Greece Greece vs Lithuania Lithuania development indicators, 2024

Indicator
Greece
Greece, Value
Lithuania
Lithuania, Value
Greece
Greece, Rank
Lithuania
Lithuania, Rank
Greece Greece as % of
Lithuania Lithuania
Current account balance (% of GDP) -6.38 2.48 95 35
Exports of goods and services (% of GDP) 42 74.1 54 19 56.6 %
Foreign direct investment, net inflows (% of GDP) 2.51 4.24 47 24 59.2 %
GDP per capita (current US$) 24,752 29,386 49 44 84.2 %
GDP per capita, PPP (current international US$) 44,074 54,414 50 37 81 %
Imports of goods and services (% of GDP) 47.3 68.9 59 24 68.7 %
Inflation, consumer prices (annual %) 2.74 0.716 93 145 383 %
Net migration -122,772 2,617 202 61
Population, total 10,388,805 2,888,055 93 138 360 %

Demography and Health

Greece and Lithuania have slightly different demographic landscapes. Greece has a crude birth rate of 6.8 per 1,000 people compared to Lithuania's 7.2, ranking them 77th and 74th respectively. The crude death rate in Greece is 12.2, while Lithuania's is slightly higher at 12.9, ranking 29th and 23rd respectively. In terms of life expectancy, Greece performs better with 81.5 years compared to Lithuania's 77 years. The under-five mortality rate is also lower in Greece, with 3.7 per 1,000 live births compared to 3.4 in Lithuania. However, Lithuania has a higher suicide mortality rate at 22.1 per 100,000 population, significantly affecting its health perception. Both countries have the same prevalence of undernourishment at 2.5% of the population.

Economy

In terms of economic performance, Lithuania surpasses Greece in several indicators. Lithuania's GDP per capita stands at $29,386, while Greece lags at $24,752, ranking 63rd and 76th respectively. When adjusted for purchasing power parity (PPP), Lithuania's GDP per capita is $54,414 against Greece's $44,074. Regarding inflation, Greece faces a consumer price inflation rate of 2.7% compared to Lithuania's much lower 0.7%. On the employment front, Greece has an unemployment rate of 11%, whereas Lithuania's is lower at 6.8%. The poverty headcount ratio at national poverty lines shows Greece at 18.8% and Lithuania at 20.9%, indicating a significant concern for both economies.

Trade and Investment

Trade dynamics reveal stark contrasts between Greece and Lithuania. Exports of goods and services as a percentage of GDP are notably higher in Lithuania (74.1%) than in Greece (42%). Similarly, imports also follow the same trend, with Lithuania at 68.9% and Greece at 47.3%. Foreign direct investment (FDI) net inflows as a percentage of GDP show that Lithuania attracts more investment at 4.2%, compared to Greece's 2.5%. Additionally, Lithuania has a trade performance ranking of 45, while Greece ranks 89, indicating superior trade competitiveness for Lithuania.

Governance and Institutions

Governance measures highlight some significant differences between the two countries. Lithuania performs better in governance quality indicators, such as control of corruption and government effectiveness, where it scores 0.8 and 1.1, respectively, compared to Greece’s 0.1 in both categories. Lithuania also exhibits better political stability and regulatory quality. Greece, ranking lower in these metrics, faces considerable challenges in governance, which could hinder economic growth and societal well-being. The rule of law in Lithuania is stronger, scoring 1.3 compared to Greece’s 0.2.

Infrastructure and Technology

When examining infrastructure and technology, Greece scores slightly better in the logistics performance index, with a score of 3.7 against Lithuania's 3.5. However, Lithuania has a higher percentage of individuals using the Internet, with 88.5% of its population online compared to Greece’s 85%. This suggests that while Greece may have better transport and trade-related infrastructure, Lithuania has made more progress in technology penetration among its population, which is critical for modern economic activities.

Environment and Sustainability

In terms of environmental sustainability, Lithuania demonstrates stronger performance in renewable energy consumption, reaching 33.2% compared to Greece's 21.5%. However, Greece has a slightly lower total greenhouse gas emissions per capita at 6.7 tons CO2e compared to Lithuania’s 7.2 tons CO2e. Additionally, Greece faces considerably higher water stress, withdrawing 20.7% of its available freshwater resources compared to just 1.8% in Lithuania. Both countries should continue focusing on sustainable practices, but Lithuania has demonstrated a more proactive approach in renewable energy adoption.