Published: Monday, 21th October 2024
The Standard of living in Oman is 1.12 times better as compared to Argentina.
In this page, you will find side-by-side Standard of Living comparison between Oman and Argentina. 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 Oman and Argentina.
 Indicators  | Oman  | Argentina  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $108.282 billion USD | $604.260 billion USD |
GDP Per Capita (2023)  | 21,265 USD | 12,812 USD |
GINI Ratio (2023)  | 0.31 | 0.42 |
Inflation on Consumer Prices (2023)  | 0.94 % annually | Yet to Update |
Central Government Debt (2023)  | Yet to Update | 46.6 % of GDP |
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 Oman is $108.282 billion USD and that of Argentina is $604.260 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 Oman contributes more to the country's economy compared to a person working in Argentina.
Indicators | Oman | Argentina |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.819 | 0.849 |
Human Capital Index (HCI) (2024)  | 0.61 | 0.6 |
Literacy Rate (2023)  | 97.34% (15 years+ above age) | 97.19% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 72.5 years | 74.6 years |
Healthy Life Expectancy Ratio (2023)  | 63.2 years | 64.8 years |
Poverty Ratio (2023)  | Yet to Update | 39.2% of total Population |
Unemployment Rate (2023)  | 1.46% of total labor force | 6.18% 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 Oman is [ 0.819 ] and the HDI of Argentina is [ 0.849 ].
The data shows that the people living in Oman has lower income, life expectancy and education level compared to Argentina.
Indicators | Oman | Argentina |
|---|---|---|
Gross National Expenditure (2023)  | 88.86 % of GDP | 102.42 % of GDP |
Total Health Expenditure (2023)  | 4.37 % of GDP | 9.71 % of GDP |
Research and Development Expenditure (2023)  | 0.28 % of GDP | 0.52 % of GDP |
Government Expenditure on Education (2023)  | 4.2 % of GDP | 4.65 % of GDP |
International Tourism Expenditure (2023)  | 1,236 million USD | 2,746 million USD |
Number of International Tourists Arrivals (2023)  | 869,000 | 7,399,000 |
Military Expenditure (2023)  | 5.17 % of GDP | 0.41 (% of GDP) |
The total Gross National Expenditure of Oman is 88.86% of its GDP and the total Gross National Expenditure of Argentina is 102.42% of its GDP.
From the above data, we can say that Oman spends 1.15 times less of its GDP on Gross National Expenditure compared to Argentina.
Indicators | Oman | Argentina |
|---|---|---|
Number of Doctors (2023)  | 19.97 (Per 10,000 People) | 38.95 (Per 10,000 People) |
Number of Nurses (2023)  | 45.07 (Per 10,000 People) | 54.5 (Per 10,000 People) |
Number of Pharmacists (2023)  | 6.18 (Per 10,000 People) | 4.97 (Per 10,000 People) |
Available Hospital Beds (2023)  | 1.47 (Per 1000 People) | 4.99 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 98.6 % of total Population | 95 % of total Population |
Oman has 1.95 times less Doctors compared to Argentina (Per 10,000 People).
Oman has 1.21 times less Nurses compared to Argentina (Per 10,000 People).
Indicators | Oman | Argentina |
|---|---|---|
Agricultural Land (2023)  | 14,662.2 Sq Km | 1,179,577.6 Sq Km |
Forest Area (2023)  | 24.33 Sq Km | 284,636.66 Sq Km |
CO2 Emissions (2023)  | 0.45 kg per PPP $ of GDP | 0.15 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 96.38 % of total Population | 88.38 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 1.63 Billion cubic meters | 37.69 Billion cubic meters |
100% of the total Population of Oman has access to the electricity in their homes, whereas, in case of Argentina, 100% of the total Population has access to electricity.
Indicators | Oman | Argentina |
|---|---|---|
Time Required to Start a Business (2023)  | 4.3 Days | 11.5 Days |
New Businesses Registered (2023)  | 5,804 (New Businesses) | 5,667 (New Businesses) |
New Businesses Registration Density (2023)  | 1.78 (Per 1000 People) | 0.2 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 3.1 % of GNI Per Capita | 5 % of GNI Per Capita |
In the year 2023, 5,804 new businesses got registered in Oman and 5,667 new businesses got registered in Argentina.
It usually takes 4.3 days in Oman and 11.5 days in Argentina to register a new business legally and systematically.
Indicators | Oman | Argentina |
|---|---|---|
Imports of Goods and Services (2023)  | 41.39 % of GDP | 14.05 % of GDP |
Total Fuel Imports (2023)  | 24.15 % of Merchandise Imports | 10.54 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 243.57 USD | 1,200 USD |
Time to Import Border Compliance (2023)  | 39 Hours | 60 Hours |
Cost to Import Documentary Compliance (2023)  | 124 USD | 120 USD |
Time to Import Documentary Compliance (2023)  | 7 Hours | 166 Hours |
Indicators | Oman | Argentina |
|---|---|---|
Exports of Goods and Services (2023)  | 52.53 % of GDP | 12.92 % of GDP |
Total Fuel Exports (2023)  | 74.04 % of Merchandise Exports | 8.81 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 279 USD | 150 USD |
Time to Export Border Compliance (2023)  | 27.5 Hours | 21 Hours |
Cost to Export Documentary Compliance (2023)  | 107.14 USD | 60 USD |
Time to Export Documentary Compliance (2023)  | 7 Hours | 25 Hours |
Indicators | Oman | Argentina |
|---|---|---|
Gross National Savings (2023)  | 17.51 % of GDP | 15.13 % of GDP |
Tax Revenue (2023)  | Yet to Update | 11.15 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 16.41 % of Tax Revenue |
Taxes on Goods and Services (2023)  | Yet to Update | 29.19 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 16.57 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 68 Hours | 311.5 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 6.62 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Oman and Argentina.
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