Denmark Denmark vs Finland Finland development indicators, 2024

Indicator
Denmark
Denmark, Value
Finland
Finland, Value
Denmark
Denmark, Rank
Finland
Finland, Rank
Denmark Denmark as % of
Finland Finland
Current account balance (% of GDP) 13 0.31 8 50 4,195 %
Exports of goods and services (% of GDP) 69.7 41.6 24 59 168 %
Foreign direct investment, net inflows (% of GDP) 4.21 0.661 26 81 638 %
GDP per capita (current US$) 71,852 53,189 11 21 135 %
GDP per capita, PPP (current international US$) 79,514 64,091 13 27 124 %
Imports of goods and services (% of GDP) 58.9 40.9 36 70 144 %
Inflation, consumer prices (annual %) 1.37 1.57 129 125 87.6 %
Net migration 25,639 26,894 34 32 95.3 %
Population, total 5,976,992 5,637,214 114 116 106 %

Demography and Health

In terms of demography, Denmark has a slightly higher birth rate at 9.7 compared to Finland's 7.8, placing Denmark 24th worldwide versus Finland's 68th rank. Conversely, the death rate in Denmark is notably lower at 9.8 per 1,000 people compared to Finland's higher rate of 11, positioning Denmark at the 54th rank against Finland's 41st. Life expectancy at birth is similar for both countries, with Denmark at 81.9 years and Finland at 81.7 years, indicating a robust healthcare system in both nations. However, Denmark suffers from a higher under-5 mortality rate of 3.4 compared to Finland's 2.3. The prevalence of undernourishment remains equal at 2.5% for both countries, reflecting adequate food security. Notably, the suicide mortality rate is lower in Denmark (10.5 per 100,000) than in Finland (14.6), though Finland ranks higher in this category.

Economy

Denmark boasts a significantly higher GDP per capita at $71,852 compared to Finland's $53,189, ranking 9th and 28th respectively. Similarly, in Purchasing Power Parity (PPP), Denmark again outshines Finland, standing at $79,514 against Finland's $64,091. In terms of inflation, Denmark experiences a slightly better position with an annual consumer price increase of 1.4% compared to Finland's 1.6%. However, Finland exhibits stronger research and development expenditure as a percentage of GDP at 3%, slightly ahead of Denmark's 2.9%, showcasing Finland's investment in innovation. Unemployment rates are also lower in Denmark at 5.1%, contrasted with Finland's 7.2%.

Trade and Investment

When it comes to trade, Denmark's exports of goods and services are significantly higher at 69.7% of GDP versus Finland's 41.6%, reflecting a more export-driven economy. Denmark also ranks higher for foreign direct investment net inflows at 4.2% of GDP, compared to Finland’s 0.7%. The current account balance is also favorable for Denmark at 13%, while Finland only has a marginal 0.3%. However, Finland shows a higher level of high-technology exports valued at $5.3 billion compared to Denmark's $16.1 billion. The country’s ability to attract investment is bolstered by its ranking of 36th in FDI net inflows, in contrast to Finland's weaker position at 87th.

Governance and Institutions

In the realm of governance, Denmark ranks incredibly well in control of corruption at 2.4, compared to Finland's 2.2, placing it 2nd globally versus Finland's 6th. Government effectiveness is rated higher in Denmark at 2, with Finland at 1.7, indicating a more efficient public administration. The rule of law is also more pronounced in Denmark with a score of 1.9 versus Finland's 2. Although both countries scored equally on regulatory quality at 1.8, Denmark holds the advantage in political stability and the absence of violence with a score of 0.9 against Finland's 0.7, suggesting stronger institutional frameworks in place.

Infrastructure and Technology

Denmark offers superior logistics performance with a score of 4.1 for the quality of trade and transport-related infrastructure, while Finland edges slightly higher at 4.2. Denmark leads in total patent applications per resident at 1,090, placing it 10th globally compared to Finland’s higher score of 1,557, ranking 8th, highlighting Finland's focus on innovation. Both nations have made significant investments in technology, but Denmark's ranking positions it more favorably in overall technological advancement.

Environment and Sustainability

On the environmental front, Denmark relies on renewable energy for 39.5% of its total final energy consumption, while Finland excels with a higher percentage of 50.2%. Denmark has a moderate level of water stress at 26.4%, whereas Finland enjoys a much lower level at 7.1%. Climate concerns are evident as Denmark emits 7 tons of CO2 equivalent per capita, which is marginally lower than Finland's 7.8 tons. Both nations are making strides towards sustainability, though Finland's renewable energy initiatives could take precedence.