Spain Spain vs Hungary Hungary development indicators, 2024

Indicator
Spain
Spain, Value
Hungary
Hungary, Value
Spain
Spain, Rank
Hungary
Hungary, Rank
Spain Spain as % of
Hungary Hungary
Current account balance (% of GDP) 3.03 2.28 32 37 133 %
Exports of goods and services (% of GDP) 37.3 74.7 66 17 49.9 %
Foreign direct investment, net inflows (% of GDP) 1.89 -14.7 58 107
GDP per capita (current US$) 35,297 23,311 34 54 151 %
GDP per capita, PPP (current international US$) 56,926 47,636 32 47 120 %
Imports of goods and services (% of GDP) 33 69.1 87 23 47.8 %
Inflation, consumer prices (annual %) 2.77 3.7 90 58 74.9 %
Net migration 111,674 16,223 18 41 688 %
Population, total 48,807,137 9,562,314 32 96 510 %

Demography and Health

The demographic landscape in Spain and Hungary reflects significant differences, particularly in life expectancy and population statistics. As of 2024, Spain's total population stands at approximately 48.8 million, markedly larger than Hungary's population of 9.6 million. Spain boasts a remarkable life expectancy at birth of 83.9 years, ranking it first globally, while Hungary's life expectancy is lower at 76.8 years, placing it 65th. Additionally, Spain has a lower crude birth rate of 6.7 per 1,000 people compared to Hungary's 9.1, which ranks 38th. When it comes to health metrics, Hungary has a higher crude death rate (13.4) than Spain (9), indicating higher mortality challenges. In terms of healthcare infrastructure, Spain has 2.9 hospital beds per 1,000 people, whereas Hungary leads with 6.8 beds. The under-5 mortality rate is also indicative of Spain's advanced health sector, with only 3.1 deaths per 1,000 live births compared to Hungary's 3.8. However, both countries have a similar prevalence of undernourishment at 2.5% of the population.

Economy

Spain's economy, with a GDP per capita of $35,297, is healthier compared to Hungary's GDP per capita of $23,311 as of 2024. Despite this, when adjusted for purchasing power parity (PPP), Spain also outperforms Hungary with $56,926 compared to $47,636. Inflation rates favor Spain, which has an annual consumer price inflation of 2.8% against Hungary's 3.7%. The unemployment rate in Spain is notably high at 12.2%, whereas Hungary enjoys a significantly lower unemployment rate of 4.1%, showcasing a more favorable labor market. Furthermore, Spain's government expenditure on health care ($3,535 per capita) surpasses Hungary's ($2,103), indicating a stronger investment in public health.

Trade and Investment

In terms of trade, Hungary's export economy significantly outpaces Spain's in relation to GDP, with exports constituting 74.7% of Hungary's GDP compared to Spain's 37.3%. However, Spain's imports (33% of GDP) are less than Hungary's (69.1%), reflecting a more balanced trade environment for Spain. Foreign direct investment inflows present a contrasting scenario; Spain has a positive FDI net inflow of 1.9% of GDP, while Hungary suffers a negative FDI of -14.7%, indicating challenges in attracting foreign investment. Interestingly, Hungary's high technology exports are competitive, with $24.4 billion against Spain's $25.8 billion, reflecting the presence of technology-driven industries in both countries.

Governance and Institutions

Governance indicators depict Spain as generally superior in terms of government effectiveness (0.8) and regulatory quality (0.7) compared to Hungary, which scores 0.4 and 0.3, respectively. The control of corruption also points to issues in Hungary with a score of -0, while Spain has a control of corruption score of 0.6. Political stability presents another stark contrast; Hungary's score of 0.7 indicates a more stable landscape, whereas Spain faces greater political challenges with a score of 0.3. The rule of law in Spain (0.8) also exceeds that of Hungary (0.4), reflecting stronger legal structures and enforcement in Spain.

Infrastructure and Technology

Infrastructure quality demonstrates that Spain has made significant strides, achieving a logistics performance index rating of 3.8, which is higher than Hungary's 3.1. This performance in trade and transport-related infrastructure suggests that Spain manages its trade routes and logistics capabilities more effectively. In terms of human capital, Spain surpasses Hungary in patent applications per capita (1308 versus 433), indicating stronger innovation and technology development faculties in Spain.

Environment and Sustainability

When analyzing environmental sustainability, both nations are actively consuming renewable energy, but Spain leads with 19% of total energy consumption coming from renewable sources, compared to Hungary's 15.3%. As of 2021, Spain experiences a significant level of water stress, with 43.3% of available freshwater resources being withdrawn, while Hungary manages a much lower water stress rate of 8.1%. Furthermore, Spain's total greenhouse gas emissions per capita stands at 5.9 t CO2e, less than Hungary's 6.4 t CO2e, indicating a slightly better environmental performance in mitigating climate impact.