Finland vs Ireland development indicators, 2024

Demography and Health

In terms of demographics, Finland exhibited a lower birth rate of 7.8 per 1,000 people compared to Ireland's 10.3, ranking Finland 68th and Ireland 13th globally. Conversely, Finland faced a higher death rate at 11 per 1,000, substantially above Ireland’s 6.6, ranking Finland 41st against Ireland's 80th. Life expectancy in Finland stood at 81.7 years, slightly lower than Ireland's 82.9, placing Finland 30th and Ireland 12th. Under-5 mortality rates were also more favorable in Finland at 2.3 per 1,000 live births than Ireland's 3.8 (Finland 72nd, Ireland 28th). Finland's net migration in 2024 was 26,894, while Ireland had 39,059, reflecting a higher attraction for migrants in Ireland, though both countries maintain a low prevalence of undernourishment at 2.5%.

Economy

When examining economic indicators, Finland's GDP per capita was significantly lower at $53,189 compared to Ireland's $107,316, ranking Finland 28th and Ireland 5th. In terms of high-technology exports, Finland produced $5.3 billion, markedly lower than Ireland's $91.4 billion. The ratio of exports of goods and services to GDP is also a telling sign of economic structure, with Finland at 41.6% and Ireland significantly higher at 148%. Finland's imports were similarly substantial at 40.9% of GDP compared to Ireland's 105%, highlighting Ireland's reliance on imports as part of its economy. Inflation rates were more moderate in Finland at 1.6% compared to Ireland's 2.1%, ranking Finland 101st and Ireland 91st for consumer price stability.

Trade and Investment

Finland's position in trade and investment shows strengths and weaknesses relative to Ireland. While Finland's exports of high-technology goods and total export portion of GDP are considerably lower than Ireland's, they rank higher on the logistics performance index (4.2 for Finland, 3.5 for Ireland) indicating better quality in trade and transport-related infrastructure. However, Finland lags in attracting foreign investment, as evidenced by lower figures in GDP per capita and high-tech exports, which are often vital indicators of investment-oriented activities.

Governance and Institutions

Finland rates highly in various governance metrics, with a control of corruption score of 2.2 placing it 6th globally, in contrast to Ireland's 1.6 (21st rank). Government effectiveness and regulatory quality both score well for Finland (1.7 and 1.8) than what Ireland achieved (1.6 in both cases). The rule of law is also notably stronger in Finland, scoring 2 compared to Ireland's 1.6, positioning Finland as 2nd globally. Political stability, however, sees Finland at 0.7 and Ireland slightly better at 0.9 while unemployment rates show Finland at 7.2%, higher than Ireland’s 4.3% which reveals more robust job market conditions in Ireland.

Infrastructure and Technology

On the digital front, both countries have impressive internet penetration, with Finland at 93.5% and Ireland slightly higher at 96.5%. Moreover, Finland leads the way in research and development expenditure at 3% of GDP versus Ireland's lowly 1%. Additionally, patent applications from residents further illustrate Finland's emphasis on innovation with a count of 1557 compared to Ireland’s only 75. This disparity suggests that while Ireland may have more significant high-tech exports, Finland is fostering a more innovative environment domestically.

Environment and Sustainability

In environmental metrics, Finland stands out with an impressive renewable energy consumption rate of 50.2%, far exceeding Ireland's 12.7%. Finland's level of water stress is considerably lower, at 7.1% versus Ireland's 22.2%, indicating a more sustainable approach to water resource management. Additionally, Finland's greenhouse gas emissions per capita are reported at 7.8 tons CO2e, lower than Ireland’s 10.9, showcasing stronger performance in reducing carbon footprints. These findings reflect Finland’s commitment to sustainability and better environmental management compared to Ireland.