Ireland Ireland vs Luxembourg Luxembourg development indicators, 2024

Indicator
Ireland
Ireland, Value
Luxembourg
Luxembourg, Value
Ireland
Ireland, Rank
Luxembourg
Luxembourg, Rank
Ireland Ireland as % of
Luxembourg Luxembourg
Exports of goods and services (% of GDP) 148 216 5 1 68.5 %
GDP per capita (current US$) 107,316 137,517 3 2 78 %
GDP per capita, PPP (current international US$) 131,175 150,772 3 1 87 %
Imports of goods and services (% of GDP) 105 183 7 1 57.7 %
Inflation, consumer prices (annual %) 2.11 2.05 109 112 103 %
Net migration 39,059 5,677 28 53 688 %
Population, total 5,380,257 677,717 120 167 794 %

Demography and Health

Both Ireland and Luxembourg exhibit similar death rates, standing at 6.6 per 1,000 people; however, Ireland has a slightly higher birth rate of 10.3 compared to Luxembourg's 9.5. This indicates a minor demographic growth advantage for Ireland. In terms of life expectancy, Ireland (82.9 years) is slightly behind Luxembourg (83.4 years), while the under-five mortality rate shows Ireland at 3.8 per 1,000 live births, significantly higher than Luxembourg's 2.3, suggesting better early childhood health outcomes in Luxembourg. The net migration figure highlights a greater influx in Ireland (39,059) versus Luxembourg (5,677), which may imply economic opportunities drawing people to Ireland. The poverty headcount ratio shows Ireland at 14%, relatively lower than Luxembourg's 17.3%, indicating better economic conditions for a higher percentage of its population.

Economy

Ireland's GDP per capita stands at $107,316, ranking 5th in the world, yet it falls short of Luxembourg's leading value of $137,517. Ireland also ranks 6th on a purchasing power parity (PPP) basis, with a GDP per capita of $131,175 compared to Luxembourg's $150,772. Ireland excels in high-technology exports ($91.4 billion, 11th rank), which outstrip Luxembourg's mere $801.2 million. However, Ireland's foreign direct investment (FDI) is severely negative (-25.4% of GDP), reflecting either significant outgoing investment or a lack of incoming investment, in contrast to Luxembourg's more manageable -71.7%. The inflation rate is similar for both nations at 2.1%, suggesting stable consumer prices.

Trade and Investment

Exports of goods and services constitute a significant portion of GDP, with Ireland at 148% and Luxembourg leading at 216%. This disparity indicates Luxembourg's economy is more heavily reliant on international trade. Conversely, Ireland's imports also reflect a high percentage of GDP at 105%, compared to Luxembourg's 183%, which could imply a great reliance on foreign goods and services. When considering net FDI inflows, Ireland's negative figure raised concerns about investment attraction compared to Luxembourg, indicating an economic climate that may not favor incoming capital.

Governance and Institutions

Luxembourg surpasses Ireland in various governance indicators such as Political Stability and Absence of Violence/Terrorism (1.1 for Luxembourg against Ireland's 0.9) and overall Government Effectiveness (1.9 for Luxembourg versus 1.6 for Ireland). Luxembourg also ranks higher in Regulatory Quality, Rule of Law, and Control of Corruption. This reflects a more effective governance structure in Luxembourg, contributing to a stable socio-political environment compared to Ireland, particularly when looking at regulatory frameworks and the fight against corruption.

Infrastructure and Technology

Both countries score similarly in logistics performance index, with Ireland at 3.5 and Luxembourg at 3.6, reflecting comparable quality in trade and transport-related infrastructure. However, Ireland's focus on high-technology exports may suggest a more innovative technological landscape. Patent applications hold significance for evaluating technological advancement, where Ireland ranks 24th with 75 applications as opposed to Luxembourg's 20th rank with 112 applications, indicating a strong emphasis on innovation in Luxembourg.

Environment and Sustainability

In environmental metrics, Luxembourg shows a robust commitment to sustainability with 20.5% of its total energy consumption from renewable sources, as opposed to Ireland's 12.7%. This distinction reflects a greater emphasis on renewable energy in Luxembourg's energy policy. Furthermore, Luxembourg's level of water stress is notably low (4%) compared to Ireland's 22.2%, indicating better management of freshwater resources. Annual greenhouse gas emissions reveal that Ireland (10.9 tons CO2e/capita) and Luxembourg (11.8 tons CO2e/capita) are not vastly different, although Ireland ranks slightly better. Overall, while both countries face environmental challenges, Luxembourg's proactive approach to sustainability sets it apart from Ireland.