Italy Italy vs Slovenia Slovenia development indicators, 2024

Indicator
Italy
Italy, Value
Slovenia
Slovenia, Value
Italy
Italy, Rank
Slovenia
Slovenia, Rank
Italy Italy as % of
Slovenia Slovenia
Current account balance (% of GDP) 1.13 4.46 45 25 25.3 %
Exports of goods and services (% of GDP) 32.7 81.5 77 12 40.1 %
Foreign direct investment, net inflows (% of GDP) 0.918 2.69 74 44 34.1 %
GDP per capita (current US$) 40,226 34,089 28 36 118 %
GDP per capita, PPP (current international US$) 60,847 56,531 30 34 108 %
Imports of goods and services (% of GDP) 30.4 74.9 96 16 40.6 %
Inflation, consumer prices (annual %) 0.982 1.97 141 115 50 %
Net migration 95,246 3,319 19 60 2,870 %
Population, total 58,986,023 2,126,324 25 148 2,774 %

Demography and Health

Italy has a total population of 59 million, significantly larger than Slovenia's 2.1 million. The crude birth rate in Italy is lower at 6.4 per 1,000 people compared to Slovenia's 8, highlighting a demographic challenge for Italy. The death rate is also higher in Italy at 11.2 per 1,000 compared to Slovenia's 10.2. However, Italy boasts a life expectancy of 83.7 years, ranking 2nd globally, while Slovenia has a life expectancy of 82 years, ranking 24th. The under-5 mortality rate in Italy is 2.8 per 1,000 live births, which is a bit higher than Slovenia's 2.2, indicating relatively better healthcare for children in Slovenia. With a suicide mortality rate of 7 per 100,000 population, Italy performs better than Slovenia's significantly higher rate of 18.8, pointing to mental health as a more critical issue in Slovenia.

Economy

Italy's GDP per capita stands at $40,226, which is higher than Slovenia's $34,089. Nevertheless, using purchasing power parity, Slovenia's GDP per capita of $56,531 approaches that of Italy's $60,847, suggesting that living standards in terms of purchasing power might be closer than nominal figures indicate. Italy's inflation rate is at a low 1%, compared to Slovenia's 2%, indicating more stability in prices. Italy's public spending on health, at 8.5% of GDP, is lower than Slovenia's 9.4%, demonstrating a comparatively higher prioritization of health in Slovenia's economy.

Trade and Investment

Exports in Italy account for 32.7% of GDP, whereas Slovenia's outrageously high 81.5% underscores its export-oriented economy. On the import side, Italy also represents a lesser figure at 30.4% opposed to Slovenia's 74.9%. High-technology exports amount to $52.2 billion for Italy, marking a more advanced technological sector compared to Slovenia's $4.2 billion, positioning Italy 15th globally for high-technology exports while Slovenia ranks significantly lower at 51st. Foreign direct investment inflows are also notable with Italy at 0.9% of GDP compared to Slovenia at 2.7%, reflecting a more vibrant investment climate in Slovenia.

Governance and Institutions

In governance metrics, Italy scores lower on several fronts compared to Slovenia. Italy's control of corruption index stands at 0.6 while Slovenia's is at 0.8. Similarly, government effectiveness is rated at 0.6 in Italy against Slovenia's 1. Italy faces political instability challenges with a score of 0.6 in terms of Political Stability and Absence of Violence/Terrorism, while Slovenia performs better at 0.8. The Rule of Law presents a stark contrast with Italy scoring 0.4 and Slovenia achieving a score of 1, indicating stronger institutional integrity in Slovenia.

Infrastructure and Technology

The logistics performance index, which evaluates the quality of trade and transport-related infrastructure, gives Italy a score of 3.8, while Slovenia is slightly behind at 3.6, suggesting that both countries have reasonably effective infrastructures. However, Slovenia outperforms Italy in terms of technological access, with 90.4% of the population using the internet compared to Italy's 87%. Furthermore, the patent applications indicate a healthier innovation ecosystem in Italy with 10,281 applications, contrasting with Slovenia's 222, revealing Italy’s strength in innovation and technology development.

Environment and Sustainability

In environmental metrics, Slovenia shows a better position in renewable energy consumption at 23.4% of total energy as compared to Italy's 17.5%, reflecting greater commitment towards sustainability. However, Italy's rate of greenhouse gas emissions is 6.3 tons per capita, which is lower than Slovenia’s 7.5 tons, suggesting relatively better management of emissions in Italy. The current account balance reveals Italy at 1.1% while Slovenia leads with a higher 4.5%, indicating more robust economic sustainability. However, Italy faces significant water stress levels with 29.6% of freshwater resources being withdrawn, compared to Slovenia's 6.3%, demonstrating better conservation efforts in Slovenia.