Finland Finland vs Poland Poland development indicators, 2024

Indicator
Finland
Finland, Value
Poland
Poland, Value
Finland
Finland, Rank
Poland
Poland, Rank
Finland Finland as % of
Poland Poland
Current account balance (% of GDP) 0.31 0.196 50 52 159 %
Exports of goods and services (% of GDP) 41.6 52.3 59 37 79.4 %
Foreign direct investment, net inflows (% of GDP) 0.661 2.02 81 53 32.7 %
GDP per capita (current US$) 53,189 25,023 21 48 213 %
GDP per capita, PPP (current international US$) 64,091 50,378 27 42 127 %
Imports of goods and services (% of GDP) 40.9 48.3 70 58 84.7 %
Inflation, consumer prices (annual %) 1.57 3.79 125 56 41.3 %
Net migration 26,894 -238,062 32 207
Population, total 5,637,214 36,554,707 116 42 15.4 %

Demography and Health

In 2023, Finland's crude birth rate stood at 7.8 per 1,000 people, slightly higher than Poland's 7.4. Both countries face similar death rates, with Finland at 11 and Poland at 11.1. The life expectancy at birth in Finland is significantly higher at 81.7 years compared to Poland's 78.5 years. Finland also excels in child health, with a mortality rate under-5 of 2.3 per 1,000 live births, while Poland's rate is higher at 4.4. Moreover, Finland has a positive net migration of 26,894, indicating a growing population, whereas Poland has a negative migration rate of -238,062. The prevalence of undernourishment is similar in both countries at 2.5%.

Economy

Finland's GDP per capita is substantially higher at $53,189 compared to Poland's $25,023. When adjusted for purchasing power parity, Finland's GDP per capita remains strong at $64,091, significantly outpacing Poland's $50,378. The inflation rate in Finland for 2024 is considerably lower at 1.6% versus Poland's 3.8%. However, in terms of high-technology exports, Poland leads with $29.6 billion compared to Finland's $5.3 billion. Both countries show a mixed picture regarding unemployment rates, with Finland at 7.2% and Poland much lower at 2.7%.

Trade and Investment

Exports of goods and services as a percentage of GDP show Finland at 41.6%, while Poland is notably higher at 52.3%. Similarly, imports also reflect this trend, with Finland at 40.9% and Poland at 48.3%. In terms of foreign direct investment (FDI), Finland has net inflows of 0.7% of GDP, whereas Poland benefits from higher inflows at 2%. The current account balance stands at 0.3% for Finland and 0.2% for Poland, indicating a marginally healthier trade position for Finland.

Governance and Institutions

In governance, Finland consistently outperforms Poland across several indicators. In the control of corruption, Finland has a score of 2.2 compared to Poland's 0.6, ranking 6th vs. 52nd, respectively. Finland also leads in government effectiveness (1.7 vs. 0.4) and regulatory quality (1.8 vs. 0.8). The rule of law is notably stronger in Finland, scoring 2 compared to Poland's 0.5. Political stability is comparable, with Finland at 0.7 and Poland slightly lower at 0.6. These indicators suggest that Finland has a more robust governance system overall.

Infrastructure and Technology

When evaluating infrastructure, Finland has a logistics performance index score of 4.2, indicating high-quality trade and transport-related infrastructure, while Poland scores lower at 3.5. Additionally, Finland's research and development expenditure as a percentage of GDP is 3%, significantly outpacing Poland's 1.5%. The rate of individuals using the Internet is higher in Finland at 93.5%, compared to Poland's 86.4%, suggesting a better technological adoption rate in Finland.

Environment and Sustainability

Finland showcases a commitment to sustainability with renewable energy consumption at 50.2% of total energy, far superior to Poland’s 15.2%. Finland ranks 2nd in this category, while Poland is ranked 23rd, highlighting Finland's advanced initiatives towards renewable energy. Regarding water stress, Finland's level is notably low at 7.1%, while Poland faces greater pressure on its freshwater resources, with a level of 32.1%. In terms of greenhouse gas emissions, Finland emits 7.8 tons CO2 equivalent per capita, while Poland’s higher 9.9 indicates a greater environmental impact. These metrics position Finland as a leader in environmental sustainability compared to Poland.