Cyprus Cyprus vs Lithuania Lithuania development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Lithuania
Lithuania, Value
Cyprus
Cyprus, Rank
Lithuania
Lithuania, Rank
Cyprus Cyprus as % of
Lithuania Lithuania
Current account balance (% of GDP) -8.39 2.48 100 35
Exports of goods and services (% of GDP) 96.7 74.1 7 19 130 %
GDP per capita (current US$) 38,654 29,386 32 44 132 %
GDP per capita, PPP (current international US$) 61,240 54,414 29 37 113 %
Imports of goods and services (% of GDP) 93.1 68.9 10 24 135 %
Inflation, consumer prices (annual %) 1.8 0.716 117 145 252 %
Net migration 8,138 2,617 48 61 311 %
Population, total 1,358,282 2,888,055 157 138 47 %

Demography and Health

In terms of demography, Cyprus has a total population of approximately 1.4 million, significantly smaller than Lithuania's 2.9 million population. The birth rate in Cyprus is higher at 10.8 per 1,000 people compared to Lithuania's 7.2, positioning Cyprus at rank 7 and Lithuania at rank 74. However, the death rate in Cyprus is lower at 7.1 per 1,000 compared to Lithuania’s higher rate of 12.9, placing Cyprus at rank 75 and Lithuania at rank 23. Life expectancy is also in favor of Cyprus, with an average of 81.6 years compared to Lithuania's 77 years. Furthermore, Cyprus boasts a lower under-5 mortality rate of 3.5 compared to Lithuania’s 3.4, indicating better health outcomes for young children. The prevalence of undernourishment is equal in both countries at 2.5%. Migration shows Cyprus with a net gain of 8,138, indicating a more favorable demographic trend, while Lithuania experiences a lower net migration of 2,617. Finally, Cyprus exhibits a lower suicide mortality rate of 3 per 100,000 population against Lithuania's concerning rate of 22.1.

Economy

The economic indicators demonstrate a clear disparity between Cyprus and Lithuania. Cyprus’s GDP per capita stands at $38,654, significantly higher than Lithuania's $29,386, ranking Cyprus at position 45 while Lithuania is at 63. When considering GDP per capita based on purchasing power parity (PPP), Cyprus’s figure is $61,240 compared to Lithuania's $54,414, which further exemplifies Cyprus's stronger economic position. In terms of inflation, Cyprus also fares worse with a rate of 1.8% against Lithuania's 0.7%. Cyprus has an impressive 96.7% of its GDP derived from exports of goods and services, placing it at rank 16 versus Lithuania’s 74.1% at rank 45. Despite these strong figures, Cyprus has a current account deficit of -8.4% of GDP, which is notably worse than Lithuania’s surplus of 2.5%.

Trade and Investment

Cyprus has a markedly higher reliance on exports compared to Lithuania, reflecting a trade structure that emphasizes international markets. High-technology exports are considerably low in Cyprus at $107.3 million compared to Lithuania's $3.7 billion, indicating Lithuania's greater innovation capacity and participation in global high-tech markets. Imports as a percentage of GDP are also higher in Cyprus at 93.1% compared to Lithuania’s 68.9%, indicating a more open but potentially more vulnerable economy. On the investment side, Cyprus performs poorly in terms of patent applications, reporting only 1 compared to Lithuania's 81, underscoring a gap in research and innovation output.

Governance and Institutions

Governance indicators reveal notable differences in institutional effectiveness between the two nations. Cyprus has scores in governance metrics that indicate moderate effectiveness, with a Government Effectiveness score of 0.7 and Regulatory Quality at 0.8, which places it at position 52 and 52 respectively. Lithuania outperforms Cyprus with scores of 1.1 for Government Effectiveness and 1.3 for Regulatory Quality, ranking higher at 38 and 29 respectively. Corruption control shows Cyprus lagging with a score of 0.3 versus Lithuania's 0.8, and while both countries face challenges in political stability, Cyprus scores 0.4 and ranks 68 compared to Lithuania’s better score of 0.7 at rank 30. Overall, Lithuania appears to have a more effective governance structure.

Infrastructure and Technology

In terms of infrastructure, Lithuania exhibits stronger performance on the Logistics Performance Index, scoring 3.5 versus Cyprus's 2.8, which implies a better quality of trade and transport-related infrastructure in Lithuania. The percentage of the population using the Internet is relatively high in both countries, with Cyprus at 91.2% and Lithuania close behind at 88.5%. This reflects a strong level of digital engagement in both nations, with Cyprus slightly ahead.

Environment and Sustainability

Environmental sustainability metrics highlight distinct approaches between Cyprus and Lithuania. Cyprus uses 15.6% of its total energy consumption from renewable sources, significantly lower than Lithuania's commendable 33.2%. However, Cyprus demonstrates effective water management with a low level of water stress at 32.1% freshwater withdrawal, ranking it favorably at 6 compared to Lithuania's low stress level of 1.8% at rank 25. In terms of greenhouse gas emissions, Cyprus's carbon footprint per capita is slightly higher at 7.7 tons compared to Lithuania's 7.2, though both countries are working towards sustainability goals. It is notable that Cyprus's environmental policies may have to improve to foster sustainability and lower emissions, especially in comparison to Lithuania.