Luxembourg Luxembourg vs Sweden Sweden development indicators, 2024

Indicator
Luxembourg
Luxembourg, Value
Sweden
Sweden, Value
Luxembourg
Luxembourg, Rank
Sweden
Sweden, Rank
Luxembourg Luxembourg as % of
Sweden Sweden
Current account balance (% of GDP) 13.8 7.42 7 13 186 %
Exports of goods and services (% of GDP) 216 54.6 1 34 395 %
GDP per capita (current US$) 137,517 57,723 2 14 238 %
GDP per capita, PPP (current international US$) 150,772 71,030 1 23 212 %
Imports of goods and services (% of GDP) 183 50.2 1 56 364 %
Inflation, consumer prices (annual %) 2.05 2.84 112 88 72.3 %
Net migration 5,677 50,115 53 24 11.3 %
Population, total 677,717 10,569,709 167 92 6.41 %

Demography and Health

Both Luxembourg and Sweden have a similar crude birth rate, standing at 9.5 per 1,000 people. However, Luxembourg boasts a lower death rate (6.6) compared to Sweden (9.0), placing Luxembourg 80th and Sweden 66th in worldwide rankings. The life expectancy at birth is quite comparable, with Luxembourg at 83.4 years and Sweden at 83.3 years, reflecting a high standard of health in both countries. The under-5 mortality rate in Luxembourg is 2.3 per 1,000 live births, marginally better than Sweden's 2.5, indicating effective child health services in both nations. Net migration rates indicate a contrast, with Luxembourg receiving 5,677 migrants compared to Sweden's substantial 50,115, suggesting that Sweden is a more significant destination for immigrants.

Economy

Luxembourg's economy is characterized by its remarkably high GDP per capita, reaching $137,517 in 2024, the highest in the world, which is significantly higher than Sweden's GDP per capita of $57,723 (ranked 18th). When considering GDP per capita based on purchasing power parity (PPP), Luxembourg continues to lead with $150,772 against Sweden's $71,030, reaffirming its economic strength. Despite a smaller population, Luxembourg's economic output is impressive, but Sweden's diversified economy is robust, demonstrated by a current account balance of 7.4% of GDP compared to Luxembourg's outstanding 13.8%. Inflation in Luxembourg is lower at 2.1% compared to Sweden's 2.8%, indicating a slight advantage in price stability in Luxembourg.

Trade and Investment

Luxembourg has a remarkably high percentage of exports of goods and services relative to its GDP at 216%, dominating Sweden's 54.6% (ranked 70th). Conversely, imports as a percentage of GDP show Luxembourg at 183% against Sweden's 50.2%, which indicates a highly interconnected economic structure. Luxembourg's focus on high-technology exports is reflected in its value of $801.2 million, significantly overshadowed by Sweden's $25.2 billion. This disparity suggests that Sweden has a more considerable foothold in high-tech sectors, ranking 28th globally compared to Luxembourg's rank of 79th for high-tech exports.

Governance and Institutions

In terms of governance, both countries score well, with Luxembourg showing strong performance in several governance indicators. Luxembourg holds a rank of 11 in control of corruption, marginally trailing Sweden, which ranks 9th. Government effectiveness ranks Luxembourg 5th globally, compared to Sweden's 13th. Regulatory quality sees Luxembourg in the top position at 1, while Sweden is ranked 14th. However, there is a noticeable contrast regarding political stability; Luxembourg ranks 3rd, indicating lower risks associated with violence and terrorism, whereas Sweden is positioned 27th, suggesting potential governance challenges. The rule of law is also stronger in Luxembourg (ranked 8) than in Sweden (ranked 19).

Infrastructure and Technology

Luxembourg fares decently in logistics performance, with a score of 3.6 on a scale of 1 to 5, but Sweden excels with a score of 4.2, highlighting its superior trade and transport-related infrastructure. In terms of research and development expenditure as a percentage of GDP, Luxembourg invests 1%, significantly lower than Sweden, which invests 3.4%—a crucial factor for technological advancement and innovation. Furthermore, the number of patent applications by residents illustrates Sweden's innovative capabilities, with 1,771 applications compared to Luxembourg's 112.

Environment and Sustainability

Luxembourg's renewable energy consumption is at 20.5%, while Sweden leads impressively with 57.9%, showcasing Sweden's commitment to sustainable energy practices. The country's environmental performance is also reflected in greenhouse gas emissions, where Luxembourg emits 11.8 tons of CO2e per capita, compared to Sweden's 4.7 tons, indicating a more significant environmental burden in Luxembourg. Water stress levels are similar, with Luxembourg at 4% compared to Sweden's 3.6%, suggesting both countries need to manage water resources effectively. However, it is evident that Sweden is more aligned with sustainability goals and practices.