Spain vs Italy development indicators, 2024

Demography and Health

Spain and Italy show similar demographic trends, with Spain experiencing a slightly higher birth rate at 6.7 compared to Italy's 6.4. However, Italy has a lower death rate (11.2) than Spain (9), indicating that Spain has a relatively healthier aging population. Both countries exhibit a comparable life expectancy at birth; Spain ranks higher with 83.9 years against Italy's 83.7 years. Italy has a marginally lower under-5 mortality rate (2.8) compared to Spain (3.1), reflecting a slight advantage in child health. Both nations share a prevalence of undernourishment at 2.5%, suggesting similar food security levels. Interestingly, Spain's net migration is also higher at 111,674 individuals, compared to Italy's 95,246, demonstrating Spain's attractiveness as a destination for immigrants.

Economy

In terms of economic performance, Italy has a higher GDP per capita at $40,226 compared to Spain's $35,297. However, when adjusted for purchasing power parity (PPP), Spain has a competitive GDP per capita of $56,926 against Italy's $60,847. Spanish exports of goods and services make up a larger percentage of GDP at 37.3% compared to Italy's 32.7%. The inflation rate in Spain stands at 2.8%, significantly higher than Italy's 1%. Both countries have similar research and development expenditures as a percentage of GDP, maintaining a rate of 1.4%. Italy’s unemployment rate (7.6%) is lower than Spain's 12.2%, indicating a stronger labor market in Italy.

Trade and Investment

Spain demonstrates stronger engagement in global trade, evidenced by a higher percentage of exports of goods and services (37.3%) compared to Italy (32.7%). Both countries have low foreign direct investment (FDI) net inflows, with Spain slightly ahead at 1.9%. Their current account balance also highlights Spain's better positioning at 3% compared to Italy's 1.1%. Although Spain ranks lower on a global scale (98) than Italy (106) for exports, its competitive edge in trade can be attributed to its substantial foreign exchange reserves and increasing engagement in global markets.

Governance and Institutions

Spain performs better in governance, particularly regarding Government Effectiveness (0.8 compared to Italy's 0.6) and Rule of Law (0.8 compared to Italy's 0.4). Both countries exhibit similar scores in Control of Corruption (0.6), indicating comparable levels of perceived corruption. However, Spain ranks significantly lower in Political Stability, scoring 0.3 against Italy's 0.6, suggesting that Italy is perceived to have a more stable political environment. Spain has a higher unemployment rate, which may underscore potential friction in its governance structure.

Infrastructure and Technology

In terms of technological infrastructure, both Spain and Italy have a high rate of Internet usage, with Spain at 95.4% of the population connected compared to Italy's 87%. The Logistics Performance Index shows that both countries maintain a good level of trade and transport-related infrastructure, both scoring 3.8. Spain leads in patent applications with 1,308 compared to Italy's impressive 10,281; this suggests a more vibrant atmosphere for innovation and intellectual property in Italy. Overall, both countries show considerable strengths in various aspects of infrastructure and technology.

Environment and Sustainability

When addressing environmental issues, Spain slightly outperforms Italy in renewable energy consumption, utilizing 19% of its total final energy consumption from renewable sources compared to Italy's 17.5%. Both countries face significant water stress, with Spain withdrawing 43.3% of available freshwater resources, which is alarming compared to Italy's more sustainable practice of 29.6%. Spain's total greenhouse gas emissions are lower per capita at 5.9 t CO2e, while Italy's emissions are at 6.3 t CO2e, indicating better environmental management efforts in Spain relative to Italy.