Ireland Ireland vs Romania Romania development indicators, 2024

Indicator
Ireland
Ireland, Value
Romania
Romania, Value
Ireland
Ireland, Rank
Romania
Romania, Rank
Ireland Ireland as % of
Romania Romania
Exports of goods and services (% of GDP) 148 35.6 5 70 415 %
GDP per capita (current US$) 107,316 20,072 3 57 535 %
GDP per capita, PPP (current international US$) 131,175 48,712 3 45 269 %
Imports of goods and services (% of GDP) 105 41.7 7 67 253 %
Inflation, consumer prices (annual %) 2.11 5.72 109 35 36.9 %
Net migration 39,059 -28,466 28 182
Population, total 5,380,257 19,069,340 120 66 28.2 %

Demography and Health

Ireland and Romania exhibit distinct differences in their demographic indicators. Ireland has a higher birth rate of 10.3 per 1,000 people compared to Romania's 8, but Romania has a higher death rate at 12.7 compared to Ireland's 6.6. This results in a more favorable mortality profile for Ireland. Furthermore, Ireland has a life expectancy of 82.9 years, significantly higher than Romania's 76.6 years. The under-5 mortality rate also highlights Ireland’s health advantages, with 3.8 deaths per 1,000 live births in contrast to Romania's 6.6. However, both countries show a low prevalence of undernourishment at 2.5% of the population. In terms of health infrastructure, Ireland has a better number of physicians per 1,000 people (4.1 compared to Romania's 3.5), which aligns with its higher health expenditure per capita, indicating a healthier and more robust healthcare system overall.

Economy

The economic landscape in Ireland vastly outshines that of Romania across multiple indicators. Ireland boasts a GDP per capita of $107,316 in current US dollars, marking it as one of the wealthiest countries compared to Romania's $20,072. In terms of GDP per capita adjusted for purchasing power parity, Ireland's figure rises to $131,175 against Romania's $48,712. Moreover, Ireland generates a staggering 148% of its GDP from exports of goods and services, while Romania's figure is a mere 35.6%. Both countries show growth in inflation rates, but Ireland’s inflation rate of 2.1% is significantly lower than Romania's 5.7%. This economic performance reflects a more prosperous and stable economic environment in Ireland, fostering higher standards of living and economic security.

Trade and Investment

In the domain of trade and investment, Ireland again displays a favorable performance. The country leads in high-technology exports with $91.4 billion compared to Romania’s $9.7 billion, a clear indicator of its advanced manufacturing and export capabilities. Ireland's relatively lower imports percentage of GDP at 105% contrasts with Romania’s 41.7%, suggesting a more robust reliance on domestic production. Moreover, Ireland's logistics performance index of 3.5 points to higher quality in trade and transport-related infrastructure compared to Romania's score of 2.9, which can facilitate better trade operations.

Governance and Institutions

The governance landscape reflects stark contrasts between the two nations. Ireland ranks better in control of corruption, government effectiveness, political stability, and regulatory quality, averaging a score around 1.6 for both the first two indicators, whereas Romania struggles with a score of 0 for control of corruption and -0.1 for government effectiveness. This discrepancy underscores Ireland's stronger institutional framework, fostering a business-friendly environment and stability. The rule of law also fares significantly better in Ireland (1.6) compared to Romania (0.4), indicating a stronger legal system that is vital for economic and social development.

Infrastructure and Technology

The technological and infrastructural indicators tell a similar story. Ireland has a higher percentage of internet usage at 96.5% of the population compared to Romania’s 89.2%, suggesting better accessibility and a more digitally connected society. Additionally, Ireland's investment in research and development, at 1% of its GDP, surpasses that of Romania, which sits at 0.5%. Together with superior logistics performance, these factors indicate Ireland’s advanced technological framework and more developed infrastructure compared to Romania.

Environment and Sustainability

When it comes to environmental metrics, Ireland exhibits higher total greenhouse gas emissions per capita at 10.9 tCO2e/capita compared to Romania’s 5.6 tCO2e/capita. This suggests that while Romania has a lower emission profile, Ireland may need to focus on sustainable practices, especially given their production and economic growth. However, Romania demonstrates a stronger commitment to renewable energy with 23.6% of total final energy consumption coming from renewable sources versus Ireland’s 12.7%. Water stress levels are also a concern for Ireland, with 22.2% of freshwater withdrawal against Romania’s 7.4%, indicating potential challenges related to water resource management.