Published: Monday, 21th October 2024
The Standard of living in Democratic Republic of the Congo is 1.54 times lesser as compared to Micronesia.
In this page, you will find side-by-side Standard of Living comparison between Democratic Republic of the Congo and Micronesia. 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 Democratic Republic of the Congo and Micronesia.
 Indicators  | Democratic Republic of the Congo  | Micronesia  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $73.761 billion USD | $396 million USD |
GDP Per Capita (2023)  | 714 USD | 3,430 USD |
GINI Ratio (2023)  | 0.42 | 0.42 |
Inflation on Consumer Prices (2023)  | 2.89 % annually | 5.41 % annually |
Central Government Debt (2023)  | 16 % of GDP | 27.9 % 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 Democratic Republic of the Congo is $73.761 billion USD and that of Micronesia is $396 million 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 Democratic Republic of the Congo contributes less to the country's economy compared to a person working in Micronesia.
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.481 | 0.623 |
Human Capital Index (HCI) (2024)  | 0.37 | 0.51 |
Literacy Rate (2023)  | 80.54% (15 years+ above age) | 89% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 61.6 years | 65.7 years |
Healthy Life Expectancy Ratio (2023)  | 53.2 years | 57.9 years |
Poverty Ratio (2023)  | 63.9% of total Population | 41.2% of total Population |
Unemployment Rate (2023)  | 4.54% 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 Democratic Republic of the Congo is [ 0.481 ] and the HDI of Micronesia is [ 0.623 ].
The data shows that the people living in Democratic Republic of the Congo has lower income, life expectancy and education level compared to Micronesia.
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Gross National Expenditure (2023)  | 102.77 % of GDP | 227.91 % of GDP |
Total Health Expenditure (2023)  | 3.79 % of GDP | 10.96 % of GDP |
Research and Development Expenditure (2023)  | 0.41 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 3 % of GDP | 10.54 % of GDP |
International Tourism Expenditure (2023)  | 115 million USD | 29 million USD |
Number of International Tourists Arrivals (2023)  | 351,000 | 18,000 |
Military Expenditure (2023)  | 0.58 % of GDP | Yet to Update |
The total Gross National Expenditure of Democratic Republic of the Congo is 102.77% of its GDP and the total Gross National Expenditure of Micronesia is 227.91% of its GDP.
From the above data, we can say that Democratic Republic of the Congo spends 2.22 times less of its GDP on Gross National Expenditure compared to Micronesia.
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Number of Doctors (2023)  | 1.77 (Per 10,000 People) | 9.63 (Per 10,000 People) |
Number of Nurses (2023)  | 10.83 (Per 10,000 People) | 21.99 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.07 (Per 10,000 People) | Yet to Update |
Available Hospital Beds (2023)  | 0.8 (Per 1000 People) | 3.2 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 82.4 % of total Population | 80 % of total Population |
Democratic Republic of the Congo has 5.44 times less Doctors compared to Micronesia (Per 10,000 People).
Democratic Republic of the Congo has 2.03 times less Nurses compared to Micronesia (Per 10,000 People).
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Agricultural Land (2023)  | 338,980 Sq Km | 50 Sq Km |
Forest Area (2023)  | 1,250,538.6 Sq Km | 644.5 Sq Km |
CO2 Emissions (2023)  | 0.03 kg per PPP $ of GDP | 0.26 kg per PPP $ of GDP |
Access to Electricity (2023)  | 21.5 % of total Population | 85.3 % of total Population |
Access to Internet (2023)  | 22.9 % of total Population | 40.41 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.68 Billion cubic meters | Yet to Update |
21.5% of the total Population of Democratic Republic of the Congo has access to the electricity in their homes, whereas, in case of Micronesia, 85.3% of the total Population has access to electricity.
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Time Required to Start a Business (2023)  | 7 Days | 16 Days |
New Businesses Registered (2023)  | 1,795 (New Businesses) | 25 (New Businesses) |
New Businesses Registration Density (2023)  | 0.04 (Per 1000 People) | 0.36 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 16.3 % of GNI Per Capita | 141.4 % of GNI Per Capita |
In the year 2023, 1,795 new businesses got registered in Democratic Republic of the Congo and 25 new businesses got registered in Micronesia.
It usually takes 7 days in Democratic Republic of the Congo and 16 days in Micronesia to register a new business legally and systematically.
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Imports of Goods and Services (2023)  | 47.02 % of GDP | 67.54 % of GDP |
Total Fuel Imports (2023)  | 24.26 % of Merchandise Imports | 30.09 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 3,039 USD | 180 USD |
Time to Import Border Compliance (2023)  | 336 Hours | 56 Hours |
Cost to Import Documentary Compliance (2023)  | 765 USD | 80 USD |
Time to Import Documentary Compliance (2023)  | 174 Hours | 35 Hours |
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Exports of Goods and Services (2023)  | 44.25 % of GDP | 27.35 % of GDP |
Total Fuel Exports (2023)  | 0.01 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | 2,222.69 USD | 168 USD |
Time to Export Border Compliance (2023)  | 296 Hours | 36 Hours |
Cost to Export Documentary Compliance (2023)  | 500 USD | 60 USD |
Time to Export Documentary Compliance (2023)  | 192 Hours | 26 Hours |
Indicators | Democratic Republic of the Congo | Micronesia |
|---|---|---|
Gross National Savings (2023)  | 26.46 % of GDP | Yet to Update |
Tax Revenue (2023)  | 11.41 % of GDP | 7.05 % of GDP |
Taxes on Exports (2023)  | 0.21 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 19.55 % of Tax Revenue | 3.4 % of Tax Revenue |
Taxes on International Trade (2023)  | 6.54 % of Revenue | 4.5 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 346 Hours | 128 Hours |
Customs and Other Import Duties (2023)  | 9.62 % of Tax Revenue | 23.63 % of Tax Revenue |
The taxes charged by Democratic Republic of the Congo on international trade is 6.54% of the total revenue and the taxes charged by Micronesia on international trade is 4.5% of the total revenue.
The Taxes charged on International Trade by Democratic Republic of the Congo is 1.45 times more of its total revenue than of Micronesia.
We hope you enjoyed the detailed guide on the standard of living comparsion between Democratic Republic of the Congo and Micronesia.
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