Published: Monday, 21th October 2024
The Standard of living in Cabo Verde is 2.08 times lesser as compared to San Marino.
In this page, you will find side-by-side Standard of Living comparison between Cabo Verde and San Marino. 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 San Marino.
 Indicators  | Cabo Verde  | San Marino  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $2.598 billion USD | $2.034 billion USD |
GDP Per Capita (2023)  | 4,502 USD | 59,405 USD |
GINI Ratio (2023)  | 0.42 | 0.35 |
Inflation on Consumer Prices (2023)  | 7.93 % annually | 1.05 % annually |
Central Government Debt (2023)  | Yet to Update | 95.1 % 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 San Marino is $2.034 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 less to the country's economy compared to a person working in San Marino.
Indicators | Cabo Verde | San Marino |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.661 | 0.867 |
Human Capital Index (HCI) (2024)  | Yet to Update | Yet to Update |
Literacy Rate (2023)  | 91% (15 years+ above age) | 99.91% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 73.2 years | 83.4 years |
Healthy Life Expectancy Ratio (2023)  | 63.8 years | 73.9 years |
Poverty Ratio (2023)  | 35.2% of total Population | Yet to Update |
Unemployment Rate (2023)  | 11.99% 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 Cabo Verde is [ 0.661 ] and the HDI of San Marino is [ 0.867 ].
The data shows that the people living in Cabo Verde has lower income, life expectancy and education level compared to San Marino.
Indicators | Cabo Verde | San Marino |
|---|---|---|
Gross National Expenditure (2023)  | 114.42 % of GDP | 73.84 % of GDP |
Total Health Expenditure (2023)  | 6.9 % of GDP | 9.5 % of GDP |
Research and Development Expenditure (2023)  | 0.07 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 6.04 % of GDP | 3.11 % of GDP |
International Tourism Expenditure (2023)  | 59 million USD | Yet to Update |
Number of International Tourists Arrivals (2023)  | 180,000 | 1,904,000 |
Military Expenditure (2023)  | 0.55 % of GDP | Yet to Update |
The total Gross National Expenditure of Cabo Verde is 114.42% of its GDP and the total Gross National Expenditure of San Marino is 73.84% of its GDP.
From the above data, we can say that Cabo Verde spends 1.55 times more of its GDP on Gross National Expenditure compared to San Marino.
Indicators | Cabo Verde | San Marino |
|---|---|---|
Number of Doctors (2023)  | 7.91 (Per 10,000 People) | 35.3 (Per 10,000 People) |
Number of Nurses (2023)  | 12.36 (Per 10,000 People) | 71.1 (Per 10,000 People) |
Number of Pharmacists (2023)  | 3.01 (Per 10,000 People) | 5.3 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.1 (Per 1000 People) | 3.8 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 98.8 % of total Population | Yet to Update |
Cabo Verde has 4.46 times less Doctors compared to San Marino (Per 10,000 People).
Cabo Verde has 5.75 times less Nurses compared to San Marino (Per 10,000 People).
Indicators | Cabo Verde | San Marino |
|---|---|---|
Agricultural Land (2023)  | 790 Sq Km | 23 Sq Km |
Forest Area (2023)  | 460.2 Sq Km | 10 Sq Km |
CO2 Emissions (2023)  | 0.18 kg per PPP $ of GDP | Yet to Update |
Access to Electricity (2023)  | 97.1 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 69.76 % of total Population | 74.86 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.03 Billion cubic meters | Yet to Update |
97.1% of the total Population of Cabo Verde has access to the electricity in their homes, whereas, in case of San Marino, 100% of the total Population has access to electricity.
Indicators | Cabo Verde | San Marino |
|---|---|---|
Time Required to Start a Business (2023)  | 9 Days | 11.5 Days |
New Businesses Registered (2023)  | 7,491 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 18.5 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 13 % of GNI Per Capita | 8.8 % of GNI Per Capita |
It usually takes 9 days in Cabo Verde and 11.5 days in San Marino to register a new business legally and systematically.
Indicators | Cabo Verde | San Marino |
|---|---|---|
Imports of Goods and Services (2023)  | 54.14 % of GDP | 158.16 % of GDP |
Total Fuel Imports (2023)  | 18.52 % of Merchandise Imports | Yet to Update |
Cost to Import Border Compliance (2023)  | 587.5 USD | 50 USD |
Time to Import Border Compliance (2023)  | 60 Hours | 4 Hours |
Cost to Import Documentary Compliance (2023)  | 125 USD | 100 USD |
Time to Import Documentary Compliance (2023)  | 24 Hours | 2.5 Hours |
Indicators | Cabo Verde | San Marino |
|---|---|---|
Exports of Goods and Services (2023)  | 39.72 % of GDP | 184.31 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | Yet to Update |
Cost to Export Border Compliance (2023)  | 641 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 72 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 125 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 24 Hours | 0.5 Hour |
Indicators | Cabo Verde | San Marino |
|---|---|---|
Gross National Savings (2023)  | 20.83 % of GDP | Yet to Update |
Tax Revenue (2023)  | 18.39 % of GDP | 17.3 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 36.17 % of Tax Revenue | 18.6 % of Tax Revenue |
Taxes on International Trade (2023)  | 15.03 % of Revenue | 0.43 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 180 Hours | 52 Hours |
Customs and Other Import Duties (2023)  | 20.34 % of Tax Revenue | 1.08 % of Tax Revenue |
The taxes charged by Cabo Verde on international trade is 15.03% of the total revenue and the taxes charged by San Marino on international trade is 0.43% of the total revenue.
The Taxes charged on International Trade by Cabo Verde is 34.95 times more of its total revenue than of San Marino.
We hope you enjoyed the detailed guide on the standard of living comparsion between Cabo Verde and San Marino.
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