Published: Monday, 21th October 2024
The Standard of living in Burkina Faso is 2.88 times lesser as compared to Argentina.
In this page, you will find side-by-side Standard of Living comparison between Burkina Faso and Argentina. 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 Burkina Faso and Argentina.
 Indicators  | Burkina Faso  | Argentina  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $20.785 billion USD | $604.260 billion USD |
GDP Per Capita (2023)  | 888 USD | 12,812 USD |
GINI Ratio (2023)  | 0.39 | 0.42 |
Inflation on Consumer Prices (2023)  | 0.74 % annually | Yet to Update |
Central Government Debt (2023)  | 62.5 % of GDP | 46.6 % 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 Burkina Faso is $20.785 billion USD and that of Argentina is $604.260 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 Burkina Faso contributes less to the country's economy compared to a person working in Argentina.
Indicators | Burkina Faso | Argentina |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.438 | 0.849 |
Human Capital Index (HCI) (2024)  | 0.38 | 0.6 |
Literacy Rate (2023)  | 34.49% (15 years+ above age) | 97.19% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 62.3 years | 74.6 years |
Healthy Life Expectancy Ratio (2023)  | 54.6 years | 64.8 years |
Poverty Ratio (2023)  | 43.2% of total Population | 39.2% of total Population |
Unemployment Rate (2023)  | 5.29% of total labor force | 6.18% 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 Burkina Faso is [ 0.438 ] and the HDI of Argentina is [ 0.849 ].
The data shows that the people living in Burkina Faso has lower income, life expectancy and education level compared to Argentina.
Indicators | Burkina Faso | Argentina |
|---|---|---|
Gross National Expenditure (2023)  | 107.1 % of GDP | 102.42 % of GDP |
Total Health Expenditure (2023)  | 6.38 % of GDP | 9.71 % of GDP |
Research and Development Expenditure (2023)  | 0.25 % of GDP | 0.52 % of GDP |
Government Expenditure on Education (2023)  | 5.28 % of GDP | 4.65 % of GDP |
International Tourism Expenditure (2023)  | 185.20 million USD | 2,746 million USD |
Number of International Tourists Arrivals (2023)  | 67,000 | 7,399,000 |
Military Expenditure (2023)  | 3.09 % of GDP | 0.41 (% of GDP) |
The total Gross National Expenditure of Burkina Faso is 107.1% of its GDP and the total Gross National Expenditure of Argentina is 102.42% of its GDP.
From the above data, we can say that Burkina Faso spends 1.05 times more of its GDP on Gross National Expenditure compared to Argentina.
Indicators | Burkina Faso | Argentina |
|---|---|---|
Number of Doctors (2023)  | 1 (Per 10,000 People) | 38.95 (Per 10,000 People) |
Number of Nurses (2023)  | 9.2 (Per 10,000 People) | 54.5 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.31 (Per 10,000 People) | 4.97 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.4 (Per 1000 People) | 4.99 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 80.2 % of total Population | 95 % of total Population |
Burkina Faso has 38.95 times less Doctors compared to Argentina (Per 10,000 People).
Burkina Faso has 5.92 times less Nurses compared to Argentina (Per 10,000 People).
Indicators | Burkina Faso | Argentina |
|---|---|---|
Agricultural Land (2023)  | 127,400 Sq Km | 1,179,577.6 Sq Km |
Forest Area (2023)  | 61,664 Sq Km | 284,636.66 Sq Km |
CO2 Emissions (2023)  | 0.11 kg per PPP $ of GDP | 0.15 kg per PPP $ of GDP |
Access to Electricity (2023)  | 19.5 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 21.58 % of total Population | 88.38 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.82 Billion cubic meters | 37.69 Billion cubic meters |
19.5% of the total Population of Burkina Faso has access to the electricity in their homes, whereas, in case of Argentina, 100% of the total Population has access to electricity.
Indicators | Burkina Faso | Argentina |
|---|---|---|
Time Required to Start a Business (2023)  | 13 Days | 11.5 Days |
New Businesses Registered (2023)  | 3,416 (New Businesses) | 5,667 (New Businesses) |
New Businesses Registration Density (2023)  | 0.32 (Per 1000 People) | 0.2 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 42.8 % of GNI Per Capita | 5 % of GNI Per Capita |
In the year 2023, 3,416 new businesses got registered in Burkina Faso and 5,667 new businesses got registered in Argentina.
It usually takes 13 days in Burkina Faso and 11.5 days in Argentina to register a new business legally and systematically.
Indicators | Burkina Faso | Argentina |
|---|---|---|
Imports of Goods and Services (2023)  | 35.96 % of GDP | 14.05 % of GDP |
Total Fuel Imports (2023)  | 39.58 % of Merchandise Imports | 10.54 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 264.5 USD | 1,200 USD |
Time to Import Border Compliance (2023)  | 102 Hours | 60 Hours |
Cost to Import Documentary Compliance (2023)  | 196.5 USD | 120 USD |
Time to Import Documentary Compliance (2023)  | 96 Hours | 166 Hours |
Indicators | Burkina Faso | Argentina |
|---|---|---|
Exports of Goods and Services (2023)  | 28.86 % of GDP | 12.92 % of GDP |
Total Fuel Exports (2023)  | 0.02 % of Merchandise Exports | 8.81 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 261 USD | 150 USD |
Time to Export Border Compliance (2023)  | 74.5 Hours | 21 Hours |
Cost to Export Documentary Compliance (2023)  | 85.5 USD | 60 USD |
Time to Export Documentary Compliance (2023)  | 84 Hours | 25 Hours |
Indicators | Burkina Faso | Argentina |
|---|---|---|
Gross National Savings (2023)  | 15.03 % of GDP | 15.13 % of GDP |
Tax Revenue (2023)  | 17.67 % of GDP | 11.15 % of GDP |
Taxes on Exports (2023)  | 0.02 % of Tax Revenue | 16.41 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 39.97 % of Tax Revenue | 29.19 % of Tax Revenue |
Taxes on International Trade (2023)  | 11.14 % of Revenue | 16.57 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 270 Hours | 311.5 Hours |
Customs and Other Import Duties (2023)  | 13.8 % of Tax Revenue | 6.62 % of Tax Revenue |
The taxes charged by Burkina Faso on international trade is 11.14% of the total revenue and the taxes charged by Argentina on international trade is 16.57% of the total revenue.
The Taxes charged on International Trade by Burkina Faso is 1.49 times less of its total revenue than of Argentina.
We hope you enjoyed the detailed guide on the standard of living comparsion between Burkina Faso and Argentina.
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