Published: Monday, 21th October 2024
The Standard of living in Bangladesh is 1.30 times lesser as compared to North Macedonia.
In this page, you will find side-by-side Standard of Living comparison between Bangladesh and North Macedonia. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Bangladesh and North Macedonia.
 Indicators  | Bangladesh  | North Macedonia  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $455.166 billion USD | $15.801 billion USD |
GDP Per Capita (2023)  | 2,650 USD | 7,672 USD |
GINI Ratio (2023)  | 0.50 | 0.31 |
Inflation on Consumer Prices (2023)  | 9.88 % annually | 9.36 % annually |
Central Government Debt (2023)  | 31.2 % of GDP | Yet to Update |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Bangladesh is $455.166 billion USD and that of North Macedonia is $15.801 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Bangladesh contributes less to the country's economy compared to a person working in North Macedonia.
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.670 | 0.765 |
Human Capital Index (HCI) (2024)  | 0.46 | 0.56 |
Literacy Rate (2023)  | 76.36% (15 years+ above age) | 97.6% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 73.1 years | 73 years |
Healthy Life Expectancy Ratio (2023)  | 63.1 years | 63.7 years |
Poverty Ratio (2023)  | 18.7% of total Population | 21.8% of total Population |
Unemployment Rate (2023)  | 5.06% of total labor force | 13.07% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Bangladesh is [ 0.670 ] and the HDI of North Macedonia is [ 0.765 ].
The data shows that the people living in Bangladesh has lower income, life expectancy and education level compared to North Macedonia.
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Gross National Expenditure (2023)  | 105.19 % of GDP | 113.51 % of GDP |
Total Health Expenditure (2023)  | 2.36 % of GDP | 8.52 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.38 % of GDP |
Government Expenditure on Education (2023)  | 2.05 % of GDP | 3.3 % of GDP |
International Tourism Expenditure (2023)  | 659 million USD | 153 million USD |
Number of International Tourists Arrivals (2023)  | 323,000 | 118,000 |
Military Expenditure (2023)  | 1.13 % of GDP | 1.61 (% of GDP) |
The total Gross National Expenditure of Bangladesh is 105.19% of its GDP and the total Gross National Expenditure of North Macedonia is 113.51% of its GDP.
From the above data, we can say that Bangladesh spends 1.08 times less of its GDP on Gross National Expenditure compared to North Macedonia.
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Number of Doctors (2023)  | 6.7 (Per 10,000 People) | 29.64 (Per 10,000 People) |
Number of Nurses (2023)  | 6.1 (Per 10,000 People) | 48.3 (Per 10,000 People) |
Number of Pharmacists (2023)  | 1.01 (Per 10,000 People) | 5.24 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.79 (Per 1000 People) | 4.28 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 75.2 % of total Population | 97.3 % of total Population |
Bangladesh has 4.42 times less Doctors compared to North Macedonia (Per 10,000 People).
Bangladesh has 7.92 times less Nurses compared to North Macedonia (Per 10,000 People).
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Agricultural Land (2023)  | 100,680 Sq Km | 12,600 Sq Km |
Forest Area (2023)  | 18,834 Sq Km | 10,014.9 Sq Km |
CO2 Emissions (2023)  | 0.08 kg per PPP $ of GDP | 0.18 kg per PPP $ of GDP |
Access to Electricity (2023)  | 99.4 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 38.92 % of total Population | 83.02 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 35.87 Billion cubic meters | 1.6 Billion cubic meters |
99.4% of the total Population of Bangladesh has access to the electricity in their homes, whereas, in case of North Macedonia, 100% of the total Population has access to electricity.
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Time Required to Start a Business (2023)  | 19.5 Days | 15 Days |
New Businesses Registered (2023)  | 4,473 (New Businesses) | 6,478 (New Businesses) |
New Businesses Registration Density (2023)  | 0.04 (Per 1000 People) | 4.56 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 8.7 % of GNI Per Capita | 3.1 % of GNI Per Capita |
In the year 2023, 4,473 new businesses got registered in Bangladesh and 6,478 new businesses got registered in North Macedonia.
It usually takes 19.5 days in Bangladesh and 15 days in North Macedonia to register a new business legally and systematically.
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Imports of Goods and Services (2023)  | 17.83 % of GDP | 86.31 % of GDP |
Total Fuel Imports (2023)  | 10.86 % of Merchandise Imports | 13 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 900 USD | 150 USD |
Time to Import Border Compliance (2023)  | 216 Hours | 7.5 Hours |
Cost to Import Documentary Compliance (2023)  | 370 USD | 50 USD |
Time to Import Documentary Compliance (2023)  | 144 Hours | 3 Hours |
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Exports of Goods and Services (2023)  | 13.16 % of GDP | 72.79 % of GDP |
Total Fuel Exports (2023)  | 0.56 % of Merchandise Exports | 4.12 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 408.17 USD | 102.5 USD |
Time to Export Border Compliance (2023)  | 168 Hours | 8.5 Hours |
Cost to Export Documentary Compliance (2023)  | 225 USD | 45 USD |
Time to Export Documentary Compliance (2023)  | 147 Hours | 2 Hours |
Indicators | Bangladesh | North Macedonia |
|---|---|---|
Gross National Savings (2023)  | 34.9 % of GDP | 24.55 % of GDP |
Tax Revenue (2023)  | 7.64 % of GDP | 17.39 % of GDP |
Taxes on Exports (2023)  | 0.0002 % of Tax Revenue | 0.00002 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 43.22 % of Tax Revenue | 40.14 % of Tax Revenue |
Taxes on International Trade (2023)  | 9.32 % of Revenue | 3.92 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 435 Hours | 119 Hours |
Customs and Other Import Duties (2023)  | 11.71 % of Tax Revenue | 6.66 % of Tax Revenue |
The taxes charged by Bangladesh on international trade is 9.32% of the total revenue and the taxes charged by North Macedonia on international trade is 3.92% of the total revenue.
The Taxes charged on International Trade by Bangladesh is 2.38 times more of its total revenue than of North Macedonia.
We hope you enjoyed the detailed guide on the standard of living comparsion between Bangladesh and North Macedonia.
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