Published: Monday, 21th October 2024
The Standard of living in Liberia is 2.12 times lesser as compared to Azerbaijan.
In this page, you will find side-by-side Standard of Living comparison between Liberia and Azerbaijan. 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 Liberia and Azerbaijan.
 Indicators  | Liberia  | Azerbaijan  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $4.347 billion USD | $78.749 billion USD |
GDP Per Capita (2023)  | 800 USD | 7,641 USD |
GINI Ratio (2023)  | 0.35 | 0.34 |
Inflation on Consumer Prices (2023)  | 23.56 % annually | 8.79 % annually |
Central Government Debt (2023)  | 20.3 % of GDP | 16.8 % 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 Liberia is $4.347 billion USD and that of Azerbaijan is $78.749 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 Liberia contributes less to the country's economy compared to a person working in Azerbaijan.
Indicators | Liberia | Azerbaijan |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.487 | 0.760 |
Human Capital Index (HCI) (2024)  | 0.32 | 0.58 |
Literacy Rate (2023)  | 48.3% (15 years+ above age) | 99.78% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 63.5 years | 72.9 years |
Healthy Life Expectancy Ratio (2023)  | 54 years | 64 years |
Poverty Ratio (2023)  | 50.9% of total Population | 6% of total Population |
Unemployment Rate (2023)  | 2.94% of total labor force | 5.64% 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 Liberia is [ 0.487 ] and the HDI of Azerbaijan is [ 0.760 ].
The data shows that the people living in Liberia has lower income, life expectancy and education level compared to Azerbaijan.
Indicators | Liberia | Azerbaijan |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 85.53 % of GDP |
Total Health Expenditure (2023)  | 16.62 % of GDP | 4.7 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.15 % of GDP |
Government Expenditure on Education (2023)  | 2.42 % of GDP | 2.9 % of GDP |
International Tourism Expenditure (2023)  | 51 million USD | 439 million USD |
Number of International Tourists Arrivals (2023)  | Yet to Update | 796,000 |
Military Expenditure (2023)  | 1.27 % of GDP | 4.55 (% of GDP) |
Indicators | Liberia | Azerbaijan |
|---|---|---|
Number of Doctors (2023)  | 1.71 (Per 10,000 People) | 30.93 (Per 10,000 People) |
Number of Nurses (2023)  | 4.92 (Per 10,000 People) | 57.2 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.24 (Per 10,000 People) | 1.95 (Per 10,000 People) |
Available Hospital Beds (2023)  | 0.8 (Per 1000 People) | 4.82 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97.8 % of total Population | 91.7 % of total Population |
Liberia has 18.09 times less Doctors compared to Azerbaijan (Per 10,000 People).
Liberia has 11.63 times less Nurses compared to Azerbaijan (Per 10,000 People).
Indicators | Liberia | Azerbaijan |
|---|---|---|
Agricultural Land (2023)  | 19,230.4 Sq Km | 47,806 Sq Km |
Forest Area (2023)  | 75,871.8 Sq Km | 11,432.97 Sq Km |
CO2 Emissions (2023)  | 0.14 kg per PPP $ of GDP | 0.22 kg per PPP $ of GDP |
Access to Electricity (2023)  | 31.8 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 33.63 % of total Population | 86 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.15 Billion cubic meters | 12.59 Billion cubic meters |
31.8% of the total Population of Liberia has access to the electricity in their homes, whereas, in case of Azerbaijan, 100% of the total Population has access to electricity.
Indicators | Liberia | Azerbaijan |
|---|---|---|
Time Required to Start a Business (2023)  | 18 Days | 3.5 Days |
New Businesses Registered (2023)  | 73 (New Businesses) | 15,497 (New Businesses) |
New Businesses Registration Density (2023)  | 0.02 (Per 1000 People) | 2.19 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 6.3 % of GNI Per Capita | 1.2 % of GNI Per Capita |
In the year 2023, 73 new businesses got registered in Liberia and 15,497 new businesses got registered in Azerbaijan.
It usually takes 18 days in Liberia and 3.5 days in Azerbaijan to register a new business legally and systematically.
Indicators | Liberia | Azerbaijan |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 34.57 % of GDP |
Total Fuel Imports (2023)  | 19.75 % of Merchandise Imports | 11.49 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 1,012.5 USD | 300 USD |
Time to Import Border Compliance (2023)  | 217 Hours | 4.14 Hours |
Cost to Import Documentary Compliance (2023)  | 405 USD | 200 USD |
Time to Import Documentary Compliance (2023)  | 144 Hours | 26 Hours |
Indicators | Liberia | Azerbaijan |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 49.05 % of GDP |
Total Fuel Exports (2023)  | 0.004 % of Merchandise Exports | 91.5 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 1,112.5 USD | 214.14 USD |
Time to Export Border Compliance (2023)  | 193 Hours | 11.94 Hours |
Cost to Export Documentary Compliance (2023)  | 330 USD | 150 USD |
Time to Export Documentary Compliance (2023)  | 144 Hours | 28.5 Hours |
Indicators | Liberia | Azerbaijan |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 29.82 % of GDP |
Tax Revenue (2023)  | 12.46 % of GDP | 13.42 % of GDP |
Taxes on Exports (2023)  | 0.12 % of Tax Revenue | 0.03 % of Tax Revenue |
Taxes on Goods and Services (2023)  | Yet to Update | 18.99 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 3.83 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 139.5 Hours | 159 Hours |
Customs and Other Import Duties (2023)  | 39.08 % of Tax Revenue | 9.58 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Liberia and Azerbaijan.
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