Italy Italy vs Lithuania Lithuania development indicators, 2024

Indicator
Italy
Italy, Value
Lithuania
Lithuania, Value
Italy
Italy, Rank
Lithuania
Lithuania, Rank
Italy Italy as % of
Lithuania Lithuania
Current account balance (% of GDP) 1.13 2.48 45 35 45.6 %
Exports of goods and services (% of GDP) 32.7 74.1 77 19 44.2 %
Foreign direct investment, net inflows (% of GDP) 0.918 4.24 74 24 21.7 %
GDP per capita (current US$) 40,226 29,386 28 44 137 %
GDP per capita, PPP (current international US$) 60,847 54,414 30 37 112 %
Imports of goods and services (% of GDP) 30.4 68.9 96 24 44.2 %
Inflation, consumer prices (annual %) 0.982 0.716 141 145 137 %
Net migration 95,246 2,617 19 61 3,640 %
Population, total 58,986,023 2,888,055 25 138 2,042 %

Demography and Health

Italy has a population of approximately 59 million, placing it significantly ahead of Lithuania's 2.9 million. The birth rate in Italy is 6.4 per 1,000 people, slightly lower than Lithuania's 7.2, suggesting a relatively stagnant population growth. However, the death rate is higher in Lithuania at 12.9 compared to Italy's 11.2, indicating a greater loss of life. Life expectancy in Italy is notably higher at 83.7 years, compared to 77 years in Lithuania. Moreover, Italy has a lower under-5 mortality rate, with 2.8 deaths per 1,000 live births, compared to Lithuania's 3.4, showcasing a potentially more effective healthcare system for children. A troubling indicator is the suicide mortality rate, significantly higher in Lithuania at 22.1 per 100,000 people versus Italy's 7, indicating serious mental health challenges in Lithuania. Net migration is also considerably higher in Italy, reflecting its attractiveness as a destination.

Economy

Italy's economy is characterized by a GDP per capita of $40,226, which is markedly higher than Lithuania's $29,386. This disparity suggests that, on average, individuals in Italy enjoy a greater standard of living. In terms of GDP purchasing power parity (PPP), Italy also leads with $60,847 compared to Lithuania's $54,414. However, both countries face challenges, including poverty rates; Italy's poverty rate stands at 20.1%, slightly lower than Lithuania's 20.9%. Inflation rates are relatively low and comparable, with Italy at 1% and Lithuania at 0.7%. Current health expenditure as a percentage of GDP is also higher in Italy at 8.5% against Lithuania's 7.3%, indicating a stronger commitment to public health funding.

Trade and Investment

Italy's economy is heavily reliant on trade, with exports accounting for 32.7% of GDP, which is significantly lower than Lithuania's 74.1%. This stark contrast highlights Lithuania's potential as a trading economy, perhaps due to its EU membership and strategic location. On the investment front, Italy shows net foreign direct investment inflows at only 0.9% of GDP, whereas Lithuania demonstrates a more robust inflow of 4.2%, suggesting a more favorable investment climate or stronger investor confidence. Additionally, the logistics performance index points to Italy's superior trade and transport-related infrastructure (3.8) compared to Lithuania (3.5), potentially facilitating better export performance despite lower export percentages.

Governance and Institutions

Governance metrics show both nations facing challenges. Italy has lower control of corruption (0.6) compared to Lithuania (0.8), indicating a potentially better managed political and administrative system in Lithuania. However, government effectiveness is higher in Lithuania (1.1) than in Italy (0.6), suggesting a more adept governance framework. Political stability is also slightly better in Lithuania (0.7) versus Italy (0.6), which may encourage investment. Regulatory quality mirrors this trend, with Lithuania excelling (1.3) compared to Italy (0.6), which can impact business operations and economic growth.

Infrastructure and Technology

When it comes to technology, Italy leads in high-technology exports, with $52.2 billion compared to Lithuania's $3.7 billion. This indicates a more advanced technological industry in Italy. Patent applications reflect this trend, with Italy registering 10,281 applications compared to Lithuania's 81. However, Lithuania has shown commendable progress in internet usage, where 88.5% of its population is connected compared to Italy's 87%. Infrastructure quality is also notable with Italy's logistics performance index at 3.8, indicating a better environment for trade than Lithuania’s 3.5.

Environment and Sustainability

Italy consumes 17.5% of its total energy from renewable sources, which is lower than Lithuania's impressive 33.2%. This indicates a stronger commitment to sustainability in Lithuania, which is also reflected in its considerably low level of water stress at 1.8%. Italy, on the other hand, has a higher level of water stress at 29.6%. However, emissions per capita are higher for Italy at 6.3 t CO2e compared to Lithuania's 7.2 t CO2e, though both are near similar levels. This underscores the need for both nations to intensify their efforts in addressing climate challenges and improving environmental health.