Published: Monday, 21th October 2024
The Standard of living in Liechtenstein is 4.88 times better as compared to Ghana.
In this page, you will find side-by-side Standard of Living comparison between Liechtenstein and Ghana. 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 Liechtenstein and Ghana.
 Indicators  | Liechtenstein  | Ghana  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $6.872 billion USD | $76.628 billion USD |
GDP Per Capita (2023)  | 180,000 USD | 2,328 USD |
GINI Ratio (2023)  | 0.28 | 0.44 |
Inflation on Consumer Prices (2023)  | Yet to Update | 38.11 % 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 Liechtenstein is $6.872 billion USD and that of Ghana is $76.628 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 Liechtenstein contributes more to the country's economy compared to a person working in Ghana.
Indicators | Liechtenstein | Ghana |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.942 | 0.602 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.45 |
Literacy Rate (2023)  | 100% (15 years+ above age) | 80.38% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 82.4 years | 66.1 years |
Healthy Life Expectancy Ratio (2023)  | 73.9 years | 57.9 years |
Poverty Ratio (2023)  | Yet to Update | 23.4% of total Population |
Unemployment Rate (2023)  | Yet to Update | 3.08% 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 Liechtenstein is [ 0.942 ] and the HDI of Ghana is [ 0.602 ].
The data shows that the people living in Liechtenstein has better income, life expectancy and education level compared to Ghana.
Indicators | Liechtenstein | Ghana |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 100.96 % of GDP |
Total Health Expenditure (2023)  | 6.9 % of GDP | 4.15 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.38 % of GDP |
Government Expenditure on Education (2023)  | 2.56 % of GDP | 2.9 % of GDP |
International Tourism Expenditure (2023)  | Yet to Update | 946 million USD |
Number of International Tourists Arrivals (2023)  | 58,400 | 897,000 |
Military Expenditure (2023)  | Yet to Update | 0.35 (% of GDP) |
Indicators | Liechtenstein | Ghana |
|---|---|---|
Number of Doctors (2023)  | 2.5 (Per 10,000 People) | 1.27 (Per 10,000 People) |
Number of Nurses (2023)  | 12.1 (Per 10,000 People) | 34.2 (Per 10,000 People) |
Number of Pharmacists (2023)  | 1.8 (Per 10,000 People) | 0.32 (Per 10,000 People) |
Available Hospital Beds (2023)  | Yet to Update | 0.9 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 97.4 % of total Population |
Liechtenstein has 1.97 times more Doctors compared to Ghana (Per 10,000 People).
Liechtenstein has 2.83 times less Nurses compared to Ghana (Per 10,000 People).
Indicators | Liechtenstein | Ghana |
|---|---|---|
Agricultural Land (2023)  | 51.7 Sq Km | 126,037.4 Sq Km |
Forest Area (2023)  | 67 Sq Km | 79,929.33 Sq Km |
CO2 Emissions (2023)  | Yet to Update | 0.1 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 85.1 % of total Population |
Access to Internet (2023)  | 95.57 % of total Population | 68.2 % of total Population |
Annual Fresh Water Withdrawals (2023)  | Yet to Update | 1.45 Billion cubic meters |
100% of the total Population of Liechtenstein has access to the electricity in their homes, whereas, in case of Ghana, 85.1% of the total Population has access to electricity.
Indicators | Liechtenstein | Ghana |
|---|---|---|
Time Required to Start a Business (2023)  | 46 Days | 13 Days |
New Businesses Registered (2023)  | 505 (New Businesses) | 26,354 (New Businesses) |
New Businesses Registration Density (2023)  | 19.41 (Per 1000 People) | 1.32 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 2.2 % of GNI Per Capita | 12.3 % of GNI Per Capita |
In the year 2023, 505 new businesses got registered in Liechtenstein and 26,354 new businesses got registered in Ghana.
It usually takes 46 days in Liechtenstein and 13 days in Ghana to register a new business legally and systematically.
Indicators | Liechtenstein | Ghana |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 35 % of GDP |
Total Fuel Imports (2023)  | Yet to Update | 32.1 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 115 USD | 552.86 USD |
Time to Import Border Compliance (2023)  | 1 Hour | 80 Hours |
Cost to Import Documentary Compliance (2023)  | 27 USD | 474 USD |
Time to Import Documentary Compliance (2023)  | 1.5 Hours | 36 Hours |
Indicators | Liechtenstein | Ghana |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 34.04 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | 24.53 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 115 USD | 490 USD |
Time to Export Border Compliance (2023)  | 1 Hour | 108 Hours |
Cost to Export Documentary Compliance (2023)  | 27 USD | 155 USD |
Time to Export Documentary Compliance (2023)  | 1.5 Hours | 89.33 Hours |
Indicators | Liechtenstein | Ghana |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 17.83 % of GDP |
Tax Revenue (2023)  | Yet to Update | 12.3 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 1.11 % of Tax Revenue |
Taxes on Goods and Services (2023)  | Yet to Update | 32.48 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 10.19 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 49 Hours | 226 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 13.04 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Liechtenstein and Ghana.
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