Greece Greece vs Portugal Portugal development indicators, 2024

Indicator
Greece
Greece, Value
Portugal
Portugal, Value
Greece
Greece, Rank
Portugal
Portugal, Rank
Greece Greece as % of
Portugal Portugal
Current account balance (% of GDP) -6.38 2.17 95 40
Exports of goods and services (% of GDP) 42 46.5 54 44 90.3 %
Foreign direct investment, net inflows (% of GDP) 2.51 4.27 47 23 58.8 %
GDP per capita (current US$) 24,752 28,844 49 45 85.8 %
GDP per capita, PPP (current international US$) 44,074 50,617 50 41 87.1 %
Imports of goods and services (% of GDP) 47.3 44.7 59 61 106 %
Inflation, consumer prices (annual %) 2.74 2.42 93 99 113 %
Net migration -122,772 20,648 202 37
Population, total 10,388,805 10,701,636 93 89 97.1 %

Demography and Health

Greece and Portugal exhibit notable differences in their demographic and health indicators. Greece has a crude birth rate of 6.8 per 1,000 people, slightly lower than Portugal's rate of 8.1, positioning Greece 77th and Portugal 59th in global rankings. When considering death rates, Greece's rate of 12.2 outpaces Portugal's 11.2, ranking Greece at 29th and Portugal at 38th. Life expectancy at birth is also slightly lower in Greece (81.5 years) compared to Portugal (82.3 years), with Greece ranking 35th and Portugal standing at 20th. The under-5 mortality rate is marginally higher in Greece (3.7 per 1,000 live births) than in Portugal (3.2), with Greece ranked 32nd and Portugal 52nd. Additionally, Greece faces net migration challenges, losing a significant number of residents (-122,772) while Portugal gains (20,648). In terms of healthcare resources, Greece surpasses Portugal with 6.4 physicians per 1,000 people compared to Portugal's 5.8. However, Greece's health expenditure per capita at $1,784 (PPP) is significantly lower than Portugal's at $2,921, indicating potential disparities in healthcare quality and access.

Economy

Economically, Greece lags behind Portugal in several key indicators. Greece's GDP per capita is $24,752, compared to Portugal's $28,844, placing Greece 76th and Portugal 65th globally. In terms of purchasing power parity (PPP), Greece also shows lower figures with $44,074 versus Portugal's $50,617, leading to rankings of 86th for Greece and 61st for Portugal. Furthermore, Greece has higher inflation rates at 2.7% compared to Portugal's 2.4%. In trade, while both countries have significant exports, Greece exports 42% of its GDP against Portugal's 46.5%. Regarding imports, Greece's imports account for 47.3% of its GDP, compared to Portugal's 44.7%. Greece's net foreign direct investment inflow percentage stands at 2.5%, notably lower than Portugal's 4.3%, indicating a more attractive investment climate in Portugal.

Trade and Investment

Both Greece and Portugal are active players in international trade, though Greece's position appears less favorable. Greece's exports of goods and services are 42% of GDP, positioning it at 89th globally, while Portugal achieves a higher export ratio at 46.5% of GDP, placing it at 80th. Import dependencies are also slightly different, with Greece at 47.3% and Portugal at a marginally lower 44.7%. Additionally, Greece's ability to attract foreign direct investments (FDI) is weaker, recording 2.5% of GDP against Portugal's 4.3%, reflecting Portugal's more favorable business environment and investment opportunities. In current account balance, Greece suffers from a significant deficit of -6.4% of GDP, while Portugal enjoys a positive balance of 2.2%, potentially indicating better economic management and trade efficiencies in Portugal.

Governance and Institutions

Governance differs significantly between the two nations, with Portugal generally demonstrating stronger institutional frameworks. Greece has lower scores on multiple governance indicators, including Control of Corruption (0.1 for Greece vs 0.7 for Portugal), Government Effectiveness (0.1 vs 1), and Rule of Law (0.2 vs 1.1). Political stability in Greece is also in a less favorable position with a score of 0.2 compared to Portugal’s 0.7, indicating a more mature political environment in Portugal. Furthermore, Greece has a higher unemployment rate of 11%, while Portugal benefits from 6.5%, which suggests a more resilient labor market in Portugal. The regulatory environment also shows disparities with Greece ranking lower (0.6) compared to Portugal (0.8).

Infrastructure and Technology

In terms of infrastructure and technology, Greece demonstrates slightly better performance in logistics and patent applications. The Logistics Performance Index for Greece is 3.7, ranking it 11th globally, while Portugal has a score of 3.6, ranking 13th. Greece also leads in patent applications with 394 compared to Portugal's 711, reflecting a slightly more vibrant culture of innovation. However, despite these strengths, the technical and technological growth would benefit from enhanced investment and strategic governance.

Environment and Sustainability

Environmentally, Portugal shows a stronger commitment to sustainability, with renewable energy consumption making up 32.3% of total energy consumption, compared to Greece's 21.5%. Portugal's greener initiatives contribute to lower total greenhouse gas emissions per capita at 5 tCO2e as opposed to Greece's 6.7 tCO2e. Notably, Greece experiences higher levels of water stress, with a freshwater withdrawal to resource ratio of 20.7%, which is concerning compared to Portugal's 12.3%. These figures illustrate the need for Greece to prioritize ecological preservation and sustainable resource management to align with global trends towards environmental responsibility.