Finland Finland vs Slovenia Slovenia development indicators, 2024

Indicator
Finland
Finland, Value
Slovenia
Slovenia, Value
Finland
Finland, Rank
Slovenia
Slovenia, Rank
Finland Finland as % of
Slovenia Slovenia
Current account balance (% of GDP) 0.31 4.46 50 25 6.96 %
Exports of goods and services (% of GDP) 41.6 81.5 59 12 51 %
Foreign direct investment, net inflows (% of GDP) 0.661 2.69 81 44 24.5 %
GDP per capita (current US$) 53,189 34,089 21 36 156 %
GDP per capita, PPP (current international US$) 64,091 56,531 27 34 113 %
Imports of goods and services (% of GDP) 40.9 74.9 70 16 54.6 %
Inflation, consumer prices (annual %) 1.57 1.97 125 115 79.7 %
Net migration 26,894 3,319 32 60 810 %
Population, total 5,637,214 2,126,324 116 148 265 %

Demography and Health

Finland and Slovenia exhibit contrasting demographic characteristics. Finland's crude birth rate stands at 7.8 per 1,000 people, marginally lower than Slovenia's 8 per 1,000. However, Finland's crude death rate is higher at 11 compared to Slovenia's 10.2, indicating potential demographic challenges such as an aging population. In terms of health, life expectancy in Finland is slightly lower at 81.7 years, while Slovenia boasts a life expectancy of 82 years. The prevalence of undernourishment is similar in both countries, with rates at 2.5%. Finland's under-5 mortality rate is slightly higher at 2.3 per 1,000 live births, indicating potential differences in child healthcare. Important to note, however, is Finland’s lower suicide mortality rate at 14.6 per 100,000 population compared to Slovenia at 18.8, suggesting a better mental health environment in Finland.

Economy

The economic landscapes of Finland and Slovenia differ significantly, as evidenced by their GDP per capita figures. Finland’s GDP per capita is reported at $53,189, which substantially outperforms Slovenia's $34,089. In terms of GDP per capita adjusted for purchasing power parity (PPP), Finland also leads with $64,091 compared to Slovenia's $56,531. Additionally, Finland has a robust export sector, contributing 41.6% of GDP, while Slovenia's exports account for a striking 81.5% of its GDP, suggesting a smaller but more export-driven economy. Inflation rates show Finland benefiting from lower consumer prices with an annual inflation rate of 1.6% as compared to Slovenia’s 2%. Lastly, Slovenia has a notably higher unemployment rate of 3.7%, compared to Finland’s 7.2%, indicating different economic stability levels and labor market conditions.

Trade and Investment

Trade dynamics between Finland and Slovenia reveal contrasting profiles. Finland's high-technology exports amount to $5.3 billion, while Slovenia’s are around $4.2 billion, reflecting a marginal advantage for Finland. Imports as a percentage of GDP show that Finland (40.9%) has a more balanced trade position than Slovenia (74.9%), suggesting that Slovenia is heavily reliant on trade. Foreign direct investment (FDI) levels indicate that Slovenia has a more favorable FDI inflow at 2.7% of GDP, while Finland shows considerably lower inflows at 0.7%. This could suggest that Slovenia is currently a more attractive destination for foreign investors relative to Finland, despite Finland’s economic stability.

Governance and Institutions

In terms of governance, Finland ranks favorably, with strong indicators in control of corruption (2.2) and rule of law (2), compared to Slovenia's scores of 0.8 and 1, respectively. Finland exhibits effective government with a score of 1.7, while Slovenia’s effectiveness is lower at 1.0. Finland also enjoys a higher political stability score of 0.7, suggesting a more stable governmental structure. Additionally, Finland’s regulatory quality ranks significantly higher at 1.8 compared to Slovenia's 0.7, indicating a better regulatory environment that supports business and investment activities. This overall governance efficiency could lead to a more conducive climate for economic activities in Finland.

Infrastructure and Technology

Infrastructure and technology are vital aspects of both economies. Finland scores impressively in logistics performance, with a quality infrastructure rating of 4.2, indicating a well-developed logistics framework. Slovenia, on the other hand, scores 3.6, reflecting room for improvement. Moreover, Finland leads in the percentage of individuals using the internet (93.5%) compared to Slovenia (90.4%), highlighting Finland's advancements in digital connectivity and technology accessibility. Additionally, Finland also performs stronger in research and development expenditure at 3% of GDP versus Slovenia's 2.1%, underscoring Finland's emphasis on innovation and technological development.

Environment and Sustainability

Environmental sustainability is a key focus area for both countries. Finland stands out with 50.2% of its total energy consumption coming from renewable sources, showcasing a significant commitment to sustainable energy practices. In contrast, Slovenia lags behind with only 23.4%. Both countries display comparable levels of water stress, with Finland at 7.1% and Slovenia at 6.3% of available freshwater resources. In terms of greenhouse gas emissions, Finland produces 7.8 tons of CO2 equivalent per capita, slightly higher than Slovenia's 7.5 tons, indicating similar levels of environmental impact. Overall, Finland appears to have a more proactive approach to renewable energy and sustainability compared to Slovenia.