Greece vs Slovakia development indicators, 2024

Demography and Health

Greece has a population of approximately 10.4 million people, while Slovakia's population stands at about 5.4 million. In terms of vital statistics, Greece has a crude birth rate of 6.8 births per 1,000 people, lower than Slovakia's 9. The crude death rate in Greece is higher at 12.2 per 1,000, compared to Slovakia's 10, reflecting potential demographic challenges. Regarding health outcomes, Greece boasts a life expectancy of 81.5 years, which is higher than Slovakia's 78 years. The under-5 mortality rate is also better in Greece at 3.7 per 1,000 live births versus Slovakia's 6.1. However, the prevalence of undernourishment is lower in Greece at 2.5%, compared to Slovakia's 3.6%. The suicide mortality rate is notably lower in Greece (4.7 per 100,000) compared to Slovakia (9.9). Greece's healthcare expenditure is 8.5% of GDP, which is higher than Slovakia's 7.7%, but in terms of health expenditure per capita, Greece spends $1,784 compared to Slovakia's $2,531.

Economy

Greece's GDP per capita is $24,752, which is somewhat lower than Slovakia's $26,148. However, when adjusted for purchasing power parity (PPP), Greece's GDP per capita rises to $44,074, still below Slovakia's $47,181. In terms of economic indicators, Greece has an exports-to-GDP ratio of 42%, which is significantly lower than Slovakia’s 85.2%, indicating a more dependency on domestic consumption. Conversely, Greece has high imports of 47.3% of GDP as opposed to Slovakia's 82%. The inflation rate for Greece is 2.7% while Slovakia's is slightly higher at 2.8%, both reflecting relatively stable economic conditions. Furthermore, Greece faces a current account balance of -6.4%, whereas Slovakia's is -2.7%, indicating better economic stability in Slovakia. The poverty headcount ratio in Greece is higher at 18.8%, contrasting with Slovakia's 13.7%, pointing towards greater economic inequality in Greece.

Trade and Investment

In terms of foreign direct investment (FDI), both countries have net inflows at 2.5% of GDP. However, Greece's exports indicate a more significant economic challenge compared to Slovakia's robust export economy. The logistics performance index rates Greece higher at 3.7 compared to Slovakia's 3.3, suggesting that Greece may have better infrastructure support for trade. This is further supported by a higher patent application count of 394 in Greece compared to Slovakia's 146, reflecting a stronger innovation capacity in Greece.

Governance and Institutions

The governance landscape reveals some concerns in Greece, with its control of corruption rated at 0.1, compared to Slovakia's 0.3. Similarly, government effectiveness is rated at 0.1 in Greece, while Slovakia has a rating of 0.2. Political stability is another challenge for Greece with a score of 0.2 compared to Slovakia’s 0.6. Regulatory quality and rule of law are also lower in Greece, at 0.6 and 0.2 respectively, compared to Slovakia's consistent 0.6 for both. The unemployment rate is higher in Greece at 11%, while Slovakia benefits from a lower rate of 5.8%, revealing a more favorable job market in Slovakia.

Infrastructure and Technology

When evaluating infrastructure, Greece shows strength in logistics performance (3.7) compared to Slovakia (3.3), which indicates better transportation and trade infrastructure. In terms of research and development expenditure as a percentage of GDP, Greece allocates 1.5%, outperforming Slovakia's 1%. This suggests that Greece prioritizes innovation, although the absolute impact may depend upon the overall budget and commitment to R&D initiatives. However, both countries exhibit low levels of patent applications compared to their populations, which may point to under-utilization of their research capabilities.

Environment and Sustainability

In the realm of environmental sustainability, Greece consumes 21.5% of its total final energy consumption from renewable sources, ranking it higher than Slovakia, which stands at 17.9%. Furthermore, Greece has a much lower level of water stress, having only 20.7% freshwater withdrawal from available resources, compared to Slovakia at 2.4%. However, total greenhouse gas emissions are higher in Greece at 6.7 tons CO2 per capita than Slovakia’s 8.3 tons, which could reflect differing industrial practices and energy consumption patterns. Both countries have a significant opportunity to enhance their sustainability initiatives and address larger environmental impacts with better governance and policies.