Ireland vs Slovakia development indicators, 2024

Demography and Health

Both Ireland and Slovakia have a population of approximately 5.4 million people as of 2024. In regard to birth rates, Ireland exhibits a relatively higher crude birth rate of 10.3 per 1,000 people, compared to Slovakia's 9. This slight difference indicates a marginally more youthful demographic in Ireland. The crude death rate is lower in Ireland at 6.6 per 1,000, while Slovakia has a death rate of 10, indicating that Ireland may have better healthcare systems contributing to lower mortality. Life expectancy at birth stands at 82.9 years in Ireland, which outperforms Slovakia's 78 years. Additionally, Ireland shows a significant advantage in terms of under-5 mortality rates, with 3.8 deaths per 1,000 live births compared to Slovakia's 6.1. Regarding health expenditure, Ireland allocates 6.1% of GDP toward current health expenditure, while Slovakia allocates a higher percentage at 7.7%. This indicates a more efficient health system in Ireland relative to its spending.

Economy

Ireland boasts a GDP per capita of $107,316, significantly higher than Slovakia's $26,148, reflecting a more affluent economy. Ireland also leads in GDP per capita when adjusted for purchasing power parity (PPP), with $131,175 compared to Slovakia's $47,181. Exports as a percentage of GDP further highlight Ireland's strong economy at 148%, compared to Slovakia's 85.2%. This underlines Ireland's position as a global trading hub, particularly in high-technology sectors, where it has exports totaling $91.4 billion against Slovakia's $10.1 billion. Inflation rates are lower in Ireland at 2.1% relative to Slovakia's 2.8%, indicating a more stable economic environment.

Trade and Investment

In terms of trade and investment, Ireland again demonstrates strength with both high exports and significant inflow of foreign direct investment (FDI). Ireland ranks 5th globally for exports of goods and services as a percentage of GDP, significantly outperforming Slovakia's 29th rank. Additionally, Ireland has a net migration of 39,059, reflecting its attractiveness to foreign workers and investors, whereas Slovakia experiences a net migration of -21,027, suggesting challenges in retaining talent. The level of innovation is evident in the higher number of patent applications per resident in Ireland (75) compared to Slovakia (146), indicating a more dynamic environment for research and entrepreneurship.

Governance and Institutions

In the area of governance and institutions, Ireland fares significantly better. According to the Control of Corruption index, Ireland scores 1.6 while Slovakia only manages a score of 0.3, indicating a much lower degree of governmental integrity in Slovakia. This is also highlighted by the higher Government Effectiveness score of 1.6 for Ireland versus 0.2 for Slovakia. Ireland ranks higher in Political Stability and Absence of Violence/Terrorism (0.9) compared to Slovakia’s 0.6, which may encourage a favorable environment for business and investment. Regulatory Quality also reflects Ireland's advantage (1.7) over Slovakia (0.6), indicating a more favorable regulatory environment for businesses.

Infrastructure and Technology

When it comes to infrastructure, both countries perform reasonably well; however, Ireland maintains the upper hand. The Logistics Performance Index evaluates quality of trade and transport-related infrastructure, where Ireland scores 3.5, slightly ahead of Slovakia’s 3.3. This suggests better overall efficiency and performance in logistics services in Ireland. On the technology front, high-technology exports in Ireland are vastly superior, reflecting its status as a global leader in high-tech industries. The research and development expenditure, while relatively modest in both countries at 1.0% of GDP, does indicate that both recognize the importance of innovation.

Environment and Sustainability

Regarding environmental sustainability, Slovakia leads slightly in renewable energy consumption at 17.9% as compared to Ireland's 12.7%. However, Ireland’s total greenhouse gas emissions per capita are higher at 10.9 tons compared to Slovakia’s 8.3 tons. This showcases Slovakia's relatively favorable standings in environmental metrics, although both nations have room for improvement. The level of water stress indicates Ireland's more efficient use of freshwater resources with a score of 22.2% versus Slovakia’s efficient 2.4%, showing its sustainable water management practices.