Italy Italy vs Portugal Portugal development indicators, 2024

Indicator
Italy
Italy, Value
Portugal
Portugal, Value
Italy
Italy, Rank
Portugal
Portugal, Rank
Italy Italy as % of
Portugal Portugal
Current account balance (% of GDP) 1.13 2.17 45 40 51.9 %
Exports of goods and services (% of GDP) 32.7 46.5 77 44 70.4 %
Foreign direct investment, net inflows (% of GDP) 0.918 4.27 74 23 21.5 %
GDP per capita (current US$) 40,226 28,844 28 45 139 %
GDP per capita, PPP (current international US$) 60,847 50,617 30 41 120 %
Imports of goods and services (% of GDP) 30.4 44.7 96 61 68.2 %
Inflation, consumer prices (annual %) 0.982 2.42 141 99 40.7 %
Net migration 95,246 20,648 19 37 461 %
Population, total 58,986,023 10,701,636 25 89 551 %

Demography and Health

As of 2023, Italy has a crude birth rate of 6.4 per 1,000 people, which is lower than Portugal's 8.1, placing Italy at rank 81 compared to Portugal's 59. Both countries have the same crude death rate of 11.2 per 1,000 people, with Italy ranking 38. In terms of life expectancy, Italy outperforms Portugal, with an average of 83.7 years versus Portugal's 82.3 years, ranking 2nd globally compared to Portugal’s 20th. The under-5 mortality rate shows Italy at 2.8 per 1,000 live births and Portugal slightly higher at 3.2, ranking 62 for Italy and 52 for Portugal. The prevalence of undernourishment is identical at 2.5%, indicating a robust food security landscape for both nations.

Economy

Italy’s GDP per capita stands at $40,226 in 2024, significantly higher than Portugal’s $28,844, reflecting Italy's higher rank at 42 versus Portugal's 65. However, Italy has a lower GDP per capita (PPP) at $60,847 compared to Portugal's $50,617, giving ranks of 39 and 61, respectively. The unemployment rate is higher in Italy at 7.6% compared to Portugal’s 6.5%. Inflation rates are lower in Italy at 1% against Portugal's 2.4%, presenting a healthier economic environment for Italy.

Trade and Investment

In terms of international trade, Italy's exports of goods and services constitute 32.7% of GDP, significantly less than Portugal's 46.5%, placing Italy at rank 106 and Portugal at 80. Similarly, Italy's imports are also lower at 30.4% of GDP compared to Portugal's 44.7% (ranked 107 and 85, respectively). Foreign direct investment inflows show a stark contrast, as Italy's are low at 0.9% of GDP against Portugal's robust 4.3%, ranking Italy 86 and Portugal 33. The current account balance also presents Italy at 1.1% of GDP compared to Portugal’s 2.2%, indicating stronger trade stability for Portugal.

Governance and Institutions

In the realm of governance, Portugal shows a stronger performance with a Government Effectiveness score of 1, compared to Italy’s 0.6 (ranks 44 and 58, respectively). However, both countries exhibit similar levels of corruption control with Italy at 0.6 and Portugal at 0.7, ranking 53 and 45. The Rule of Law is significantly better in Portugal at 1.1 versus Italy’s 0.4, indicating a better enforcement of laws in Portugal (ranks 41 and 69). Political stability is slightly more favorable in Portugal at 0.7 than in Italy at 0.6 (ranks 37 and 53).

Infrastructure and Technology

Italy performs better in terms of internet usage, with 87% of its population utilizing the internet compared to Portugal’s 85.8%. In logistics, Italy ranks 8th globally with a performance index of 3.8, while Portugal ranks 13th at 3.6, indicating slightly better trade and transport-related infrastructure in Italy. Concerning high-technology exports, Italy leads significantly at $52.2 billion compared to Portugal’s $4.2 billion, ranking 15 and 52 respectively. This suggests a robust technological capacity within Italy that is driving innovative sectors.

Environment and Sustainability

In environmental metrics, Portugal surpasses Italy in renewable energy consumption, with 32.3% of total energy consumption coming from renewable sources, against Italy's 17.5%. Italy's per capita total greenhouse gas emissions stand at 6.3 tCO2e, higher than Portugal’s at 5.0, indicating a better outcome in emissions management in Portugal, which ranks 76th as opposed to Italy’s rank of 62. Water stress levels are notably higher in Italy, at 29.6%, compared to 12.3% in Portugal, suggesting that Italy faces greater challenges in managing freshwater resources.