Denmark Denmark vs Hungary Hungary development indicators, 2024

Indicator
Denmark
Denmark, Value
Hungary
Hungary, Value
Denmark
Denmark, Rank
Hungary
Hungary, Rank
Denmark Denmark as % of
Hungary Hungary
Current account balance (% of GDP) 13 2.28 8 37 572 %
Exports of goods and services (% of GDP) 69.7 74.7 24 17 93.4 %
Foreign direct investment, net inflows (% of GDP) 4.21 -14.7 26 107
GDP per capita (current US$) 71,852 23,311 11 54 308 %
GDP per capita, PPP (current international US$) 79,514 47,636 13 47 167 %
Imports of goods and services (% of GDP) 58.9 69.1 36 23 85.2 %
Individuals using the Internet (% of population) 99.8 91.5 1 6 109 %
Inflation, consumer prices (annual %) 1.37 3.7 129 58 37 %
Net migration 25,639 16,223 34 41 158 %
Population, total 5,976,992 9,562,314 114 96 62.5 %

Demography and Health

In terms of population dynamics, Denmark and Hungary exhibit slightly different trends. Denmark has a crude birth rate of 9.7 per 1,000 people, compared to Hungary's 9.1, positioning the former at rank 24 and the latter at rank 38. However, the death rate is notably higher in Hungary at 13.4 per 1,000 people, compared to Denmark's 9.8, which ranks Hungary 19th and Denmark 54th. Life expectancy at birth is significantly better in Denmark at 81.9 years versus Hungary's 76.8 years, indicating better overall health and living conditions. Moreover, Denmark boasts a lower under-5 mortality rate at 3.4 per 1,000 live births compared to 3.8 in Hungary. Furthermore, Denmark has a more robust health system reflected in its higher number of hospital beds (2.5 per 1,000 people) contrasted with Hungary's 6.8.

Economy

The economic outlook for Denmark and Hungary is starkly different when assessing GDP and income per capita. Denmark’s GDP per capita stands at $71,852, placing it at 9th globally, while Hungary's stands at just $23,311, ranking 84th. The GDP per capita adjusted for purchasing power parity (PPP) shows Denmark at $79,514 and Hungary at $47,636, further emphasizing the economic disparity. Denmark ranks significantly higher in research and development expenditure at 2.9% of GDP versus Hungary's 1.4%, suggesting a stronger focus on innovation and technological advancement. Additionally, Denmark has a healthier inflation rate at 1.4% as opposed to Hungary’s 3.7%, signaling better economic stability.

Trade and Investment

When exploring trade dynamics, Hungary has a higher percentage of exports of goods and services relative to its GDP at 74.7%, ranked 44th, compared to Denmark's 69.7% (50th). However, Denmark leads in foreign direct investment with net inflows at 4.2% of GDP, in stark contrast to Hungary's -14.7%, which suggests a negative investment environment that places Hungary at the bottom rank of 100. The current account balance reflects similarly positive figures for Denmark at 13% compared to 2.3% for Hungary, indicating stronger economic management in Denmark with respect to external trade.

Governance and Institutions

Governance appears to be another strong point for Denmark, which exhibits significantly higher rankings across various governance indicators. Denmark ranks 1st in both government effectiveness and regulatory quality, with scores of 2 and 1.8 respectively. In contrast, Hungary's scores of 0.4 and 0.3 place it at 70th and 80th respectively, depicting challenges in governance and adherence to regulations. In terms of rule of law, Denmark completes the top ranks at 4th, scoring 1.9 against Hungary's low ranking of 65 and a score of 0.4. Denmark also enjoys better political stability with a score of 0.9, outclassing Hungary’s score of 0.7.

Infrastructure and Technology

Denmark excels in technological adoption, evidenced by a remarkable 99.8% of its population using the Internet, the highest globally, while Hungary stands at a comparably lower 91.5% (37th). In terms of logistics, Denmark also leads with a logistics performance index of 4.1, ranking 5th globally, whereas Hungary’s index of 3.1 places it at 22nd, indicating more effective trade and transport infrastructure in Denmark.

Environment and Sustainability

Denmark showcases a strong commitment to sustainability, with 39.5% of its total final energy consumption coming from renewable sources, ranking 4th globally compared to Hungary’s modest 15.3% in 22nd place. The environmental impact of greenhouse gas emissions demonstrates this commitment, with Denmark emitting 7 tons of CO2e per capita, while Hungary's emissions are slightly lower at 6.4 tons per capita. However, Denmark faces challenges with water stress, utilizing 26.4% of its freshwater resources, in contrast to Hungary’s 8.1%, which may suggest differences in agricultural practices and resource management. Additionally, both nations report similar levels of undernourishment at 2.5% of the population, highlighting a common challenge in food security.