Published: Monday, 21th October 2024
The Standard of living in Jamaica is 1.17 times lesser as compared to Montenegro.
In this page, you will find side-by-side Standard of Living comparison between Jamaica and Montenegro. 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 Jamaica and Montenegro.
 Indicators  | Jamaica  | Montenegro  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $18.761 billion USD | $7.058 billion USD |
GDP Per Capita (2023)  | 6,830 USD | 11,338 USD |
GINI Ratio (2023)  | 0.35 | 0.33 |
Inflation on Consumer Prices (2023)  | 6.47 % annually | 8.58 % annually |
Central Government Debt (2023)  | 106.3 % 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 Jamaica is $18.761 billion USD and that of Montenegro is $7.058 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 Jamaica contributes less to the country's economy compared to a person working in Montenegro.
Indicators | Jamaica | Montenegro |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.706 | 0.844 |
Human Capital Index (HCI) (2024)  | 0.53 | 0.63 |
Literacy Rate (2023)  | 79.92% (15 years+ above age) | 98.98% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 70.1 years | 74.7 years |
Healthy Life Expectancy Ratio (2023)  | 61.7 years | 65.1 years |
Poverty Ratio (2023)  | 19.9% of total Population | 21.2% of total Population |
Unemployment Rate (2023)  | 4.42% of total labor force | 15.25% 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 Jamaica is [ 0.706 ] and the HDI of Montenegro is [ 0.844 ].
The data shows that the people living in Jamaica has lower income, life expectancy and education level compared to Montenegro.
Indicators | Jamaica | Montenegro |
|---|---|---|
Gross National Expenditure (2023)  | 114.04 % of GDP | 118.62 % of GDP |
Total Health Expenditure (2023)  | 7.19 % of GDP | 10.55 % of GDP |
Research and Development Expenditure (2023)  | 0.06 % of GDP | 0.36 % of GDP |
Government Expenditure on Education (2023)  | 5.66 % of GDP | Yet to Update |
International Tourism Expenditure (2023)  | 291 million USD | 38 million USD |
Number of International Tourists Arrivals (2023)  | 1,329,700 | 351,000 |
Military Expenditure (2023)  | 1.31 % of GDP | 1.61 (% of GDP) |
The total Gross National Expenditure of Jamaica is 114.04% of its GDP and the total Gross National Expenditure of Montenegro is 118.62% of its GDP.
From the above data, we can say that Jamaica spends 1.04 times less of its GDP on Gross National Expenditure compared to Montenegro.
Indicators | Jamaica | Montenegro |
|---|---|---|
Number of Doctors (2023)  | 5.5 (Per 10,000 People) | 27.7 (Per 10,000 People) |
Number of Nurses (2023)  | 9.8 (Per 10,000 People) | 56.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.16 (Per 10,000 People) | 2.34 (Per 10,000 People) |
Available Hospital Beds (2023)  | 1.72 (Per 1000 People) | 3.86 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97.7 % of total Population | 97.2 % of total Population |
Jamaica has 5.04 times less Doctors compared to Montenegro (Per 10,000 People).
Jamaica has 5.80 times less Nurses compared to Montenegro (Per 10,000 People).
Indicators | Jamaica | Montenegro |
|---|---|---|
Agricultural Land (2023)  | 4,170 Sq Km | 2,555.6 Sq Km |
Forest Area (2023)  | 6,007.73 Sq Km | 8,270 Sq Km |
CO2 Emissions (2023)  | 0.23 kg per PPP $ of GDP | 0.19 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 82.36 % of total Population | 88.22 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 1.35 Billion cubic meters | 0.16 Billion cubic meters |
100% of the total Population of Jamaica has access to the electricity in their homes, whereas, in case of Montenegro, 100% of the total Population has access to electricity.
Indicators | Jamaica | Montenegro |
|---|---|---|
Time Required to Start a Business (2023)  | 3 Days | 12 Days |
New Businesses Registered (2023)  | 4,818 (New Businesses) | 3,270 (New Businesses) |
New Businesses Registration Density (2023)  | 2.34 (Per 1000 People) | 8 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 4.2 % of GNI Per Capita | 1.2 % of GNI Per Capita |
In the year 2023, 4,818 new businesses got registered in Jamaica and 3,270 new businesses got registered in Montenegro.
It usually takes 3 days in Jamaica and 12 days in Montenegro to register a new business legally and systematically.
Indicators | Jamaica | Montenegro |
|---|---|---|
Imports of Goods and Services (2023)  | 52.07 % of GDP | 69.3 % of GDP |
Total Fuel Imports (2023)  | 30.78 % of Merchandise Imports | 10.36 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 906 USD | 305.56 USD |
Time to Import Border Compliance (2023)  | 80 Hours | 23.22 Hours |
Cost to Import Documentary Compliance (2023)  | 90 USD | 60 USD |
Time to Import Documentary Compliance (2023)  | 56 Hours | 5.5 Hours |
Indicators | Jamaica | Montenegro |
|---|---|---|
Exports of Goods and Services (2023)  | 38.04 % of GDP | 50.69 % of GDP |
Total Fuel Exports (2023)  | 40.39 % of Merchandise Exports | 36.65 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 876 USD | 85 USD |
Time to Export Border Compliance (2023)  | 57.71 Hours | 7.61 Hours |
Cost to Export Documentary Compliance (2023)  | 90 USD | 26 USD |
Time to Export Documentary Compliance (2023)  | 47 Hours | 5.41 Hours |
Indicators | Jamaica | Montenegro |
|---|---|---|
Gross National Savings (2023)  | 22.71 % of GDP | 15.71 % of GDP |
Tax Revenue (2023)  | 25.71 % of GDP | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 45.81 % of Tax Revenue | Yet to Update |
Taxes on International Trade (2023)  | 8.83 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 268 Hours | 300 Hours |
Customs and Other Import Duties (2023)  | 8.99 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Jamaica and Montenegro.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.
