Denmark Denmark vs Estonia Estonia development indicators, 2024

Indicator
Denmark
Denmark, Value
Estonia
Estonia, Value
Denmark
Denmark, Rank
Estonia
Estonia, Rank
Denmark Denmark as % of
Estonia Estonia
Current account balance (% of GDP) 13 -1.15 8 64
Exports of goods and services (% of GDP) 69.7 76.3 24 15 91.4 %
Foreign direct investment, net inflows (% of GDP) 4.21 -8.18 26 105
GDP per capita (current US$) 71,852 31,170 11 41 231 %
GDP per capita, PPP (current international US$) 79,514 49,334 13 44 161 %
Imports of goods and services (% of GDP) 58.9 75.7 36 15 77.8 %
Inflation, consumer prices (annual %) 1.37 3.52 129 62 39 %
Net migration 25,639 -7,742 34 147
Population, total 5,976,992 1,371,986 114 155 436 %

Demography and Health

Denmark has a population of approximately 6 million, significantly larger than Estonia's 1.4 million. In terms of demographic indicators, Denmark's birth rate stands at 9.7 per 1,000 people, which is higher than Estonia's birth rate of 8. However, Estonia has a lower crude death rate at 11.7 compared to Denmark's 9.8, indicating a higher mortality challenge there. Life expectancy at birth is also higher in Denmark at 81.9 years versus Estonia's 78.5 years. Furthermore, Denmark exhibits a lower under-5 mortality rate of 3.4 per 1,000 live births, compared to Estonia's 2.1, indicating better health outcomes for young children. Notably, both nations show a prevalence of undernourishment at 2.5% of the population.

Economy

Denmark's GDP per capita is significantly higher than Estonia's, standing at $71,852 compared to Estonia's $31,170. When adjusted for purchasing power parity (PPP), Denmark also leads with a GDP per capita of $79,514 versus Estonia's $49,334. Denmark's inflation rate is lower at 1.4%, indicating greater economic stability compared to Estonia’s 3.5%. In terms of exports, Denmark has 69.7% of its GDP coming from goods and services exports, while Estonia is higher at 76.3%. Estonia also has a substantial challenge with foreign direct investment (FDI) net inflows, which is negative at -8.2% of GDP, while Denmark's is positive at 4.2%. However, both countries are actively engaging in innovative sectors, with Denmark leading in high-technology exports, totaling $16.1 billion against Estonia's $2.1 billion.

Trade and Investment

Denmark's economy is bolstered by a healthy external trade balance, with exports of goods and services accounting for 69.7% of GDP, indicating a robust integration into global markets. Estonia's figure is slightly higher at 76.3%, reflecting its role as a small yet active player in international trade. However, the diversification of the economy in Denmark is indicated by its higher GDP per capita and the presence of high-technology exports. Estonia, while demonstrating aggressive trade activities, faces challenges with an overall negative FDI inflow of -8.2% of GDP. The current account balance also reflects Denmark’s strength with a surplus of 13% of GDP against Estonia’s deficit of -1.1%.

Governance and Institutions

Denmark generally ranks higher in governance quality, indicated by its control of corruption score of 2.4 versus Estonia's 1.5. Denmark also holds a better government effectiveness ranking at 2 compared to Estonia's 1.3, suggesting a more efficient bureaucratic system. The rule of law and regulatory quality indicators further reinforce Denmark's stronger institutional framework, with scores of 1.9 and 1.8 respectively, compared to Estonia's 1.4 in both areas. However, both countries show relatively good political stability, with Denmark at 0.9 and Estonia at 0.7, although Denmark is more ahead in this respect.

Infrastructure and Technology

Denmark excels in infrastructure quality, as evidenced by its logistics performance index of 4.1, compared to Estonia's 3.5. This suggests that Denmark has superior transport-related infrastructure. Denmark's commitment to research and development is also notable, dedicating 2.9% of GDP, while Estonia invests a lower proportion at 1.8%. Moreover, Danish patent applications, a reflection of innovation capacity, amount to 1,090, significantly outpacing Estonia’s 25. This disparity highlights Denmark's advanced technological environment conducive to fostering innovation and infrastructure development.

Environment and Sustainability

In terms of renewable energy consumption, Denmark leads with 39.5% of total final energy consumption derived from renewable sources, compared to Estonia's 38%, indicating a strong commitment to sustainability. Both countries manage their natural resources effectively, with Denmark facing a moderate level of water stress at 26.4%. Estonia benefits from lower water stress at 10.8%, showcasing its sustainable management of water resources. Nevertheless, Denmark's total greenhouse gas emissions per capita are lower at 7 tons compared to Estonia's 10.5 tons, indicating better environmental outcomes in Denmark despite similar footprints in renewable energy consumption and undernourishment rates.