Luxembourg Luxembourg vs Romania Romania development indicators, 2024

Indicator
Luxembourg
Luxembourg, Value
Romania
Romania, Value
Luxembourg
Luxembourg, Rank
Romania
Romania, Rank
Luxembourg Luxembourg as % of
Romania Romania
Current account balance (% of GDP) 13.8 -8.36 7 99
Exports of goods and services (% of GDP) 216 35.6 1 70 605 %
GDP per capita (current US$) 137,517 20,072 2 57 685 %
GDP per capita, PPP (current international US$) 150,772 48,712 1 45 310 %
Imports of goods and services (% of GDP) 183 41.7 1 67 438 %
Inflation, consumer prices (annual %) 2.05 5.72 112 35 35.9 %
Net migration 5,677 -28,466 53 182
Population, total 677,717 19,069,340 167 66 3.55 %

Demography and Health

In terms of demographic indicators, Luxembourg exhibits higher life expectancy at birth, which stands at 83.4 years compared to Romania's 76.6 years, reflecting a robust healthcare system and quality of life. The crude birth rate in Luxembourg is 9.5 per 1,000 people, slightly higher than Romania's 8, indicating a stable population growth in both nations but a more favorable rate in Luxembourg. Additionally, the crude death rate is significantly lower in Luxembourg (6.6) than in Romania (12.7), illustrating a healthier population. Furthermore, when examining child health, Luxembourg has a lower under-5 mortality rate at 2.3 per 1,000 live births compared to Romania's 6.6, which contributes to an overall healthier demographic profile. Luxembourg also stands out with a net migration rate that is positive (5,677), whereas Romania faces a negative net migration (-28,466), indicating an outflow of population.

Economy

Economically, Luxembourg is markedly more affluent than Romania, demonstrated by its GDP per capita, which is $137,517 compared to Romania's $20,072. When looking at GDP per capita adjusted for purchasing power parity (PPP), Luxembourg remains dominant at $150,772, while Romania stands at $48,712. Moreover, Luxembourg's economy is fueled heavily by international trade with exports accounting for 216% of GDP, thereby ranking 4th globally, in contrast to Romania’s 35.6%, placing it at a rank of 100. The inflation rate in Luxembourg is also considerably lower at 2.1%, opposed to Romania's 5.7%, suggesting a more stable economic environment. The country's expenditure on research and development as a percentage of GDP is 1%, which is higher than Romania’s 0.5%. This investment in innovation could lead to sustainable economic growth for Luxembourg.

Trade and Investment

Luxembourg showcases a more favorable trade landscape, with a remarkable current account balance of 13.8% of GDP compared to Romania's negative balance of -8.4%. This indicates better management of trade and investments, contributing to Luxembourg's financial stability. Notably, Luxembourg is ranked 3rd globally for its imports percentage of GDP at 183%, reflecting its openness to international trade. In contrast, Romania's imports of goods and services represent 41.7% of its GDP, ranking 91st. The high-technology exports from Luxembourg account for $801.2 million, while Romania significantly outmatches this with $9.7 billion, indicating a more diversified industrial base. However, per capita evaluation shows Luxembourg's strength in high-value sectors.

Governance and Institutions

Luxembourg ranks significantly higher than Romania in various governance metrics. Its control of corruption score stands at 1.9, ranking 11th in the world, while Romania scores 0, ranking 71st. This suggests a mature and efficient system of governance in Luxembourg. Additionally, the country exhibits effective government performance, with a rating of 1.9, ranking 5th, compared to Romania's poor score of -0.1 with a ranking of 78. Political stability is another key area where Luxembourg excels, scoring 1.1 and ranking 3rd, whereas Romania has a score of 0.4 and ranks much lower at 71. The rule of law is also more established in Luxembourg, with a score of 1.8 (8th rank) compared to Romania's 0.4 (63rd rank).

Infrastructure and Technology

Luxembourg demonstrates superior infrastructure quality with a logistics performance index of 3.6, placing it 13th globally, while Romania ranks 26th with a lower score of 2.9. This indicates better trade and transport-related systems in Luxembourg, which are vital for economic efficiency. Additionally, the country has made significant investments in technology, as shown by the number of patent applications by residents, where Luxembourg stands at 112, albeit with Romania ahead at 772, likely due to its larger population base generating more innovations. However, the effective utilization of existing infrastructure and innovation in Luxembourg may lead to a more agile economy.

Environment and Sustainability

In terms of environment and sustainability, Luxembourg's renewable energy consumption amounts to 20.5% of its total energy usage, while Romania utilizes a higher percentage at 23.6%. Nevertheless, Luxembourg faces greater greenhouse gas emissions per capita at 11.8 tons, compared to Romania's 5.6 tons. This discrepancy indicates societal and industrial reliance on carbon-intensive practices in Luxembourg, despite its investment in renewable energy. Interestingly, both countries report a prevalence of undernourishment at 2.5%, indicating an equitable food security situation. However, Luxembourg performs better regarding water stress, maintaining a withdrawal proportion of 4%, compared to Romania's 7.4%, which suggests a more sustainable approach to water resource management.