Finland Finland vs Croatia Croatia development indicators, 2024

Indicator
Finland
Finland, Value
Croatia
Croatia, Value
Finland
Finland, Rank
Croatia
Croatia, Rank
Finland Finland as % of
Croatia Croatia
Current account balance (% of GDP) 0.31 -1.13 50 63
Exports of goods and services (% of GDP) 41.6 49.8 59 39 83.4 %
Foreign direct investment, net inflows (% of GDP) 0.661 5.04 81 21 13.1 %
GDP per capita (current US$) 53,189 23,931 21 50 222 %
GDP per capita, PPP (current international US$) 64,091 48,575 27 46 132 %
Imports of goods and services (% of GDP) 40.9 52.9 70 52 77.3 %
Inflation, consumer prices (annual %) 1.57 2.97 125 80 52.7 %
Net migration 26,894 -5,186 32 139
Population, total 5,637,214 3,866,300 116 129 146 %

Demography and Health

In terms of demography, Finland's birth rate is slightly lower than Croatia's, standing at 7.8 births per 1,000 people compared to Croatia's 8.3. However, Finland has a significantly lower death rate at 11 per 1,000 people, compared to Croatia's 13.3, indicating a potentially healthier population. Life expectancy at birth is higher in Finland at 81.7 years against Croatia's 78.5 years. Finland also excels in child health, shown by a lower under-5 mortality rate of 2.3 per 1,000 live births versus Croatia's 4.6. Finland's health expenditure is higher, with 9.7% of GDP compared to 7.2% in Croatia, suggesting a stronger healthcare system. Moreover, the number of physicians per 1,000 people is greater in Finland (4.4) than in Croatia (3.6), indicating better healthcare access. On the mental health front, Finland has a lower suicide mortality rate (14.6 per 100,000) compared to Croatia's 15.7.

Economy

Finland's economy displays notable strength with a GDP per capita of $53,189, significantly higher than Croatia's $23,931. This superior economic performance is further emphasized by Finland's higher GDP per capita (PPP) at $64,091 versus Croatia's $48,575. In terms of exports as a percentage of GDP, Finland has 41.6%, whereas Croatia is higher at 49.8%. However, imports as a percentage of GDP also show that Finland is less reliant on imports (40.9%) compared to Croatia's 52.9%. Inflation rates in Finland stand at a low 1.6%, while Croatia experiences higher inflation at 3%.

Trade and Investment

When it comes to trade and investment, Finland's high-technology exports are notable, reaching $5.3 billion, which is significantly greater than Croatia's $1.7 billion. In terms of foreign direct investment (FDI) inflows, Finland sees a lower percentage of GDP with 0.7%, compared to Croatia’s 5%. Additionally, the current account balance in Finland is slight at 0.3% of GDP, contrasting with Croatia's deficit of -1.1%. The research and development expenditure, which could foster innovation, is substantially higher in Finland at 3% of GDP, compared to Croatia’s 1.4%.

Governance and Institutions

Finland ranks significantly higher than Croatia in terms of governance and institutional effectiveness. It scores 2.2 on the control of corruption index compared to Croatia's 0.2, indicating a more transparent government. Similarly, Finland's government effectiveness score is 1.7 against Croatia's 0.7, showcasing a more efficient public sector. In terms of regulatory quality, Finland scores 1.8, compared to Croatia's 0.6, indicating a more stable regulatory environment. Furthermore, the rule of law is much stronger in Finland (2) than in Croatia (0.4), suggesting better protection of rights and a more effective judiciary.

Infrastructure and Technology

Finland has a superior logistics performance index, scoring 4.2 in the quality of trade and transport-related infrastructure, compared to Croatia's score of 3. This highlights Finland's advanced logistical capabilities and infrastructure. Internet usage is also higher in Finland, with 93.5% of the population online compared to 83.2% in Croatia, reflecting greater technological integration and accessibility. The net migration figure depicts a positive influx for Finland (26,894), whereas Croatia experiences an outflow (-5,186), indicating better attractiveness for skilled labor in Finland.

Environment and Sustainability

Finland excels in environmental sustainability with a renewable energy consumption percentage of 50.2%, which is considerably higher than Croatia's 34.1%. Additionally, water stress appears to be less of an issue in Finland due to a lower proportion of freshwater withdrawal (7.1%) compared to Croatia (1.5%). Finland's greenhouse gas emissions per capita are 7.8 tonnes, which is higher than Croatia's 6.5 tonnes, suggesting that although Finland's emissions are higher, the lower environmental impact percentage indicates a better balance in sustainability practices.