Greece Greece vs Croatia Croatia development indicators, 2024

Indicator
Greece
Greece, Value
Croatia
Croatia, Value
Greece
Greece, Rank
Croatia
Croatia, Rank
Greece Greece as % of
Croatia Croatia
Current account balance (% of GDP) -6.38 -1.13 95 63 562 %
Exports of goods and services (% of GDP) 42 49.8 54 39 84.3 %
Foreign direct investment, net inflows (% of GDP) 2.51 5.04 47 21 49.8 %
GDP per capita (current US$) 24,752 23,931 49 50 103 %
GDP per capita, PPP (current international US$) 44,074 48,575 50 46 90.7 %
Imports of goods and services (% of GDP) 47.3 52.9 59 52 89.5 %
Inflation, consumer prices (annual %) 2.74 2.97 93 80 92.2 %
Net migration -122,772 -5,186 202 139 2,367 %
Population, total 10,388,805 3,866,300 93 129 269 %

Demography and Health

Greece's crude birth rate is 6.8 per 1,000 people, while Croatia's is slightly higher at 8.3, signifying a relatively higher growth potential in the Croatian population. In terms of death rate, Greece has a rate of 12.2 compared to Croatia's 13.3. This indicates a slightly better health outcome in Greece. The life expectancy at birth in Greece stands at 81.5 years, significantly above Croatia's 78.5 years, reflecting broader access to healthcare and better living standards. Greece also performs well with a lower under-5 mortality rate at 3.7, versus Croatia's 4.6. Both countries report a prevalence of undernourishment at 2.5%. Greece faces a net migration outflow of -122,772, while Croatia's migration is less severe at -5,186. Regarding mental health, Greece records a suicide mortality rate of 4.7 per 100,000 compared to Croatia's alarming rate of 15.7.

Economy

In terms of economic performance, Greece has a GDP per capita of $24,752, which is slightly higher than Croatia's $23,931. When adjusted for purchasing power parity (PPP), Greece's GDP per capita is $44,074, while Croatia's is more favorable at $48,575, suggesting a higher overall purchasing power in Croatia. The exports of goods and services as a percentage of GDP are higher in Croatia at 49.8% compared to Greece's 42%, indicating a more export-driven economy. However, Greece's total imports account for 47.3% of GDP, slightly lower than Croatia's 52.9%. Inflation rates also show Greece at 2.7% relative to Croatia's 3%, showcasing Greece's slightly more stable economic environment.

Trade and Investment

Foreign direct investment (FDI) inflows as a percentage of GDP are notably lower for Greece at 2.5% compared to Croatia's 5%, suggesting that Croatia is more attractive for foreign investors. The current account balance indicates Greece is struggling with a deficit of 6.4% of GDP, whereas Croatia's deficit is more manageable at 1.1%. On the technology and infrastructure side, logistics performance index highlights Greece's advantages with a higher score of 3.7, compared to Croatia's 3, suggesting better trade and transport-related infrastructure in Greece.

Governance and Institutions

In matters of governance, Croatia leads in several areas. Greece's control of corruption index stands at 0.1, with comparable figures in government effectiveness (0.1) and regulatory quality (0.6). Croatia, however, shows better governance performance with control of corruption at 0.2, government effectiveness at 0.7, and a similar regulatory quality of 0.6. These indicators suggest a more stable political environment in Croatia when compared to Greece. Greece faces considerable challenges related to political stability, scoring 0.2, indicating significant political risks, while Croatia stands better at 0.6. Furthermore, Greece has a higher unemployment rate at 11%, reflecting struggles in the labor market compared to Croatia's rate of 6.1%.

Infrastructure and Technology

In the realm of infrastructure, both countries are developing, yet Greece’s logistics performance index score of 3.7 suggests a superior performance in trade and transport-related infrastructure relative to Croatia's 3. This could potentially facilitate better economic activities in Greece. Additionally, both countries have similar internet usage rates, with Greece at 85% and Croatia at 83.2%, indicating a well-connected population in both nations.

Environment and Sustainability

When evaluating environmental sustainability, Greece consumes 21.5% of its total energy from renewable sources, which is a positive sign of its commitment to a green transition, though Croatia exceeds this at 34.1%. However, Greece experiences a significant disparity in water stress, withdrawing 20.7% of its available freshwater resources compared to Croatia's minimal 1.5% withdrawal, reflecting heightened concerns for Greece's environmental sustainability. In terms of greenhouse emissions, Greece emits 6.7 tons of CO2 per capita, slightly higher than Croatia's 6.5 tons, indicating comparable environmental footprints but with Greece in the lead for a slightly higher carbon output per citizen.