Published: Monday, 21th October 2024
The Standard of living in Morocco is 1.02 times better as compared to Cabo Verde.
In this page, you will find side-by-side Standard of Living comparison between Morocco and Cabo Verde. 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 Morocco and Cabo Verde.
 Indicators  | Morocco  | Cabo Verde  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $147.343 billion USD | $2.598 billion USD |
GDP Per Capita (2023)  | 3,979 USD | 4,502 USD |
GINI Ratio (2023)  | 0.40 | 0.42 |
Inflation on Consumer Prices (2023)  | 6.09 % annually | 7.93 % annually |
Central Government Debt (2023)  | 51.2 % 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 Morocco is $147.343 billion USD and that of Cabo Verde is $2.598 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 Morocco contributes less to the country's economy compared to a person working in Cabo Verde.
Indicators | Morocco | Cabo Verde |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.698 | 0.661 |
Human Capital Index (HCI) (2024)  | 0.5 | Yet to Update |
Literacy Rate (2023)  | 77.35% (15 years+ above age) | 91% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 72.6 years | 73.2 years |
Healthy Life Expectancy Ratio (2023)  | 62.3 years | 63.8 years |
Poverty Ratio (2023)  | 4.8% of total Population | 35.2% of total Population |
Unemployment Rate (2023)  | 9.11% of total labor force | 11.99% 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 Morocco is [ 0.698 ] and the HDI of Cabo Verde is [ 0.661 ].
The data shows that the people living in Morocco has better income, life expectancy and education level compared to Cabo Verde.
Indicators | Morocco | Cabo Verde |
|---|---|---|
Gross National Expenditure (2023)  | 108.3 % of GDP | 114.42 % of GDP |
Total Health Expenditure (2023)  | 5.74 % of GDP | 6.9 % of GDP |
Research and Development Expenditure (2023)  | 0.66 % of GDP | 0.07 % of GDP |
Government Expenditure on Education (2023)  | 5.77 % of GDP | 6.04 % of GDP |
International Tourism Expenditure (2023)  | 1,509 million USD | 59 million USD |
Number of International Tourists Arrivals (2023)  | 2,802,000 | 180,000 |
Military Expenditure (2023)  | 3.9 % of GDP | 0.55 (% of GDP) |
The total Gross National Expenditure of Morocco is 108.3% of its GDP and the total Gross National Expenditure of Cabo Verde is 114.42% of its GDP.
From the above data, we can say that Morocco spends 1.06 times less of its GDP on Gross National Expenditure compared to Cabo Verde.
Indicators | Morocco | Cabo Verde |
|---|---|---|
Number of Doctors (2023)  | 7.32 (Per 10,000 People) | 7.91 (Per 10,000 People) |
Number of Nurses (2023)  | 13.9 (Per 10,000 People) | 12.36 (Per 10,000 People) |
Number of Pharmacists (2023)  | 2.6 (Per 10,000 People) | 3.01 (Per 10,000 People) |
Available Hospital Beds (2023)  | 1 (Per 1000 People) | 2.1 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 88.5 % of total Population | 98.8 % of total Population |
Morocco has 1.08 times less Doctors compared to Cabo Verde (Per 10,000 People).
Morocco has 1.12 times more Nurses compared to Cabo Verde (Per 10,000 People).
Indicators | Morocco | Cabo Verde |
|---|---|---|
Agricultural Land (2023)  | 302,910 Sq Km | 790 Sq Km |
Forest Area (2023)  | 57,529.57 Sq Km | 460.2 Sq Km |
CO2 Emissions (2023)  | 0.23 kg per PPP $ of GDP | 0.18 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 97.1 % of total Population |
Access to Internet (2023)  | 88.13 % of total Population | 69.76 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 10.57 Billion cubic meters | 0.03 Billion cubic meters |
100% of the total Population of Morocco has access to the electricity in their homes, whereas, in case of Cabo Verde, 97.1% of the total Population has access to electricity.
Indicators | Morocco | Cabo Verde |
|---|---|---|
Time Required to Start a Business (2023)  | 9 Days | 9 Days |
New Businesses Registered (2023)  | 63,229 (New Businesses) | 7,491 (New Businesses) |
New Businesses Registration Density (2023)  | 2.57 (Per 1000 People) | 18.5 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 3.6 % of GNI Per Capita | 13 % of GNI Per Capita |
In the year 2023, 63,229 new businesses got registered in Morocco and 7,491 new businesses got registered in Cabo Verde.
It usually takes 9 days in Morocco and 9 days in Cabo Verde to register a new business legally and systematically.
Indicators | Morocco | Cabo Verde |
|---|---|---|
Imports of Goods and Services (2023)  | 52.26 % of GDP | 54.14 % of GDP |
Total Fuel Imports (2023)  | 20.77 % of Merchandise Imports | 18.52 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 228.11 USD | 587.5 USD |
Time to Import Border Compliance (2023)  | 57 Hours | 60 Hours |
Cost to Import Documentary Compliance (2023)  | 116.44 USD | 125 USD |
Time to Import Documentary Compliance (2023)  | 26 Hours | 24 Hours |
Indicators | Morocco | Cabo Verde |
|---|---|---|
Exports of Goods and Services (2023)  | 43.95 % of GDP | 39.72 % of GDP |
Total Fuel Exports (2023)  | 1.01 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | 155.77 USD | 641 USD |
Time to Export Border Compliance (2023)  | 6 Hours | 72 Hours |
Cost to Export Documentary Compliance (2023)  | 67 USD | 125 USD |
Time to Export Documentary Compliance (2023)  | 25.62 Hours | 24 Hours |
Indicators | Morocco | Cabo Verde |
|---|---|---|
Gross National Savings (2023)  | 26.78 % of GDP | 20.83 % of GDP |
Tax Revenue (2023)  | 22.12 % of GDP | 18.39 % of GDP |
Taxes on Exports (2023)  | 1.57 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 43.87 % of Tax Revenue | 36.17 % of Tax Revenue |
Taxes on International Trade (2023)  | 4.04 % of Revenue | 15.03 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 155 Hours | 180 Hours |
Customs and Other Import Duties (2023)  | 4.72 % of Tax Revenue | 20.34 % of Tax Revenue |
The taxes charged by Morocco on international trade is 4.04% of the total revenue and the taxes charged by Cabo Verde on international trade is 15.03% of the total revenue.
The Taxes charged on International Trade by Morocco is 3.72 times less of its total revenue than of Cabo Verde.
We hope you enjoyed the detailed guide on the standard of living comparsion between Morocco and Cabo Verde.
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