Cyprus Cyprus vs Malta Malta development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Malta
Malta, Value
Cyprus
Cyprus, Rank
Malta
Malta, Rank
Cyprus Cyprus as % of
Malta Malta
Current account balance (% of GDP) -8.39 5.69 100 19
Exports of goods and services (% of GDP) 96.7 123 7 6 78.3 %
GDP per capita (current US$) 38,654 42,347 32 27 91.3 %
GDP per capita, PPP (current international US$) 61,240 67,364 29 24 90.9 %
Imports of goods and services (% of GDP) 93.1 106 10 6 87.8 %
Inflation, consumer prices (annual %) 1.8 1.65 117 123 109 %
Net migration 8,138 6,323 48 52 129 %
Population, total 1,358,282 574,346 157 170 236 %

Demography and Health

In terms of demographics, Cyprus has a birth rate of 10.8 per 1,000 people, higher than Malta's 8.1, ranking it 7th compared to Malta's 59th. The death rates are relatively similar, with Cyprus at 7.1 per 1,000 and Malta at 7.3. Life expectancy is notably higher in Malta at 83.5 years compared to Cyprus's 81.6 years, indicating a healthier population overall, with Malta ranking 3rd in this aspect against Cyprus's 31st. When examining child mortality, Cyprus's under-5 mortality rate of 3.5 is better than Malta's 5.5. Furthermore, Cyprus has a slightly better net migration rate (8138) versus Malta (6323), indicating a stronger influx of people seeking residency.

Economy

Economically, Cyprus has a GDP per capita of $38,654 which is lower than Malta's $42,347, though both countries rank similarly at 45th and 40th respectively. However, when focusing on GDP per capita in terms of purchasing power parity (PPP), Cyprus is lower at $61,240 versus Malta's $67,364. Both countries show a strong export-oriented economy, with Cyprus exporting 96.7% of its GDP compared to Malta's 123%, giving it a rank of 16th and 11th respectively. In terms of inflation, Cyprus has a slightly higher consumer price inflation rate at 1.8% compared to Malta's 1.7%.

Trade and Investment

In the realm of trade and investment, Cyprus maintains a current account balance of -8.4% of GDP, which indicates a deficit, contrasting with Malta's positive balance at 5.7%, indicating better trade health and investment opportunities. Cyprus has also demonstrated lower high-technology exports, totaling $107.3 million compared to Malta's $1.2 billion, highlighting a possible area for growth in technology sectors. Cyprus's imports as a percentage of GDP are also less favorable at 93.1% compared to Malta's 106%, suggesting more substantial import reliance in Malta.

Governance and Institutions

Governance and institutional effectiveness differ significantly between the two nations. Cyprus's control of corruption measures rank it at 60th globally with a score of 0.3, compared to Malta's lower score of 0.1 at rank 69th, indicating better corruption control in Cyprus. However, Malta ranks higher in terms of political stability (19th) and absence of violence/terrorism with a score of 0.9, compared to Cyprus's 68th ranking and score of 0.4. In terms of government effectiveness, Cyprus's score of 0.7 places it better than Malta's 0.4.

Infrastructure and Technology

When examining infrastructure and technology, Malta outperforms Cyprus in logistics performance, achieving a score of 3.7 against Cyprus’s 2.8. This suggests Malta has superior trade and transport-related infrastructure, facilitating smoother trade operations. Internet access is quite high in both nations, with 91.2% of the population in Cyprus having access compared to 92.1% in Malta, indicating similarly developed digital infrastructures.

Environment and Sustainability

On the environmental front, Cyprus notably produces 7.7 tons of CO2e per capita, worse than Malta’s 3.7, which raises concerns regarding Cyprus's sustainability practices. The renewable energy consumption in Cyprus is 15.6% of total energy, higher than Malta's 8.6%, reflecting Cyprus's greater commitment to renewable resources. Furthermore, Cyprus ranks much better in terms of water stress, with a score of 32.1% relating to freshwater withdrawal, indicating more sustainable water resource management compared to Malta’s 78.3%.