Finland vs Lithuania development indicators, 2024

Indicator	Finland, Value	Lithuania, Value	Finland, Rank	Lithuania, Rank	Finland as % of Lithuania
Current account balance (% of GDP)	0.31	2.48	50	35	12.5 %
Exports of goods and services (% of GDP)	41.6	74.1	59	19	56.1 %
Foreign direct investment, net inflows (% of GDP)	0.661	4.24	81	24	15.6 %
GDP per capita (current US$)	53,189	29,386	21	44	181 %
GDP per capita, PPP (current international US$)	64,091	54,414	27	37	118 %
Imports of goods and services (% of GDP)	40.9	68.9	70	24	59.3 %
Inflation, consumer prices (annual %)	1.57	0.716	125	145	219 %
Net migration	26,894	2,617	32	61	1,028 %
Population, total	5,637,214	2,888,055	116	138	195 %

Demography and Health

In terms of demographic indicators, Finland has a slightly higher birth rate of 7.8 compared to Lithuania's 7.2, ranking Finland at 68 and Lithuania at 74 globally. The death rate in Finland stands at 11 per 1,000 people, which is lower than Lithuania's 12.9, with Finland ranked at 41 and Lithuania at 23. Life expectancy at birth in Finland is significantly higher at 81.7 years compared to 77 years in Lithuania, ranking them at 30 and 62, respectively. Moreover, the under-5 mortality rate in Finland is 2.3 per 1,000 live births, which is lower than Lithuania’s 3.4, ranking Finland at 72 and Lithuania at 47. Regarding health investment, Finland spends more on domestic general government health expenditure per capita (PPP) at 4,943 US dollars compared to Lithuania's 2,434. Additionally, Finland has a notably lower suicide mortality rate of 14.6 per 100,000 population than Lithuania's 22.1, ranking Finland at 9 and Lithuania at 1. Net migration in Finland is quite positive, standing at 26,894, while Lithuania has significantly lower migration figures at 2,617.

Economy

Finland's GDP per capita stands at 53,189 US dollars, considerably higher than Lithuania's 29,386 US dollars, with ranks of 28 for Finland and 63 for Lithuania. In terms of purchasing power parity (PPP), Finland's GDP per capita is also superior at 64,091 international US dollars to Lithuania's 54,414, ranking Finland at 30 and Lithuania at 53. On the inflation front, Finland has an annual rate of 1.6%, while Lithuania experiences a lower rate of 0.7%. Exports of goods and services as a percentage of GDP are 41.6% for Finland, contrasted with a remarkable 74.1% for Lithuania, which places Finland at 90 and Lithuania at 45. Imports similarly show a stark difference, with Finland at 40.9% and Lithuania at 68.9%. Foreign direct investment inflows are notably different as well, with Finland at 0.7% of GDP and Lithuania at 4.2%, ranking them at 87 and 34, respectively.

Trade and Investment

Finland's high-technology exports amount to 5.3 billion US dollars, marginally ahead of Lithuania's 3.7 billion US dollars. The logistics performance index, which measures the quality of trade and transport-related infrastructure, is higher for Finland at 4.2 compared to Lithuania's 3.5, positioning Finland at rank 2 and Lithuania at rank 16. The current account balance in 2024 shows a modest surplus for Finland at 0.3% of GDP against Lithuania's more substantial surplus of 2.5%. While Lithuania exhibits stronger foreign investment capacity, Finland maintains an edge in high-tech sectors, indicating differing focuses on areas of economic development.

Governance and Institutions

Governance indicators reflect Finland's robust institutional framework, with a Control of Corruption score of 2.2, ranking 6th globally, while Lithuania scores 0.8, ranking at 35th. Government effectiveness in Finland is rated at 1.7 compared to Lithuania's 1.1, with ranks of 8 and 38, respectively. The regulatory quality in Finland is also higher at 1.8 versus Lithuania's 1.3, indicating better or more consistent governance practices. The rule of law metric further underscores Finland's strengths, scoring 2, ranking 2nd, compared to Lithuania's score of 1.3, which ranks it at 31. Lastly, both countries exhibit similar levels of political stability and absence of violence/terrorism, both rated at 0.7.

Infrastructure and Technology

Regarding infrastructure and technology, Finland outperforms Lithuania in general terms. Finland scores 4.2 on the logistics performance index, indicating high-quality infrastructure, ranking it 2nd globally. In contrast, Lithuania scores 3.5, placing it at 16th. The high rates of internet usage in Finland at 93.5% of the population, compared to Lithuania's 88.5%, reflect technological adoption, ranking Finland at 24 and Lithuania at 57. Furthermore, the research and development expenditure as a percentage of GDP further showcases the innovation capabilities of these countries, with Finland at 3% (rank 10) and Lithuania at only 1.1% (rank 39).

Environment and Sustainability

Finland leads in environmental sustainability with a high renewable energy consumption rate of 50.2% of total final energy consumption, ranking 2nd globally, compared to Lithuania's 33.2% ranking at 8. Furthermore, while both countries exhibit a prevalence rate of undernourishment at 2.5%, Finland faces significantly lower water stress levels, with only 7.1% of good water withdrawal compared to Lithuania's 1.8%, highlighting effective water resource management. In terms of greenhouse gas emissions, Finland generates 7.8 tons of CO2e per capita, while Lithuania slightly lower at 7.2 tons per capita, ranking Finland at 39 and Lithuania at 47. These indicators demonstrate that while Finland excels in innovative environmental strategies, both countries show a commitment to sustainability and social welfare.