Cyprus Cyprus vs Estonia Estonia development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Estonia
Estonia, Value
Cyprus
Cyprus, Rank
Estonia
Estonia, Rank
Cyprus Cyprus as % of
Estonia Estonia
Current account balance (% of GDP) -8.39 -1.15 100 64 733 %
Exports of goods and services (% of GDP) 96.7 76.3 7 15 127 %
GDP per capita (current US$) 38,654 31,170 32 41 124 %
GDP per capita, PPP (current international US$) 61,240 49,334 29 44 124 %
Imports of goods and services (% of GDP) 93.1 75.7 10 15 123 %
Inflation, consumer prices (annual %) 1.8 3.52 117 62 51.1 %
Net migration 8,138 -7,742 48 147
Population, total 1,358,282 1,371,986 157 155 99 %

Demography and Health

Cyprus has a crude birth rate of 10.8 per 1,000 people, which is higher than Estonia's rate of 8. This places Cyprus at a rank of 7 while Estonia is ranked 64. In contrast, Cyprus's crude death rate is 7.1 per 1,000 people, significantly lower than Estonia's 11.7, indicating a better demographic balance and a higher overall population health with Cyprus ranked 75 and Estonia 35 in this indicator. Life expectancy in Cyprus is also higher at 81.6 years compared to Estonia's 78.5 years, showcasing Cyprus's stronger health outcomes. Furthermore, Cyprus has a lower under-five mortality rate of 3.5 per 1,000 live births as compared to Estonia's 2.1, ranking 42 against Estonia's 81. The prevalence of undernourishment is equal at 2.5% for both, ranking them 3rd in this category. Overall, Cyprus demonstrates a healthier demographic profile in comparison to Estonia.

Economy

Cyprus boasts a higher GDP per capita at $38,654 compared to Estonia's $31,170, with ranks of 45 and 59 respectively. Additionally, when looking at GDP per capita adjusted for purchasing power parity (PPP), Cyprus again leads with $61,240 against Estonia's $49,334, ranked 38 vs. 66. Cyprus's economy is heavily reliant on exports, with exports of goods and services accounting for 96.7% of GDP, substantially higher than Estonia's 76.3% (ranked 16 and 43 respectively). Moreover, inflation rates in Cyprus are lower at 1.8% compared to 3.5% in Estonia, which speaks to Cyprus's more stable economic conditions. However, Cyprus faces challenges with a current account balance of -8.4%, worse than Estonia's -1.1%, ranking 103 and 70 respectively.

Trade and Investment

In the realm of trade, Cyprus's high-technology exports amount to $107.3 million, which is modest compared to Estonia's impressive $2.1 billion. This reflects both countries' capabilities in technology but also highlights Estonia's position as a leader in high-tech sectors globally, being ranked 69, while Cyprus lags at 81. Import rates as a percentage of GDP further indicate Cyprus's engagement in trade at 93.1%, higher than Estonia’s 75.7%, ranked 17 vs. 39.

Governance and Institutions

In terms of governance, Estonia outshines Cyprus in several key areas. Estonia's scores for control of corruption (1.5), government effectiveness (1.3), regulatory quality (1.4), and rule of law (1.4) demonstrate a more robust institutional framework compared to Cyprus's scores of 0.3, 0.7, 0.8, and 0.6 which rank them 60, 52, 52, and 56 respectively. Estonia also has a higher rank in political stability and absence of violence/terrorism at 43 versus Cyprus's 68. The military expenditure for Cyprus is lower, amounting to $566.9 million, while Estonia spends significantly more at $1.2 billion, resulting in better ranking for Estonia at 63 versus Cyprus at 74.

Infrastructure and Technology

When it comes to infrastructure, Estonia ranks higher with a logistics performance index score of 3.5 compared to Cyprus’s score of 2.8, indicating better trade and transport-related infrastructure quality. Additionally, the percentage of individuals using the internet is 93.2% in Estonia compared to 91.2% in Cyprus, showing a slightly better digital connectivity in Estonia. Moreover, research and development expenditure as a percentage of GDP is significantly higher in Estonia at 1.8% compared to Cyprus's 0.7%, ranking them 21 and 50 respectively, suggesting a stronger commitment to innovation in Estonia.

Environment and Sustainability

In terms of sustainability, Estonia leads with a renewable energy consumption rate of 38% compared to Cyprus's 15.6%, marking ranks of 5 and 21 respectively. Cyprus faces greater water stress with a level of freshwater withdrawal at 32.1%, juxtaposed with Estonia’s more sustainable 10.8%. In contrast to greenhouse gas emissions, Cyprus's total emissions stand at 7.7 tons CO2e per capita, which is lower than Estonia's 10.5 tons, reflecting better environmental management in Cyprus, ranking 40 compared to Estonia's rank of 14. Overall, while Estonia excels in renewable energy usage, Cyprus shows better performance in managing emissions.