Cyprus Cyprus vs Slovakia Slovakia development indicators, 2024

Indicator
Cyprus
Cyprus, Value
Slovakia
Slovakia, Value
Cyprus
Cyprus, Rank
Slovakia
Slovakia, Rank
Cyprus Cyprus as % of
Slovakia Slovakia
Current account balance (% of GDP) -8.39 -2.75 100 80 306 %
Exports of goods and services (% of GDP) 96.7 85.2 7 9 113 %
GDP per capita (current US$) 38,654 26,148 32 46 148 %
GDP per capita, PPP (current international US$) 61,240 47,181 29 49 130 %
Imports of goods and services (% of GDP) 93.1 85 10 11 110 %
Inflation, consumer prices (annual %) 1.8 2.76 117 92 65.3 %
Net migration 8,138 -21,027 48 170
Population, total 1,358,282 5,422,069 157 119 25.1 %

Demography and Health

In terms of demographics, Cyprus has a total population of approximately 1.4 million compared to Slovakia's 5.4 million. The birth rate in Cyprus stands at 10.8 per 1,000 people, slightly higher than Slovakia's 9.0, ranking them 7th and 40th respectively globally. Cyprus also has a lower death rate of 7.1 per 1,000 people compared to Slovakia's 10.0, placing them at 75th and 51st rank. Life expectancy at birth in Cyprus is notably higher at 81.6 years (ranked 31st) than Slovakia's 78 years (ranked 57th). The under-5 mortality rate is also lower in Cyprus at 3.5 per 1,000 live births, compared to Slovakia's 6.1, indicating better health outcomes for young children. Furthermore, the prevalence of undernourishment is lower in Cyprus at 2.5%, compared to Slovakia's 3.6%. Cyprus allocates 8.9% of its GDP to current health expenditure, whereas Slovakia spends 7.7%, resulting in healthcare spending per capita in Cyprus amounting to $3,857 (ranked 25th) against Slovakia's $2,531 (ranked 39th).

Economy

Cyprus exhibits a stronger economic performance with a GDP per capita of $38,654, ranking 45th, while Slovakia's GDP per capita stands at $26,148, ranked 73rd. Additionally, Cyprus leads in GDP per capita at purchasing power parity (PPP) at $61,240 (38th), compared to Slovakia's $47,181 (74th). The inflation rate in Cyprus is lower at 1.8%, while Slovakia's rate is 2.8%. Regarding unemployment, both countries are tied at 5.8%. However, Cyprus's economic indicators, particularly in high-technology exports, show a significant difference—Cyprus has $107.3 million while Slovakia boasts a much larger $10.1 billion, indicating its strong industrial base.

Trade and Investment

When considering trade, Cyprus has a substantial reliance on exports, representing 96.7% of its GDP, ranking 16th globally, compared to Slovakia's 85.2% (ranked 29th). Interestingly, Cyprus’s imports also take up 93.1% of GDP, which is higher than Slovakia's 85%. The current account balance shows Cyprus at -8.4% of GDP (ranked 103rd) indicating a trade deficit, while Slovakia’s balance is better at -2.7% (ranked 83rd). High-technology exports emphasize Slovakia's industrial strength despite lower overall economic performance, reflecting a diversified economic base.

Governance and Institutions

In the realm of governance, Cyprus scores slightly better than Slovakia across several measures. Both nations have a control of corruption score of 0.3, ranked 60th and 62nd respectively. However, Cyprus performs significantly better in government effectiveness at 0.7 (52nd) compared to Slovakia's 0.2 (74th). The regulatory quality also favors Cyprus (0.8, rank 52) over Slovakia (0.6, rank 65). Both countries are tied in political stability with scores of 0.4 and 0.6 respectively, indicating varying levels of political risk.

Infrastructure and Technology

The logistics performance index indicates that Cyprus has a rating of 2.8 for the quality of trade and transport-related infrastructure (27th rank), which is lower than Slovakia's 3.3 (20th rank). This suggests Slovakia may have a more sophisticated logistics network that can facilitate better trade. Nonetheless, the high-technology export figures suggest that while Cyprus may lag in logistics, it has managed to carve a niche in specific technology sectors.

Environment and Sustainability

Environmental metrics show that Cyprus faces a higher level of water stress with withdrawals at 32.1% of available freshwater resources (ranked 6th) compared to Slovakia’s 2.4% (24th). Renewable energy consumption in Cyprus is 15.6% of total final energy consumption, slightly lower than Slovakia’s 17.9%, indicating Slovakia’s better utilization of renewable resources. Total greenhouse gas emissions per capita are lower in Cyprus at 7.7 tons compared to Slovakia's 8.3 tons, highlighting Cyprus's relatively better environmental performance. Both countries continue to face challenges in sustainability and environmental conservation efforts, showing a need for enhanced policies in these areas.