Published: Monday, 21th October 2024
The Standard of living in Burkina Faso is 2.75 times lesser as compared to Taiwan.
In this page, you will find side-by-side Standard of Living comparison between Burkina Faso and Taiwan. 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 Taiwan.
 Indicators  | Burkina Faso  | Taiwan  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $20.785 billion USD | $751.930 billion USD |
GDP Per Capita (2023)  | 888 USD | 32,339 USD |
GINI Ratio (2023)  | 0.39 | 0.34 |
Inflation on Consumer Prices (2023)  | 0.74 % annually | Yet to Update |
Central Government Debt (2023)  | 62.5 % 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 Burkina Faso is $20.785 billion USD and that of Taiwan is $751.930 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 Taiwan.
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.438 | 0.926 |
Human Capital Index (HCI) (2024)  | 0.38 | Yet to Update |
Literacy Rate (2023)  | 34.49% (15 years+ above age) | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 62.3 years | 81.3 years |
Healthy Life Expectancy Ratio (2023)  | 54.6 years | 73 years |
Poverty Ratio (2023)  | 43.2% of total Population | Yet to Update |
Unemployment Rate (2023)  | 5.29% of total labor force | Yet to Update |
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 Taiwan is [ 0.926 ].
The data shows that the people living in Burkina Faso has lower income, life expectancy and education level compared to Taiwan.
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Gross National Expenditure (2023)  | 107.1 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 6.38 % of GDP | 6.5 % of GDP |
Research and Development Expenditure (2023)  | 0.25 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 5.28 % of GDP | Yet to Update |
International Tourism Expenditure (2023)  | 185.20 million USD | Yet to Update |
Number of International Tourists Arrivals (2023)  | 67,000 | Yet to Update |
Military Expenditure (2023)  | 3.09 % of GDP | Yet to Update |
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Number of Doctors (2023)  | 1 (Per 10,000 People) | 2.3 (Per 10,000 People) |
Number of Nurses (2023)  | 9.2 (Per 10,000 People) | 6.7 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.31 (Per 10,000 People) | 1.1 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.4 (Per 1000 People) | Yet to Update |
Pregnant Women Receiving Prenatal Care (2023)  | 80.2 % of total Population | Yet to Update |
Burkina Faso has 2.30 times less Doctors compared to Taiwan (Per 10,000 People).
Burkina Faso has 1.37 times more Nurses compared to Taiwan (Per 10,000 People).
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Agricultural Land (2023)  | 127,400 Sq Km | Yet to Update |
Forest Area (2023)  | 61,664 Sq Km | Yet to Update |
CO2 Emissions (2023)  | 0.11 kg per PPP $ of GDP | Yet to Update |
Access to Electricity (2023)  | 19.5 % of total Population | Yet to Update |
Access to Internet (2023)  | 21.58 % of total Population | Yet to Update |
Annual Fresh Water Withdrawals (2023)  | 0.82 Billion cubic meters | Yet to Update |
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Time Required to Start a Business (2023)  | 13 Days | Yet to Update |
New Businesses Registered (2023)  | 3,416 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 0.32 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 42.8 % of GNI Per Capita | Yet to Update |
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Imports of Goods and Services (2023)  | 35.96 % of GDP | Yet to Update |
Total Fuel Imports (2023)  | 39.58 % of Merchandise Imports | Yet to Update |
Cost to Import Border Compliance (2023)  | 264.5 USD | Yet to Update |
Time to Import Border Compliance (2023)  | 102 Hours | Yet to Update |
Cost to Import Documentary Compliance (2023)  | 196.5 USD | Yet to Update |
Time to Import Documentary Compliance (2023)  | 96 Hours | Yet to Update |
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Exports of Goods and Services (2023)  | 28.86 % of GDP | Yet to Update |
Total Fuel Exports (2023)  | 0.02 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | 261 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 74.5 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 85.5 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 84 Hours | Yet to Update |
Indicators | Burkina Faso | Taiwan |
|---|---|---|
Gross National Savings (2023)  | 15.03 % of GDP | Yet to Update |
Tax Revenue (2023)  | 17.67 % of GDP | Yet to Update |
Taxes on Exports (2023)  | 0.02 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 39.97 % of Tax Revenue | Yet to Update |
Taxes on International Trade (2023)  | 11.14 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 270 Hours | Yet to Update |
Customs and Other Import Duties (2023)  | 13.8 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Burkina Faso and Taiwan.
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