Published: Monday, 21th October 2024
The Standard of living in Myanmar is 1.24 times lesser as compared to Venezuela.
In this page, you will find side-by-side Standard of Living comparison between Myanmar and Venezuela. 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 Myanmar and Venezuela.
 Indicators  | Myanmar  | Venezuela  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $68.006 billion USD | $92.210 billion USD |
GDP Per Capita (2023)  | 1,250 USD | 3,474 USD |
GINI Ratio (2023)  | 0.31 | 0.45 |
Inflation on Consumer Prices (2023)  | 8.83 % annually | 254.95 % 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 Myanmar is $68.006 billion USD and that of Venezuela is $92.210 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 Myanmar contributes less to the country's economy compared to a person working in Venezuela.
Indicators | Myanmar | Venezuela |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.608 | 0.699 |
Human Capital Index (HCI) (2024)  | 0.48 | Yet to Update |
Literacy Rate (2023)  | 89.07% (15 years+ above age) | 97.6% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 67.8 years | 71.2 years |
Healthy Life Expectancy Ratio (2023)  | 59.8 years | 62 years |
Poverty Ratio (2023)  | 24.8% of total Population | 33.1% of total Population |
Unemployment Rate (2023)  | 2.84% of total labor force | 5.53% 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 Myanmar is [ 0.608 ] and the HDI of Venezuela is [ 0.699 ].
The data shows that the people living in Myanmar has lower income, life expectancy and education level compared to Venezuela.
Indicators | Myanmar | Venezuela |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 114.7 % of GDP |
Total Health Expenditure (2023)  | 5.63 % of GDP | 4.04 % of GDP |
Research and Development Expenditure (2023)  | 0.04 % of GDP | 0.69 % of GDP |
Government Expenditure on Education (2023)  | 2.14 % of GDP | 6.87 % of GDP |
International Tourism Expenditure (2023)  | 214 million USD | 2,920 million USD |
Number of International Tourists Arrivals (2023)  | 903,000 | 429,000 |
Military Expenditure (2023)  | 3.05 % of GDP | 0.65 (% of GDP) |
Indicators | Myanmar | Venezuela |
|---|---|---|
Number of Doctors (2023)  | 7.51 (Per 10,000 People) | 16.64 (Per 10,000 People) |
Number of Nurses (2023)  | 11.03 (Per 10,000 People) | 20.01 (Per 10,000 People) |
Number of Pharmacists (2023)  | 0.79 (Per 10,000 People) | Yet to Update |
Available Hospital Beds (2023)  | 1.04 (Per 1000 People) | 0.87 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 80.7 % of total Population | 97.5 % of total Population |
Myanmar has 2.22 times less Doctors compared to Venezuela (Per 10,000 People).
Myanmar has 1.81 times less Nurses compared to Venezuela (Per 10,000 People).
Indicators | Myanmar | Venezuela |
|---|---|---|
Agricultural Land (2023)  | 129,800 Sq Km | 215,000 Sq Km |
Forest Area (2023)  | 282,541.8 Sq Km | 461,733.6 Sq Km |
CO2 Emissions (2023)  | 0.11 kg per PPP $ of GDP | 0.32 kg per PPP $ of GDP |
Access to Electricity (2023)  | 73.7 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 44.02 % of total Population | 61.6 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 33.23 Billion cubic meters | 22.62 Billion cubic meters |
73.7% of the total Population of Myanmar has access to the electricity in their homes, whereas, in case of Venezuela, 100% of the total Population has access to electricity.
Indicators | Myanmar | Venezuela |
|---|---|---|
Time Required to Start a Business (2023)  | 7 Days | 230 Days |
New Businesses Registered (2023)  | 14,051 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 0.39 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 13.3 % of GNI Per Capita | 211.8 % of GNI Per Capita |
It usually takes 7 days in Myanmar and 230 days in Venezuela to register a new business legally and systematically.
Indicators | Myanmar | Venezuela |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 31.4 % of GDP |
Total Fuel Imports (2023)  | 32.77 % of Merchandise Imports | 0.83 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 456.67 USD | 1,500 USD |
Time to Import Border Compliance (2023)  | 230 Hours | 240 Hours |
Cost to Import Documentary Compliance (2023)  | 210 USD | 400 USD |
Time to Import Documentary Compliance (2023)  | 48 Hours | 1090 Hours |
Indicators | Myanmar | Venezuela |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 16.69 % of GDP |
Total Fuel Exports (2023)  | 24.22 % of Merchandise Exports | 97.68 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 431.67 USD | 1,250 USD |
Time to Export Border Compliance (2023)  | 141.67 Hours | 288 Hours |
Cost to Export Documentary Compliance (2023)  | 140 USD | 375 USD |
Time to Export Documentary Compliance (2023)  | 144 Hours | 528 Hours |
Indicators | Myanmar | Venezuela |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 8.94 % of GDP |
Tax Revenue (2023)  | 6.02 % of GDP | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 24.41 % of Tax Revenue | Yet to Update |
Taxes on International Trade (2023)  | 2.79 % of Revenue | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | 282 Hours | 920 Hours |
Customs and Other Import Duties (2023)  | 6.84 % of Tax Revenue | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Myanmar and Venezuela.
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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