Published: Monday, 21th October 2024
The Standard of living in Guinea is 1.28 times lesser as compared to Senegal.
In this page, you will find side-by-side Standard of Living comparison between Guinea and Senegal. 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 Senegal.
 Indicators  | Guinea  | Senegal  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $23.205 billion USD | $31.141 billion USD |
GDP Per Capita (2023)  | 1,542 USD | 1,714 USD |
GINI Ratio (2023)  | 0.34 | 0.40 |
Inflation on Consumer Prices (2023)  | 7.8 % annually | 9.7 % annually |
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 Senegal is $31.141 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 Guinea contributes less to the country's economy compared to a person working in Senegal.
Indicators | Guinea | Senegal |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.472 | 0.517 |
Human Capital Index (HCI) (2024)  | 0.37 | 0.42 |
Literacy Rate (2023)  | 45.33% (15 years+ above age) | 57.67% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 61.3 years | 67.8 years |
Healthy Life Expectancy Ratio (2023)  | 53.4 years | 58.9 years |
Poverty Ratio (2023)  | 43.7% of total Population | 46.7% of total Population |
Unemployment Rate (2023)  | 5.3% of total labor force | 2.93% 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 Guinea is [ 0.472 ] and the HDI of Senegal is [ 0.517 ].
The data shows that the people living in Guinea has lower income, life expectancy and education level compared to Senegal.
Indicators | Guinea | Senegal |
|---|---|---|
Gross National Expenditure (2023)  | 87.85 % of GDP | 118.06 % of GDP |
Total Health Expenditure (2023)  | 3.76 % of GDP | 4.35 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.58 % of GDP |
Government Expenditure on Education (2023)  | 1.99 % of GDP | 5.64 % of GDP |
International Tourism Expenditure (2023)  | 1,075.10 million USD | 324 million USD |
Number of International Tourists Arrivals (2023)  | 99,000 | 1,376,000 |
Military Expenditure (2023)  | 2.04 % of GDP | 1.57 (% of GDP) |
The total Gross National Expenditure of Guinea is 87.85% of its GDP and the total Gross National Expenditure of Senegal is 118.06% of its GDP.
From the above data, we can say that Guinea spends 1.34 times less of its GDP on Gross National Expenditure compared to Senegal.
Indicators | Guinea | Senegal |
|---|---|---|
Number of Doctors (2023)  | 2.22 (Per 10,000 People) | 1.01 (Per 10,000 People) |
Number of Nurses (2023)  | 5.73 (Per 10,000 People) | 5.5 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.2 (Per 10,000 People) | 0.17 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.3 (Per 1000 People) | 0.3 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 80.9 % of total Population | 97.6 % of total Population |
Guinea has 2.20 times more Doctors compared to Senegal (Per 10,000 People).
Guinea has 1.04 times more Nurses compared to Senegal (Per 10,000 People).
Indicators | Guinea | Senegal |
|---|---|---|
Agricultural Land (2023)  | 146,380 Sq Km | 95,110 Sq Km |
Forest Area (2023)  | 61,490 Sq Km | 80,281.6 Sq Km |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.17 kg per PPP $ of GDP |
Access to Electricity (2023)  | 47.7 % of total Population | 67.9 % of total Population |
Access to Internet (2023)  | 34.68 % of total Population | 58.05 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.89 Billion cubic meters | 3.06 Billion cubic meters |
47.7% of the total Population of Guinea has access to the electricity in their homes, whereas, in case of Senegal, 67.9% of the total Population has access to electricity.
Indicators | Guinea | Senegal |
|---|---|---|
Time Required to Start a Business (2023)  | 15 Days | 6 Days |
New Businesses Registered (2023)  | 5,026 (New Businesses) | 12,455 (New Businesses) |
New Businesses Registration Density (2023)  | 0.66 (Per 1000 People) | 1.3 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 33.8 % of GNI Per Capita | 22.6 % of GNI Per Capita |
In the year 2023, 5,026 new businesses got registered in Guinea and 12,455 new businesses got registered in Senegal.
It usually takes 15 days in Guinea and 6 days in Senegal to register a new business legally and systematically.
Indicators | Guinea | Senegal |
|---|---|---|
Imports of Goods and Services (2023)  | 29.81 % of GDP | 43.88 % of GDP |
Total Fuel Imports (2023)  | 13.77 % of Merchandise Imports | 31.63 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 808.57 USD | 701.67 USD |
Time to Import Border Compliance (2023)  | 78.86 Hours | 53.33 Hours |
Cost to Import Documentary Compliance (2023)  | 180 USD | 545 USD |
Time to Import Documentary Compliance (2023)  | 156 Hours | 72 Hours |
Indicators | Guinea | Senegal |
|---|---|---|
Exports of Goods and Services (2023)  | 39.17 % of GDP | 25.56 % of GDP |
Total Fuel Exports (2023)  | 0.47 % of Merchandise Exports | 18.25 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 777.78 USD | 546.73 USD |
Time to Export Border Compliance (2023)  | 72 Hours | 61.45 Hours |
Cost to Export Documentary Compliance (2023)  | 128.4 USD | 96 USD |
Time to Export Documentary Compliance (2023)  | 138.7 Hours | 26 Hours |
Indicators | Guinea | Senegal |
|---|---|---|
Gross National Savings (2023)  | 1.17 % of GDP | 26 % of GDP |
Tax Revenue (2023)  | 7.44 % of GDP | 18.7 % of GDP |
Taxes on Exports (2023)  | 36.93 % of Tax Revenue | 0.15 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 20.48 % of Tax Revenue | 40.8 % of Tax Revenue |
Taxes on International Trade (2023)  | 35.79 % of Revenue | 12.51 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 400 Hours | 416 Hours |
Customs and Other Import Duties (2023)  | 13.69 % of Tax Revenue | 15.56 % of Tax Revenue |
The taxes charged by Guinea on international trade is 35.79% of the total revenue and the taxes charged by Senegal on international trade is 12.51% of the total revenue.
The Taxes charged on International Trade by Guinea is 2.86 times more of its total revenue than of Senegal.
We hope you enjoyed the detailed guide on the standard of living comparsion between Guinea and Senegal.
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