Published: Monday, 21th October 2024
The Standard of living in Romania is 1.34 times better as compared to Belize.
In this page, you will find side-by-side Standard of Living comparison between Romania and Belize. 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 Romania and Belize.
 Indicators  | Romania  | Belize  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $369.971 billion USD | $3.218 billion USD |
GDP Per Capita (2023)  | 19,530 USD | 7,141 USD |
GINI Ratio (2023)  | 0.31 | 0.53 |
Inflation on Consumer Prices (2023)  | 10.4 % annually | 4.39 % annually |
Central Government Debt (2023)  | 50.5 % of GDP | 61.4 % 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 Romania is $369.971 billion USD and that of Belize is $3.218 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 Romania contributes more to the country's economy compared to a person working in Belize.
Indicators | Romania | Belize |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.827 | 0.700 |
Human Capital Index (HCI) (2024)  | 0.58 | Yet to Update |
Literacy Rate (2023)  | 99.16% (15 years+ above age) | 80.9% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 72.8 years | 73.3 years |
Healthy Life Expectancy Ratio (2023)  | 63.8 years | 63.8 years |
Poverty Ratio (2023)  | 21.2% of total Population | Yet to Update |
Unemployment Rate (2023)  | 5.59% of total labor force | 8.26% 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 Romania is [ 0.827 ] and the HDI of Belize is [ 0.700 ].
The data shows that the people living in Romania has better income, life expectancy and education level compared to Belize.
Indicators | Romania | Belize |
|---|---|---|
Gross National Expenditure (2023)  | 104.78 % of GDP | 94.19 % of GDP |
Total Health Expenditure (2023)  | 6.48 % of GDP | 4.98 % of GDP |
Research and Development Expenditure (2023)  | 0.47 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 3.25 % of GDP | 5 % of GDP |
International Tourism Expenditure (2023)  | 3,472 million USD | 22.04 million USD |
Number of International Tourists Arrivals (2023)  | 5,023,000 | 487,000 |
Military Expenditure (2023)  | 1.73 % of GDP | 0.86 (% of GDP) |
The total Gross National Expenditure of Romania is 104.78% of its GDP and the total Gross National Expenditure of Belize is 94.19% of its GDP.
From the above data, we can say that Romania spends 1.11 times more of its GDP on Gross National Expenditure compared to Belize.
Indicators | Romania | Belize |
|---|---|---|
Number of Doctors (2023)  | 34.7 (Per 10,000 People) | 10.81 (Per 10,000 People) |
Number of Nurses (2023)  | 80.7 (Per 10,000 People) | 23.5 (Per 10,000 People) |
Number of Pharmacists (2023)  | 11.1 (Per 10,000 People) | 6.99 (Per 10,000 People) |
Available Hospital Beds (2023)  | 6.89 (Per 1000 People) | 1.04 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 72.3 % of total Population | 97.2 % of total Population |
Romania has 3.21 times more Doctors compared to Belize (Per 10,000 People).
Romania has 3.43 times more Nurses compared to Belize (Per 10,000 People).
Indicators | Romania | Belize |
|---|---|---|
Agricultural Land (2023)  | 130,790 Sq Km | 1,820 Sq Km |
Forest Area (2023)  | 69,290.5 Sq Km | 12,658.9 Sq Km |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.18 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 98.6 % of total Population |
Access to Internet (2023)  | 85.5 % of total Population | 61.99 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 6.42 Billion cubic meters | 0.1 Billion cubic meters |
100% of the total Population of Romania has access to the electricity in their homes, whereas, in case of Belize, 98.6% of the total Population has access to electricity.
Indicators | Romania | Belize |
|---|---|---|
Time Required to Start a Business (2023)  | 20 Days | 48 Days |
New Businesses Registered (2023)  | 113,931 (New Businesses) | 1,123 (New Businesses) |
New Businesses Registration Density (2023)  | 9.18 (Per 1000 People) | 4.13 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 0.3 % of GNI Per Capita | 34.3 % of GNI Per Capita |
In the year 2023, 113,931 new businesses got registered in Romania and 1,123 new businesses got registered in Belize.
It usually takes 20 days in Romania and 48 days in Belize to register a new business legally and systematically.
Indicators | Romania | Belize |
|---|---|---|
Imports of Goods and Services (2023)  | 43.91 % of GDP | 52.86 % of GDP |
Total Fuel Imports (2023)  | 8.52 % of Merchandise Imports | 14.8 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 687.5 USD |
Time to Import Border Compliance (2023)  | 0.38 Hour | 30 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 75 USD |
Time to Import Documentary Compliance (2023)  | 0.5 Hour | 36 Hours |
Indicators | Romania | Belize |
|---|---|---|
Exports of Goods and Services (2023)  | 39.13 % of GDP | 53.62 % of GDP |
Total Fuel Exports (2023)  | 5.31 % of Merchandise Exports | 0.17 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | 710 USD |
Time to Export Border Compliance (2023)  | 0.38 Hour | 96 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 50 USD |
Time to Export Documentary Compliance (2023)  | 0.5 Hour | 38 Hours |
Indicators | Romania | Belize |
|---|---|---|
Gross National Savings (2023)  | 18.68 % of GDP | 27.61 % of GDP |
Tax Revenue (2023)  | 16.02 % of GDP | 21.34 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 0.005 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 32.43 % of Tax Revenue | 48.07 % of Tax Revenue |
Taxes on International Trade (2023)  | 0.04 % of Revenue | 14.23 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 163 Hours | 147 Hours |
Customs and Other Import Duties (2023)  | 0.07 % of Tax Revenue | 31.64 % of Tax Revenue |
The taxes charged by Romania on international trade is 0.04% of the total revenue and the taxes charged by Belize on international trade is 14.23% of the total revenue.
The Taxes charged on International Trade by Romania is 355.75 times less of its total revenue than of Belize.
We hope you enjoyed the detailed guide on the standard of living comparsion between Romania and Belize.
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