Romania vs Slovakia development indicators, 2024

Demography and Health

In terms of demographic indicators, Romania has a crude birth rate of 8 per 1,000 people, slightly lower than Slovakia's 9. The crude death rate is higher in Romania at 12.7 compared to Slovakia’s 10, indicating a greater challenge in population sustainability. Life expectancy at birth in Romania is 76.6 years, which is lower than Slovakia's 78 years, suggesting better health outcomes in Slovakia. Mortality rates for under-five children are slightly higher in Romania at 6.6 per 1,000 live births as opposed to Slovakia's 6.1, showing a similar trend in child health. Additionally, the prevalence of undernourishment stands at 2.5% in Romania, while Slovakia reports 3.6%, indicating better food security in Romania. The number of physicians per 1,000 people is comparable, with Romania having 3.5 and Slovakia 3.7 in 2021. However, health expenditures are higher in Slovakia, which spends 7.7% of GDP on health compared to Romania's 5.7%, indicating a stronger investment in healthcare.

Economy

When comparing economic performance, Slovakia outperforms Romania in GDP per capita, reporting $26,148 against Romania's $20,072 in 2024. However, when adjusted for purchasing power parity (PPP), Romania leads with a GDP per capita of $48,712 compared to Slovakia's $47,181. Notably, the exports of goods and services constitute a staggering 85.2% of Slovakia's GDP compared to Romania's 35.6%, showcasing Slovakia's economic reliance on foreign markets. In contrast, Romania has a higher consumer price inflation rate of 5.7% against Slovakia’s 2.8%, which may impact economic stability. The current account balance also reflects a discrepancy, with Romania at -8.4% of GDP compared to Slovakia's -2.7%, hinting at greater economic vulnerability. Foreign direct investment shows Slovakia leading with a net inflow of 2.5% of GDP compared to Romania’s 1.9%, indicating a more attractive investment environment in Slovakia.

Trade and Investment

Trade dynamics reveal that Slovakia significantly relies on exports, with exports constituting a remarkable 85.2% of its GDP, while Romania's dependence is less pronounced at 35.6%. This indicates that Slovakia has developed a strong position in international trade. Moreover, imports also reveal significant reliance, with Slovakia's 85% of GDP vastly outpacing Romania’s 41.7%. This suggests a vibrant trade ecosystem in Slovakia that may provide stability through diversified markets. High-technology exports are slightly higher in Slovakia at $10.1 billion compared to Romania at $9.7 billion, hinting at a competitive technological sector in Slovakia. Additionally, patent applications show Romania leading with 772 in 2021 against Slovakia's 146, implying a robust domestic innovation landscape.

Governance and Institutions

In terms of governance, both countries face challenges, but Slovakia shows a more favorable environment in various metrics. The control of corruption index is at 0 for Romania, while Slovakia has a score of 0.3, suggesting better governance standards. Further, Slovakia’s government effectiveness is rated at 0.2, compared to Romania's -0.1. Both nations experience violence and terrorism issues, but Slovakia exhibits a relatively higher political stability rating at 0.6 against Romania’s 0.4. The regulatory quality index reinforces this trend, with Slovakia scoring 0.6 compared to Romania's 0.3, indicating a more efficient regulatory environment in Slovakia. Both countries maintain similar unemployment rates, with Romania slightly lower at 5.6% against Slovakia's 5.8%.

Infrastructure and Technology

Infrastructure quality is a critical factor for economic development, and here, Slovakia has an edge with a logistics performance index of 3.3 compared to Romania's 2.9. This higher score suggests better trade and transport-related infrastructure in Slovakia, facilitating smoother business operations. Investment in research and development, however, shows a comparative disparity with Slovakia spending 1% of GDP compared to Romania’s 0.5%. This underinvestment in R&D could potentially hinder Romania's long-term competitiveness.

Environment and Sustainability

On the environmental front, Romania leads in renewable energy consumption, accounting for 23.6% of total final energy consumption, contrasting with Slovakia's 17.9%. This position indicates Romania's stronger commitment to sustainability in energy use. However, total greenhouse gas emissions per capita reveal a concern, with Romania emitting 5.6 tons of CO2e per capita compared to Slovakia's higher 8.3 tons, suggesting that Slovakia is contributing more to pollution on a per capita basis. Furthermore, water stress shows differing management strategies, with Romania's freshwater withdrawal at 7.4% of available resources versus 2.4% in Slovakia, indicating a more efficient management approach to water resources in Slovakia.