Published: Monday, 21th October 2024
The Standard of living in Ghana is 2.36 times lesser as compared to Belgium.
In this page, you will find side-by-side Standard of Living comparison between Ghana and Belgium. 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 Ghana and Belgium.
 Indicators  | Ghana  | Belgium  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $76.628 billion USD | $655.192 billion USD |
GDP Per Capita (2023)  | 2,328 USD | 55,536 USD |
GINI Ratio (2023)  | 0.44 | 0.25 |
Inflation on Consumer Prices (2023)  | 38.11 % annually | 4.05 % annually |
Central Government Debt (2023)  | Yet to Update | 94 % 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 Ghana is $76.628 billion USD and that of Belgium is $655.192 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 Ghana contributes less to the country's economy compared to a person working in Belgium.
Indicators | Ghana | Belgium |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.602 | 0.942 |
Human Capital Index (HCI) (2024)  | 0.45 | 0.76 |
Literacy Rate (2023)  | 80.38% (15 years+ above age) | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 66.1 years | 81.5 years |
Healthy Life Expectancy Ratio (2023)  | 57.9 years | 69.8 years |
Poverty Ratio (2023)  | 23.4% of total Population | 12.3% of total Population |
Unemployment Rate (2023)  | 3.08% of total labor force | 5.51% 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 Ghana is [ 0.602 ] and the HDI of Belgium is [ 0.942 ].
The data shows that the people living in Ghana has lower income, life expectancy and education level compared to Belgium.
Indicators | Ghana | Belgium |
|---|---|---|
Gross National Expenditure (2023)  | 100.96 % of GDP | 100.93 % of GDP |
Total Health Expenditure (2023)  | 4.15 % of GDP | 11.04 % of GDP |
Research and Development Expenditure (2023)  | 0.38 % of GDP | 3.43 % of GDP |
Government Expenditure on Education (2023)  | 2.9 % of GDP | 6.21 % of GDP |
International Tourism Expenditure (2023)  | 946 million USD | 13,928 million USD |
Number of International Tourists Arrivals (2023)  | 897,000 | 2,584,000 |
Military Expenditure (2023)  | 0.35 % of GDP | 1.18 (% of GDP) |
The total Gross National Expenditure of Ghana is 100.96% of its GDP and the total Gross National Expenditure of Belgium is 100.93% of its GDP.
From the above data, we can say that Ghana spends 1.00 times more of its GDP on Gross National Expenditure compared to Belgium.
Indicators | Ghana | Belgium |
|---|---|---|
Number of Doctors (2023)  | 1.27 (Per 10,000 People) | 32.4 (Per 10,000 People) |
Number of Nurses (2023)  | 34.2 (Per 10,000 People) | 205 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.32 (Per 10,000 People) | 13.07 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.9 (Per 1000 People) | 5.58 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97.4 % of total Population | Yet to Update |
Ghana has 25.51 times less Doctors compared to Belgium (Per 10,000 People).
Ghana has 5.99 times less Nurses compared to Belgium (Per 10,000 People).
Indicators | Ghana | Belgium |
|---|---|---|
Agricultural Land (2023)  | 126,037.4 Sq Km | 13,656.7 Sq Km |
Forest Area (2023)  | 79,929.33 Sq Km | 6,893 Sq Km |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.13 kg per PPP $ of GDP |
Access to Electricity (2023)  | 85.1 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 68.2 % of total Population | 94.01 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 1.45 Billion cubic meters | 4.2 Billion cubic meters |
85.1% of the total Population of Ghana has access to the electricity in their homes, whereas, in case of Belgium, 100% of the total Population has access to electricity.
Indicators | Ghana | Belgium |
|---|---|---|
Time Required to Start a Business (2023)  | 13 Days | 5 Days |
New Businesses Registered (2023)  | 26,354 (New Businesses) | 47,171 (New Businesses) |
New Businesses Registration Density (2023)  | 1.32 (Per 1000 People) | 6.34 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 12.3 % of GNI Per Capita | 5.3 % of GNI Per Capita |
In the year 2023, 26,354 new businesses got registered in Ghana and 47,171 new businesses got registered in Belgium.
It usually takes 13 days in Ghana and 5 days in Belgium to register a new business legally and systematically.
Indicators | Ghana | Belgium |
|---|---|---|
Imports of Goods and Services (2023)  | 35 % of GDP | 87.61 % of GDP |
Total Fuel Imports (2023)  | 32.1 % of Merchandise Imports | 17.06 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 552.86 USD | Yet to Update |
Time to Import Border Compliance (2023)  | 80 Hours | Yet to Update |
Cost to Import Documentary Compliance (2023)  | 474 USD | Yet to Update |
Time to Import Documentary Compliance (2023)  | 36 Hours | 0.5 Hour |
Indicators | Ghana | Belgium |
|---|---|---|
Exports of Goods and Services (2023)  | 34.04 % of GDP | 86.68 % of GDP |
Total Fuel Exports (2023)  | 24.53 % of Merchandise Exports | 13.17 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 490 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 108 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 155 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 89.33 Hours | 0.5 Hour |
Indicators | Ghana | Belgium |
|---|---|---|
Gross National Savings (2023)  | 17.83 % of GDP | 25.21 % of GDP |
Tax Revenue (2023)  | 12.3 % of GDP | 23.09 % of GDP |
Taxes on Exports (2023)  | 1.11 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 32.48 % of Tax Revenue | 25.47 % of Tax Revenue |
Taxes on International Trade (2023)  | 10.19 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 226 Hours | 136 Hours |
Customs and Other Import Duties (2023)  | 13.04 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Ghana and Belgium.
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