Denmark Denmark vs Sweden Sweden development indicators, 2024

Indicator
Denmark
Denmark, Value
Sweden
Sweden, Value
Denmark
Denmark, Rank
Sweden
Sweden, Rank
Denmark Denmark as % of
Sweden Sweden
Current account balance (% of GDP) 13 7.42 8 13 175 %
Exports of goods and services (% of GDP) 69.7 54.6 24 34 128 %
Foreign direct investment, net inflows (% of GDP) 4.21 4.37 26 22 96.3 %
GDP per capita (current US$) 71,852 57,723 11 14 124 %
GDP per capita, PPP (current international US$) 79,514 71,030 13 23 112 %
Imports of goods and services (% of GDP) 58.9 50.2 36 56 117 %
Inflation, consumer prices (annual %) 1.37 2.84 129 88 48.4 %
Net migration 25,639 50,115 34 24 51.2 %
Population, total 5,976,992 10,569,709 114 92 56.5 %

Demography and Health

Denmark and Sweden exhibit similar demographics, with Denmark's crude birth rate slightly higher at 9.7 per 1,000 people compared to Sweden's 9.5. However, both nations face challenges related to death rates; Denmark's is 9.8 whereas Sweden's is marginally lower at 9, ranking Denmark 54th and Sweden 66th globally. Life expectancy at birth paints a different picture with Sweden leading at 83.3 years compared to Denmark's 81.9 years, indicating a healthier population overall. However, when considering the mortality rate for children under five, Denmark's rate is higher at 3.4 compared to Sweden’s 2.5. Despite the lower birth rate, net migration to Denmark is 25,639 compared to Sweden's higher influx of 50,115 migrants, indicating differing immigration policies and economic opportunities. Both countries have a prevalence of undernourishment at 2.5%, reflecting strong food security in both nations.

Economy

Denmark's economy is robust with a GDP per capita of $71,852, significantly higher than Sweden's $57,723. This positions Denmark 9th globally against Sweden’s 18th. In terms of GDP per capita adjusted for purchasing power parity (PPP), Denmark again outperforms Sweden, with figures of $79,514 versus $71,030, showcasing Denmark's economic strength. Exports form a major part of the Danish economy, making up 69.7% of GDP compared to Sweden's 54.6%. Both nations incur high imports, Denmark at 58.9% and Sweden at 50.2%. Inflation rates show a stark contrast, with Denmark experiencing low inflation at 1.4% compared to Sweden's 2.8%, which could reflect more stable economic policies in Denmark. Additionally, Denmark has a lower unemployment rate at 5.1% compared to Sweden's 7.6%, suggesting a more favorable labor market.

Trade and Investment

In trade, Denmark leads with higher exports, which are critical for its GDP, and a current account balance of 13% against Sweden’s 7.4%. Denmark's foreign direct investment inflows are slightly lower at 4.2% compared to Sweden's 4.4%, indicating a competitive investment environment in both countries. Denmark's high-technology exports are valued at $16.1 billion, while Sweden surpasses this with $25.2 billion, highlighting Sweden's strength in technology-driven industries. However, in patent applications, Denmark holds a rank of 10 with 1,090 applications whereas Sweden ranks 7 with 1,771 applications, showcasing innovation dynamics in both Norwegian economies.

Governance and Institutions

Governance in Denmark is marked by higher effectiveness and lower corruption, evident from its ranking in Government Effectiveness and Control of Corruption at 1 and 2.4 respectively. Sweden ranks lower at 13 and 9, indicating potential issues with governance quality. Regulatory quality is similar, with Denmark scoring 1.8 versus Sweden’s 1.7. The Rule of Law index also favors Denmark at 1.9 compared to Sweden’s 1.6, emphasizing the strength of legal institutions in Denmark. Denmark reflects a slight edge in political stability, scoring 0.9 compared to Sweden's 0.8. Both nations, however, maintain reputable governance structures, underpinning their high rankings in global indices.

Infrastructure and Technology

Infrastructural development is relatively high in both countries, with Denmark scoring 4.1 in logistics performance index, slightly lagging behind Sweden's 4.2. This reflects the quality of trade and transport-related infrastructure vital for economic activities. Investment in research and development as a percentage of GDP reveals Denmark at 2.9% while Sweden leads with 3.4%, indicating a stronger focus on innovation in Sweden, crucial for future technological advancement.

Environment and Sustainability

Denmark excels in renewable energy consumption with 39.5% of its total energy consumption sourced from renewables, although Sweden surpasses this with an impressive 57.9%. This indicates Sweden's commitment to sustainable energy practices. Regarding greenhouse gas emissions, Denmark emits 7 tons of CO2e per capita, while Sweden's emissions are lower at 4.7 tons, underscoring Sweden's superior environmental policies. Notably, Denmark faces considerable water stress with a score of 26.4, much higher than Sweden's manageable 3.6, highlighting differences in water resource management strategies. The overall sustainability initiatives in Sweden suggest a more aggressive approach towards environmental preservation and climate change management.