Spain vs Slovakia development indicators, 2024

Demography and Health

Spain has a total population of approximately 48.8 million, while Slovakia has about 5.4 million. The crude birth rate in Spain is 6.7 per 1,000 people, compared to Slovakia's 9, indicating a lower rate of population growth in Spain. However, Spain's crude death rate stands at 9 per 1,000 people, slightly lower than Slovakia's 10. In terms of life expectancy, Spain significantly leads with 83.9 years compared to Slovakia's 78 years, demonstrating a generally higher health status among its citizens. Additionally, Spain boasts a lower under-5 mortality rate at 3.1 per 1,000 live births, compared to Slovakia's 6.1, reflecting better healthcare for infants. The prevalence of undernourishment is also lower in Spain at 2.5%, compared to Slovakia's 3.6%. The country employs more physicians per capita at 4.5 per 1,000 people versus 3.7 in Slovakia, contributing to its superior health outcomes.

Economy

In terms of GDP per capita, Spain has a figure of $35,297, outperforming Slovakia's $26,148. This positions Spain 51st globally while Slovakia ranks 73rd. When adjusted for purchasing power parity (PPP), Spain maintains an advantage with $56,926 compared to Slovakia's $47,181, indicating better overall economic conditions. However, both countries have similar inflation rates at 2.8%, suggesting economic stability. Slovakia excels in exports of goods and services, with a remarkable 85.2% of its GDP derived from exports, far surpassing Spain's 37.3%. Conversely, Spain's imports account for 33% of its GDP against Slovakia's extraordinary 85%, highlighting differing trade dependencies. Foreign direct investment (FDI) net inflows show a slight edge for Slovakia at 2.5% of GDP compared to Spain's 1.9%, although Spain has a more favorable current account balance at 3% versus Slovakia's -2.7%.

Trade and Investment

When examining trade, Slovakia's high exports reflect its strong manufacturing sector, likely benefiting from EU membership and trade agreements. Conversely, Spain's diverse economy contributes to a relatively lower export percentage relative to GDP. Spain holds a significant position in high-technology exports, with $25.8 billion compared to Slovakia's $10.1 billion, demonstrating Spain's competitiveness in advanced sectors. On the investment front, Spain has focused on attracting foreign direct investment due to its large market, whereas Slovakia’s investment environment has become appealing thanks to lower labor costs and favorable business regulations, which are evident in its higher FDI relative to GDP.

Governance and Institutions

Spain ranks considerably higher than Slovakia in governance and institutional quality indicators. The country scores 0.6 in control of corruption, compared to Slovakia’s 0.3, suggesting better transparency and less corruption in its governmental processes. Spain also scores higher in government effectiveness (0.8) than Slovakia (0.2), indicating a more efficient administrative structure. In terms of political stability, Slovakia has a more favorable score with 0.6, whereas Spain’s score of 0.3 indicates some challenges in political dynamics. Spain also outperforms Slovakia in regulatory quality (0.7 vs. 0.6) and rule of law (0.8 vs. 0.6), showcasing a stronger legal framework and adherence to regulations.

Infrastructure and Technology

Spain demonstrates a stronger logistics performance index at 3.8 compared to Slovakia's 3.3, reflecting more developed infrastructure for trade and transport. This can be attributed to Spain's extensive investment in its transportation sector. Furthermore, higher research and development expenditure in Spain at 1.4% of GDP contrasts with Slovakia's 1%, highlighting Spain's emphasis on innovation and technological advancement. Spain also leads in the number of patent applications (1,308) relative to Slovakia (146), showcasing a more vibrant environment for intellectual property and invention.

Environment and Sustainability

Spain hosts a higher proportion of renewable energy consumption at 19% of its total energy usage compared to Slovakia’s 17.9%. This trend reflects Spain's strategic investments in renewable resources. However, Spain has a higher level of water stress with a freshwater withdrawal rate of 43.3% compared to Slovakia's just 2.4%, indicating potential sustainability challenges. In terms of greenhouse gas emissions, Spain emits 5.9 tons CO2e per capita, while Slovakia's emissions are higher at 8.3 tons CO2e per capita, indicating a greater environmental burden in Slovakia. Both countries are making strides towards sustainability, yet Spain appears to have stronger initiatives in renewable energy and more favorable environmental indicators overall.