Published: Monday, 21th October 2024
The Standard of living in Benin is 1.88 times lesser as compared to Saint Vincent and the Grenadines.
In this page, you will find side-by-side Standard of Living comparison between Benin and Saint Vincent and the Grenadines. 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 Benin and Saint Vincent and the Grenadines.
 Indicators  | Benin  | Saint Vincent and the Grenadines  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $19.940 billion USD | $1 billion USD |
GDP Per Capita (2023)  | 1,449 USD | 9,360 USD |
GINI Ratio (2023)  | 0.48 | 0.46 |
Inflation on Consumer Prices (2023)  | 2.73 % annually | 4.56 % annually |
Central Government Debt (2023)  | Yet to Update | 53.7 % 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 Benin is $19.940 billion USD and that of Saint Vincent and the Grenadines is $1 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 Benin contributes less to the country's economy compared to a person working in Saint Vincent and the Grenadines.
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.545 | 0.772 |
Human Capital Index (HCI) (2024)  | 0.4 | 0.53 |
Literacy Rate (2023)  | 47.1% (15 years+ above age) | 96.9% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 64 years | 72.6 years |
Healthy Life Expectancy Ratio (2023)  | 55.7 years | 62.9 years |
Poverty Ratio (2023)  | 38.5% of total Population | Yet to Update |
Unemployment Rate (2023)  | 1.45% of total labor force | 18.67% 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 Benin is [ 0.545 ] and the HDI of Saint Vincent and the Grenadines is [ 0.772 ].
The data shows that the people living in Benin has lower income, life expectancy and education level compared to Saint Vincent and the Grenadines.
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Gross National Expenditure (2023)  | 108.96 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 2.58 % of GDP | 5.36 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.11 % of GDP |
Government Expenditure on Education (2023)  | 3.21 % of GDP | 5.46 % of GDP |
International Tourism Expenditure (2023)  | 130 million USD | 13 million USD |
Number of International Tourists Arrivals (2023)  | 337,000 | Yet to Update |
Military Expenditure (2023)  | 0.56 % of GDP | Yet to Update |
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Number of Doctors (2023)  | 2.12 (Per 10,000 People) | 9.44 (Per 10,000 People) |
Number of Nurses (2023)  | 5.82 (Per 10,000 People) | 73.4 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.31 (Per 10,000 People) | Yet to Update |
Available Hospital Beds (2023)  | 0.5 (Per 1000 People) | 2.4 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 83.2 % of total Population | 99.5 % of total Population |
Benin has 4.45 times less Doctors compared to Saint Vincent and the Grenadines (Per 10,000 People).
Benin has 12.61 times less Nurses compared to Saint Vincent and the Grenadines (Per 10,000 People).
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Agricultural Land (2023)  | 39,500 Sq Km | 70 Sq Km |
Forest Area (2023)  | 30,851.5 Sq Km | 285.4 Sq Km |
CO2 Emissions (2023)  | 0.19 kg per PPP $ of GDP | 0.14 kg per PPP $ of GDP |
Access to Electricity (2023)  | 56.5 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 33.97 % of total Population | 84.91 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.13 Billion cubic meters | 0.01 Billion cubic meters |
56.5% of the total Population of Benin has access to the electricity in their homes, whereas, in case of Saint Vincent and the Grenadines, 100% of the total Population has access to electricity.
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Time Required to Start a Business (2023)  | 8.5 Days | 10 Days |
New Businesses Registered (2023)  | 5,560 (New Businesses) | 323 (New Businesses) |
New Businesses Registration Density (2023)  | 0.76 (Per 1000 People) | 4.6 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 3.5 % of GNI Per Capita | 13.9 % of GNI Per Capita |
In the year 2023, 5,560 new businesses got registered in Benin and 323 new businesses got registered in Saint Vincent and the Grenadines.
It usually takes 8.5 days in Benin and 10 days in Saint Vincent and the Grenadines to register a new business legally and systematically.
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Imports of Goods and Services (2023)  | 30.16 % of GDP | Yet to Update |
Total Fuel Imports (2023)  | 17.05 % of Merchandise Imports | 12.48 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 599.11 USD | 540 USD |
Time to Import Border Compliance (2023)  | 82 Hours | 48 Hours |
Cost to Import Documentary Compliance (2023)  | 110 USD | 90 USD |
Time to Import Documentary Compliance (2023)  | 58.67 Hours | 24 Hours |
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Exports of Goods and Services (2023)  | 21.19 % of GDP | Yet to Update |
Total Fuel Exports (2023)  | 0.002 % of Merchandise Exports | 0.01 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 354.33 USD | 340 USD |
Time to Export Border Compliance (2023)  | 78 Hours | 28 Hours |
Cost to Export Documentary Compliance (2023)  | 80 USD | 80 USD |
Time to Export Documentary Compliance (2023)  | 48 Hours | 48 Hours |
Indicators | Benin | Saint Vincent and the Grenadines |
|---|---|---|
Gross National Savings (2023)  | 23.4 % of GDP | Yet to Update |
Tax Revenue (2023)  | 10.79 % of GDP | 23.8 % of GDP |
Taxes on Exports (2023)  | 1.85 % of Tax Revenue | 0.61 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 8.5 % of Tax Revenue | 43.46 % of Tax Revenue |
Taxes on International Trade (2023)  | 41.22 % of Revenue | 17.63 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 270 Hours | 108 Hours |
Customs and Other Import Duties (2023)  | 62.02 % of Tax Revenue | 12.95 % of Tax Revenue |
The taxes charged by Benin on international trade is 41.22% of the total revenue and the taxes charged by Saint Vincent and the Grenadines on international trade is 17.63% of the total revenue.
The Taxes charged on International Trade by Benin is 2.34 times more of its total revenue than of Saint Vincent and the Grenadines.
We hope you enjoyed the detailed guide on the standard of living comparsion between Benin and Saint Vincent and the Grenadines.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.
