Estonia Estonia vs Italy Italy development indicators, 2024

Indicator
Estonia
Estonia, Value
Italy
Italy, Value
Estonia
Estonia, Rank
Italy
Italy, Rank
Estonia Estonia as % of
Italy Italy
Current account balance (% of GDP) -1.15 1.13 64 45
Exports of goods and services (% of GDP) 76.3 32.7 15 77 233 %
Foreign direct investment, net inflows (% of GDP) -8.18 0.918 105 74
GDP per capita (current US$) 31,170 40,226 41 28 77.5 %
GDP per capita, PPP (current international US$) 49,334 60,847 44 30 81.1 %
Imports of goods and services (% of GDP) 75.7 30.4 15 96 249 %
Inflation, consumer prices (annual %) 3.52 0.982 62 141 358 %
Net migration -7,742 95,246 147 19
Population, total 1,371,986 58,986,023 155 25 2.33 %

Demography and Health

Estonia's birth rate in 2023 stands at 8 per 1,000 people, higher than Italy's 6.4, ranking Estonia at 64th and Italy at 81st. The crude death rate is slightly higher in Estonia at 11.7 compared to Italy's 11.2, with Estonia ranked 35th and Italy 38th. Life expectancy in Estonia is lower at 78.5 years compared to Italy’s notably higher lifespan of 83.7 years, where Italy ranks 2nd globally while Estonia is 55th. Regarding child health, Estonia shows a lower mortality rate under 5 years at 2.1 per 1,000 live births versus Italy’s 2.8, with rankings of 81st for Estonia and 62nd for Italy. Furthermore, both countries share a prevalence of undernourishment at 2.5%. The suicide mortality rate is considerably higher in Estonia at 14.9 per 100,000 population in 2021, compared to Italy’s 7, ranking Estonia 8th and Italy 24th. Net migration trends indicate a negative figure for Estonia (-7,742), indicating more individuals leaving than arriving, while Italy benefits from a positive influx (95,246) in 2024.

Economy

Estonia's economy shows a strong reliance on exports, with exports of goods and services comprising 76.3% of its GDP compared to Italy's 32.7%, ranking Estonia 43rd and Italy 106th. However, Estonia’s GDP per capita, at $31,170, is lower than Italy's $40,226, placing Estonia at 59th and Italy at 42nd. When adjusted for purchasing power parity (PPP), Estonia's GDP per capita ($49,334) still lags behind Italy ($60,847), ranking Estonia 66th and Italy 39th. The inflation rate is notably higher in Estonia at 3.5% compared to Italy's 1%. Estonia's significant reliance on high technology outputs is evidenced by $2.1 billion in high-technology exports, significantly less than Italy's $52.2 billion, with ranks of 69 for Estonia and 15 for Italy. Both nations have a negative current account balance, with Estonia at -1.1% of GDP compared to Italy's healthier 1.1%. Unemployment in Estonia is at 6.4%, lower than Italy's 7.6%, reflecting different labor market conditions.

Trade and Investment

Estonia is marked by a high level of trade activity, with imports of goods and services constituting 75.7% of its GDP compared to Italy's 30.4%, ranking Estonia at 39th and Italy at 107th. Foreign direct investment (FDI) net inflows as a percentage of GDP show a stark contrast, with Estonia experiencing a negative inflow of -8.2%, while Italy enjoys positive inflows of 0.9%, ranking both nations low at 97th and 86th respectively. This highlights differing challenges in attracting foreign investment.

Governance and Institutions

The governance in Estonia is perceived more positively than in Italy, as suggested by various indicators. Estonia ranks 23rd in the Control of Corruption metric with a score of 1.5, compared to Italy’s 53rd place at 0.6. Government Effectiveness also favors Estonia, with a score of 1.3 placing it at 26th, while Italy ranks 58th with a score of 0.6. Regulatory Quality and Rule of Law further reinforce this view, with Estonia holding ranks of 24th and 25th compared to Italy's 63rd and 69th positions. Political stability measurements suggest both countries are experiencing similar challenges, putting Estonia at the 43rd rank with a score of 0.7 and Italy at 53rd with 0.6. Military expenditure substantially favors Italy, with $35.5 billion compared to Estonia's $1.2 billion, ranking Italy 8th globally and Estonia 63rd.

Infrastructure and Technology

Estonia shows a robust digital landscape, with Internet usage at 93.2% of the population, substantially higher than Italy, which stands at 87%, with Estonia ranking 26th and Italy at 61st globally. In terms of logistics performance, Estonia's infrastructure quality is rated at 3.5 on a scale of 1 to 5, slightly lower than Italy's score of 3.8, positioning Estonia at 16th and Italy at 8th place. Additionally, Estonia invests 1.8% of its GDP in research and development, outpacing Italy's 1.4%, with Estonia ranked 21st and Italy 35th, indicating a strong commitment towards innovation.

Environment and Sustainability

Estonia is proactive in renewable energy consumption, with 38% of its total final energy coming from renewable sources, substantially higher than Italy's 17.5%, ranking Estonia 5th globally and Italy 18th. However, Estonia's total greenhouse gas emissions per capita at 10.5 tons CO2e is notably higher than Italy's 6.3 tons, where Estonia ranks 14th and Italy ranks 62nd in environmental impact. Addressing water stress, Estonia has a significantly better position, withdrawing only 10.8% of its available freshwater resources, compared to Italy’s 29.6%, with rankings of 16th for Estonia and 8th for Italy.