Cyprus Cyprus vs Romania Romania development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Romania
Romania, Value
Cyprus
Cyprus, Rank
Romania
Romania, Rank
Cyprus Cyprus as % of
Romania Romania
Current account balance (% of GDP) -8.39 -8.36 100 99 100 %
Exports of goods and services (% of GDP) 96.7 35.6 7 70 272 %
GDP per capita (current US$) 38,654 20,072 32 57 193 %
GDP per capita, PPP (current international US$) 61,240 48,712 29 45 126 %
Imports of goods and services (% of GDP) 93.1 41.7 10 67 223 %
Inflation, consumer prices (annual %) 1.8 5.72 117 35 31.5 %
Net migration 8,138 -28,466 48 182
Population, total 1,358,282 19,069,340 157 66 7.12 %

Demography and Health

Cyprus and Romania exhibit notable differences in their demographic and health indicators. Cyprus has a higher birth rate of 10.8 per 1,000 people compared to Romania's 8.0, ranking 7th globally versus Romania's 64th. In terms of death rates, Cyprus also fares better, with a rate of 7.1 compared to Romania's 12.7, which reflects a much lower mortality burden, ranking Cyprus 75th compared to Romania's 25th. Life expectancy at birth is 81.6 years in Cyprus, significantly surpassing Romania's 76.6 years. This difference in longevity can be attributed to better healthcare outcomes, with Cyprus holding a higher ratio of physicians per 1,000 people (3.6 vs. 3.5). Additionally, child mortality rates reflect disparities: 3.5 per 1,000 in Cyprus versus 6.6 in Romania, indicating better health services for children in Cyprus. Furthermore, mental health is better managed in Cyprus as indicated by the lower suicide mortality rate of 3 per 100,000 people, while Romania's rate stands at 9.6. On nutrition, both countries face a similar prevalence of undernourishment at 2.5% of the population.

Economy

Economically, Cyprus outpaces Romania on several fronts. GDP per capita in Cyprus is substantially higher at $38,654 compared to Romania's $20,072, placing Cyprus at 45th globally while Romania ranks 95th. When considering GDP per capita adjusted for purchasing power parity (PPP), Cyprus again leads with $61,240 against Romania's $48,712. High-technology exports further demonstrate economic strength, with Cyprus exporting $107.3 million and Romania a significant $9.7 billion, placing them at ranks 81st and 42nd respectively. The inflation rate in Cyprus stands at a low 1.8%, notably better than Romania's 5.7%, reflecting more stability in prices. Unemployment rates are quite similar, with Cyprus at 5.8% and Romania at 5.6%, which indicates comparable labor market conditions.

Trade and Investment

In trade and investment metrics, Cyprus has a higher share of exports of goods and services relative to GDP at 96.7%, ranking 16th in the world, contrasting sharply with Romania's 35.6% and a rank of 100th. Conversely, imports as a percentage of GDP are also higher in Cyprus at 93.1%, compared to Romania's 41.7%. This dynamic indicates that Cyprus has a highly integrated economy with global markets, albeit with significant reliance on imports as well. The current account balance for both countries is at -8.4%, showing challenges in maintaining external stability.

Governance and Institutions

Cyprus generally displays better governance and institutional metrics compared to Romania. It scores higher in government effectiveness (0.7 vs. -0.1) and regulatory quality (0.8 vs. 0.3), demonstrating more efficient and transparent governance structures. Control of corruption is better in Cyprus at 0.3, while Romania’s score is 0, indicating greater concern over corruption in Romania. Both countries have similar political stability scores, each rated at 0.4, suggesting that while both face challenges, the perception of governance quality is higher in Cyprus. Additionally, the rule of law score is also superior in Cyprus at 0.6 compared to Romania's 0.4.

Infrastructure and Technology

In terms of infrastructure and technology, both countries are relatively close in their logistics performance index, with Cyprus at 2.8 and Romania slightly higher at 2.9. Internet usage is slightly more prevalent in Cyprus, with 91.2% of the population online versus 89.2% in Romania, highlighting higher digital engagement in Cyprus. Research and development investment as a percentage of GDP is higher in Cyprus at 0.7% compared to Romania's 0.5%, suggesting a stronger focus on innovation and technological advancement in the Cypriot economy.

Environment and Sustainability

Regarding environmental sustainability, Romania leads in renewable energy consumption with 23.6% compared to Cyprus's 15.6%, indicating a greater commitment to sustainable energy solutions. However, Cyprus faces a higher level of water stress with 32.1% of freshwater resources being withdrawn, contrastively lower in Romania at 7.4%. When it comes to greenhouse gas emissions, Cyprus emits 7.7 t CO2e per capita, which is higher than Romania's 5.6 t CO2e per capita, illustrating a greater environmental challenge in Cyprus. These indicators underscore the importance of balancing economic growth with environmental sustainability in both countries.