Published: Monday, 21th October 2024
The Standard of living in Guinea is 1.97 times lesser as compared to Nauru.
In this page, you will find side-by-side Standard of Living comparison between Guinea and Nauru. 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 Guinea and Nauru.
 Indicators  | Guinea  | Nauru  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $23.205 billion USD | $150 million USD |
GDP Per Capita (2023)  | 1,542 USD | 10,125 USD |
GINI Ratio (2023)  | 0.34 | 0.46 |
Inflation on Consumer Prices (2023)  | 7.8 % annually | Yet to Update |
Central Government Debt (2023)  | Yet to Update | 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 Guinea is $23.205 billion USD and that of Nauru is $150 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 Guinea contributes less to the country's economy compared to a person working in Nauru.
Indicators | Guinea | Nauru |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.472 | 0.696 |
Human Capital Index (HCI) (2024)  | 0.37 | 0.51 |
Literacy Rate (2023)  | 45.33% (15 years+ above age) | 96% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 61.3 years | 60.9 years |
Healthy Life Expectancy Ratio (2023)  | 53.4 years | 50.8 years |
Poverty Ratio (2023)  | 43.7% of total Population | 16.8% of total Population |
Unemployment Rate (2023)  | 5.3% 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 Guinea is [ 0.472 ] and the HDI of Nauru is [ 0.696 ].
The data shows that the people living in Guinea has lower income, life expectancy and education level compared to Nauru.
Indicators | Guinea | Nauru |
|---|---|---|
Gross National Expenditure (2023)  | 87.85 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 3.76 % of GDP | 13.06 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | Yet to Update |
Government Expenditure on Education (2023)  | 1.99 % of GDP | 6.19 % of GDP |
International Tourism Expenditure (2023)  | 1,075.10 million USD | 7.10 million USD |
Number of International Tourists Arrivals (2023)  | 99,000 | Yet to Update |
Military Expenditure (2023)  | 2.04 % of GDP | Yet to Update |
Indicators | Guinea | Nauru |
|---|---|---|
Number of Doctors (2023)  | 2.22 (Per 10,000 People) | 12.5 (Per 10,000 People) |
Number of Nurses (2023)  | 5.73 (Per 10,000 People) | 70.59 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.2 (Per 10,000 People) | 1.79 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.3 (Per 1000 People) | 5 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 80.9 % of total Population | 94.5 % of total Population |
Guinea has 5.63 times less Doctors compared to Nauru (Per 10,000 People).
Guinea has 12.32 times less Nurses compared to Nauru (Per 10,000 People).
Indicators | Guinea | Nauru |
|---|---|---|
Agricultural Land (2023)  | 146,380 Sq Km | 4 Sq Km |
Forest Area (2023)  | 61,490 Sq Km | Yet to Update |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.33 kg per PPP $ of GDP |
Access to Electricity (2023)  | 47.7 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 34.68 % of total Population | 83.94 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.89 Billion cubic meters | Yet to Update |
47.7% of the total Population of Guinea has access to the electricity in their homes, whereas, in case of Nauru, 100% of the total Population has access to electricity.
Indicators | Guinea | Nauru |
|---|---|---|
Time Required to Start a Business (2023)  | 15 Days | Yet to Update |
New Businesses Registered (2023)  | 5,026 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 0.66 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 33.8 % of GNI Per Capita | Yet to Update |
Indicators | Guinea | Nauru |
|---|---|---|
Imports of Goods and Services (2023)  | 29.81 % of GDP | 113.21 % of GDP |
Total Fuel Imports (2023)  | 13.77 % of Merchandise Imports | Yet to Update |
Cost to Import Border Compliance (2023)  | 808.57 USD | Yet to Update |
Time to Import Border Compliance (2023)  | 78.86 Hours | Yet to Update |
Cost to Import Documentary Compliance (2023)  | 180 USD | Yet to Update |
Time to Import Documentary Compliance (2023)  | 156 Hours | Yet to Update |
Indicators | Guinea | Nauru |
|---|---|---|
Exports of Goods and Services (2023)  | 39.17 % of GDP | 54.72 % of GDP |
Total Fuel Exports (2023)  | 0.47 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | 777.78 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 72 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 128.4 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 138.7 Hours | Yet to Update |
Indicators | Guinea | Nauru |
|---|---|---|
Gross National Savings (2023)  | 1.17 % of GDP | Yet to Update |
Tax Revenue (2023)  | 7.44 % of GDP | 44.35 % of GDP |
Taxes on Exports (2023)  | 36.93 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 20.48 % of Tax Revenue | 0.89 % of Tax Revenue |
Taxes on International Trade (2023)  | 35.79 % of Revenue | 6.15 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 400 Hours | Yet to Update |
Customs and Other Import Duties (2023)  | 13.69 % of Tax Revenue | 21.63 % of Tax Revenue |
The taxes charged by Guinea on international trade is 35.79% of the total revenue and the taxes charged by Nauru on international trade is 6.15% of the total revenue.
The Taxes charged on International Trade by Guinea is 5.82 times more of its total revenue than of Nauru.
We hope you enjoyed the detailed guide on the standard of living comparsion between Guinea and Nauru.
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