Published: Monday, 21th October 2024
The Standard of living in Nauru is 1.25 times better as compared to Equatorial Guinea.
In this page, you will find side-by-side Standard of Living comparison between Nauru and Equatorial Guinea. 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 Nauru and Equatorial Guinea.
 Indicators  | Nauru  | Equatorial Guinea  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $150 million USD | $10.041 billion USD |
GDP Per Capita (2023)  | 10,125 USD | 6,502 USD |
GINI Ratio (2023)  | 0.46 | 0.44 |
Inflation on Consumer Prices (2023)  | Yet to Update | 4.79 % 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 Nauru is $150 million USD and that of Equatorial Guinea is $10.041 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 Nauru contributes more to the country's economy compared to a person working in Equatorial Guinea.
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.696 | 0.650 |
Human Capital Index (HCI) (2024)  | 0.51 | Yet to Update |
Literacy Rate (2023)  | 96% (15 years+ above age) | 94.37% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 60.9 years | 61.6 years |
Healthy Life Expectancy Ratio (2023)  | 50.8 years | 53.3 years |
Poverty Ratio (2023)  | 16.8% of total Population | 76.8% of total Population |
Unemployment Rate (2023)  | Yet to Update | 8.67% 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 Nauru is [ 0.696 ] and the HDI of Equatorial Guinea is [ 0.650 ].
The data shows that the people living in Nauru has better income, life expectancy and education level compared to Equatorial Guinea.
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 92.62 % of GDP |
Total Health Expenditure (2023)  | 13.06 % of GDP | 3.4 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | Yet to Update |
Government Expenditure on Education (2023)  | 6.19 % of GDP | 2.19 % of GDP |
International Tourism Expenditure (2023)  | 7.10 million USD | 30 million USD |
Number of International Tourists Arrivals (2023)  | Yet to Update | Yet to Update |
Military Expenditure (2023)  | Yet to Update | 1.1 (% of GDP) |
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Number of Doctors (2023)  | 12.5 (Per 10,000 People) | 3.5 (Per 10,000 People) |
Number of Nurses (2023)  | 70.59 (Per 10,000 People) | 4.37 (Per 10,000 People) |
Number of Pharmacists (2023)  | 1.79 (Per 10,000 People) | 0.07 (Per 10,000 People) |
Available Hospital Beds (2023)  | 5 (Per 1000 People) | 2.1 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 94.5 % of total Population | 91.3 % of total Population |
Nauru has 3.57 times more Doctors compared to Equatorial Guinea (Per 10,000 People).
Nauru has 16.15 times more Nurses compared to Equatorial Guinea (Per 10,000 People).
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Agricultural Land (2023)  | 4 Sq Km | 1,049.2 Sq Km |
Forest Area (2023)  | Yet to Update | 24,400.6 Sq Km |
CO2 Emissions (2023)  | 0.33 kg per PPP $ of GDP | 0.19 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 67 % of total Population |
Access to Internet (2023)  | 83.94 % of total Population | 53.92 % of total Population |
Annual Fresh Water Withdrawals (2023)  | Yet to Update | 0.02 Billion cubic meters |
100% of the total Population of Nauru has access to the electricity in their homes, whereas, in case of Equatorial Guinea, 67% of the total Population has access to electricity.
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Time Required to Start a Business (2023)  | Yet to Update | 33 Days |
New Businesses Registered (2023)  | Yet to Update | Yet to Update |
New Businesses Registration Density (2023)  | Yet to Update | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | Yet to Update | 59.1 % of GNI Per Capita |
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Imports of Goods and Services (2023)  | 113.21 % of GDP | 39.32 % of GDP |
Total Fuel Imports (2023)  | Yet to Update | 2.75 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 985 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 240 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 70 USD |
Time to Import Documentary Compliance (2023)  | Yet to Update | 240 Hours |
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Exports of Goods and Services (2023)  | 54.72 % of GDP | 47.81 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | 1.71 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | 760 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 132 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 85 USD |
Time to Export Documentary Compliance (2023)  | Yet to Update | 154 Hours |
Indicators | Nauru | Equatorial Guinea |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | Yet to Update |
Tax Revenue (2023)  | 44.35 % of GDP | 6.69 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 0.56 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 0.89 % of Tax Revenue | 3.95 % of Tax Revenue |
Taxes on International Trade (2023)  | 6.15 % of Revenue | 1.13 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | Yet to Update | 492 Hours |
Customs and Other Import Duties (2023)  | 21.63 % of Tax Revenue | 3.99 % of Tax Revenue |
The taxes charged by Nauru on international trade is 6.15% of the total revenue and the taxes charged by Equatorial Guinea on international trade is 1.13% of the total revenue.
The Taxes charged on International Trade by Nauru is 5.44 times more of its total revenue than of Equatorial Guinea.
We hope you enjoyed the detailed guide on the standard of living comparsion between Nauru and Equatorial Guinea.
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