Estonia Estonia vs Sweden Sweden development indicators, 2024

Indicator
Estonia
Estonia, Value
Sweden
Sweden, Value
Estonia
Estonia, Rank
Sweden
Sweden, Rank
Estonia Estonia as % of
Sweden Sweden
Current account balance (% of GDP) -1.15 7.42 64 13
Exports of goods and services (% of GDP) 76.3 54.6 15 34 140 %
Foreign direct investment, net inflows (% of GDP) -8.18 4.37 105 22
GDP per capita (current US$) 31,170 57,723 41 14 54 %
GDP per capita, PPP (current international US$) 49,334 71,030 44 23 69.5 %
Imports of goods and services (% of GDP) 75.7 50.2 15 56 151 %
Inflation, consumer prices (annual %) 3.52 2.84 62 88 124 %
Net migration -7,742 50,115 147 24
Population, total 1,371,986 10,569,709 155 92 13 %

Demography and Health

Estonia has a crude birth rate of 8 per 1,000 people, which is slightly lower than Sweden's 9.5. In terms of death rate, Estonia sees a higher rate at 11.7 compared to Sweden's 9, reflecting potential challenges in health care and aging population issues. Life expectancy in Estonia stands at 78.5 years, considerably shorter than Sweden's 83.3 years, indicating differences in health and wellness policies. Furthermore, Estonia's under-5 mortality rate is 2.1 per 1,000 live births, which is marginally lower than Sweden’s 2.5, suggesting reasonable health care for young children in Estonia. Estonia faces a significant issue with net migration, with a loss of 7,742 people in 2024, while Sweden benefits from a net gain of 50,115 residents, reflecting differences in immigration attractiveness and policies. The prevalence of undernourishment is stable at 2.5% in both countries.

Economy

Estonia's GDP per capita is $31,170, considerably lower than Sweden's $57,723. When adjusted for purchasing power parity (PPP), the figures are $49,334 for Estonia compared to $71,030 for Sweden, indicating a significant disparity in overall economic well-being. Estonia's economy is heavily reliant on exports, with exports accounting for 76.3% of GDP, in contrast to Sweden's 54.6%. However, Estonia faces challenges with high import levels at 75.7% of GDP compared to Sweden's 50.2%. Inflation is a concern for Estonia, with annual consumer prices rising by 3.5%, while Sweden sees a more moderate increase at 2.8%. Estonia also struggles with a poverty headcount ratio of 22.5%, significantly worse than Sweden's 16.1%, suggesting higher levels of economic inequality.

Trade and Investment

Estonia's foreign direct investment (FDI) net inflows are negative at -8.2% of GDP, indicating an outflow of investment relative to its GDP. Sweden, in contrast, enjoys positive net inflows at 4.4% of GDP, showing a healthier investment climate. Estonia’s exports of high-technology products amount to $2.1 billion, a stark contrast to Sweden’s $25.2 billion, showcasing Sweden’s advanced technological sectors. The balance of current accounts also reveals weaknesses for Estonia at -1.1% of GDP versus Sweden's strong positive balance of 7.4%.

Governance and Institutions

In the realm of governance, Estonia performs reasonably well, with a Control of Corruption score of 1.5 compared to Sweden's 2.0, reflecting relatively higher corruption challenges in Estonia. Government effectiveness in Estonia is rated at 1.3, lower than Sweden’s 1.6. Additionally, Sweden stands out for its political stability, achieving a score of 0.8 compared to Estonia's score of 0.7. Outcomes for rule of law and regulatory quality also favor Sweden, indicating stronger institutional frameworks that facilitate effective governance and regulatory processes. Unemployment rates are relatively lower in Sweden at 7.6% compared to Estonia's 6.4%, implying a slightly healthier job market in Sweden.

Infrastructure and Technology

Austria has made advancements in technology use, with 93.2% of its population utilizing the Internet versus 95.7% in Sweden, suggesting similar levels of technological adoption. However, there are differences in logistics performance, where Estonia scores 3.5 against Sweden's superior score of 4.2, indicating better trade and transport-related infrastructure in Sweden. Estonia also has a much lower number of patent applications at 25 compared to Sweden's 1,771, reflecting differences in innovation capacity and R&D effectiveness.

Environment and Sustainability

When it comes to environmental sustainability, Estonia has a higher renewable energy consumption rate at 38%, but this still falls short of Sweden's impressive 57.9%. The country also faces challenges with water stress, using 10.8% of its available freshwater resources as opposed to Sweden's lower rate of 3.6%. Greenhouse gas emissions per capita show Estonia's heavier footprint at 10.5 tons of CO2e whereas Sweden keeps its emissions to a low 4.7 tons, indicating a stronger commitment to combating climate change in Sweden.