Luxembourg Luxembourg vs Slovakia Slovakia development indicators, 2024

Indicator
Luxembourg
Luxembourg, Value
Slovakia
Slovakia, Value
Luxembourg
Luxembourg, Rank
Slovakia
Slovakia, Rank
Luxembourg Luxembourg as % of
Slovakia Slovakia
Current account balance (% of GDP) 13.8 -2.75 7 80
Exports of goods and services (% of GDP) 216 85.2 1 9 253 %
GDP per capita (current US$) 137,517 26,148 2 46 526 %
GDP per capita, PPP (current international US$) 150,772 47,181 1 49 320 %
Imports of goods and services (% of GDP) 183 85 1 11 215 %
Individuals using the Internet (% of population) 98.8 89.8 2 7 110 %
Inflation, consumer prices (annual %) 2.05 2.76 112 92 74.4 %
Net migration 5,677 -21,027 53 170
Population, total 677,717 5,422,069 167 119 12.5 %

Demography and Health

As of 2023, Luxembourg has a crude birth rate of 9.5 per 1,000 people, which is slightly higher than Slovakia's 9. This places Luxembourg in a better demographic position (ranked 28th globally) compared to Slovakia's 40th position. In terms of health, Luxembourg's crude death rate stands at 6.6 per 1,000 people, lower than Slovakia's 10, resulting in Luxembourg ranking 80th versus Slovakia's 51st. Life expectancy at birth in Luxembourg is also notably higher at 83.4 years compared to Slovakia's 78, ranking Luxembourg 4th globally, whereas Slovakia stands at 57th. Additionally, Luxembourg has a significantly lower under-5 mortality rate (2.3 per 1,000 live births) compared to Slovakia (6.1), further emphasizing Luxembourg's advantages in health outcomes.

Economy

Luxembourg boasts an exceptional GDP per capita of $137,517, making it the highest in the world, compared to Slovakia's $26,148, which ranks 73rd. The purchasing power parity (PPP) figures further affirm this economic superiority, with Luxembourg again ranked 1st globally at $150,772 against Slovakia's $47,181 (rank 74). Exports of goods and services are a critical part of the Luxembourg economy, constituting 216% of GDP, significantly outpacing Slovakia's 85.2% (ranked 29th). Luxembourg's consumer price inflation rate is relatively low at 2.1%, versus Slovakia's 2.8%. The current account balance of Luxembourg is also strong at 13.8% of GDP, while Slovakia's is negative at -2.7%, indicating a better economic health in Luxembourg.

Trade and Investment

In terms of high-technology exports, Luxembourg's rate at $801.2 million is notably lower than Slovakia's $10.1 billion, which places Slovakia in a stronger position for this indicator (rank 41). However, Luxembourg leads in total goods and services imports with 183% of GDP compared to Slovakia's 85% (ranked 3rd). The logistics performance index, which measures the quality of trade and transport-related infrastructure, shows Luxembourg ahead at 3.6 compared to Slovakia's 3.3. Both countries attract investments, but Luxembourg's robust economic indicators may provide it with a greater competitive edge.

Governance and Institutions

Luxembourg is recognized for its effective governance, illustrated by a Control of Corruption score of 1.9 (rank 11) compared to Slovakia's 0.3 (rank 62). The Government Effectiveness indicator further highlights this disparity, with Luxembourg achieving a score of 1.9 (rank 5) against Slovakia's 0.2 (rank 74). Stability is another strong point for Luxembourg, which ranks 3rd globally in Political Stability and Absence of Violence/Terrorism with a score of 1.1, while Slovakia ranks 56th. Regulatory Quality and Rule of Law also favor Luxembourg significantly, with scores of 1.9 (rank 1) and 1.8 (rank 8) versus Slovakia's 0.6 in both categories, ranking it 65th and 59th respectively.

Infrastructure and Technology

Luxembourg manifests superior technological infrastructure, highlighted by 98.8% of its population using the Internet (rank 4), compared to Slovakia's 89.8% (rank 48). The logistics performance index indicates that Luxembourg has a slight edge in the quality of trade and transport-related infrastructure. The country also has a stronger R&D expenditure as a percentage of GDP at 1% (rank 42) while Slovakia matches this at the same rate but ranks just slightly behind (rank 41).

Environment and Sustainability

In terms of renewable energy consumption, Luxembourg uses 20.5% of its total final energy from renewable sources, which outperforms Slovakia's 17.9%. Luxembourg ranks 13th in this category while Slovakia ranks 16th. However, when evaluating greenhouse gas emissions, Luxembourg has higher per capita emissions (11.8 tons CO2e) compared to Slovakia's 8.3 tons, placing Luxembourg 4th and Slovakia 34th respectively. Both countries have addressed water stress, with Luxembourg at 4% withdrawal against available resources and Slovakia at 2.4%, however, this pressure remains a critical sustainability challenge for both nations.