Published: Monday, 21th October 2024
The Standard of living in India is 1.24 times lesser as compared to Ecuador.
In this page, you will find side-by-side Standard of Living comparison between India and Ecuador. 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 India and Ecuador.
 Indicators  | India  | Ecuador  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $3.937 trillion USD | $122.762 billion USD |
GDP Per Capita (2023)  | 2,731 USD | 6,630 USD |
GINI Ratio (2023)  | 0.33 | 0.46 |
Inflation on Consumer Prices (2023)  | 5.65 % annually | 2.22 % annually |
Central Government Debt (2023)  | 46.5 % of GDP | 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 India is $3.937 trillion USD and that of Ecuador is $122.762 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 India contributes less to the country's economy compared to a person working in Ecuador.
Indicators | India | Ecuador |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.644 | 0.765 |
Human Capital Index (HCI) (2024)  | 0.49 | 0.59 |
Literacy Rate (2023)  | 76.32% (15 years+ above age) | 93.95% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 67.3 years | 74 years |
Healthy Life Expectancy Ratio (2023)  | 58.1 years | 64.3 years |
Poverty Ratio (2023)  | 21.9% of total Population | 25.2% of total Population |
Unemployment Rate (2023)  | 4.17% of total labor force | 3.37% 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 India is [ 0.644 ] and the HDI of Ecuador is [ 0.765 ].
The data shows that the people living in India has lower income, life expectancy and education level compared to Ecuador.
Indicators | India | Ecuador |
|---|---|---|
Gross National Expenditure (2023)  | 104.58 % of GDP | 99.72 % of GDP |
Total Health Expenditure (2023)  | 3.28 % of GDP | 8.29 % of GDP |
Research and Development Expenditure (2023)  | 0.65 % of GDP | 0.44 % of GDP |
Government Expenditure on Education (2023)  | 4.64 % of GDP | 3.65 % of GDP |
International Tourism Expenditure (2023)  | 15,777 million USD | 533 million USD |
Number of International Tourists Arrivals (2023)  | 17,914,000 | 2,108,000 |
Military Expenditure (2023)  | 2.43 % of GDP | 2.16 (% of GDP) |
The total Gross National Expenditure of India is 104.58% of its GDP and the total Gross National Expenditure of Ecuador is 99.72% of its GDP.
From the above data, we can say that India spends 1.05 times more of its GDP on Gross National Expenditure compared to Ecuador.
Indicators | India | Ecuador |
|---|---|---|
Number of Doctors (2023)  | 7.26 (Per 10,000 People) | 23.1 (Per 10,000 People) |
Number of Nurses (2023)  | 17.3 (Per 10,000 People) | 25.2 (Per 10,000 People) |
Number of Pharmacists (2023)  | 8.6 (Per 10,000 People) | 0.41 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.53 (Per 1000 People) | 1.39 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 85.1 % of total Population | 84.2 % of total Population |
India has 3.18 times less Doctors compared to Ecuador (Per 10,000 People).
India has 1.46 times less Nurses compared to Ecuador (Per 10,000 People).
Indicators | India | Ecuador |
|---|---|---|
Agricultural Land (2023)  | 1,785,279.5 Sq Km | 54,700 Sq Km |
Forest Area (2023)  | 724,264 Sq Km | 124,335.6 Sq Km |
CO2 Emissions (2023)  | 0.23 kg per PPP $ of GDP | 0.17 kg per PPP $ of GDP |
Access to Electricity (2023)  | 99.2 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 46.31 % of total Population | 69.72 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 647.5 Billion cubic meters | 9.92 Billion cubic meters |
99.2% of the total Population of India has access to the electricity in their homes, whereas, in case of Ecuador, 100% of the total Population has access to electricity.
Indicators | India | Ecuador |
|---|---|---|
Time Required to Start a Business (2023)  | 17.5 Days | 48.5 Days |
New Businesses Registered (2023)  | 173,114 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 0.18 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 7.2 % of GNI Per Capita | 33 % of GNI Per Capita |
It usually takes 17.5 days in India and 48.5 days in Ecuador to register a new business legally and systematically.
Indicators | India | Ecuador |
|---|---|---|
Imports of Goods and Services (2023)  | 23.96 % of GDP | 28.78 % of GDP |
Total Fuel Imports (2023)  | 33.2 % of Merchandise Imports | 24.35 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 266.11 USD | 250 USD |
Time to Import Border Compliance (2023)  | 65.3 Hours | 24 Hours |
Cost to Import Documentary Compliance (2023)  | 100 USD | 75 USD |
Time to Import Documentary Compliance (2023)  | 19.88 Hours | 120 Hours |
Indicators | India | Ecuador |
|---|---|---|
Exports of Goods and Services (2023)  | 21.89 % of GDP | 29.07 % of GDP |
Total Fuel Exports (2023)  | 20.71 % of Merchandise Exports | 35.48 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 211.92 USD | 560 USD |
Time to Export Border Compliance (2023)  | 52.12 Hours | 96 Hours |
Cost to Export Documentary Compliance (2023)  | 57.95 USD | 60 USD |
Time to Export Documentary Compliance (2023)  | 11.64 Hours | 24 Hours |
Indicators | India | Ecuador |
|---|---|---|
Gross National Savings (2023)  | 30.56 % of GDP | 23.5 % of GDP |
Tax Revenue (2023)  | 12.02 % of GDP | 13.04 % of GDP |
Taxes on Exports (2023)  | 0.005 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 40.87 % of Tax Revenue | 21.07 % of Tax Revenue |
Taxes on International Trade (2023)  | 4.51 % of Revenue | 6.4 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 251.88 Hours | 664 Hours |
Customs and Other Import Duties (2023)  | 4.95 % of Tax Revenue | 8.33 % of Tax Revenue |
The taxes charged by India on international trade is 4.51% of the total revenue and the taxes charged by Ecuador on international trade is 6.4% of the total revenue.
The Taxes charged on International Trade by India is 1.42 times less of its total revenue than of Ecuador.
We hope you enjoyed the detailed guide on the standard of living comparsion between India and Ecuador.
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