Published: Monday, 21th October 2024
The Standard of living in Marshall Islands is 1.26 times lesser as compared to Taiwan.
In this page, you will find side-by-side Standard of Living comparison between Marshall Islands and Taiwan. 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 Marshall Islands and Taiwan.
 Indicators  | Marshall Islands  | Taiwan  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $220 million USD | $751.930 billion USD |
GDP Per Capita (2023)  | 3,866 USD | 32,339 USD |
GINI Ratio (2023)  | 0.51 | 0.34 |
Inflation on Consumer Prices (2023)  | Yet to Update | Yet to Update |
Central Government Debt (2023)  | 41.7 % 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 Marshall Islands is $220 million USD and that of Taiwan is $751.930 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 Marshall Islands contributes less to the country's economy compared to a person working in Taiwan.
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.731 | 0.926 |
Human Capital Index (HCI) (2024)  | 0.42 | Yet to Update |
Literacy Rate (2023)  | 98.27% (15 years+ above age) | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 72.5 years | 81.3 years |
Healthy Life Expectancy Ratio (2023)  | 63.4 years | 73 years |
Poverty Ratio (2023)  | 7.2% of total Population | Yet to Update |
Unemployment Rate (2023)  | Yet to Update | Yet to Update |
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 Marshall Islands is [ 0.731 ] and the HDI of Taiwan is [ 0.926 ].
The data shows that the people living in Marshall Islands has lower income, life expectancy and education level compared to Taiwan.
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Gross National Expenditure (2023)  | 149.2 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 12.55 % of GDP | 6.5 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | Yet to Update |
Government Expenditure on Education (2023)  | 6.98 % of GDP | Yet to Update |
International Tourism Expenditure (2023)  | 31.40 million USD | Yet to Update |
Number of International Tourists Arrivals (2023)  | 6,100 | Yet to Update |
Military Expenditure (2023)  | Yet to Update | Yet to Update |
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Number of Doctors (2023)  | 4.6 (Per 10,000 People) | 2.3 (Per 10,000 People) |
Number of Nurses (2023)  | 42.4 (Per 10,000 People) | 6.7 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.77 (Per 10,000 People) | 1.1 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.7 (Per 1000 People) | Yet to Update |
Pregnant Women Receiving Prenatal Care (2023)  | 81.2 % of total Population | Yet to Update |
Marshall Islands has 2.00 times more Doctors compared to Taiwan (Per 10,000 People).
Marshall Islands has 6.33 times more Nurses compared to Taiwan (Per 10,000 People).
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Agricultural Land (2023)  | 70 Sq Km | Yet to Update |
Forest Area (2023)  | 94 Sq Km | Yet to Update |
CO2 Emissions (2023)  | 0.42 kg per PPP $ of GDP | Yet to Update |
Access to Electricity (2023)  | 100 % of total Population | Yet to Update |
Access to Internet (2023)  | 38.7 % of total Population | Yet to Update |
Annual Fresh Water Withdrawals (2023)  | Yet to Update | Yet to Update |
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Time Required to Start a Business (2023)  | 17 Days | Yet to Update |
New Businesses Registered (2023)  | 5 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 0.19 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 12.9 % of GNI Per Capita | Yet to Update |
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Imports of Goods and Services (2023)  | 73.67 % of GDP | Yet to Update |
Total Fuel Imports (2023)  | Yet to Update | Yet to Update |
Cost to Import Border Compliance (2023)  | 297.5 USD | Yet to Update |
Time to Import Border Compliance (2023)  | 84 Hours | Yet to Update |
Cost to Import Documentary Compliance (2023)  | 42.5 USD | Yet to Update |
Time to Import Documentary Compliance (2023)  | 60 Hours | Yet to Update |
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Exports of Goods and Services (2023)  | 46.27 % of GDP | Yet to Update |
Total Fuel Exports (2023)  | Yet to Update | Yet to Update |
Cost to Export Border Compliance (2023)  | 297.5 USD | Yet to Update |
Time to Export Border Compliance (2023)  | 60 Hours | Yet to Update |
Cost to Export Documentary Compliance (2023)  | 20 USD | Yet to Update |
Time to Export Documentary Compliance (2023)  | 24 Hours | Yet to Update |
Indicators | Marshall Islands | Taiwan |
|---|---|---|
Gross National Savings (2023)  | 11.74 % of GDP | Yet to Update |
Tax Revenue (2023)  | 17.23 % of GDP | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 8.39 % of Tax Revenue | Yet to Update |
Taxes on International Trade (2023)  | 5.41 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 56 Hours | Yet to Update |
Customs and Other Import Duties (2023)  | 22.34 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Marshall Islands and Taiwan.
For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.
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