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Panama vs Maldives (Standard of Living)

Published: Monday, 21th October 2024

Recently Updated: Sunday, 12th January 2025

The Standard of living in Panama is 1.05 times lesser as compared to Maldives.

In this page, you will find side-by-side Standard of Living comparison between Panama and Maldives. 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 Panama and Maldives.

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Economic Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Gross Domestic Product (GDP)(2023)
Image representing the total Gross Domestic Product of any specific country
$82.3 billion USD$11.977 billion USD
GDP Per Capita
(2023)
Image representing the total Gross Domestic Product Per Capita of any specific country
18,493 USD19,558 USD
GINI Ratio
(2023)
Image representing the total GINI Ratio or GINI Coefficient of any specific country
0.500.31
Inflation on Consumer Prices
(2023)
Image representing the Percentage of Inflation on consumer prices of any specific country
1.49 % annually2.33 % annually
Central Government Debt
(2023)
Image representing the Central Government Debt of any specific country
Yet to Update57.3 % of GDP
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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 Panama is $82.3 billion USD and that of Maldives is $11.977 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 Panama contributes less to the country's economy compared to a person working in Maldives.

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Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Human Development Index (HDI) (2024)
Image representing the Human Development Index of any specific country
0.8200.762
Human Capital Index (HCI) (2024)
Image representing the Human Capital Index of any specific country
0.5Yet to Update
Literacy Rate
(2023)
Image representing the Literacy Rate of any specific country
95.74% (15 years+ above age)97.86% (15 years+ above age)
Life Expectancy Ratio
(2023)
Image representation of Life Expectancy Ratio any given country
77.2 years75.4 years
Healthy Life Expectancy Ratio
(2023)
Image representation of Healthy Life Expectancy Ratio any given country
66.7 years66.7 years
Poverty Ratio
(2023)
Image representing the Poverty Rate of any specific country
21.5% of total Population5.4% of total Population
Unemployment Rate
(2023)
Image representing the Unemployment Rate of any specific country
6.7% of total labor force4.13% 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 Panama is [ 0.820 ] and the HDI of Maldives is [ 0.762 ].

The data shows that the people living in Panama has better income, life expectancy and education level compared to Maldives.

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Government National Expenditure Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Gross National Expenditure
(2023)
Image representing the total Gross National Expenditure of any specific country
100.07 % of GDPYet to Update
Total Health Expenditure
(2023)
Image representation of total Health Expenditure of any given country
9.68 % of GDP10.03 % of GDP
Research and Development Expenditure (2023)
Image representing the Government Expenditure of any specific country
0.18 % of GDPYet to Update
Government Expenditure on Education (2023)
Image representing the Government Expenditure of any specific country
3.89 % of GDP4.58 % of GDP
International Tourism Expenditure (2023)
Image representing the International Tourism Expenditure of any specific country
601 million USD106 million USD
Number of International Tourists Arrivals (2023)
Image representing the Number of International Tourists Arrival in any specific country
647,000555,000
Military Expenditure
(2023)
Image representing the Military Expenditure of any specific country
0.97 % of GDPYet to Update
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Health System Facilities Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Number of Doctors
(2023)
Visual representation of number of Doctors in any specific country
17.34
(Per 10,000 People)
21.6
(Per 10,000 People)
Number of Nurses
(2023)
Visual representation of number of Nurses in any specific country
37.5
(Per 10,000 People)
49
(Per 10,000 People)
Number of Pharmacists
(2023)
Visual representation of number of Pharmacists in any specific country
2.3
(Per 10,000 People)
6.84
(Per 10,000 People)
Available Hospital Beds
(2023)
Visual representation of Available Hospital Beds in any specific country
2.25
(Per 1000 People)
4.3
(Per 1000 People)
Pregnant Women Receiving Prenatal Care (2023)
Visual representation of Pregnant Women Receiving Prenatal Care in any specific country
99.1 % of total Population98.7 % of total Population

Panama has 1.25 times less Doctors compared to Maldives (Per 10,000 People).

Panama has 1.31 times less Nurses compared to Maldives (Per 10,000 People).

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Environmental Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Agricultural Land
(2023)
Image Depicting the total Agricultural Land available in any specific country
21,813.16 Sq Km59 Sq Km
Forest Area
(2023)
Image Depicting the total Forest Area available in any specific country
42,024.23 Sq Km8.2 Sq Km
CO2 Emissions
(2023)
Image Depicting the total CO2 Emissions from any specific country
0.08 kg per PPP $ of GDP0.22 kg per PPP $ of GDP
Access to Electricity
(2023)
Image Depicting the access of electricity in any specific country
95 % of total Population100 % of total Population
Access to Internet
(2023)
Image Depicting the access of internet in any specific country
67.51 % of total Population85.76 % of total Population
Annual Fresh Water Withdrawals (2023)
Image Depicting the annual freshwater withdrawals from any specific country
1.21 Billion cubic meters0.005 Billion cubic meters

95% of the total Population of Panama has access to the electricity in their homes, whereas, in case of Maldives, 100% of the total Population has access to electricity.

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Business Registration Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Time Required to Start a Business (2023)
Image representing Time Required to Start a Business
6 Days12 Days
New Businesses Registered (2023)
Image representing New Businesses Registered
13,048 (New Businesses)1,627 (New Businesses)
New Businesses Registration Density (2023)
Image representing New Businesses Registration Density
4.55 (Per 1000 People)4.22 (Per 1000 People)
Cost of Business Start-Up Procedures (2023)
Image representing Cost of Business Start-Up Procedures
5.8 % of GNI Per Capita4.1 % of GNI Per Capita

In the year 2023, 13,048 new businesses got registered in Panama and 1,627 new businesses got registered in Maldives.

It usually takes 6 days in Panama and 12 days in Maldives to register a new business legally and systematically.

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Import & Export Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Imports of Goods and Services (2023)
Image representing Imports of Goods and Services
47.99 % of GDPYet to Update
Total Fuel Imports
(2023)
Image representing Total Fuel Imports
20.08 % of Merchandise Imports21.79 % of Merchandise Imports
Cost to Import Border Compliance (2023)
Image representing Cost to Import Border Compliance
490 USD 980.5 USD
Time to Import Border Compliance (2023)
Image representing Time to Import Border Compliance
24 Hours100 Hours
Cost to Import Documentary Compliance (2023)
Image representing Cost to Import documentary Compliance
50 USD 180.44 USD
Time to Import Documentary Compliance (2023)
Image representing Time to Import Documentary Compliance
6 Hours61.33 Hours
Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Exports of Goods and Services (2023)
Image representing Exports of Goods and Services
47.92 % of GDPYet to Update
Total Fuel Exports
(2023)
Image representing Total Fuel Exports
0.3 % of Merchandise Exports0.16 % of Merchandise Exports
Cost to Export Border Compliance (2023)
Image representing Cost to Export Border Compliance
270 USD595.75 USD
Time to Export Border Compliance (2023)
Image representing Time to Export Border Compliance
24 Hours42 Hours
Cost to Export Documentary Compliance (2023)
Image representing Cost to Export documentary Compliance
60 USD300 USD
Time to Export Documentary Compliance (2023)
Image representing Time to Export Documentary Compliance
6 Hours48 Hours
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Tax Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of panama
Panama
Image illustrating the flag of panama
Pictorial representation of map of maldives
Maldives
Image illustrating the flag of maldives
Gross National Savings
(2023)
Image representing the total Gross National Savings of any specific country
37.15 % of GDPYet to Update
Tax Revenue
(2023)
Image representing the total tax revenue collection of any specific country
7.46 % of GDP19.45 % of GDP
Taxes on Exports
(2023)
Image representing Taxes on Exports
0.000002 % of Tax Revenue0.21 % of Tax Revenue
Taxes on Goods and Services
(2023)
Image representing Taxes on Goods and Services
33.26 % of Tax Revenue42.27 % of Tax Revenue
Taxes on International Trade
(2023)
Image representing Taxes on International Trade
3.79 % of Revenue17.7 % of Revenue
Time to Prepare and Pay Taxes (2023)
Image representing Time to Prepare and Pay Taxes
408 Hours390.5 Hours
Customs and Other Import Duties (2023)
Image representing Customs and Other Import Duties
5.7 % of Tax Revenue18.06 % of Tax Revenue

The taxes charged by Panama on international trade is 3.79% of the total revenue and the taxes charged by Maldives on international trade is 17.7% of the total revenue.

The Taxes charged on International Trade by Panama is 4.67 times less of its total revenue than of Maldives.

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We hope you enjoyed the detailed guide on the standard of living comparsion between Panama and Maldives.

For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.

The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.

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