Denmark Denmark vs Slovakia Slovakia development indicators, 2024

Indicator
Denmark
Denmark, Value
Slovakia
Slovakia, Value
Denmark
Denmark, Rank
Slovakia
Slovakia, Rank
Denmark Denmark as % of
Slovakia Slovakia
Current account balance (% of GDP) 13 -2.75 8 80
Exports of goods and services (% of GDP) 69.7 85.2 24 9 81.8 %
Foreign direct investment, net inflows (% of GDP) 4.21 2.53 26 46 167 %
GDP per capita (current US$) 71,852 26,148 11 46 275 %
GDP per capita, PPP (current international US$) 79,514 47,181 13 49 169 %
Imports of goods and services (% of GDP) 58.9 85 36 11 69.3 %
Individuals using the Internet (% of population) 99.8 89.8 1 7 111 %
Inflation, consumer prices (annual %) 1.37 2.76 129 92 49.8 %
Net migration 25,639 -21,027 34 170
Population, total 5,976,992 5,422,069 114 119 110 %

Demography and Health

Denmark has a crude birth rate of 9.7 per 1,000 people and a death rate of 9.8 per 1,000 people, while Slovakia has a slightly lower birth rate of 9 and a death rate of 10. In terms of life expectancy, Danes live, on average, 81.9 years, compared to 78 years for Slovaks. The under-five mortality rate is significantly lower in Denmark at 3.4 per 1,000 live births, while Slovakia has a rate of 6.1. Migration patterns favor Denmark, as shown by a positive net migration of 25,639 people, whereas Slovakia experiences a negative net migration of -21,027. Overall, Denmark demonstrates a more favorable health outlook and demographic profile compared to Slovakia.

Economy

Denmark's GDP per capita stands at a remarkable $71,852, significantly higher than Slovakia's $26,148. Similarly, when considering purchasing power parity (PPP), Denmark maintains a strong advantage with $79,514 compared to Slovakia's $47,181. The inflation rate is also much lower in Denmark at 1.4%, opposed to Slovakia's 2.8%, indicating better economic stability. However, the export of goods and services as a percentage of GDP is higher in Slovakia at 85.2%, while Denmark's stands at 69.7%. This indicates that Slovakia has a more export-dependent economy. Nevertheless, Denmark outperforms Slovakia in several economic indicators, showcasing a more robust and higher standard of living overall.

Trade and Investment

Denmark's high-technology exports amount to $16.1 billion, slightly exceeding Slovakia's $10.1 billion. In terms of net foreign direct investment (FDI) inflows, Denmark also showcases strength with 4.2% of GDP, while Slovakia has 2.5%. Furthermore, Denmark's current account balance is markedly favorable at 13%, compared to -2.7% for Slovakia. These indicators reflect Denmark's capacity to attract higher levels of investments and manage trade more effectively than Slovakia.

Governance and Institutions

Denmark exhibits excellent governance qualities, ranking high in multiple dimensions. With a control of corruption score of 2.4 and government effectiveness score of 2, Denmark ranks 2nd and 1st globally, respectively. In contrast, Slovakia struggles with significantly lower scores, landing in lower ranks (62nd for corruption and 74th for government effectiveness). Denmark also ranks favorably in regulatory quality (1.8) and rule of law (1.9) compared to Slovakia's 0.6 in both categories, reflecting a substantial difference in institutional strength and governance capabilities.

Infrastructure and Technology

Denmark’s logistics performance index is notable at 4.1, indicating high-quality trade and transport-related infrastructure, while Slovakia lags behind with a score of 3.3. Digital connectivity is a significant strength for Denmark, where 99.8% of its population uses the internet, vastly outstripping Slovakia's 89.8%. These technology and infrastructure advantages in Denmark suggest a more conducive environment for business operations and efficient trade compared to Slovakia.

Environment and Sustainability

In terms of renewable energy consumption, Denmark leads with 39.5% of its total energy consumption sourced from renewables, contrasting sharply with Slovakia's 17.9%. Looking at greenhouse gas emissions, Denmark's total emissions per capita are reported at 7 tons of CO2 equivalent, while Slovakia’s stand higher at 8.3 tons, indicating better performance in environmental management in Denmark. Furthermore, Denmark demonstrates stronger water management practices, with only 26.4% of freshwater withdrawn compared to Slovakia’s 2.4%. These data suggest that Denmark adopts a more sustainable approach to energy and environmental policies than Slovakia.