Hungary Hungary vs Slovenia Slovenia development indicators, 2024

Indicator
Hungary
Hungary, Value
Slovenia
Slovenia, Value
Hungary
Hungary, Rank
Slovenia
Slovenia, Rank
Hungary Hungary as % of
Slovenia Slovenia
Current account balance (% of GDP) 2.28 4.46 37 25 51.1 %
Exports of goods and services (% of GDP) 74.7 81.5 17 12 91.6 %
Foreign direct investment, net inflows (% of GDP) -14.7 2.69 107 44
GDP per capita (current US$) 23,311 34,089 54 36 68.4 %
GDP per capita, PPP (current international US$) 47,636 56,531 47 34 84.3 %
Imports of goods and services (% of GDP) 69.1 74.9 23 16 92.2 %
Inflation, consumer prices (annual %) 3.7 1.97 58 115 188 %
Net migration 16,223 3,319 41 60 489 %
Population, total 9,562,314 2,126,324 96 148 450 %

Demography and Health

In terms of demographic indicators, Hungary has a higher crude birth rate of 9.1 compared to Slovenia's 8, indicating a slightly higher population growth potential. However, Hungary's crude death rate is significantly higher at 13.4 compared to Slovenia's 10.2, reflecting potential health challenges. Life expectancy at birth is also lower in Hungary at 76.8 years, while Slovenia records a healthier life expectancy of 82 years, ranking higher globally. The under-5 mortality rate suggests better child healthcare in Slovenia (2.2) versus Hungary (3.8). Notably, both nations have an identical prevalence of undernourishment at 2.5%. Despite this, Slovenia shows a commitment to healthier life outcomes, bolstered by a higher current health expenditure as a percentage of GDP (9.4% vs 6.4%).

Economy

When evaluating economic performance, Slovenia shows a stronger GDP per capita at $34,089 versus Hungary's $23,311, highlighting a more prosperous economic outlook. Additionally, in purchasing power parity terms, Slovenia again surpasses Hungary, pegged at $56,531 compared to $47,636. While Hungary's inflation rate of 3.7% is relatively higher than Slovenia's 2%, both countries share similar export figures as a percentage of GDP, but Slovenia stands out with a higher percentage (81.5% vs 74.7%). The foreign direct investment (FDI) context is alarming for Hungary, which has a negative FDI net inflow of -14.7%, indicating capital outflow, while Slovenia's +2.7% reflects healthy economic acceptance of foreign investment.

Trade and Investment

In terms of trade, both Hungary and Slovenia have substantial exports relative to their GDP, although Slovenia performs slightly better with 81.5% in exports compared to Hungary's 74.7%. This suggests Slovenia is potentially more integrated into the global market. Additionally, Slovenia's higher import figures as a percentage of GDP (74.9%) compared to Hungary's 69.1% indicate a robust trade environment with significant cross-border economic activities. The logistics performance index also favors Slovenia, which has a score of 3.6 against Hungary's 3.1, indicating higher efficiency in trade and transport-related infrastructure.

Governance and Institutions

In governance metrics, Slovenia outperforms Hungary across several indicators. Slovenia ranks higher in terms of control of corruption with a score of 0.8, contrasting with Hungary’s -0. As for government effectiveness and the rule of law, Slovenia again shows stronger performance, with scores of 1 and 1, respectively, compared to Hungary's lower scores (0.4). Political stability is marginally better in Slovenia (0.8) than Hungary (0.7). These governance indicators point to better institutional quality in Slovenia, likely correlating with its economic performance and citizens’ satisfaction.

Infrastructure and Technology

Infrastructure quality also reflects positively on Slovenia, with its logistics performance index at 3.6, compared to Hungary's 3.1. This index highlights the relative efficiency and reliability of logistics and transport, which are crucial for trade and economic activity. In terms of research and development, Slovenia also allocates a higher percentage of GDP (2.1%) towards R&D compared to Hungary's 1.4%, facilitating innovation and technological advancement. The patent applications per resident demonstrate Hungary's stronger innovation activity with 433 applications compared to Slovenia's 222.

Environment and Sustainability

When considering environmental sustainability, Slovenia leads with a greater share of renewable energy consumption, which stands at 23.4% compared to Hungary's 15.3%. Additionally, Slovenia's lower level of water stress (6.3% of available freshwater resources) compared to Hungary's 8.1% highlights an advantageous position in water resource management. While Slovenia's total greenhouse gas emissions per capita are higher (7.5 t CO2e/capita) than Hungary's (6.4 t CO2e/capita), both nations face challenges in reducing their environmental impact. Nevertheless, Slovenia's policies focus more on sustainable energy and resource management, indicating a proactive approach towards environmental issues.