Image illustrating the map of Rwanda
Comparedoo
Image illustrating the map of South Korea
Header top banner ads

Rwanda vs South Korea (Standard of Living)

Published: Monday, 21th October 2024

Recently Updated: Sunday, 12th January 2025

The Standard of living in Rwanda is 2.53 times lesser as compared to South Korea.

In this page, you will find side-by-side Standard of Living comparison between Rwanda and South Korea. 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 Rwanda and South Korea.

Header top banner ads

Economic Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Gross Domestic Product (GDP)(2023)
Image representing the total Gross Domestic Product of any specific country
$13.927 billion USD$1.761 trillion USD
GDP Per Capita
(2023)
Image representing the total Gross Domestic Product Per Capita of any specific country
1,031 USD34,165 USD
GINI Ratio
(2023)
Image representing the total GINI Ratio or GINI Coefficient of any specific country
0.440.33
Inflation on Consumer Prices
(2023)
Image representing the Percentage of Inflation on consumer prices of any specific country
19.79 % annually3.59 % annually
Central Government Debt
(2023)
Image representing the Central Government Debt of any specific country
48.4 % of GDP51.2 % of GDP
Header top banner ads

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 Rwanda is $13.927 billion USD and that of South Korea is $1.761 trillion 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 Rwanda contributes less to the country's economy compared to a person working in South Korea.

Header top banner ads
Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Human Development Index (HDI) (2024)
Image representing the Human Development Index of any specific country
0.5480.929
Human Capital Index (HCI) (2024)
Image representing the Human Capital Index of any specific country
0.380.8
Literacy Rate
(2023)
Image representing the Literacy Rate of any specific country
78.76% (15 years+ above age)98.8% (15 years+ above age)
Life Expectancy Ratio
(2023)
Image representation of Life Expectancy Ratio any given country
67.5 years83.5 years
Healthy Life Expectancy Ratio
(2023)
Image representation of Healthy Life Expectancy Ratio any given country
58.7 years74.5 years
Poverty Ratio
(2023)
Image representing the Poverty Rate of any specific country
38.2% of total PopulationYet to Update
Unemployment Rate
(2023)
Image representing the Unemployment Rate of any specific country
14.93% of total labor force2.64% 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 Rwanda is [ 0.548 ] and the HDI of South Korea is [ 0.929 ].

The data shows that the people living in Rwanda has lower income, life expectancy and education level compared to South Korea.

Header top banner ads

Government National Expenditure Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Gross National Expenditure
(2023)
Image representing the total Gross National Expenditure of any specific country
115.14 % of GDP99.96 % of GDP
Total Health Expenditure
(2023)
Image representation of total Health Expenditure of any given country
7.32 % of GDP8.3 % of GDP
Research and Development Expenditure (2023)
Image representing the Government Expenditure of any specific country
0.76 % of GDP4.93 % of GDP
Government Expenditure on Education (2023)
Image representing the Government Expenditure of any specific country
4.14 % of GDP5.4 % of GDP
International Tourism Expenditure (2023)
Image representing the International Tourism Expenditure of any specific country
127 million USD16,705 million USD
Number of International Tourists Arrivals (2023)
Image representing the Number of International Tourists Arrival in any specific country
1,634,000Yet to Update
Military Expenditure
(2023)
Image representing the Military Expenditure of any specific country
1.45 % of GDP2.72 (% of GDP)

The total Gross National Expenditure of Rwanda is 115.14% of its GDP and the total Gross National Expenditure of South Korea is 99.96% of its GDP.

From the above data, we can say that Rwanda spends 1.15 times more of its GDP on Gross National Expenditure compared to South Korea.

Header top banner ads

Health System Facilities Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Number of Doctors
(2023)
Visual representation of number of Doctors in any specific country
1.16
(Per 10,000 People)
2.4
(Per 10,000 People)
Number of Nurses
(2023)
Visual representation of number of Nurses in any specific country
9.33
(Per 10,000 People)
10.2
(Per 10,000 People)
Number of Pharmacists
(2023)
Visual representation of number of Pharmacists in any specific country
0.71
(Per 10,000 People)
1.7
(Per 10,000 People)
Available Hospital Beds
(2023)
Visual representation of Available Hospital Beds in any specific country
1.6
(Per 1000 People)
12.43
(Per 1000 People)
Pregnant Women Receiving Prenatal Care (2023)
Visual representation of Pregnant Women Receiving Prenatal Care in any specific country
97.7 % of total PopulationYet to Update

Rwanda has 2.07 times less Doctors compared to South Korea (Per 10,000 People).

Rwanda has 1.09 times less Nurses compared to South Korea (Per 10,000 People).

Header top banner ads

Environmental Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Agricultural Land
(2023)
Image Depicting the total Agricultural Land available in any specific country
20,044.6 Sq Km16,030 Sq Km
Forest Area
(2023)
Image Depicting the total Forest Area available in any specific country
2,770 Sq Km62,770 Sq Km
CO2 Emissions
(2023)
Image Depicting the total CO2 Emissions from any specific country
0.05 kg per PPP $ of GDP0.24 kg per PPP $ of GDP
Access to Electricity
(2023)
Image Depicting the access of electricity in any specific country
50.6 % of total Population100 % of total Population
Access to Internet
(2023)
Image Depicting the access of internet in any specific country
30.46 % of total Population97.17 % of total Population
Annual Fresh Water Withdrawals (2023)
Image Depicting the annual freshwater withdrawals from any specific country
0.61 Billion cubic meters29.2 Billion cubic meters

50.6% of the total Population of Rwanda has access to the electricity in their homes, whereas, in case of South Korea, 100% of the total Population has access to electricity.

Header top banner ads

Business Registration Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Time Required to Start a Business (2023)
Image representing Time Required to Start a Business
4 Days8 Days
New Businesses Registered (2023)
Image representing New Businesses Registered
16,105 (New Businesses)113,180 (New Businesses)
New Businesses Registration Density (2023)
Image representing New Businesses Registration Density
2.13 (Per 1000 People)3.09 (Per 1000 People)
Cost of Business Start-Up Procedures (2023)
Image representing Cost of Business Start-Up Procedures
Yet to Update14.6 % of GNI Per Capita

In the year 2023, 16,105 new businesses got registered in Rwanda and 113,180 new businesses got registered in South Korea.

It usually takes 4 days in Rwanda and 8 days in South Korea to register a new business legally and systematically.

Header top banner ads

Import & Export Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Imports of Goods and Services (2023)
Image representing Imports of Goods and Services
40.56 % of GDP43.94 % of GDP
Total Fuel Imports
(2023)
Image representing Total Fuel Imports
15.33 % of Merchandise Imports29.9 % of Merchandise Imports
Cost to Import Border Compliance (2023)
Image representing Cost to Import Border Compliance
282.14 USD 314.64 USD
Time to Import Border Compliance (2023)
Image representing Time to Import Border Compliance
73.5 Hours6 Hours
Cost to Import Documentary Compliance (2023)
Image representing Cost to Import documentary Compliance
121.07 USD 26.75 USD
Time to Import Documentary Compliance (2023)
Image representing Time to Import Documentary Compliance
48 Hours1 Hour
Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Exports of Goods and Services (2023)
Image representing Exports of Goods and Services
25.42 % of GDP44 % of GDP
Total Fuel Exports
(2023)
Image representing Total Fuel Exports
0.06 % of Merchandise Exports9.47 % of Merchandise Exports
Cost to Export Border Compliance (2023)
Image representing Cost to Export Border Compliance
183.33 USD184.72 USD
Time to Export Border Compliance (2023)
Image representing Time to Export Border Compliance
83.33 Hours13.38 Hours
Cost to Export Documentary Compliance (2023)
Image representing Cost to Export documentary Compliance
110 USD11.1 USD
Time to Export Documentary Compliance (2023)
Image representing Time to Export Documentary Compliance
30 Hours1 Hour
Header top banner ads

Tax Factors Comparison

Image representing an indicator
Indicators
Image illustrating an indicator
Pictorial representation of map of rwanda
Rwanda
Image illustrating the flag of rwanda
Pictorial representation of map of south-korea
South Korea
Image illustrating the flag of south-korea
Gross National Savings
(2023)
Image representing the total Gross National Savings of any specific country
12.53 % of GDP33.77 % of GDP
Tax Revenue
(2023)
Image representing the total tax revenue collection of any specific country
15.07 % of GDP18.44 % of GDP
Taxes on Exports
(2023)
Image representing Taxes on Exports
0.01 % of Tax RevenueYet to Update
Taxes on Goods and Services
(2023)
Image representing Taxes on Goods and Services
27.67 % of Tax Revenue16.89 % of Tax Revenue
Taxes on International Trade
(2023)
Image representing Taxes on International Trade
4.65 % of Revenue1.4 % of Revenue
Time to Prepare and Pay Taxes (2023)
Image representing Time to Prepare and Pay Taxes
90.5 Hours174 Hours
Customs and Other Import Duties (2023)
Image representing Customs and Other Import Duties
8.1 % of Tax Revenue2.46 % of Tax Revenue

The taxes charged by Rwanda on international trade is 4.65% of the total revenue and the taxes charged by South Korea on international trade is 1.4% of the total revenue.

The Taxes charged on International Trade by Rwanda is 3.32 times more of its total revenue than of South Korea.

Header top banner ads

We hope you enjoyed the detailed guide on the standard of living comparsion between Rwanda and South Korea.

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.

Pictorial representation of the map of Rwanda
Rwanda
v/s
Uruguay
Pictorial representation of the map of Uruguay
Pictorial representation of the map of Rwanda
Rwanda
v/s
Senegal
Pictorial representation of the map of Senegal
Pictorial representation of the map of Rwanda
Rwanda
v/s
Mauritius
Pictorial representation of the map of Mauritius
Pictorial representation of the map of Rwanda
Rwanda
v/s
Jamaica
Pictorial representation of the map of Jamaica
Pictorial representation of the map of Rwanda
Rwanda
v/s
Vanuatu
Pictorial representation of the map of Vanuatu
Pictorial representation of the map of Rwanda
Rwanda
v/s
Ireland
Pictorial representation of the map of Ireland
Pictorial representation of the map of Rwanda
Rwanda
v/s
Austria
Pictorial representation of the map of Austria
Pictorial representation of the map of Rwanda
Rwanda
v/s
Brunei Darussalam
Pictorial representation of the map of Brunei Darussalam
Pictorial representation of the map of Rwanda
Rwanda
v/s
Sierra Leone
Pictorial representation of the map of Sierra Leone
Pictorial representation of the map of Rwanda
Rwanda
v/s
Colombia
Pictorial representation of the map of Colombia
Pictorial representation of the map of Rwanda
Rwanda
v/s
Lesotho
Pictorial representation of the map of Lesotho
Pictorial representation of the map of Rwanda
Rwanda
v/s
Turkey
Pictorial representation of the map of Turkey