Estonia Estonia vs Hungary Hungary development indicators, 2024

Indicator
Estonia
Estonia, Value
Hungary
Hungary, Value
Estonia
Estonia, Rank
Hungary
Hungary, Rank
Estonia Estonia as % of
Hungary Hungary
Current account balance (% of GDP) -1.15 2.28 64 37
Exports of goods and services (% of GDP) 76.3 74.7 15 17 102 %
Foreign direct investment, net inflows (% of GDP) -8.18 -14.7 105 107 55.6 %
GDP per capita (current US$) 31,170 23,311 41 54 134 %
GDP per capita, PPP (current international US$) 49,334 47,636 44 47 104 %
Imports of goods and services (% of GDP) 75.7 69.1 15 23 110 %
Inflation, consumer prices (annual %) 3.52 3.7 62 58 95.1 %
Net migration -7,742 16,223 147 41
Population, total 1,371,986 9,562,314 155 96 14.3 %

Demography and Health

In 2023, Estonia reported a crude birth rate of 8 per 1,000 people, while Hungary had a slightly higher rate of 9.1 per 1,000 people, ranking 64th and 38th respectively. The crude death rate was lower in Estonia at 11.7 per 1,000 compared to Hungary's 13.4, with Estonia ranked 35th and Hungary ranked 19th. The life expectancy at birth in Estonia is 78.5 years, compared to 76.8 years in Hungary, showing Estonia's better health outcomes. The under-5 mortality rate is significantly lower in Estonia (2.1 per 1,000 live births) compared to Hungary (3.8), with ranks of 81 and 28, respectively. The suicide mortality rate in Estonia is 14.9 per 100,000 population, lower than Hungary's 16.4, where Estonia ranks 8th and Hungary ranks 5th. Both countries have a prevalence of undernourishment at 2.5% of the population.

Economy

As of 2024, Estonia boasts a GDP per capita of $31,170, which is significantly higher than Hungary's $23,311, placing Estonia 59th and Hungary 84th globally. In terms of purchasing power parity, Estonia again leads with $49,334 compared to Hungary's $47,636. The inflation rate in 2024 is slightly lower in Estonia at 3.5% compared to Hungary's 3.7%. The unemployment rate in Estonia stands at 6.4%, while Hungary has a considerably lower rate of 4.1%. Despite these economic figures, both countries are experiencing negative foreign direct investment inflows, with Estonia at -8.2% and Hungary at -14.7%, ranking 97th and 100th respectively.

Trade and Investment

Estonia's economy is significantly export-oriented, with exports of goods and services accounting for 76.3% of its GDP in 2024, compared to 74.7% in Hungary. Estonia ranks 43rd and Hungary 44th for their export percentages. The imports of goods and services as a percentage of GDP are higher in Estonia at 75.7%, compared to Hungary's 69.1%. Hungary's total foreign direct investment inflows are worse, making it reliant on internal economic measures to stabilize its economy.

Governance and Institutions

In terms of governance, Estonia scores better than Hungary across several key indicators. The Control of Corruption index places Estonia at 1.5, ranking 23rd, while Hungary has a rank of 76 at 0.0. Government effectiveness is also higher in Estonia at 1.3 (26th rank), compared to Hungary's 0.4 (70th rank). The country also exhibits a stronger Rule of Law index, with Estonia at 1.4 (25th) versus Hungary at 0.4 (65th). Both countries are experiencing similar levels of political stability, both scoring 0.7, ranking 43rd and 31st respectively.

Infrastructure and Technology

Estonia ranks significantly higher than Hungary in terms of logistics performance, with a score of 3.5 (16th rank) compared to Hungary's 3.1 (22nd). The country's commitment to innovation is evident in its higher number of patent applications per capita, with Estonia applying for 25 patents in 2021 versus Hungary's 433. Research and development expenditure as a percentage of GDP is also stronger in Estonia at 1.8%, compared to Hungary's 1.4%.

Infrastructure and Technology

Estonia's commitment to renewable energy is notable, with 38% of its total final energy consumption sourced from renewable options, while Hungary lags at 15.3%. This rank of 5th for Estonia suggests a broader commitment to sustainable practices compared to Hungary's rank of 22nd in renewable energy consumption.

Environment and Sustainability

With respect to environmental sustainability, Estonia produces higher per capita greenhouse gas emissions at 10.5 tons of CO2 equivalent per capita, ranking 14th globally, while Hungary's emissions are considerably lower at 6.4 tons, ranking 61st. Furthermore, Estonia's level of water stress is at 10.8%, contributing to its emphasis on sustainable water management policies. This is slightly higher than Hungary's 8.1%, indicating a different approach to managing available water resources. The country's investment in research and development also highlights Estonia's future-focused strategy, particularly on sustainability efforts.