Spain vs Romania development indicators, 2024

Demography and Health

In terms of demography, Spain has a total population of approximately 48.8 million, significantly larger than Romania's 19.1 million. The birth rate in Spain is lower at 6.7 per 1,000 people compared to Romania's 8 per 1,000 people, while the death rate in Spain is also lower, at 9 per 1,000 compared to Romania's 12.7. Life expectancy is notably higher in Spain at 83.9 years versus 76.6 years in Romania. When considering child mortality, Spain shows a healthier indicator with a mortality rate of 3.1 under-5 deaths per 1,000 live births compared to Romania's 6.6. Moreover, Spain enjoys a net positive migration rate of 111,674, in stark contrast to Romania, which experiences a net outflow of -28,466.

Economy

Spain's economy outshines Romania in key economic indicators, boasting a GDP per capita of $35,297 compared to Romania's $20,072. In terms of purchasing power parity, Spain also leads with a GDP per capita, PPP of $56,926 against Romania's $48,712. Spain has a lower inflation rate of 2.8% compared to Romania's 5.7%. However, both countries have similar foreign direct investment inflows at 1.9% of GDP. The total trade performance is illustrated by exports of goods and services as a percentage of GDP, with Spain at 37.3% and Romania at 35.6%, indicating a competitive external economic engagement.

Trade and Investment

Trade performance metrics reflect a relatively balanced engagement for both nations. Spain's exports of high-technology goods amount to $25.8 billion while Romania's reach $9.7 billion, demonstrating Spain's advanced industrial capabilities. However, Spain faces slightly higher import pressures at 33% of GDP compared to Romania’s 41.7%, which may indicate a reliance on foreign goods. Despite similar foreign direct investment inflows, Spain's current account balance shows a surplus of 3%, contrasting with Romania's deficit of -8.4%, a point of concern for Romania's economic stability.

Governance and Institutions

In terms of governance, Spain generally ranks higher in key indicators of government effectiveness, control of corruption, regulatory quality, and rule of law. Spain enjoys a control of corruption score of 0.6 versus Romania's 0. The effectiveness of government is also notable with Spain at 0.8 while Romania trails at -0.1. Furthermore, Spain ranks higher in political stability and absence of violence/terrorism with a score of 0.3 compared to Romania's 0.4, indicating a more stable environment for citizens and investors alike. However, Spain faces a higher unemployment rate at 12.2% versus Romania's lower 5.6%.

Infrastructure and Technology

Spain performs better in logistics and technology indicators overall. The logistics performance index gives Spain a score of 3.8, surpassing Romania’s 2.9, suggesting superior trade and transport-related infrastructure in Spain. Additionally, Spain has a higher number of physicians per 1,000 people at 4.5 versus Romania's 3.5, which relates to better access to health services. Internet usage is similarly more pervasive in Spain, with 95.4% of the population connected compared to 89.2% in Romania, reflecting Spain's advanced digital infrastructure.

Environment and Sustainability

When examining environmental sustainability, both countries show a commitment to renewable energy consumption, but Romania slightly exceeds Spain with 23.6% against Spain's 19%. Spain faces a level of water stress with 43.3% of freshwater resources withdrawn, considerably higher than Romania's 7.4%. On greenhouse gas emissions, both are comparable, with Spain at 5.9 tons per capita and Romania at 5.6 tons per capita, indicating a similar environmental impact. Furthermore, Spain's research and development expenditure at 1.4% of GDP contrasts sharply with Romania's 0.5%, highlighting a divergence in commitment to promoting sustainable practices through innovation.