Slovakia Slovakia vs Slovenia Slovenia development indicators, 2024

Indicator
Slovakia
Slovakia, Value
Slovenia
Slovenia, Value
Slovakia
Slovakia, Rank
Slovenia
Slovenia, Rank
Slovakia Slovakia as % of
Slovenia Slovenia
Current account balance (% of GDP) -2.75 4.46 80 25
Exports of goods and services (% of GDP) 85.2 81.5 9 12 105 %
Foreign direct investment, net inflows (% of GDP) 2.53 2.69 46 44 93.8 %
GDP per capita (current US$) 26,148 34,089 46 36 76.7 %
GDP per capita, PPP (current international US$) 47,181 56,531 49 34 83.5 %
Imports of goods and services (% of GDP) 85 74.9 11 16 113 %
Inflation, consumer prices (annual %) 2.76 1.97 92 115 140 %
Net migration -21,027 3,319 170 60
Population, total 5,422,069 2,126,324 119 148 255 %

Demography and Health

Slovakia and Slovenia exhibit notable differences in demographic attributes and health metrics. As of 2023, Slovakia has a crude birth rate of 9 per 1,000 people compared to Slovenia's 8, positioning them at ranks 40 and 64, respectively. The crude death rate in both countries is quite similar, with Slovakia at 10 and Slovenia at 10.2. Life expectancy in Slovakia is 78 years, lower than Slovenia's impressive 82 years, indicating better health conditions and longer lifespan in Slovenia. Child healthcare is another area of concern; Slovakia's under-five mortality rate is 6.1 per 1,000 live births, which is significantly higher than Slovenia's 2.2. Slovakia also faces challenges with a net migration rate of -21,027, indicating a net emigration, while Slovenia has a positive net migration of 3,319.

Economy

In terms of economic indicators, Slovakia's GDP per capita stands at 26,148 USD, which is considerably below Slovenia's 34,089 USD, reflecting a higher standard of living in Slovenia. When considering GDP per capita adjusted for purchasing power parity (PPP), Slovakia is at 47,181 international USD, whereas Slovenia achieves 56,531 international USD. Slovakia's exports of goods and services make up 85.2% of its GDP, surpassing Slovenia's 81.5%, indicating a more export-oriented economy. On the inflation front, Slovakia has a consumer price inflation rate of 2.8%, while Slovenia's is lower at 2%. Lastly, the unemployment rate in Slovakia is 5.8%, comparatively higher than Slovenia's 3.7%, illustrating relative stability in the Slovene job market.

Trade and Investment

Both countries invest significantly in foreign direct investments (FDI), with Slovakia's net FDI inflows at 2.5% of GDP and Slovenia slightly higher at 2.7%. Slovakia, with a current account balance of -2.7% of GDP, faces a deficit in its balance of payments, contrasting with Slovenia's healthy balance at 4.5%. Slovakia leads slightly in exports as a percentage of GDP, emphasizing its reliance on international markets, whereas Slovenia's trade encompasses more balanced economic activities. High-technology exports reveal another interesting feature, with Slovakia at 10.1 billion USD while Slovenia lags at 4.2 billion USD, reflecting stronger technological contributions from Slovakia.

Governance and Institutions

Examining governance, Slovakia faces challenges demonstrating effectiveness and control over corruption; it has rankings of 0.2 and 0.3 respectively in Government Effectiveness and Control of Corruption, which are considerably lower than Slovenia's rankings of 1.0 and 0.8, indicating more robust governing institutions. The political stability ranked at 0.6 for Slovakia suggests moderate stability compared to Slovenia's 0.8, which reflects a more stable political environment. Furthermore, Slovenia performs better regarding the rule of law (1.0) than Slovakia (0.6), which suggests a more sound judicial system and enforcement of laws.

Infrastructure and Technology

Infrastructure is a critical aspect for both countries, with Slovakia scoring 3.3 and Slovenia slightly ahead at 3.6 on the Logistics Performance Index, indicating relatively high quality in trade and transport-related infrastructure. Both nations invest in research and development (R&D), but Slovenia outperforms with 2.1% of GDP spent on R&D compared to Slovakia's 1%. Patent applications also favor Slovenia, where 222 applications were filed by residents versus Slovakia's 146. This suggests a more innovative environment in Slovenia, which can contribute to economic advancement.

Environment and Sustainability

In terms of environmental sustainability, Slovakia's renewable energy consumption sits at 17.9% of total energy usage, trailing behind Slovenia's 23.4%. This indicates that Slovenia is investing more heavily in sustainable energy sources. Slovakia shows a better performance relating to water stress, having a withdrawal proportion of 2.4% compared to Slovenia's 6.3%, indicating more efficient management of freshwater resources. However, Slovakia's greenhouse gas emissions per capita are at 8.3 tons, posing a significant environmental challenge compared to Slovenia’s 7.5 tons, although both nations still need to address climate change effectively.