Hungary vs Slovakia development indicators, 2024

Demography and Health

In terms of demography, Hungary has a total population of approximately 9.6 million, significantly larger than Slovakia's 5.4 million. The crude birth rate is slightly higher in Hungary at 9.1 per 1,000 people, compared to Slovakia's 9.0, with both countries showing similar birth rates overall. However, Hungary faces a higher crude death rate of 13.4 per 1,000 people against Slovakia's 10. This suggests a potentially aging population or health-related issues impacting mortality. Life expectancy at birth is also lower in Hungary at 76.8 years, compared to Slovakia's 78 years. In terms of childhood health, the mortality rate for under-5s is 3.8 per 1,000 live births in Hungary and is notably higher in Slovakia at 6.1. Furthermore, the prevalence of undernourishment is relatively low in Hungary at 2.5%, which is better than Slovakia's 3.6%. Despite these factors, Hungary's suicide mortality rate is concerningly high at 16.4 per 100,000 population, compared to Slovakia's 9.9.

Economy

Economically, Slovakia outperforms Hungary in GDP per capita, with $26,148 compared to Hungary's $23,311, indicating a healthier economy and potentially better living standards. However, Hungary has higher high-technology exports valued at $24.4 billion versus Slovakia's $10.1 billion, reflecting a stronger position in technology-driven sectors. Inflation rates are lower in Slovakia at 2.8% compared to Hungary's 3.7%, which can indicate better economic stability and purchasing power in Slovakia. With foreign direct investment being negative in Hungary at -14.7%, it highlights a potential issue in attracting investments, whereas Slovakia thrives with positive net inflows at 2.5%.

Trade and Investment

When looking at trade, both countries exhibit a high dependence on exports. Hungary's exports of goods and services account for 74.7% of GDP, while Slovakia's is higher at 85.2%, ranking Slovakia 29th compared to Hungary's 44th. Conversely, both nations show a high rate of imports relative to their GDP, with Slovakia also leading at 85% versus Hungary's 69.1%. The current account balance indicates that Hungary is in a surplus at 2.3%, while Slovakia faces a deficit at -2.7%. This positions Hungary as a relatively stable economy amidst its trade dynamics.

Governance and Institutions

In governance, Hungary and Slovakia both grapple with issues related to control of corruption and government effectiveness. Hungary's control of corruption index is at -0, compared to Slovakia's 0.3, suggesting Slovakia has better oversight and lower corruption levels. However, Hungary ranks higher in government effectiveness with a score of 0.4 against Slovakia's 0.2. In terms of political stability, Hungary has a slight edge at 0.7 compared to Slovakia's 0.6, indicating a relatively more stable political environment. However, issues in regulatory quality arise, with Hungary scoring lower at 0.3 against Slovakia's 0.6, hinting at potential legal and bureaucratic challenges in Hungary.

Infrastructure and Technology

Infrastructure appears robust in both countries, with Slovakia slightly ahead in logistics performance index quality at 3.3 compared to Hungary's 3.1. Additionally, Hungary leads in individuals using the internet, with 91.5% of the population connected versus 89.8% in Slovakia, suggesting a more digitally engaged population in Hungary.

Environment and Sustainability

In environmental terms, Hungary shows a better renewable energy consumption rate at 15.3% against Slovakia's 17.9%, although Slovakia performs better in managing its water resources with a lower water stress index. Total greenhouse gas emissions per capita are also concerning, where Hungary emits 6.4 t CO2e per capita compared to 8.3 t CO2e in Slovakia, indicating potential improvements needed in both countries for sustainability practices. Overall, both countries need to bolster their environmental policies to enhance sustainability and mitigate climate issues.