Spain Spain vs Sweden Sweden development indicators, 2024

Indicator
Spain
Spain, Value
Sweden
Sweden, Value
Spain
Spain, Rank
Sweden
Sweden, Rank
Spain Spain as % of
Sweden Sweden
Current account balance (% of GDP) 3.03 7.42 32 13 40.8 %
Exports of goods and services (% of GDP) 37.3 54.6 66 34 68.3 %
Foreign direct investment, net inflows (% of GDP) 1.89 4.37 58 22 43.2 %
GDP per capita (current US$) 35,297 57,723 34 14 61.1 %
GDP per capita, PPP (current international US$) 56,926 71,030 32 23 80.1 %
Imports of goods and services (% of GDP) 33 50.2 87 56 65.7 %
Inflation, consumer prices (annual %) 2.77 2.84 90 88 97.8 %
Net migration 111,674 50,115 18 24 223 %
Population, total 48,807,137 10,569,709 32 92 462 %

Demography and Health

Spain has a population of approximately 48.8 million, significantly larger than Sweden's 10.6 million. The birth rate in Spain is 6.7 per 1,000 people, lower than Sweden's 9.5, placing Spain 79th in the global ranking compared to Sweden's 28th. Both countries have the same death rate of 9 per 1,000 people, ranking them both 66th. In terms of life expectancy, Spain scores slightly higher at 83.9 years versus Sweden's 83.3 years, with Spain ranking 1st globally for this indicator. The under-five mortality rate in Spain is 3.1 per 1,000 live births, better than Sweden's 2.5. Thus, while both countries perform well in health indicators, Spain delivers marginally better life expectancy, while Sweden excels in birth rates and early child mortality. The prevalence of undernourishment is equal in both countries at 2.5%, highlighting a similar level of food security.

Economy

Spain's GDP per capita is $35,297, positioned 51st globally, while Sweden shows a higher GDP per capita of $57,723, ranking 18th. Adjusted for purchasing power parity (PPP), Spain's GDP per capita is $56,926, still lower than Sweden's $71,030. Spain's economy is less reliant on exports of goods and services at 37.3% of GDP, ranking 98th, compared to Sweden's 54.6% and a ranking of 70th. This indicates a greater balance in Sweden's economy, which depends more heavily on international trade. However, both nations face similar inflation rates of 2.8% for 2024, ranking them similarly in inflation management. Spain's unemployment rate stands at 12.2%, significantly higher than Sweden's 7.6%, indicating stronger job market conditions in Sweden.

Trade and Investment

Spain's foreign direct investment (FDI) net inflows are at 1.9% of GDP, ranking 77th, while Sweden enjoys a higher inflow rate of 4.4%, securing the 32nd position. This suggests a more favorable investment climate in Sweden, potentially due to its strong economic policies. Trade openness is reflected through imports of goods and services as a percentage of GDP, with Spain at 33% and Sweden at 50.2%, indicating a more integrated position in global markets for Sweden. Current account balance percentages also favor Sweden, with a surplus of 7.4% against Spain's 3% surplus, further demonstrating Sweden's robust trade performance.

Governance and Institutions

In governance metrics, Spain performs lower compared to Sweden in various indicators. The control of corruption index shows Spain at 0.6 and Sweden at 2, ranking them 50th and 9th respectively. This disparity indicates a higher perceived corruption risk in Spain. Government effectiveness is similarly lower in Spain (0.8) compared to Sweden (1.6), with ranks of 51st and 13th. Poland's political stability is rated at 0.3, placing it 78th globally, while Sweden's rating of 0.8 lands it at 27th. Regulatory quality and rule of law scores also favor Sweden, clearly reflecting the country's superior governance framework.

Infrastructure and Technology

Both countries show a high level of internet usage, with 95.4% of Spain's population and 95.7% of Sweden's population connected. The logistics performance index, critical for assessing trade infrastructure, gives Spain a score of 3.8, comparing lower to Sweden's 4.2. This indicates that Sweden offers a better quality of infrastructure for trade and transport, impacting economic efficiency. Regarding innovation, Spain registered 1,308 patent applications compared to Sweden's 1,771, denoting a vibrant, albeit less prolific, innovation environment in Sweden, showcased by its higher R&D expenditure of 3.4% of GDP against Spain's 1.4%.

Environment and Sustainability

In terms of environmental performance, Spain and Sweden diverge significantly in renewable energy consumption, with Spain at 19% and Sweden leading at an impressive 57.9%. Sweden is more advanced in commitment to sustainability, which is also evident in lower greenhouse gas emissions per capita (4.7 t CO2e) compared to Spain's higher figure of 5.9 t CO2e. Sweden's efficient use of fresh water resources is showcased by only 3.6% of available freshwater being withdrawn, in stark contrast to Spain's 43.3%. Both countries face environmental challenges, yet Sweden has made more substantial progress towards sustainability and renewable energy adoption than Spain.