Greece Greece vs Hungary Hungary development indicators, 2024

Indicator
Greece
Greece, Value
Hungary
Hungary, Value
Greece
Greece, Rank
Hungary
Hungary, Rank
Greece Greece as % of
Hungary Hungary
Current account balance (% of GDP) -6.38 2.28 95 37
Exports of goods and services (% of GDP) 42 74.7 54 17 56.2 %
Foreign direct investment, net inflows (% of GDP) 2.51 -14.7 47 107
GDP per capita (current US$) 24,752 23,311 49 54 106 %
GDP per capita, PPP (current international US$) 44,074 47,636 50 47 92.5 %
Imports of goods and services (% of GDP) 47.3 69.1 59 23 68.5 %
Inflation, consumer prices (annual %) 2.74 3.7 93 58 74 %
Net migration -122,772 16,223 202 41
Population, total 10,388,805 9,562,314 93 96 109 %

Demography and Health

In 2023, Greece had a crude birth rate of 6.8 per 1,000 people compared to Hungary's 9.1, indicating a lower birth rate in Greece, and a rank of 77 versus Hungary's 38. Conversely, the death rate in Greece was 12.2 per 1,000 compared to Hungary's 13.4, ranking Greece 29th and Hungary 19th. Life expectancy at birth was higher in Greece at 81.5 years, outranking Hungary's 76.8 years. Greece also reported a lower under-5 mortality rate (3.7 per 1,000) than Hungary (3.8 per 1,000), reflecting better healthcare outcomes for children. However, Greece faced negative net migration of -122,772, while Hungary experienced a net gain of 16,223, which may impact demographic growth in Greece. The suicide mortality rate in Greece was notably lower at 4.7 per 100,000 population versus Hungary's significantly higher rate of 16.4.

Economy

In 2024, Greece's GDP per capita was recorded at $24,752, slightly higher than Hungary's $23,311, with Greece ranking 76th and Hungary 84th globally. However, when adjusted for purchasing power parity (PPP), Hungary outperformed Greece with a GDP per capita of $47,636 compared to Greece's $44,074. The inflation rate in Greece was lower at 2.7%, against Hungary's 3.7%. Greece's economy relied heavily on trade, with exports of goods and services constituting 42% of GDP, while Hungary's stood at a significantly higher 74.7%. On the other hand, Greece had a higher import dependency at 47.3%, compared to Hungary's 69.1%. The poverty headcount ratio in Greece was 18.8%, which is notably higher than Hungary's 12.1%, indicating a more significant proportion of the population living under national poverty lines.

Trade and Investment

Greece's foreign direct investment (FDI) inflows accounted for 2.5% of GDP in 2024, showing a positive investment climate. In contrast, Hungary reported negative FDI inflows at -14.7% of GDP, indicating potential concerns regarding investor confidence. The current account balance indicated deeper economic challenges for Greece, with a deficit of -6.4% of GDP, while Hungary reported a surplus of 2.3%. Moreover, Greece's logistics performance index rated at 3.7, suggesting comparatively better trade and transport-related infrastructure than Hungary's 3.1.

Governance and Institutions

In terms of governance, Greece and Hungary showed variations in effectiveness. Greece had a control of corruption rating of 0.1 and government effectiveness at 0.1, ranking 70th and 75th respectively. Hungary exhibited slightly better governance with a control of corruption rating of -0 and government effectiveness at 0.4, ranking 76th and 70th respectively. For the rule of law, Greece scored 0.2 and ranked 78th while Hungary scored 0.4 and ranked 65th, showing a stronger legal framework in Hungary. Political stability was another area where Hungary excelled, with a score of 0.7 and a rank of 31st compared to Greece's score of 0.2 and a rank of 79th.

Infrastructure and Technology

When it comes to infrastructure, Greece outperformed Hungary in terms of the quality of trade and transport-related infrastructure, evidenced by a logistics performance index of 3.7 versus Hungary’s 3.1. Additionally, Greece led in the number of physicians per 1,000 people at 6.4 compared to Hungary's 3.3, suggesting better healthcare accessibility. Greece also had a higher level of domestic general government health expenditure per capita than Hungary at $1,784 versus $2,103, enhancing the quality of public health services.

Environment and Sustainability

Greece demonstrated a stronger commitment to renewable energy with 21.5% of total final energy consumption sourced from renewables, comparing favorably to Hungary's 15.3%. Both countries reported similar prevalence rates of undernourishment at 2.5%, highlighting a stable food security situation. However, regarding environmental sustainability, Greece's water stress was considerably more severe, with freshwater withdrawal constituting 20.7% of available resources compared to Hungary's more manageable 8.1%. In terms of greenhouse gas emissions, Greece emitted 6.7 tons per capita against Hungary's 6.4 tons, indicating a slightly higher carbon footprint per capita in Greece.