Published: Monday, 21th October 2024
The Standard of living in Cabo Verde is 1.92 times better as compared to Malawi.
In this page, you will find side-by-side Standard of Living comparison between Cabo Verde and Malawi. 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 Cabo Verde and Malawi.
 Indicators  | Cabo Verde  | Malawi  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $2.598 billion USD | $13.176 billion USD |
GDP Per Capita (2023)  | 4,502 USD | 579 USD |
GINI Ratio (2023)  | 0.42 | 0.45 |
Inflation on Consumer Prices (2023)  | 7.93 % annually | 28.79 % annually |
Central Government Debt (2023)  | Yet to Update | 52.6 % 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 Cabo Verde is $2.598 billion USD and that of Malawi is $13.176 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 Cabo Verde contributes more to the country's economy compared to a person working in Malawi.
Indicators | Cabo Verde | Malawi |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.661 | 0.508 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.41 |
Literacy Rate (2023)  | 91% (15 years+ above age) | 68.08% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 73.2 years | 62.5 years |
Healthy Life Expectancy Ratio (2023)  | 63.8 years | 54.7 years |
Poverty Ratio (2023)  | 35.2% of total Population | 50.7% of total Population |
Unemployment Rate (2023)  | 11.99% of total labor force | 5.04% 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 Cabo Verde is [ 0.661 ] and the HDI of Malawi is [ 0.508 ].
The data shows that the people living in Cabo Verde has better income, life expectancy and education level compared to Malawi.
Indicators | Cabo Verde | Malawi |
|---|---|---|
Gross National Expenditure (2023)  | 114.42 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 6.9 % of GDP | 7.41 % of GDP |
Research and Development Expenditure (2023)  | 0.07 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 6.04 % of GDP | 3.32 % of GDP |
International Tourism Expenditure (2023)  | 59 million USD | 119 million USD |
Number of International Tourists Arrivals (2023)  | 180,000 | 871,000 |
Military Expenditure (2023)  | 0.55 % of GDP | 0.64 (% of GDP) |
Indicators | Cabo Verde | Malawi |
|---|---|---|
Number of Doctors (2023)  | 7.91 (Per 10,000 People) | 0.49 (Per 10,000 People) |
Number of Nurses (2023)  | 12.36 (Per 10,000 People) | 7 (Per 10,000 People) |
Number of Pharmacists (2023)  | 3.01 (Per 10,000 People) | 0.08 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.1 (Per 1000 People) | 1.3 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 98.8 % of total Population | 96.8 % of total Population |
Cabo Verde has 16.14 times more Doctors compared to Malawi (Per 10,000 People).
Cabo Verde has 1.77 times more Nurses compared to Malawi (Per 10,000 People).
Indicators | Cabo Verde | Malawi |
|---|---|---|
Agricultural Land (2023)  | 790 Sq Km | 60,500 Sq Km |
Forest Area (2023)  | 460.2 Sq Km | 21,997 Sq Km |
CO2 Emissions (2023)  | 0.18 kg per PPP $ of GDP | 0.05 kg per PPP $ of GDP |
Access to Electricity (2023)  | 97.1 % of total Population | 14 % of total Population |
Access to Internet (2023)  | 69.76 % of total Population | 24.41 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.03 Billion cubic meters | 1.36 Billion cubic meters |
97.1% of the total Population of Cabo Verde has access to the electricity in their homes, whereas, in case of Malawi, 14% of the total Population has access to electricity.
Indicators | Cabo Verde | Malawi |
|---|---|---|
Time Required to Start a Business (2023)  | 9 Days | 37 Days |
New Businesses Registered (2023)  | 7,491 (New Businesses) | 619 (New Businesses) |
New Businesses Registration Density (2023)  | 18.5 (Per 1000 People) | 0.09 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 13 % of GNI Per Capita | 32.6 % of GNI Per Capita |
In the year 2023, 7,491 new businesses got registered in Cabo Verde and 619 new businesses got registered in Malawi.
It usually takes 9 days in Cabo Verde and 37 days in Malawi to register a new business legally and systematically.
Indicators | Cabo Verde | Malawi |
|---|---|---|
Imports of Goods and Services (2023)  | 54.14 % of GDP | Yet to Update |
Total Fuel Imports (2023)  | 18.52 % of Merchandise Imports | 19.19 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 587.5 USD | 143.46 USD |
Time to Import Border Compliance (2023)  | 60 Hours | 55.04 Hours |
Cost to Import Documentary Compliance (2023)  | 125 USD | 161.54 USD |
Time to Import Documentary Compliance (2023)  | 24 Hours | 55 Hours |
Indicators | Cabo Verde | Malawi |
|---|---|---|
Exports of Goods and Services (2023)  | 39.72 % of GDP | Yet to Update |
Total Fuel Exports (2023)  | Yet to Update | 0.0001 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 641 USD | 242.94 USD |
Time to Export Border Compliance (2023)  | 72 Hours | 78.12 Hours |
Cost to Export Documentary Compliance (2023)  | 125 USD | 341.76 USD |
Time to Export Documentary Compliance (2023)  | 24 Hours | 75 Hours |
Indicators | Cabo Verde | Malawi |
|---|---|---|
Gross National Savings (2023)  | 20.83 % of GDP | Yet to Update |
Tax Revenue (2023)  | 18.39 % of GDP | 12.78 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 36.17 % of Tax Revenue | 32.74 % of Tax Revenue |
Taxes on International Trade (2023)  | 15.03 % of Revenue | 7.46 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 180 Hours | 169 Hours |
Customs and Other Import Duties (2023)  | 20.34 % of Tax Revenue | 9.81 % of Tax Revenue |
The taxes charged by Cabo Verde on international trade is 15.03% of the total revenue and the taxes charged by Malawi on international trade is 7.46% of the total revenue.
The Taxes charged on International Trade by Cabo Verde is 2.01 times more of its total revenue than of Malawi.
We hope you enjoyed the detailed guide on the standard of living comparsion between Cabo Verde and Malawi.
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.
