Denmark Denmark vs Croatia Croatia development indicators, 2024

Indicator
Denmark
Denmark, Value
Croatia
Croatia, Value
Denmark
Denmark, Rank
Croatia
Croatia, Rank
Denmark Denmark as % of
Croatia Croatia
Current account balance (% of GDP) 13 -1.13 8 63
Exports of goods and services (% of GDP) 69.7 49.8 24 39 140 %
Foreign direct investment, net inflows (% of GDP) 4.21 5.04 26 21 83.6 %
GDP per capita (current US$) 71,852 23,931 11 50 300 %
GDP per capita, PPP (current international US$) 79,514 48,575 13 46 164 %
Imports of goods and services (% of GDP) 58.9 52.9 36 52 111 %
Inflation, consumer prices (annual %) 1.37 2.97 129 80 46.2 %
Net migration 25,639 -5,186 34 139
Population, total 5,976,992 3,866,300 114 129 155 %

Demography and Health

Denmark and Croatia have notable differences in demographic indicators. Denmark has a crude birth rate of 9.7 per 1,000 people, higher than Croatia's 8.3 per 1,000 people, indicating a somewhat more favorable environment for family growth. Conversely, Denmark's crude death rate stands at 9.8 per 1,000, lower than Croatia's 13.3, suggesting a healthier population overall. Life expectancy at birth is also higher in Denmark at 81.9 years, compared to Croatia's 78.5 years. Denmark has a lower under-5 mortality rate of 3.4 per 1,000 live births, in contrast to Croatia’s 4.6, indicating better child health services. However, both countries have a prevalence of undernourishment at 2.5% of the population, reflecting a similar level of food security. Denmark experiences a net migration rate of 25,639, whereas Croatia faces a negative migration flow of -5,186, pointing toward significant demographic challenges in the latter.

Economy

In terms of economic performance, Denmark significantly outperforms Croatia with a GDP per capita of $71,852 compared to $23,931 for Croatia. Moreover, the GDP per capita, adjusted for purchasing power parity (PPP), shows a similar trend, with Denmark at $79,514 and Croatia at $48,575, indicating a better standard of living in Denmark. The inflation rate in Denmark is remarkably lower at 1.4% compared to Croatia's 3%. Denmark's exports make up 69.7% of its GDP, while Croatia's exports account for 49.8%, showcasing Denmark's strong position in the global market. Additionally, Denmark ranks higher in research and development expenditure at 2.9% of GDP compared to Croatia's 1.4%, signifying a commitment to innovation which is essential for economic growth.

Trade and Investment

Denmark's trade dynamics reflect a robust economy, with net foreign direct investment inflows at 4.2% of GDP, which is relatively lower than Croatia’s 5%. However, Denmark maintains a superior current account balance of 13% of GDP compared to Croatia’s -1.1%, indicating a stronger capacity to cover its foreign liabilities. The high-technology exports of Denmark stand at $16.1 billion, significantly surpassing Croatia’s $1.7 billion, highlighting Denmark's advanced industrial capabilities. In terms of logistics performance, Denmark's score of 4.1 indicates a well-developed trade and transport infrastructure compared to Croatia's 3, which suggests areas for improvement in trade facilitation.

Governance and Institutions

Governance in Denmark is characterized by high effectiveness, with a Government Effectiveness score of 2 out of a potential 2.5, compared to Croatia's score of 0.7 which reflects significant challenges in governmental performance. Denmark ranks 2nd globally for Control of Corruption with a score of 2.4, while Croatia ranks 67th with a score of 0.2, highlighting concerns about transparency and integrity in governance. Political stability is also more pronounced in Denmark with a score of 0.9 compared to Croatia’s 0.6. Quality of regulatory frameworks is higher in Denmark (1.8) versus Croatia (0.6), indicating stricter and more effective regulations contributing to a better business environment. The Rule of Law score further cements this perception, where Denmark stands at 1.9 against Croatia’s 0.4.

Infrastructure and Technology

In the realm of infrastructure, Denmark excels with a logistics performance index of 4.1 compared to Croatia’s 3, suggesting a more efficient and reliable transport and trade infrastructure. This facilitates not only domestic commerce but also international trade, contributing to Denmark's economic competitiveness. The reliance on high-technology exports as a measure of technological advancement places Denmark at an advantage with $16.1 billion in exports, significantly more than Croatia’s $1.7 billion. Furthermore, Denmark’s greater research and development expenditure underscores its commitment to technological innovation, an essential driver of productivity and economic growth.

Environment and Sustainability

Denmark demonstrates a strong commitment to sustainability, with 39.5% of its total energy consumption derived from renewable sources, ranking it 4th globally, while Croatia stands at 34.1%. Efforts to limit greenhouse gas emissions are reflected in Denmark’s per capita emissions of 7 tons of CO2e compared to Croatia’s 6.5 tons, indicating that both countries are making strides but Denmark has a marginally higher footprint. Water stress management in Denmark is rated better with 26.4% of freshwater resources being utilized, while Croatia's usage is at a manageable 1.5%, suggesting varying pressures on water resources. Overall, while both countries are making progress in environmental sustainability, Denmark is often viewed as a leader in adopting green technologies and sustainable practices.