Cyprus Cyprus vs Denmark Denmark development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Denmark
Denmark, Value
Cyprus
Cyprus, Rank
Denmark
Denmark, Rank
Cyprus Cyprus as % of
Denmark Denmark
Current account balance (% of GDP) -8.39 13 100 8
Exports of goods and services (% of GDP) 96.7 69.7 7 24 139 %
GDP per capita (current US$) 38,654 71,852 32 11 53.8 %
GDP per capita, PPP (current international US$) 61,240 79,514 29 13 77 %
Imports of goods and services (% of GDP) 93.1 58.9 10 36 158 %
Inflation, consumer prices (annual %) 1.8 1.37 117 129 131 %
Net migration 8,138 25,639 48 34 31.7 %
Population, total 1,358,282 5,976,992 157 114 22.7 %

Demography and Health

Cyprus has a crude birth rate of 10.8 per 1,000 people, slightly higher than Denmark's 9.7, ranking it 7th compared to Denmark’s 24th. The death rate in Cyprus is 7.1 per 1,000 people, which is lower than Denmark's 9.8, placing Cyprus 75th and Denmark 54th respectively. In terms of life expectancy, both countries show similar figures; Cyprus at 81.6 years and Denmark at 81.9 years, ranking 31st and 27th respectively. The under-five mortality rate is comparable as well, with Cyprus at 3.5 per 1,000 live births and Denmark at 3.4, ranking 42nd and 47th. The prevalence of undernourishment stands at 2.5% for both countries, showcasing a strong food security situation. Cyprus, however, has a higher poverty headcount ratio at 13.9% versus Denmark's 12.4%, indicating slightly greater economic vulnerability in Cyprus.

Economy

In terms of economic performance, Cyprus has a GDP per capita of $38,654, significantly lower than Denmark's $71,852, ranking 45th compared to Denmark's 9th. The GDP per capita, when adjusted for purchasing power parity (PPP), shows Cyprus at $61,240 and Denmark at $79,514, placing them 38th and 10th respectively. Cyprus exhibits a high dependency on exports, with exports comprising 96.7% of GDP, surpassing Denmark's 69.7%. Conversely, Cyprus's imports also represent a high percentage of GDP at 93.1%, in contrast to Denmark's 58.9%. Inflation rates are relatively low in both countries, with Cyprus at 1.8% and Denmark at 1.4%, reflecting stable economic conditions. Both nations face unemployment rates around 5%, with Cyprus at 5.8% and Denmark at 5.1%, indicating comparable labor market challenges.

Trade and Investment

Cyprus scores strongly in international trade, with export values representing a major portion of its GDP, ranking it 16th globally. Despite this strong trade presence, Cyprus struggles with a current account deficit of -8.4%, a stark contrast to Denmark's current account surplus of 13%, which ranks as the 2nd highest in the world. Cyprus’s high-technology exports are minimal at $107.3 million compared to Denmark's substantial $16.1 billion, indicating room for improvement in technological advancement and innovation in Cyprus, which ranks 81st globally in high-tech exports.

Governance and Institutions

The governance and institutional framework demonstrates notable differences between the two countries. Denmark scores highly across multiple governance indicators, with a Control of Corruption score of 2.4, in stark contrast to Cyprus’s 0.3, indicating a significant gap in corruption control and transparency. The Government Effectiveness score is also higher for Denmark at 2.0, while Cyprus sits at 0.7. The Rule of Law and Regulatory Quality measures further reinforce Denmark's strong governance position, ranking 4th and 5th compared to Cyprus’s 56th and 52nd rankings. Political stability and absence of violence are also more pronounced in Denmark, with a score of 0.9 compared to Cyprus's 0.4.

Infrastructure and Technology

Infrastructure quality significantly favors Denmark, which has a logistics performance index score of 4.1, highlighting superior trade and transport-related infrastructure. Cyprus, while performing reasonably with a score of 2.8, ranks considerably lower at 27th globally. Additionally, Denmark invests more heavily in research and development, allocating 2.9% of its GDP compared to Cyprus’s 0.7%, contributing to its stronger performance in technological innovation and infrastructure development.

Environment and Sustainability

In terms of environmental sustainability, Denmark excels with 39.5% of its total final energy consumption stemming from renewable sources, which ranks 4th globally, while Cyprus stands at 15.6%, ranking 21st. Both nations exhibit similar greenhouse gas emissions per capita, with Denmark at 7.0 tons and Cyprus slightly higher at 7.7 tons. However, Denmark's management of water resources is more efficient, with only 26.4% of freshwater resources withdrawn, compared to Cyprus's 32.1%, indicating a need for better water resource management in Cyprus.