Italy Italy vs Romania Romania development indicators, 2024

Indicator
Italy
Italy, Value
Romania
Romania, Value
Italy
Italy, Rank
Romania
Romania, Rank
Italy Italy as % of
Romania Romania
Current account balance (% of GDP) 1.13 -8.36 45 99
Exports of goods and services (% of GDP) 32.7 35.6 77 70 92 %
Foreign direct investment, net inflows (% of GDP) 0.918 1.92 74 57 47.8 %
GDP per capita (current US$) 40,226 20,072 28 57 200 %
GDP per capita, PPP (current international US$) 60,847 48,712 30 45 125 %
Imports of goods and services (% of GDP) 30.4 41.7 96 67 73 %
Inflation, consumer prices (annual %) 0.982 5.72 141 35 17.2 %
Net migration 95,246 -28,466 19 182
Population, total 58,986,023 19,069,340 25 66 309 %

Demography and Health

As of 2023, Italy has a crude birth rate of 6.4 per 1,000 people, slightly lower than Romania's 8. This difference is reflective of Italy's aging population and lower fertility rates. In terms of crude death rates, Italy has a rate of 11.2 per 1,000 people compared to Romania's 12.7, indicating a slightly healthier longevity profile for Italy. Furthermore, Italy boasts a significantly higher life expectancy at birth, averaging 83.7 years compared to Romania's 76.6 years. However, Romania shows a commendable under-5 mortality rate of 6.6 per 1,000 live births, significantly broader than Italy's 2.8.

Economy

Italy's GDP per capita is $40,226 in 2024, substantially higher than Romania's $20,072, reflecting Italy's more developed economy. In terms of purchasing power parity (PPP), Italy ranks better as well, with $60,847 compared to Romania's $48,712. The inflation rate in Italy is notably lower at 1%, contrasted sharply with Romania's 5.7%. Italy's economy is characterized by a smaller export sector, accounting for 32.7% of GDP, compared to Romania's 35.6%. However, Italy has a better position in high-technology exports, valued at $52.2 billion, placing it 15th globally, while Romania sits at 42nd with $9.7 billion.

Trade and Investment

Italy’s net foreign direct investment inflows are at 0.9% of GDP, which ranks it lower than Romania's 1.9%. Furthermore, Italy’s trade saw higher import levels, accounting for 30.4% of its GDP compared to Romania's 41.7%, reflecting Romania's greater reliance on imports. Italy also benefits from a current account surplus of 1.1% of GDP, while Romania struggles with a deficit of 8.4%. This indicates a lower economic vulnerability for Italy related to external financial pressures.

Governance and Institutions

In terms of governance, Italy performs better on several indices. Both countries have scores reflecting various governance metrics, but Italy’s control of corruption at 0.6 surpasses Romania’s 0, revealing a more robust institutional integrity. The government effectiveness index also favors Italy (0.6) compared to Romania's -0.1. Furthermore, Italy ranks higher in political stability, regulatory quality, and rule of law, echoing a more secure and effective governance structure.

Infrastructure and Technology

Italy has a logistics performance index of 3.8, indicating better quality of trade and transport-related infrastructure than Romania, which has an index of 2.9. This reflects Italy's advanced infrastructure facilitating trade and economic activities. Italy also benefits from higher levels of Internet usage at 87% compared to Romania’s 89.2%, suggesting an edge in digital connectivity, though both countries are relatively well-connected.

Environment and Sustainability

In environmental metrics, Italy consumes 17.5% of its total final energy from renewable sources, while Romania leads in this category with 23.6%. However, Italy has a higher level of water stress, withdrawing 29.6% of its freshwater resources compared to Romania's more sustainable level of 7.4%. Regarding greenhouse gas emissions, Italy has a slightly higher emissions per capita at 6.3 tons compared to Romania’s 5.6 tons, demonstrating different challenges in addressing climate change. Nevertheless, both countries have maintained a low prevalence of undernourishment at 2.5%. The investment in research and development is higher in Italy at 1.4% of GDP versus Romania’s 0.5%, indicating a commitment to sustainable innovations and transparency in environmental governance.