Published: Monday, 21th October 2024
The Standard of living in Montenegro is 1.50 times better as compared to São Tomé and Príncipe.
In this page, you will find side-by-side Standard of Living comparison between Montenegro and São Tomé and Príncipe. 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 Montenegro and São Tomé and Príncipe.
 Indicators  | Montenegro  | São Tomé and Príncipe  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $7.058 billion USD | $751 million USD |
GDP Per Capita (2023)  | 11,338 USD | 3.17 USD |
GINI Ratio (2023)  | 0.33 | 0.56 |
Inflation on Consumer Prices (2023)  | 8.58 % annually | 21.26 % 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 Montenegro is $7.058 billion USD and that of São Tomé and Príncipe is $751 million 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 Montenegro contributes more to the country's economy compared to a person working in São Tomé and Príncipe.
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.844 | 0.613 |
Human Capital Index (HCI) (2024)  | 0.63 | Yet to Update |
Literacy Rate (2023)  | 98.98% (15 years+ above age) | 93.75% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 74.7 years | 71.2 years |
Healthy Life Expectancy Ratio (2023)  | 65.1 years | 62.4 years |
Poverty Ratio (2023)  | 21.2% of total Population | 55.5% of total Population |
Unemployment Rate (2023)  | 15.25% of total labor force | 14.21% 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 Montenegro is [ 0.844 ] and the HDI of São Tomé and Príncipe is [ 0.613 ].
The data shows that the people living in Montenegro has better income, life expectancy and education level compared to São Tomé and Príncipe.
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Gross National Expenditure (2023)  | 118.62 % of GDP | Yet to Update |
Total Health Expenditure (2023)  | 10.55 % of GDP | 7.83 % of GDP |
Research and Development Expenditure (2023)  | 0.36 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | Yet to Update | 5.16 % of GDP |
International Tourism Expenditure (2023)  | 38 million USD | 3.20 million USD |
Number of International Tourists Arrivals (2023)  | 351,000 | 33,400 |
Military Expenditure (2023)  | 1.61 % of GDP | Yet to Update |
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Number of Doctors (2023)  | 27.7 (Per 10,000 People) | 4.89 (Per 10,000 People) |
Number of Nurses (2023)  | 56.8 (Per 10,000 People) | 21.53 (Per 10,000 People) |
Number of Pharmacists (2023)  | 2.34 (Per 10,000 People) | 1.72 (Per 10,000 People) |
Available Hospital Beds (2023)  | 3.86 (Per 1000 People) | 2.9 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97.2 % of total Population | 98.1 % of total Population |
Montenegro has 5.66 times more Doctors compared to São Tomé and Príncipe (Per 10,000 People).
Montenegro has 2.64 times more Nurses compared to São Tomé and Príncipe (Per 10,000 People).
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Agricultural Land (2023)  | 2,555.6 Sq Km | 420 Sq Km |
Forest Area (2023)  | 8,270 Sq Km | 512.8 Sq Km |
CO2 Emissions (2023)  | 0.19 kg per PPP $ of GDP | 0.13 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 78 % of total Population |
Access to Internet (2023)  | 88.22 % of total Population | 51.2 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.16 Billion cubic meters | 0.04 Billion cubic meters |
100% of the total Population of Montenegro has access to the electricity in their homes, whereas, in case of São Tomé and Príncipe, 78% of the total Population has access to electricity.
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Time Required to Start a Business (2023)  | 12 Days | 7 Days |
New Businesses Registered (2023)  | 3,270 (New Businesses) | 268 (New Businesses) |
New Businesses Registration Density (2023)  | 8 (Per 1000 People) | 2.2 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 1.2 % of GNI Per Capita | 12.4 % of GNI Per Capita |
In the year 2023, 3,270 new businesses got registered in Montenegro and 268 new businesses got registered in São Tomé and Príncipe.
It usually takes 12 days in Montenegro and 7 days in São Tomé and Príncipe to register a new business legally and systematically.
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Imports of Goods and Services (2023)  | 69.3 % of GDP | Yet to Update |
Total Fuel Imports (2023)  | 10.36 % of Merchandise Imports | 29.28 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 305.56 USD | 406 USD |
Time to Import Border Compliance (2023)  | 23.22 Hours | 150 Hours |
Cost to Import Documentary Compliance (2023)  | 60 USD | 75 USD |
Time to Import Documentary Compliance (2023)  | 5.5 Hours | 17 Hours |
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Exports of Goods and Services (2023)  | 50.69 % of GDP | Yet to Update |
Total Fuel Exports (2023)  | 36.65 % of Merchandise Exports | 0.01 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 85 USD | 426.25 USD |
Time to Export Border Compliance (2023)  | 7.61 Hours | 83.13 Hours |
Cost to Export Documentary Compliance (2023)  | 26 USD | 193.75 USD |
Time to Export Documentary Compliance (2023)  | 5.41 Hours | 46.25 Hours |
Indicators | Montenegro | São Tomé and Príncipe |
|---|---|---|
Gross National Savings (2023)  | 15.71 % of GDP | Yet to Update |
Tax Revenue (2023)  | Yet to Update | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | Yet to Update | Yet to Update |
Taxes on International Trade (2023)  | Yet to Update | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 300 Hours | 424 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Montenegro and São Tomé and Príncipe.
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