Spain Spain vs Greece Greece development indicators, 2024

Indicator
Spain
Spain, Value
Greece
Greece, Value
Spain
Spain, Rank
Greece
Greece, Rank
Spain Spain as % of
Greece Greece
Current account balance (% of GDP) 3.03 -6.38 32 95
Exports of goods and services (% of GDP) 37.3 42 66 54 88.8 %
Foreign direct investment, net inflows (% of GDP) 1.89 2.51 58 47 75.3 %
GDP per capita (current US$) 35,297 24,752 34 49 143 %
GDP per capita, PPP (current international US$) 56,926 44,074 32 50 129 %
Imports of goods and services (% of GDP) 33 47.3 87 59 69.7 %
Inflation, consumer prices (annual %) 2.77 2.74 90 93 101 %
Net migration 111,674 -122,772 18 202
Population, total 48,807,137 10,388,805 32 93 470 %

Demography and Health

Spain and Greece have similar birth rates, with Spain at 6.7 and Greece slightly higher at 6.8 per 1,000 people. However, Greece's death rate is significantly higher at 12.2 compared to Spain's 9, indicating differing public health challenges. Life expectancy at birth is higher in Spain at 83.9 years compared to Greece's 81.5 years, demonstrating a more robust healthcare system. The under-5 mortality rate is lower in Spain (3.1) than in Greece (3.7), reflecting better healthcare access for children. Spain's net migration is positive at 111,674, while Greece experiences negative migration at -122,772, suggesting that Spain is attracting more residents, possibly due to better living conditions.

Economy

In terms of economic indicators, Spain boasts a GDP per capita of $35,297, compared to Greece's $24,752. When adjusted for purchasing power parity (PPP), Spain's GDP per capita rises further to $56,926, while Greece's is $44,074. This difference reflects a generally stronger economy in Spain. Both countries face challenges with trade; Spain's exports account for 37.3% of GDP, slightly lower than Greece's 42%, but Spain's imports at 33% are also less than Greece's 47.3%, suggesting a more balanced trade situation overall. The inflation rates are relatively close, with Spain at 2.8% and Greece at 2.7%, indicating a stable economic environment in both nations.

Trade and Investment

Spain has a lower foreign direct investment (FDI) net inflow at 1.9% of GDP compared to Greece's 2.5%. This could indicate that Greece is drawing more foreign investments despite its economic challenges. Spain's current account balance is positive at 3%, while Greece's is negative at -6.4%, revealing that Spain is performing better economically in terms of trade balances. The logistics performance index, which measures the quality of infrastructure related to trade and transport, shows Spain slightly ahead at 3.8 compared to Greece's 3.7, indicating marginally better logistics operations in Spain.

Governance and Institutions

Governance metrics show significant differences between the two nations. Spain ranks higher in key governance areas—control of corruption (0.6 vs. 0.1), government effectiveness (0.8 vs. 0.1), and rule of law (0.8 vs. 0.2), suggesting stronger institutions in Spain. Both countries experience political challenges, with political stability ratings of 0.3 for Spain and 0.2 for Greece, indicating Spain's slightly better standing despite ongoing issues. Regulatory quality is also marginally higher in Spain (0.7) compared to Greece (0.6).

Infrastructure and Technology

Spain shows higher levels of internet usage, with 95.4% of the population connected, compared to Greece's 85%. This indicates a more advanced technological framework in Spain. The logistics performance index also reflects this strength, positioning Spain at 3.8 and Greece at 3.7. Spain's emphasis on research and development is underscored by its 1.4% of GDP allocated towards R&D expenditures, compared to Greece's 1.5%. This investment in technology and innovation hints at a strategic direction that may benefit Spain's economy in the long term.

Environment and Sustainability

Environmental metrics indicate that Greece has a slightly higher renewable energy consumption rate at 21.5% compared to Spain's 19%. Nonetheless, Spain has better water resource management with 43.3% of freshwater resources stressed, whereas Greece's level of stress is much lower at 20.7%. Emission levels present a more alarming statistic where Spain's greenhouse gas emissions per capita stand at 5.9 tons, while Greece's is slightly higher at 6.7 tons. Both nations face challenges regarding sustainability, but Spain's investments and policies may put it in a better position to address these issues over time.