Denmark Denmark vs Italy Italy development indicators, 2024

Indicator
Denmark
Denmark, Value
Italy
Italy, Value
Denmark
Denmark, Rank
Italy
Italy, Rank
Denmark Denmark as % of
Italy Italy
Current account balance (% of GDP) 13 1.13 8 45 1,154 %
Exports of goods and services (% of GDP) 69.7 32.7 24 77 213 %
Foreign direct investment, net inflows (% of GDP) 4.21 0.918 26 74 459 %
GDP per capita (current US$) 71,852 40,226 11 28 179 %
GDP per capita, PPP (current international US$) 79,514 60,847 13 30 131 %
Imports of goods and services (% of GDP) 58.9 30.4 36 96 194 %
Inflation, consumer prices (annual %) 1.37 0.982 129 141 140 %
Net migration 25,639 95,246 34 19 26.9 %
Population, total 5,976,992 58,986,023 114 25 10.1 %

Demography and Health

Denmark has a birth rate of 9.7 per 1,000 people, significantly higher than Italy's 6.4, ranking Denmark 24th globally compared to Italy's 81st. Denmark's death rate is 9.8 per 1,000, better than Italy's 11.2, ranking 54th and 38th respectively. The life expectancy in Denmark stands at 81.9 years, while Italy boasts a slightly higher figure at 83.7 years. Although Denmark has a lower under-5 mortality rate of 3.4 per 1,000 live births compared to Italy's 2.8, both countries have the same prevalence of undernourishment at 2.5%. Denmark also faces a suicide mortality rate of 10.5, which is higher than Italy’s 7. The total population of Denmark is relatively small at 6 million versus Italy's substantial 59 million, indicating Denmark's rank of 61st against Italy's 12th in terms of total population.

Economy

In terms of economic performance, Denmark outperforms Italy in GDP per capita, with a figure of $71,852 compared to Italy's $40,226, ranking 9th and 42nd, respectively. When adjusted for purchasing power parity (PPP), Denmark also leads with $79,514 against Italy's $60,847, ranking 10th against Italy's 39th. Denmark's poverty headcount ratio stands at 12.4%, significantly lower than Italy's 20.1%, ranking Denmark 30th and Italy 12th. The unemployment rate in Denmark is 5.1%, whereas Italy faces a much higher rate of 7.6%, ranking 52nd and 11th respectively. Denmark also enjoys a robust consumer price inflation rate of only 1.4%, with Italy slightly more stable at 1%.

Trade and Investment

Denmark's economy is heavily reliant on exports, with goods and services accounting for 69.7% of its GDP, compared to Italy's 32.7%, ranking Denmark 50th and Italy 106th. In high-technology exports, Denmark records $16.1 billion against Italy's notable $52.2 billion, ranking 38th and 15th respectively. Denmark’s net inflow of foreign direct investment as a percentage of GDP is 4.2%, better than Italy's 0.9%, ranking 36th and 86th respectively. Both nations have significant amounts of imports as a percentage of GDP, with Denmark at 58.9% and Italy at 30.4%, leading to rankings of 60th and 107th.

Governance and Institutions

In terms of governance, Denmark consistently ranks high in control of corruption, with a score of 2.4, compared to Italy's low score of 0.6, ranking 2nd and 53rd respectively. Denmark also excels in government effectiveness with a score of 2.0 compared to Italy's 0.6, placing Denmark at 1st and Italy at 58th. The regulatory quality score favors Denmark (1.8) over Italy (0.6), ranking 5th and 63rd respectively. Furthermore, Denmark's rank in the rule of law at 1.9 positions it 4th in the world, while Italy, with a score of 0.4, ranks 69th. Political stability and the absence of violence also favor Denmark with a score of 0.9 compared to Italy's 0.6, ranking 20th and 53rd.

Infrastructure and Technology

Denmark scores higher in logistics performance index at 4.1, indicating quality trade and transport-related infrastructure, ranking 5th globally against Italy's score of 3.8 which ranks 8th. In research and development expenditure as a percentage of GDP, Denmark invests 2.9%, significantly above Italy's 1.4%, with ranks of 11th and 35th respectively. Patent applications by residents are also favorably high in Denmark at 1,090 compared to Italy's substantial 10,281, showcasing Italy's strength in innovation but with Denmark's higher ranking at 10th.

Environment and Sustainability

Denmark leads in renewable energy consumption, utilizing 39.5% of its total final energy consumption for renewables, representing a strong commitment to sustainability, compared to Italy's 17.5% at 18th rank. In terms of current account balance as a percentage of GDP, Denmark shows a healthy 13%, better than Italy's 1.1%, ranking 2nd and 43rd respectively. Denmark also faces 26.4% of water stress related to freshwater withdrawal, better than Italy's 29.6%, placing both countries in strong but slightly different positions (9th and 8th). Denmark's total greenhouse gas emissions per capita is at 7 tons, while Italy sits at 6.3 tons, ranking 48th and 62nd, indicating more focus needed on emissions for Denmark.