Slovakia vs Sweden development indicators, 2024

Indicator	Slovakia, Value	Sweden, Value	Slovakia, Rank	Sweden, Rank	Slovakia as % of Sweden
Current account balance (% of GDP)	-2.75	7.42	80	13
Exports of goods and services (% of GDP)	85.2	54.6	9	34	156 %
Foreign direct investment, net inflows (% of GDP)	2.53	4.37	46	22	57.7 %
GDP per capita (current US$)	26,148	57,723	46	14	45.3 %
GDP per capita, PPP (current international US$)	47,181	71,030	49	23	66.4 %
Imports of goods and services (% of GDP)	85	50.2	11	56	169 %
Inflation, consumer prices (annual %)	2.76	2.84	92	88	97.2 %
Net migration	-21,027	50,115	170	24
Population, total	5,422,069	10,569,709	119	92	51.3 %

Demography and Health

The demographic indicators for Slovakia and Sweden show notable differences in health and population dynamics. As of 2023, Slovakia has a crude birth rate of 9 per 1,000 people, while Sweden has a slightly higher rate of 9.5, ranking 40th and 28th respectively. In terms of death rates, Slovakia’s rate stands at 10 per 1,000, compared to Sweden's 9, with Slovakia ranking 51st and Sweden 66th. Life expectancy at birth is another significant indicator, with Slovakia at 78 years, which lags behind Sweden's impressive 83.3 years, ranking 57th and 5th respectively. Furthermore, Slovakia experiences a higher under-5 mortality rate of 6.1 per 1,000 live births compared to Sweden's 2.5, ranking 6th and 67th. The net migration in Slovakia is negative at -21,027, contrasting sharply with Sweden's positive net migration of 50,115, indicating more favorable immigration trends in Sweden.

Economy

Economically, Slovakia has a GDP per capita (current US$) of $26,148, significantly lower than Sweden's $57,723, placing Slovakia 73rd and Sweden 18th globally. When adjusted for purchasing power parity (PPP), Slovakia's GDP per capita is $47,181, compared to Sweden's $71,030. In terms of inflation, both countries share an equal consumer price inflation rate of 2.8% in 2024, but Slovakia's dependence on exports is evident with 85.2% of GDP coming from exports of goods and services, significantly higher than Sweden's 54.6%. Slovakia also has a lower foreign direct investment (FDI) net inflows % of GDP at 2.5%, compared to Sweden at 4.4%. Current account balance reflects economic stability, where Slovakia has a deficit of -2.7% of GDP, while Sweden enjoys a surplus of 7.4%.

Trade and Investment

When examining trade, it's clear that Slovakia's economy is heavily export-oriented with 85.2% of GDP, ranked 29th globally, in contrast to Sweden's 54.6% which ranks 70th. This might suggest a vulnerability in Slovakia's economy, making it more sensitive to global market fluctuations. Additionally, Slovakia’s level of high-technology exports stands at $10.1 billion, compared to Sweden’s $25.2 billion, overall placing Slovakia in 41st and Sweden in 28th ranks. The logistics performance index, which evaluates the quality of trade and transport-related infrastructure, indicates that Slovakia's performance is respectable at 3.3, ranked 20th while Sweden outperforms with a score of 4.2, placing it 2nd in the world.

Governance and Institutions

Governance indicators show that Slovakia largely trails Sweden across various metrics. In control of corruption, Slovakia scores 0.3, significantly lower than Sweden's score of 2, indicating higher perceived corruption in Slovakia. Similarly, in government effectiveness, Slovakia scores 0.2 against Sweden's 1.6, reflecting inefficiencies in governance systems. Legal frameworks are also stronger in Sweden, with a Rule of Law score of 1.6 compared to Slovakia's score of 0.6. Furthermore, both countries face challenges in political stability, but Sweden’s score of 0.8 places it above Slovakia's 0.6, suggesting a generally more stable political environment in Sweden.

Infrastructure and Technology

In terms of infrastructure, Sweden demonstrates superior logistics performance with a score of 4.2, compared to Slovakia’s 3.3. This suggests that Sweden possesses more robust trade and transport-related infrastructure, which is critical for economic growth and competitiveness. In research and development expenditure as a percentage of GDP, Sweden significantly outperforms at 3.4% compared to Slovakia's 1%, highlighting a stronger commitment to innovation and technological advancement in Sweden, which can support higher productivity and growth rates in the future. Additionally, the number of patent applications per resident reveals substantial differences, where Slovakia only registered 146 patents in 2021, whereas Sweden filed 1,771, indicating a stronger emphasis on technological development and intellectual property protection in Sweden.

Environment and Sustainability

On the sustainability front, Slovakia lags behind in renewable energy consumption, with only 17.9% of its total energy consumption coming from renewable sources compared to Sweden at 57.9%. Sweden ranks remarkably high for its commitment to sustainability, reflecting in its low total greenhouse gas emissions per capita at 4.7 tons CO2e, while Slovakia’s emissions are noticeably higher at 8.3 tons CO2e. Furthermore, the prevalence of undernourishment is lower in Sweden at 2.5% of the population compared to Slovakia at 3.6%, indicating better food security and nutritional standards in Sweden. Lastly, water stress is slightly higher in Slovakia at 2.4% of freshwater withdrawal as opposed to 3.6% in Sweden, suggesting both countries need to address their water resource management.