Romania Romania vs Slovenia Slovenia development indicators, 2024

Indicator
Romania
Romania, Value
Slovenia
Slovenia, Value
Romania
Romania, Rank
Slovenia
Slovenia, Rank
Romania Romania as % of
Slovenia Slovenia
Current account balance (% of GDP) -8.36 4.46 99 25
Exports of goods and services (% of GDP) 35.6 81.5 70 12 43.7 %
Foreign direct investment, net inflows (% of GDP) 1.92 2.69 57 44 71.3 %
GDP per capita (current US$) 20,072 34,089 57 36 58.9 %
GDP per capita, PPP (current international US$) 48,712 56,531 45 34 86.2 %
Imports of goods and services (% of GDP) 41.7 74.9 67 16 55.6 %
Inflation, consumer prices (annual %) 5.72 1.97 35 115 291 %
Net migration -28,466 3,319 182 60
Population, total 19,069,340 2,126,324 66 148 897 %

Demography and Health

Both Romania and Slovenia have a crude birth rate of 8 per 1,000 people as of 2023. However, Romania experiences a higher crude death rate of 12.7 compared to Slovenia's 10.2. This indicates greater demographic challenges for Romania, particularly in terms of population sustainability. In terms of health, life expectancy in Romania stands at 76.6 years, significantly lower than Slovenia's 82 years, reflecting differences in healthcare access and quality. Additionally, the under-five mortality rate is notably higher in Romania at 6.6 per 1,000 live births, while Slovenia's rate is a mere 2.2, pointing to disparities in maternal and child healthcare services. The prevalence of undernourishment is identical at 2.5% for both countries, indicating a similar level of food security.

Economy

Romania's GDP per capita is estimated at $20,072 in 2024, markedly lower than Slovenia’s $34,089, suggesting a more modest economic development level. When adjusted for purchasing power parity (PPP), Romania's GDP per capita is $48,712 compared to Slovenia's $56,531, further highlighting Slovenia's stronger economic performance. In terms of exports, Romania's share of goods and services as a percentage of GDP is 35.6%, drastically lower than Slovenia's 81.5%. This suggests that Slovenia is more integrated into global markets, possibly due to more competitive industries or innovation. Inflation is a pressing issue in Romania at 5.7% versus just 2% in Slovenia, indicating significant economic pressures in Romania.

Trade and Investment

Slovenia has a net inflow of foreign direct investment (FDI) of 2.7% of GDP, compared to Romania's 1.9% in 2024, pointing to Slovenia as a more attractive destination for investors. In terms of trade balance, Romania has a current account deficit of 8.4%, contrasting with Slovenia’s surplus of 4.5%. This discrepancy indicates that Romania faces significant challenges in managing its foreign trade effectively. Furthermore, high-technology exports for Romania stand at $9.7 billion, which is notably higher compared to Slovenia's $4.2 billion. However, considering the size of both economies, Slovenia's higher export percentage underscores its efficiency in leveraging trade.

Governance and Institutions

There are notable differences in governance quality between the two countries. Romania's government effectiveness score is -0.1, indicating inefficiencies in bureaucracy and public service delivery, while Slovenia’s score is a healthier 1. This is reflected in the Control of Corruption index where Romania scores 0 while Slovenia scores 0.8, suggesting much more effective corruption control in Slovenia. Furthermore, Romania ranks lower in political stability and absence of violence/terrorism at 0.4 compared to Slovenia's 0.8. Rule of Law and Regulatory Quality metrics further highlight Slovenia's strength in maintaining effective institutions for economic and social governance.

Infrastructure and Technology

In terms of logistics performance, Slovenia scores higher at 3.6 out of 5 compared to Romania's 2.9, indicating superior infrastructure quality related to trade and transportation. The percentage of individuals using the Internet is quite high in both countries, with Romania at 89.2% and Slovenia at 90.4%, suggesting that both nations are well-positioned in terms of reaching a digitally adept society. However, the disparity in research and development expenditure as a percentage of GDP, at 0.5% for Romania versus 2.1% for Slovenia, raises concerns about long-term innovation potential and competitiveness.

Environment and Sustainability

Both countries have similar rates of renewable energy consumption, with Romania at 23.6% and Slovenia at 23.4%, indicating a commitment to sustainable energy practices. Concerning greenhouse gas emissions, Romania has a per capita emission of 5.6 tons, which is lower than Slovenia's 7.5 tons, potentially due to Slovenia’s higher level of industrial activity. Water stress levels are also noteworthy; Romania's freshwater withdrawal rate is 7.4% of available resources compared to Slovenia's 6.3%. This suggests that while both nations face challenges regarding water management, Romania might be under more pressure in this domain, which could hinder its sustainable development efforts.