, when it comes to greenhouse gas emissions, Croatia emits 6.5 tons CO2e per capita, which is better than Luxembourg's 11.8 tons, indicating further room for improvement in Luxembourg's environmental impact. Additionally, Hungary faces a lower level of water stress, with its freshwater withdrawal as a proportion of available resources sitting at 1.5% compared to Luxembourg’s 4%, indicating a more sustainable management of water resources in Croatia.