Hungary Hungary vs Sweden Sweden development indicators, 2024

Indicator
Hungary
Hungary, Value
Sweden
Sweden, Value
Hungary
Hungary, Rank
Sweden
Sweden, Rank
Hungary Hungary as % of
Sweden Sweden
Current account balance (% of GDP) 2.28 7.42 37 13 30.7 %
Exports of goods and services (% of GDP) 74.7 54.6 17 34 137 %
Foreign direct investment, net inflows (% of GDP) -14.7 4.37 107 22
GDP per capita (current US$) 23,311 57,723 54 14 40.4 %
GDP per capita, PPP (current international US$) 47,636 71,030 47 23 67.1 %
Imports of goods and services (% of GDP) 69.1 50.2 23 56 138 %
Inflation, consumer prices (annual %) 3.7 2.84 58 88 131 %
Net migration 16,223 50,115 41 24 32.4 %
Population, total 9,562,314 10,569,709 96 92 90.5 %

Demography and Health

Hungary and Sweden exhibit notable differences in demographic and health indicators. The crude birth rate in Hungary is 9.1 per 1,000 people, slightly lower than Sweden's 9.5, placing Hungary at rank 38 and Sweden at 28. However, the crude death rate reveals a stark contrast, with Hungary at 13.4 per 1,000 people compared to Sweden's 9, leading to Hungary ranking 19th and Sweden 66th. Life expectancy at birth further highlights health disparities; Hungarians can expect to live 76.8 years, whereas Swedes live significantly longer at 83.3 years, ranking Hungary 65th and Sweden 5th globally. Concerning child health, Hungary's under-5 mortality rate is 3.8 per 1,000 live births, better than the under-5 mortality rate in Sweden, which is 2.5, leading to Hungary's ranking of 28 and Sweden's 67.

Economy

The economic landscape of Hungary and Sweden also shows significant disparities. Hungary's GDP per capita stands at $23,311, far below Sweden's $57,723, placing Hungary at 84th in the world, while Sweden boasts an impressive 18th place. In terms of purchasing power parity (PPP), Hungary's GDP per capita is $47,636, compared to Sweden's $71,030, with Hungary at rank 72 and Sweden at 18. In addition, Hungary experiences a considerably high inflation rate of 3.7% compared to Sweden's 2.8%, ranking Hungary 59th and Sweden 74th in terms of economic stability. Moreover, foreign direct investment in Hungary is constrained, with net inflows at -14.7% of GDP, marking Hungary at the bottom of the rankings (100th), while Sweden enjoys a positive net inflow of 4.4% (32nd).

Trade and Investment

In the realm of trade and investment, Hungary displays a higher reliance on exports, with 74.7% of its GDP coming from exports of goods and services, placing it at 44th in the world. This is significantly higher than Sweden's 54.6%, which ranks 70th. Conversely, Hungary's imports also constitute a large portion of GDP at 69.1%, compared with Sweden's 50.2%, with Hungary ranking 47th and Sweden 77th. These figures indicate Hungary's economy is quite open but potentially vulnerable to external shocks.

Governance and Institutions

Governance and institutional quality differ remarkably between Hungary and Sweden. Hungary performs poorly in several governance indicators, with a government effectiveness score of 0.4 (rank 70) and a regulatory quality score of 0.3 (rank 80). In contrast, Sweden excels, with scores of 1.6 (rank 13) for government effectiveness and 1.7 (rank 14) for regulatory quality. Corruption control also shows a stark divergence, where Hungary's score is -0.2 (rank 76) compared to Sweden's strong position at 9th. Political stability is another concern; Hungary’s score of 0.7 places it at rank 31, while Sweden stands at 27 with a slightly higher score of 0.8.

Infrastructure and Technology

Infrastructure quality and technological advancement differ significantly between the two countries. Hungary’s logistics performance index, which assesses quality of trade and transport-related infrastructure, stands at 3.1, ranking 22nd globally. In contrast, Sweden achieves a significantly higher score of 4.2 (rank 2), indicating a superior infrastructure network. In terms of research and development expenditure as a percentage of GDP, Hungary allocates only 1.4%, placing it at 34th, while Sweden invests 3.4% (rank 1), reflecting its strong commitment to innovation.

Environment and Sustainability

When examining environmental sustainability, Hungary faces challenges, with 15.3% of total energy consumption derived from renewable sources, ranking it at 22nd. Sweden, however, achieves a remarkable 57.9% (rank 1), underscoring its leadership in sustainable energy practices. Furthermore, total greenhouse gas emissions per capita in Hungary are at 6.4 tons, compared to Sweden's 4.7 tons, contributing to Hungary's rank of 61 and Sweden's 78. Addressing water stress, Hungary has a water stress level of 8.1%, ranking 18th, whereas Sweden enjoys a much better situation, with only 3.6% (rank 23).