Published: Monday, 21th October 2024
The Standard of living in Malawi is 1.83 times lesser as compared to Guatemala.
In this page, you will find side-by-side Standard of Living comparison between Malawi and Guatemala. 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 Malawi and Guatemala.
 Indicators  | Malawi  | Guatemala  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $13.176 billion USD | $111.384 billion USD |
GDP Per Capita (2023)  | 579 USD | 5,748 USD |
GINI Ratio (2023)  | 0.45 | 0.48 |
Inflation on Consumer Prices (2023)  | 28.79 % annually | 6.21 % annually |
Central Government Debt (2023)  | 52.6 % of GDP | 25.2 % 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 Malawi is $13.176 billion USD and that of Guatemala is $111.384 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 Malawi contributes less to the country's economy compared to a person working in Guatemala.
Indicators | Malawi | Guatemala |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.508 | 0.629 |
Human Capital Index (HCI) (2024)  | 0.41 | 0.46 |
Literacy Rate (2023)  | 68.08% (15 years+ above age) | 84.27% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 62.5 years | 68.7 years |
Healthy Life Expectancy Ratio (2023)  | 54.7 years | 59.3 years |
Poverty Ratio (2023)  | 50.7% of total Population | 59.3% of total Population |
Unemployment Rate (2023)  | 5.04% of total labor force | 2.71% 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 Malawi is [ 0.508 ] and the HDI of Guatemala is [ 0.629 ].
The data shows that the people living in Malawi has lower income, life expectancy and education level compared to Guatemala.
Indicators | Malawi | Guatemala |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 115.75 % of GDP |
Total Health Expenditure (2023)  | 7.41 % of GDP | 6.9 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.06 % of GDP |
Government Expenditure on Education (2023)  | 3.32 % of GDP | 3.23 % of GDP |
International Tourism Expenditure (2023)  | 119 million USD | 346 million USD |
Number of International Tourists Arrivals (2023)  | 871,000 | 594,000 |
Military Expenditure (2023)  | 0.64 % of GDP | 0.46 (% of GDP) |
Indicators | Malawi | Guatemala |
|---|---|---|
Number of Doctors (2023)  | 0.49 (Per 10,000 People) | 12.8 (Per 10,000 People) |
Number of Nurses (2023)  | 7 (Per 10,000 People) | 23.1 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.08 (Per 10,000 People) | 1.22 (Per 10,000 People) |
Available Hospital Beds (2023)  | 1.3 (Per 1000 People) | 0.44 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 96.8 % of total Population | 91.3 % of total Population |
Malawi has 26.12 times less Doctors compared to Guatemala (Per 10,000 People).
Malawi has 3.30 times less Nurses compared to Guatemala (Per 10,000 People).
Indicators | Malawi | Guatemala |
|---|---|---|
Agricultural Land (2023)  | 60,500 Sq Km | 46,120 Sq Km |
Forest Area (2023)  | 21,997 Sq Km | 35,162 Sq Km |
CO2 Emissions (2023)  | 0.05 kg per PPP $ of GDP | 0.09 kg per PPP $ of GDP |
Access to Electricity (2023)  | 14 % of total Population | 99.1 % of total Population |
Access to Internet (2023)  | 24.41 % of total Population | 50.84 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 1.36 Billion cubic meters | 3.32 Billion cubic meters |
14% of the total Population of Malawi has access to the electricity in their homes, whereas, in case of Guatemala, 99.1% of the total Population has access to electricity.
Indicators | Malawi | Guatemala |
|---|---|---|
Time Required to Start a Business (2023)  | 37 Days | 15 Days |
New Businesses Registered (2023)  | 619 (New Businesses) | 8,200 (New Businesses) |
New Businesses Registration Density (2023)  | 0.09 (Per 1000 People) | 0.77 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 32.6 % of GNI Per Capita | 17.3 % of GNI Per Capita |
In the year 2023, 619 new businesses got registered in Malawi and 8,200 new businesses got registered in Guatemala.
It usually takes 37 days in Malawi and 15 days in Guatemala to register a new business legally and systematically.
Indicators | Malawi | Guatemala |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 32.94 % of GDP |
Total Fuel Imports (2023)  | 19.19 % of Merchandise Imports | 16.71 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 143.46 USD | 405 USD |
Time to Import Border Compliance (2023)  | 55.04 Hours | 72 Hours |
Cost to Import Documentary Compliance (2023)  | 161.54 USD | 37 USD |
Time to Import Documentary Compliance (2023)  | 55 Hours | 32 Hours |
Indicators | Malawi | Guatemala |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 17.19 % of GDP |
Total Fuel Exports (2023)  | 0.0001 % of Merchandise Exports | 1.92 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 242.94 USD | 310 USD |
Time to Export Border Compliance (2023)  | 78.12 Hours | 36 Hours |
Cost to Export Documentary Compliance (2023)  | 341.76 USD | 105 USD |
Time to Export Documentary Compliance (2023)  | 75 Hours | 48 Hours |
Indicators | Malawi | Guatemala |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 19.26 % of GDP |
Tax Revenue (2023)  | 12.78 % of GDP | 11.9 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 32.74 % of Tax Revenue | 53.62 % of Tax Revenue |
Taxes on International Trade (2023)  | 7.46 % of Revenue | 4.4 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 169 Hours | 248 Hours |
Customs and Other Import Duties (2023)  | 9.81 % of Tax Revenue | 4.43 % of Tax Revenue |
The taxes charged by Malawi on international trade is 7.46% of the total revenue and the taxes charged by Guatemala on international trade is 4.4% of the total revenue.
The Taxes charged on International Trade by Malawi is 1.70 times more of its total revenue than of Guatemala.
We hope you enjoyed the detailed guide on the standard of living comparsion between Malawi and Guatemala.
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