Italy vs Slovakia development indicators, 2024

Demography and Health

Italy has a total population of approximately 59 million, significantly larger than Slovakia's 5.4 million. The crude birth rate is higher in Slovakia (9 per 1,000 people) compared to Italy (6.4), indicating a relatively younger population structure in Slovakia. Conversely, Italy experiences a higher crude death rate (11.2 per 1,000 people) than Slovakia (10), reflecting demographic aging. Life expectancy at birth in Italy stands at 83.7 years, markedly higher than Slovakia’s 78 years, suggesting better overall health outcomes. Moreover, Italy has a lower under-5 mortality rate (2.8 per 1,000 live births) compared to Slovakia's 6.1, highlighting more effective child healthcare systems. Dissatisfaction with health can lead to higher suicide rates; here, Italy's rate of 7 per 100,000 is more favorable than Slovakia’s 9.9.

Economy

Italy's GDP per capita is considerably higher, at $40,226 compared to Slovakia's $26,148. When considering PPP, Italy still leads with $60,847 against Slovakia's $47,181, emphasizing a stronger purchasing power in Italy. However, in terms of economic growth metrics, Slovakia performs exceptionally well with 85.2% of GDP attributed to exports, vastly outpacing Italy's 32.7%. This indicates that Slovakia's economy is more export-dependent, potentially offering resilience against domestic economic fluctuations. In contrast, Italy has a lower inflation rate of 1% compared to Slovakia's 2.8%, suggesting more stable price levels.

Trade and Investment

Slovakia excels in its net foreign direct investment inflows at 2.5% of GDP, while Italy showcases a modest 0.9%. This robust investment environment in Slovakia reflects its favorable conditions for foreign businesses. Additionally, Slovakia’s imports as a percentage of GDP are also relatively high at 85%, compared to Italy's 30.4%. The difference in export metrics indicates that Slovakia might be more integrated into global supply chains, whereas Italy focuses more on domestic consumption.

Governance and Institutions

Italy ranks slightly better than Slovakia in control of corruption and government effectiveness. Italy's values stand at 0.6 for both metrics, while Slovakia features 0.3 and 0.2 respectively. These figures suggest that Italy has a more robust institutional framework, although both countries face challenges. In terms of political stability and absence of violence, both countries perform similarly, with Italy at 0.6 and Slovakia at 0.6. Conversely, Italy ranks lower in the Rule of Law (0.4) compared to Slovakia (0.6), indicating a more uncertain legal environment in Italy.

Infrastructure and Technology

In logistics performance, Italy (3.8) demonstrates better quality in trade and transport-related infrastructure than Slovakia (3.3). This differential suggests Italy may benefit from superior logistics capabilities that enhance trade efficiency. Additionally, Italy leads in high-tech exports at $52.2 billion, compared to Slovakia's $10.1 billion, showcasing its advanced technological sector. Furthermore, the research and development expenditure is higher in Italy at 1.4% of GDP, signaling greater innovation investments compared to Slovakia's 1%.

Environment and Sustainability

Italy's renewable energy consumption stands at 17.5%, slightly lower than Slovakia's at 17.9%. This indicates that both nations are oriented towards sustainable energy, but Slovakia has a slight edge. However, Slovakia faces a higher level of water stress at 2.4%, compared to Italy's much more manageable 29.6%. Moreover, total greenhouse gas emissions per capita reveal that Italy emits 6.3 tons of CO2e while Slovakia has a higher figure of 8.3 tons per capita, indicating Italy's relative advantage in emissions management.