Greece Greece vs Romania Romania development indicators, 2024

Indicator
Greece
Greece, Value
Romania
Romania, Value
Greece
Greece, Rank
Romania
Romania, Rank
Greece Greece as % of
Romania Romania
Current account balance (% of GDP) -6.38 -8.36 95 99 76.3 %
Exports of goods and services (% of GDP) 42 35.6 54 70 118 %
Foreign direct investment, net inflows (% of GDP) 2.51 1.92 47 57 131 %
GDP per capita (current US$) 24,752 20,072 49 57 123 %
GDP per capita, PPP (current international US$) 44,074 48,712 50 45 90.5 %
Imports of goods and services (% of GDP) 47.3 41.7 59 67 114 %
Inflation, consumer prices (annual %) 2.74 5.72 93 35 47.9 %
Net migration -122,772 -28,466 202 182 431 %
Population, total 10,388,805 19,069,340 93 66 54.5 %

Demography and Health

In terms of demographic indicators, Greece exhibits a birth rate of 6.8 per 1,000 people, which is slightly lower than Romania's 8 per 1,000 people. The death rate in Greece is 12.2 per 1,000, while Romania has a marginally higher rate of 12.7 per 1,000. This puts Greece at rank 29 and Romania at 25, indicating relatively higher mortality in both countries but a slightly worse performance in Romania.

Life expectancy is significantly more favorable in Greece at 81.5 years compared to Romania’s 76.6 years, ranking them 35th and 66th, respectively. Greece also has a much lower under-five mortality rate at 3.7 per 1,000 live births, while Romania's is higher at 6.6, positioning Greece at 32nd and Romania at 1st in this category. These health indicators suggest a stronger healthcare system in Greece, evident in the higher number of physicians per 1,000 people (6.4 in Greece vs. 3.5 in Romania), as well as higher health expenditure (8.5% of GDP in Greece versus 5.7% in Romania).

Economy

Regarding economic performance, Greece has a GDP per capita of $24,752 compared to Romania’s $20,072, with Greece ranking 76th globally and Romania 95th. On a purchasing power parity basis, however, Romania surpasses Greece with $48,712 versus Greece’s $44,074, placing them at ranks 68 and 86, respectively. Exports as a percentage of GDP are higher in Greece at 42% compared to 35.6% in Romania, indicating greater global market integration and trade activity for Greece. Conversely, Greece has higher imports at 47.3% versus Romania's 41.7%, illustrating a larger reliance on foreign goods.

Inflation also poses a challenge for Romania, with a rate of 5.7% compared to Greece’s lower inflation rate of 2.7%. Unemployment rates further reveal economic disparities: Greece faces higher unemployment at 11% compared to Romania's 5.6%, suggesting a tighter labor market in Romania.

Trade and Investment

Foreign direct investment (FDI) inflows are slightly more favorable for Greece at 2.5% of GDP compared to Romania's 1.9%. Greece stands at rank 68 while Romania is at rank 76, indicating a more attractive investment environment in Greece. However, both countries face current account deficits, with Greece at -6.4% and Romania at -8.4%, reflecting larger economic vulnerabilities. The logistics performance index also favors Greece with a score of 3.7, indicating better trade and transport-related infrastructure compared to Romania’s score of 2.9, which impacts trade efficiency.

Governance and Institutions

Both Greece and Romania grapple with issues of governance, reflected in their control of corruption and government effectiveness ratings. Greece scores slightly better in control of corruption at 0.1 versus Romania's 0, with ranks showing Greece at 70th and Romania at 71st. Government effectiveness is also higher in Greece (0.1) compared to Romania (-0.1), placing them at ranks 75 and 78, respectively. However, challenges remain in political stability and rule of law, where both countries receive low scores, indicative of ongoing governmental issues. Greece has a political stability score of 0.2 while Romania's is at 0.4, which suggests Romania may experience slightly less political turbulence.

Infrastructure and Technology

Investment in research and development is markedly stronger in Greece at 1.5% of GDP compared to just 0.5% in Romania, indicating a greater emphasis on innovation and technology. The level of internet usage in the population is substantial in Romania at 89.2% versus Greece's 85%, showing Romania's slightly better performance in technological penetration. Nonetheless, the quality of infrastructure still favors Greece as seen in the logistics performance index.

Environment and Sustainability

When it comes to environmental sustainability, Greece has a total greenhouse gas emission rate of 6.7 tonnes per capita, while Romania's is slightly lower at 5.6 tonnes. However, Romania performs better in renewable energy consumption, with 23.6% of total final energy consumption coming from renewables as compared to Greece’s 21.5%. Their levels of water stress differ substantially, with Greece at 20.7% of freshwater withdrawal proportionate to available resources, juxtaposed against Romania’s 7.4%, a factor that suggests Greece may face more significant water management challenges.