Finland Finland vs Malta Malta development indicators, 2024

Indicator
Finland
Finland, Value
Malta
Malta, Value
Finland
Finland, Rank
Malta
Malta, Rank
Finland Finland as % of
Malta Malta
Current account balance (% of GDP) 0.31 5.69 50 19 5.46 %
Exports of goods and services (% of GDP) 41.6 123 59 6 33.7 %
Foreign direct investment, net inflows (% of GDP) 0.661 175 81 1 0.378 %
GDP per capita (current US$) 53,189 42,347 21 27 126 %
GDP per capita, PPP (current international US$) 64,091 67,364 27 24 95.1 %
Imports of goods and services (% of GDP) 40.9 106 70 6 38.6 %
Inflation, consumer prices (annual %) 1.57 1.65 125 123 94.8 %
Net migration 26,894 6,323 32 52 425 %
Population, total 5,637,214 574,346 116 170 982 %

Demography and Health

Finland has a crude birth rate of 7.8 per 1,000 people, slightly lower than Malta's rate of 8.1. In terms of mortality, Finland experiences a higher crude death rate of 11 per 1,000 people compared to Malta's 7.3, indicating potential challenges in health systems or aging population dynamics. Life expectancy at birth is 81.7 years in Finland, while Malta has a higher life expectancy of 83.5 years, reflecting better health outcomes. Additionally, Finland has a lower under-5 mortality rate at 2.3 per 1,000 live births compared to Malta's 5.5. Net migration figures show Finland attracting 26,894 migrants, demonstrating a positive migration trend against Malta's 6,323.

Economy

Finland's GDP per capita stands at $53,189, which is significantly higher than Malta's GDP per capita of $42,347. In terms of purchasing power parity (PPP), Finland has a GDP per capita of $64,091, slightly lower than Malta's $67,364, indicating different cost of living adjustments. The inflation rates for both countries are relatively low, with Finland at 1.6% and Malta at 1.7%. The unemployment rate in Finland is 7.2%, higher than Malta's impressive rate of 3.1%, reflecting stronger labor market performance in Malta. Furthermore, Finland's research and development expenditure is notably higher at 3% of GDP, compared to Malta's 0.6%.

Trade and Investment

Finland's exports of goods and services account for 41.6% of its GDP, a sign of a solid integrative trade strategy, whereas Malta's exports dominate at an impressive 123% of GDP. This substantial figure indicates Malta's reliance on external markets. In terms of foreign direct investment, Finland sees net inflows of 0.7% of GDP, while Malta excels with 175%, illustrating its attractiveness as an investment hub. Finland also ranks higher in high-technology exports, at $5.3 billion compared to Malta's $1.2 billion, signifying Finland's advanced manufacturing capabilities.

Governance and Institutions

In governance metrics, Finland far outperforms Malta with a Control of Corruption score of 2.2 against Malta's poor score of 0.1. Additionally, Finland shines in Government Effectiveness with a score of 1.7 compared to Malta's meager 0.4. Finland's Rule of Law is highly rated at 2, whereas Malta's is significantly lower at 0.7. The political stability score for Finland is 0.7, compared to Malta's score of 0.9, indicating a robust yet comparatively stable environment in Malta. Overall, Finland's governance structures appear to foster transparency and efficiency more effectively than those of Malta.

Infrastructure and Technology

Finland excels in infrastructure, with a logistics performance index rating of 4.2 versus Malta's 3.7, highlighting superior trade and transport infrastructure quality. Furthermore, the internet usage in Finland leads at 93.5% of the population, slightly ahead of Malta's 92.1%. The superior logistical and technological landscape in Finland points toward a well-developed infrastructure that likely supports its economy more robustly than Malta's.

Environment and Sustainability

Finland has made commendable strides in sustainability, with 50.2% of its total final energy consumption coming from renewable sources, in stark contrast to Malta's modest 8.6%. Finland's water stress level is also significantly lower, with freshwater withdrawal at only 7.1% of available resources compared to Malta's concerning 78.3%. However, when analyzing greenhouse gas emissions per capita, Finland produces 7.8 tons of CO2 per capita, significantly higher than Malta's 3.7 tons, showing room for improvement in Finland's carbon footprint management. Overall, Finland leads in several sustainability metrics, whereas Malta still needs to address its environmental challenges more aggressively.