Published: Monday, 21th October 2024
The Standard of living in Belgium is 1.33 times better as compared to Portugal.
In this page, you will find side-by-side Standard of Living comparison between Belgium and Portugal. 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 Belgium and Portugal.
 Indicators  | Belgium  | Portugal  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $655.192 billion USD | $298.949 billion USD |
GDP Per Capita (2023)  | 55,536 USD | 28,969 USD |
GINI Ratio (2023)  | 0.25 | 0.34 |
Inflation on Consumer Prices (2023)  | 4.05 % annually | 4.31 % annually |
Central Government Debt (2023)  | 94 % of GDP | 5.7 % of GDP |
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 Belgium is $655.192 billion USD and that of Portugal is $298.949 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 Belgium contributes more to the country's economy compared to a person working in Portugal.
Indicators | Belgium | Portugal |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.942 | 0.874 |
Human Capital Index (HCI) (2024)  | 0.76 | 0.77 |
Literacy Rate (2023)  | 99% (15 years+ above age) | 96.78% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 81.5 years | 81.2 years |
Healthy Life Expectancy Ratio (2023)  | 69.8 years | 69.5 years |
Poverty Ratio (2023)  | 12.3% of total Population | 16.4% of total Population |
Unemployment Rate (2023)  | 5.51% of total labor force | 6.49% 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 Belgium is [ 0.942 ] and the HDI of Portugal is [ 0.874 ].
The data shows that the people living in Belgium has better income, life expectancy and education level compared to Portugal.
Indicators | Belgium | Portugal |
|---|---|---|
Gross National Expenditure (2023)  | 100.93 % of GDP | 99.17 % of GDP |
Total Health Expenditure (2023)  | 11.04 % of GDP | 11.14 % of GDP |
Research and Development Expenditure (2023)  | 3.43 % of GDP | 1.73 % of GDP |
Government Expenditure on Education (2023)  | 6.21 % of GDP | 4.61 % of GDP |
International Tourism Expenditure (2023)  | 13,928 million USD | 3,536 million USD |
Number of International Tourists Arrivals (2023)  | 2,584,000 | 4,208,000 |
Military Expenditure (2023)  | 1.18 % of GDP | 1.35 (% of GDP) |
The total Gross National Expenditure of Belgium is 100.93% of its GDP and the total Gross National Expenditure of Portugal is 99.17% of its GDP.
From the above data, we can say that Belgium spends 1.02 times more of its GDP on Gross National Expenditure compared to Portugal.
Indicators | Belgium | Portugal |
|---|---|---|
Number of Doctors (2023)  | 32.4 (Per 10,000 People) | 57.7 (Per 10,000 People) |
Number of Nurses (2023)  | 205 (Per 10,000 People) | 77.9 (Per 10,000 People) |
Number of Pharmacists (2023)  | 13.07 (Per 10,000 People) | 9.84 (Per 10,000 People) |
Available Hospital Beds (2023)  | 5.58 (Per 1000 People) | 3.45 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 100 % of total Population |
Belgium has 1.78 times less Doctors compared to Portugal (Per 10,000 People).
Belgium has 2.63 times more Nurses compared to Portugal (Per 10,000 People).
Indicators | Belgium | Portugal |
|---|---|---|
Agricultural Land (2023)  | 13,656.7 Sq Km | 39,622.96 Sq Km |
Forest Area (2023)  | 6,893 Sq Km | 33,120 Sq Km |
CO2 Emissions (2023)  | 0.13 kg per PPP $ of GDP | 0.11 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 94.01 % of total Population | 84.5 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 4.2 Billion cubic meters | 6.13 Billion cubic meters |
100% of the total Population of Belgium has access to the electricity in their homes, whereas, in case of Portugal, 100% of the total Population has access to electricity.
Indicators | Belgium | Portugal |
|---|---|---|
Time Required to Start a Business (2023)  | 5 Days | 6.5 Days |
New Businesses Registered (2023)  | 47,171 (New Businesses) | 46,119 (New Businesses) |
New Businesses Registration Density (2023)  | 6.34 (Per 1000 People) | 6.95 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 5.3 % of GNI Per Capita | 1.9 % of GNI Per Capita |
In the year 2023, 47,171 new businesses got registered in Belgium and 46,119 new businesses got registered in Portugal.
It usually takes 5 days in Belgium and 6.5 days in Portugal to register a new business legally and systematically.
Indicators | Belgium | Portugal |
|---|---|---|
Imports of Goods and Services (2023)  | 87.61 % of GDP | 46.61 % of GDP |
Total Fuel Imports (2023)  | 17.06 % of Merchandise Imports | 11.65 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | Yet to Update |
Time to Import Border Compliance (2023)  | Yet to Update | Yet to Update |
Cost to Import Documentary Compliance (2023)  | Yet to Update | Yet to Update |
Time to Import Documentary Compliance (2023)  | 0.5 Hour | 0.5 Hour |
Indicators | Belgium | Portugal |
|---|---|---|
Exports of Goods and Services (2023)  | 86.68 % of GDP | 47.44 % of GDP |
Total Fuel Exports (2023)  | 13.17 % of Merchandise Exports | 6.61 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Cost to Export Documentary Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Documentary Compliance (2023)  | 0.5 Hour | 0.5 Hour |
Indicators | Belgium | Portugal |
|---|---|---|
Gross National Savings (2023)  | 25.21 % of GDP | 20.52 % of GDP |
Tax Revenue (2023)  | 23.09 % of GDP | 23.05 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 0.03 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 25.47 % of Tax Revenue | 31.8 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 0.0002 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 136 Hours | 243 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 0.0004 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Belgium and Portugal.
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