Cyprus Cyprus vs Netherlands Netherlands development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Netherlands
Netherlands, Value
Cyprus
Cyprus, Rank
Netherlands
Netherlands, Rank
Cyprus Cyprus as % of
Netherlands Netherlands
Current account balance (% of GDP) -8.39 9.92 100 10
Exports of goods and services (% of GDP) 96.7 84.1 7 11 115 %
GDP per capita (current US$) 38,654 68,219 32 12 56.7 %
GDP per capita, PPP (current international US$) 61,240 84,218 29 11 72.7 %
Imports of goods and services (% of GDP) 93.1 72 10 20 129 %
Inflation, consumer prices (annual %) 1.8 3.35 117 65 53.8 %
Net migration 8,138 121,628 48 17 6.69 %
Population, total 1,358,282 17,994,237 157 71 7.55 %

Demography and Health

In 2023, Cyprus has a birth rate of 10.8 per 1,000 people, higher than the Netherlands' rate of 9.2, placing Cyprus in a better rank at 7 compared to the Netherlands at 36. The death rate in Cyprus stands at 7.1, which is lower than the Netherlands' 9.5, giving Cyprus a rank of 75 against the Netherlands' 62. Both countries have a similar life expectancy at birth, with Cyprus at 81.6 years and the Netherlands slightly higher at 81.9 years. The mortality rate for children under 5 is lower in Cyprus at 3.5 compared to 4 in the Netherlands, ranking Cyprus at 42 to the Netherlands' 22. Furthermore, Cyprus reports a prevalence of undernourishment at 2.5%, which aligns with the Netherlands but ranks 3rd in this category overall. Health expenditure as a percentage of GDP is lower in Cyprus at 8.9% compared to 10.1% in the Netherlands, with a per capita expenditure of $3,857 versus $5,193. Cyprus also reports 3.6 physicians per 1,000 people, a slightly lower figure than the 3.9 in the Netherlands. The suicide mortality rate in Cyprus is significantly lower at 3 per 100,000 compared to 11.5 in the Netherlands.

Economy

As of 2024, Cyprus has a GDP per capita of $38,654, which although represents a significant economy, is much lower than that of the Netherlands at $68,219. On a purchasing power parity basis, Cyprus records $61,240 per capita, again falling short compared to the Netherlands at $84,218. Nonetheless, Cyprus excels in export revenues, with exports of goods and services constituting 96.7% of its GDP, placing it 16th in the world, while the Netherlands' exports are at 84.1%, ranking 31st. Cyprus has a modest inflation rate of 1.8%, much lower than the Netherlands' 3.3%. The unemployment rate in Cyprus sits at 5.8%, while the Netherlands boasts a lower rate of 3.5%.

Trade and Investment

Cyprus relies heavily on trade, with both exports and imports nearing 100% of its GDP, with imports at 93.1% compared to the Netherlands’ 72%. This heavy reliance on international trade places Cyprus in a more vulnerable economic position but also reflects an open economy. High-technology exports from Cyprus are relatively minor at $107.3M compared to an impressive $111 billion from the Netherlands, indicating that the Netherlands has a significant competitive advantage in high-tech industries.

Governance and Institutions

In terms of governance, the Netherlands ranks significantly higher in various indicators of quality and effectiveness. Control of corruption stands at 1.9 in the Netherlands against 0.3 in Cyprus. Likewise, the government effectiveness index shows 1.6 for the Netherlands compared to 0.7 for Cyprus. Political stability is also stronger in the Netherlands, recorded at 0.7, compared to Cyprus's 0.4. Moreover, regulatory quality and rule of law scores indicate that the Netherlands has more robust institutions, with scores of 1.8 and 1.6 respectively, as opposed to Cyprus's 0.8 and 0.6. Cyprus experiences a higher military expenditure of $566.9 million compared to the Netherlands’s $16.6 billion, relative to their respective sizes, giving Cyprus a rank of 74 in military spending effectiveness.

Infrastructure and Technology

When evaluating infrastructure, the Netherlands outperforms Cyprus on the logistics performance index with a score of 4.2 compared to Cyprus's 2.8. This indicates that the Netherlands has significantly better trade and transport-related infrastructure. Furthermore, 91.2% of the population in Cyprus uses the Internet, which is a commendable figure, but still lags behind the Netherlands at 97%.

Environment and Sustainability

In terms of environmental considerations, Cyprus has a renewable energy consumption rate of 15.6% of total energy consumption, which surpasses the Netherlands at 12.2%, indicating a stronger commitment to sustainable energy sources. However, Cyprus's level of water stress is concerning, with 32.1% of available freshwater resources being withdrawn, placing it at a ratio much higher than the Netherlands’s 16.1%. Both countries report similar levels of undernourishment and greenhouse gas emissions per capita, with Cyprus at 7.7 tons and the Netherlands at 8.4 tons. Each country faces its unique challenges and opportunities when it comes to environmental sustainability.