Luxembourg Luxembourg vs Portugal Portugal development indicators, 2024

Indicator
Luxembourg
Luxembourg, Value
Portugal
Portugal, Value
Luxembourg
Luxembourg, Rank
Portugal
Portugal, Rank
Luxembourg Luxembourg as % of
Portugal Portugal
Current account balance (% of GDP) 13.8 2.17 7 40 636 %
Exports of goods and services (% of GDP) 216 46.5 1 44 464 %
GDP per capita (current US$) 137,517 28,844 2 45 477 %
GDP per capita, PPP (current international US$) 150,772 50,617 1 41 298 %
Imports of goods and services (% of GDP) 183 44.7 1 61 409 %
Inflation, consumer prices (annual %) 2.05 2.42 112 99 84.9 %
Net migration 5,677 20,648 53 37 27.5 %
Population, total 677,717 10,701,636 167 89 6.33 %

Demography and Health

In terms of demography, Luxembourg has a crude birth rate of 9.5 births per 1,000 people, higher than Portugal's 8.1, ranking it 28th globally compared to Portugal's 59th. The crude death rate in Luxembourg stands at 6.6, significantly lower than Portugal's 11.2, placing Luxembourg at 80th rank and Portugal at 38th. Life expectancy at birth in Luxembourg is 83.4 years, making it the 4th highest, while Portugal follows with a life expectancy of 82.3 years, ranked 20th. Additionally, the under-5 mortality rate is lower in Luxembourg at 2.3 per 1,000 live births, versus Portugal's 3.2, giving Luxembourg a rank of 72 against Portugal's 52. In terms of health expenditure, Luxembourg allocates 5.8% of its GDP compared to Portugal's 10%, which indicates a different approach to health financing.

Economy

Luxembourg's economy exhibits remarkable performance, with a GDP per capita of $137,517, the highest in the world, compared to Portugal's $28,844, which ranks 65th. In terms of GDP per capita adjusted for purchasing power parity, Luxembourg again leads with $150,772, while Portugal's figure is $50,617. The share of exports of goods and services relative to GDP is substantially higher in Luxembourg at 216%, compared to Portugal’s 46.5%, highlighting Luxembourg's strong export-driven economy. The inflation rate is slightly lower in Luxembourg at 2.1%, compared to Portugal's 2.4%. Luxembourg also enjoys a current account balance of 13.8% of GDP, indicating a robust financial position versus Portugal's 2.2%.

Trade and Investment

Luxembourg excels in trade with a mere 183% of GDP spent on imports, positioning it as the 3rd highest globally, while Portugal's imports stand at 44.7% of GDP, with an 85th rank. High-technology exports are also heavily in favor of Portugal, which exported $4.2 billion compared to Luxembourg's $801.2 million, indicating a disparity in technology-driven commerce. The net migration figures show Luxembourg's 5,677 migrants versus Portugal’s 20,648, signaling differing immigration influences on respective labor markets.

Governance and Institutions

In governance metrics, Luxembourg demonstrates strong performance with a corruption control score of 1.9, placing it 11th globally, contrasting with Portugal's score of 0.7 at the 45th rank. Luxembourg also outpaces Portugal in government effectiveness with a score of 1.9, ranking 5th versus Portugal's 1 at the 44th rank. The political stability rating is favorable for Luxembourg at 1.1 (3rd rank) while Portugal scores 0.7 (37th rank), indicating a more stable governance environment in Luxembourg. Regulatory quality and rule of law are similarly better in Luxembourg, with scores of 1.9 and 1.8, respectively, ranking 1st and 8th, compared to Portugal's scores of 0.8 and 1.1 at ranks 55th and 41st.

Infrastructure and Technology

Infrastructure performance is reported equally, with both countries scoring 3.6 on the logistics performance index, indicating a parity in trade and transport-related infrastructure quality. However, investment in research and development as a percentage of GDP shows Luxembourg at 1% versus Portugal's 1.7%. This slight edge for Portugal suggests a more aggressive pursuit of innovation, although Luxembourg remains competitive.

Environment and Sustainability

On environmental metrics, Luxembourg has a renewable energy consumption rate of 20.5% compared to Portugal's more substantial 32.3%, showcasing Portugal as more advanced in utilizing renewable energy sources. However, Luxembourg handles water stress better, withdrawing only 4% of its available freshwater resources compared to Portugal's 12.3%. Regarding greenhouse gas emissions, Luxembourg’s 11.8 tons of CO2e per capita is starkly higher than Portugal's 5 tons, positioning Portugal better in terms of environmental sustainability.