Romania Romania vs Sweden Sweden development indicators, 2024

Indicator
Romania
Romania, Value
Sweden
Sweden, Value
Romania
Romania, Rank
Sweden
Sweden, Rank
Romania Romania as % of
Sweden Sweden
Current account balance (% of GDP) -8.36 7.42 99 13
Exports of goods and services (% of GDP) 35.6 54.6 70 34 65.2 %
Foreign direct investment, net inflows (% of GDP) 1.92 4.37 57 22 43.9 %
GDP per capita (current US$) 20,072 57,723 57 14 34.8 %
GDP per capita, PPP (current international US$) 48,712 71,030 45 23 68.6 %
Imports of goods and services (% of GDP) 41.7 50.2 67 56 83 %
Inflation, consumer prices (annual %) 5.72 2.84 35 88 202 %
Net migration -28,466 50,115 182 24
Population, total 19,069,340 10,569,709 66 92 180 %

Demography and Health

In terms of demography, Romania has a crude birth rate of 8 per 1,000 people, while Sweden's is slightly higher at 9.5. Conversely, the death rate in Romania stands at 12.7 per 1,000 people compared to Sweden's 9 per 1,000 people, indicating a higher mortality rate in Romania. Furthermore, life expectancy in Romania is 76.6 years, notably lower than Sweden's impressive 83.3 years. The mortality rate for children under five is also concerning in Romania at 6.6 per 1,000 live births compared to Sweden’s lower rate of 2.5. Romania contends with a significant net migration loss of 28,466 individuals, while Sweden experiences a substantial net migration gain of 50,115. The prevalence of undernourishment is equal at 2.5% for both countries. These figures suggest that Romania faces significant health challenges and demographic pressures that contrast sharply with Sweden's more favorable indicators.

Economy

When comparing GDP per capita, Romania's value is $20,072 compared to Sweden's much higher $57,723. In terms of GDP per capita adjusted for purchasing power parity (PPP), Romania's figure stands at $48,712, again, significantly lower than Sweden's $71,030. The exports of goods and services as a percentage of GDP reflect Romania at 35.6%, while Sweden's robust economy has it at 54.6%. Meanwhile, Romania's inflation rate of 5.7% is considerably higher than Sweden's 2.8%. The foreign direct investment inflows into Romania account for only 1.9% of GDP, compared to a more favorable 4.4% in Sweden. Romania's current account balance is alarming at -8.4%, while Sweden enjoys a positive balance at 7.4%. These statistics reveal that Sweden has a more dynamic and stable economy, underscored by higher GDP figures and more favorable trade conditions.

Trade and Investment

Romania’s high-technology exports are valued at $9.7 billion, while Sweden leads with $25.2 billion. This disparity highlights Sweden’s advancement in innovation and technology-driven sectors. The imports of goods and services as a percentage of GDP reveal Romania at 41.7% and Sweden at 50.2%. While both countries have high import rates, Sweden’s economy is structured to benefit from larger trade volumes. The domestic general government health expenditure per capita reflects that Romania spends $1,920 compared to Sweden's $6,178, indicating greater investment in healthcare per citizen in Sweden. This pattern is consistent with Sweden's robust economic framework, which encourages higher levels of FDI and health care investment.

Governance and Institutions

In governance, Romania's rankings in critical areas are notably lower. The Control of Corruption index for Romania is at 0 compared to Sweden’s strong score of 2. Similarly, the Government Effectiveness score is -0.1 for Romania, whereas Sweden excels with a score of 1.6. This significant gap in governance effectiveness suggests that Swedish institutions operate more efficiently and transparently. In terms of political stability, Romania scores 0.4 while Sweden achieves a higher score of 0.8, indicating greater stability in Sweden. The Rule of Law index is also better in Sweden (1.6) compared to Romania (0.4), reflecting Sweden's strong legal and institutional framework.

Infrastructure and Technology

Examining infrastructure quality, Romania has a logistics performance index of 2.9, while Sweden boasts a high score of 4.2, indicating better trade and transport-related infrastructure in Sweden. Additionally, the percentage of individuals using the Internet is very high in Romania at 89.2%, though it still lags behind Sweden’s 95.7%. This illustrates a discrepancy in technological adoption, with Sweden leading in both infrastructure and digital connectivity, critical for fostering a competitive economy.

Environment and Sustainability

Regarding environmental metrics, Romania's renewable energy consumption stands at 23.6%, significantly lower than Sweden's impressive 57.9%. This gulf suggests that Sweden is far more committed to sustainable energy practices. Romania's total greenhouse gas emissions excluding land use change average 5.6 tons CO2e per capita, higher than Sweden's 4.7 tons. Furthermore, Romania faces a level of water stress with 7.4% of freshwater resources being withdrawn, compared to Sweden's much lower level of 3.6%. Although Romania has made strides in addressing sustainability, it still faces challenges that Sweden has effectively managed, reflecting broader commitments to environmental stewardship.