Finland vs Portugal development indicators, 2024

Indicator	Finland, Value	Portugal, Value	Finland, Rank	Portugal, Rank	Finland as % of Portugal
Current account balance (% of GDP)	0.31	2.17	50	40	14.3 %
Exports of goods and services (% of GDP)	41.6	46.5	59	44	89.4 %
Foreign direct investment, net inflows (% of GDP)	0.661	4.27	81	23	15.5 %
GDP per capita (current US$)	53,189	28,844	21	45	184 %
GDP per capita, PPP (current international US$)	64,091	50,617	27	41	127 %
Imports of goods and services (% of GDP)	40.9	44.7	70	61	91.6 %
Inflation, consumer prices (annual %)	1.57	2.42	125	99	64.8 %
Net migration	26,894	20,648	32	37	130 %
Population, total	5,637,214	10,701,636	116	89	52.7 %

Demography and Health

Finland and Portugal have notable differences in demographic aspects. Finland's crude birth rate is slightly lower at 7.8 per 1,000 people compared to Portugal's 8.1. However, both countries exhibit similar death rates, with Finland at 11 per 1,000 and Portugal at 11.2. Finland achieves a higher life expectancy at 81.7 years, while Portugal slightly surpasses with 82.3 years. The under-5 mortality rate indicates Finland's healthcare efficacy at 2.3 per 1,000 live births versus Portugal's 3.2. With a net migration of 26,894 individuals, Finland positions itself as an attractive destination, outpacing Portugal's 20,648 migrants. In terms of health expenditure, Finland invests significantly more with $4,943 per capita compared to Portugal's $2,921. Interestingly, despite Finland’s generally higher healthcare metrics, it has a higher suicide mortality rate at 14.6 per 100,000 population compared to Portugal's 11.5.

Economy

The economic landscape of Finland and Portugal reveals contrasts in both performance and metrics. Finland's GDP per capita stands robust at $53,189, notably higher than Portugal's $28,844. When adjusted for purchasing power parity, Finland also leads with $64,091 compared to Portugal's $50,617. Finland exhibits a more controlled inflation rate of 1.6% relative to Portugal's 2.4%, indicating stronger price stability. However, Portugal enjoys a higher foreign direct investment inflow rate at 4.3% of GDP versus Finland's 0.7%, reflecting stronger investor confidence in Portugal’s market. Finland's exports of goods and services represent 41.6% of GDP compared to Portugal's 46.5%, while imports stand at 40.9% for Finland versus 44.7% for Portugal, demonstrating Portugal's greater integration in international trade.

Trade and Investment

In terms of trade and investment, both Finland and Portugal exhibit significant activity but with varying strengths. High-technology exports give Finland an edge with $5.3 billion compared to Portugal's $4.2 billion. This suggests that Finland is more competitive in advanced sectors. On investment fronts, while Finland's domestic general government health expenditure per capita is higher, Portugal’s net inflows of foreign direct investment substantially outperform Finland’s, indicating a more attractive environment for foreign investors. Portugal ranks 80th for exports of goods and services as a percentage of GDP while Finland ranks slightly lower at 90th, underscoring Portugal's stronger export orientation.

Governance and Institutions

Governance structures in Finland and Portugal reflect a significant divergence in institutional quality. Finland ranks exceptionally in control of corruption at 2.2, significantly higher than Portugal's 0.7. The effectiveness of government in Finland is also higher at 1.7, illustrating more efficient public administration compared to Portugal's 1. Similarly, Finland’s regulatory quality score of 1.8 positions it favorably against Portugal’s 0.8. In terms of legal systems, Finland's rule of law stands strong at 2 compared to Portugal’s 1.1. Both countries enjoy relative political stability, each scoring 0.7 in the political stability index, highlighting their resilience despite potential challenges. With these indicators, Finland's governance framework is notably more robust than that of Portugal.

Infrastructure and Technology

Finland's infrastructure and technology metrics reflect high standards compared to Portugal. The logistics performance index for Finland is at 4.2, indicating superior quality in trade and transport-related infrastructure compared to Portugal's 3.6. This points towards a more efficient system in facilitating economic activities within Finland. Additionally, the proportion of individuals using the Internet is considerably high in Finland at 93.5%, showcasing greater digital penetration compared to Portugal’s 85.8%. Finland's investment in research and development, at 3% of GDP, further underscores its commitment to innovation, whereas Portugal invests only 1.7%. These elements suggest that Finland's emphasis on infrastructure and technology significantly bolsters its economic potential.

Environment and Sustainability

Environmental performance illustrates a mixed picture between Finland and Portugal. Finland demonstrates a high level of renewable energy consumption at 50.2%, significantly exceeding Portugal’s 32.3%, reflecting a strong commitment to sustainable energy practices. In terms of greenhouse gas emissions, Finland's per capita emissions at 7.8 t CO2e fall significantly below that of Portugal's 5 t CO2e, suggesting that Portugal may need to consider more aggressive strategies for reducing emissions. Water stress levels reveal Finland’s efficiency, with only 7.1% of available freshwater resources withdrawn compared to Portugal’s 12.3%. Overall, Finland appears to lead in renewable energy adoption while both countries are addressing different aspects of environmental sustainability through their policies and practices.