Italy Italy vs Sweden Sweden development indicators, 2024

Indicator
Italy
Italy, Value
Sweden
Sweden, Value
Italy
Italy, Rank
Sweden
Sweden, Rank
Italy Italy as % of
Sweden Sweden
Current account balance (% of GDP) 1.13 7.42 45 13 15.2 %
Exports of goods and services (% of GDP) 32.7 54.6 77 34 59.9 %
Foreign direct investment, net inflows (% of GDP) 0.918 4.37 74 22 21 %
GDP per capita (current US$) 40,226 57,723 28 14 69.7 %
GDP per capita, PPP (current international US$) 60,847 71,030 30 23 85.7 %
Imports of goods and services (% of GDP) 30.4 50.2 96 56 60.6 %
Inflation, consumer prices (annual %) 0.982 2.84 141 88 34.6 %
Net migration 95,246 50,115 19 24 190 %
Population, total 58,986,023 10,569,709 25 92 558 %

Demography and Health

Italy has a crude birth rate of 6.4 per 1,000 people, significantly lower than Sweden's 9.5, placing Italy 81st and Sweden 28th in global rankings. Conversely, Italy's crude death rate is higher at 11.2 per 1,000 compared to Sweden's 9, which ranks Italy 38th and Sweden 66th, indicating a potential aging population challenge for Italy. Life expectancy at birth is relatively high in both countries, with Italy at 83.7 years, ranking 2nd, while Sweden follows closely at 83.3 years and ranks 5th. Italy's under-5 mortality rate stands at 2.8 per 1,000 live births, slightly above Sweden's 2.5. On malnutrition, both countries have the same prevalence of undernourishment at 2.5%, reflecting similar nutritional statuses. Lastly, suicide mortality rates are more concerning in Italy at 7 per 100,000 compared to Sweden's 13.8, indicating different mental health challenges.

Economy

Italy's GDP per capita is $40,226, which is lower than Sweden's $57,723, ranking Italy 42nd and Sweden 18th globally. When considering GDP per capita measured in purchasing power parity (PPP), Italy's value is $60,847 against Sweden's $71,030, again favoring Sweden. In terms of inflation, Italy has managed to keep it low at 1%, while Sweden's inflation rate is higher at 2.8%. The labor market remains relatively stable, with both countries experiencing an unemployment rate of 7.6%. Italy's economy shows dependency on exports, constituting 32.7% of GDP, but this is substantially lower than Sweden's impressive 54.6%, showcasing Sweden's robust manufacturing and technology sectors. This dependency extends to imports as well, where Italy’s imports are 30.4% of GDP compared to Sweden’s 50.2%, indicating differing levels of economic openness.

Trade and Investment

Italy's foreign direct investment (FDI) net inflows are only 0.9% of GDP, which is quite low compared to Sweden's 4.4%, reflecting Italy's challenges in attracting foreign investments. Moreover, Italy's high-technology exports amount to $52.2 billion, placing it 15th in the world, while Sweden has lower high-technology exports of $25.2 billion but ranks 28th overall. Current account balance is more favorable in Sweden at 7.4% compared to Italy's 1.1%, suggesting that Sweden maintains a stronger position in international financial transactions.

Governance and Institutions

Governance indicators show that Sweden performs markedly better than Italy across several dimensions. In Control of Corruption, Sweden scores 2, positioning it 9th globally, while Italy lags behind with a score of 0.6, ranking 53rd. Similarly, Sweden excellently ranks 13th in Government Effectiveness with a score of 1.6, in contrast to Italy's 0.6 and 58th position. The Rule of Law is also a stronger element in Sweden's governance structure at rank 19, with a score of 1.6, compared to Italy's meager 0.4, ranking 69th. Public trust in institutions appears more stable in Sweden given their higher scores in key governance metrics.

Infrastructure and Technology

Information and communications technology access in Italy is quite high, with 87% of the population using the Internet, although this trails behind Sweden’s impressive 95.7%. Sweden also excels in logistics performance with an index score of 4.2, ranking 2nd, whereas Italy scores 3.8, ranking 8th, suggesting higher efficiency in Sweden’s trade and transport-related infrastructure. Italy’s research and development expenditure stands at 1.4% of GDP, while Sweden outperforms at 3.4%, explaining Sweden's edge in innovation and technological advancements.

Environment and Sustainability

In terms of renewable energy consumption, Sweden leads significantly with 57.9% of total final energy consumption sourced from renewable means, ranking first in the world, while Italy falls behind at 17.5%, ranking 18th. Regarding greenhouse gas emissions, Italy emits 6.3 tons of CO2 equivalent per capita, significantly higher than Sweden's 4.7 tons, which is reflective of their differing approaches to energy and sustainability. Furthermore, Italy's water stress levels are concerning at 29.6%, ranking 8th, compared to Sweden's much lower figure of 3.6%, indicating superior management of freshwater resources in Sweden. Overall, Sweden's sustainability efforts outstrip Italy's on multiple fronts, showcasing a future-oriented approach to environmental stewardship.