Published: Monday, 21th October 2024
The Standard of living in Saint Lucia is 2.16 times better as compared to Guinea-Bissau.
In this page, you will find side-by-side Standard of Living comparison between Saint Lucia and Guinea-Bissau. 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 Saint Lucia and Guinea-Bissau.
 Indicators  | Saint Lucia  | Guinea-Bissau  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $2.469 billion USD | $2 billion USD |
GDP Per Capita (2023)  | 13,572 USD | 1,028 USD |
GINI Ratio (2023)  | 0.51 | 0.51 |
Inflation on Consumer Prices (2023)  | 4.07 % annually | 9.39 % annually |
Central Government Debt (2023)  | 45.9 % of GDP | 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 Saint Lucia is $2.469 billion USD and that of Guinea-Bissau is $2 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 Saint Lucia contributes more to the country's economy compared to a person working in Guinea-Bissau.
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.725 | 0.483 |
Human Capital Index (HCI) (2024)  | 0.6 | Yet to Update |
Literacy Rate (2023)  | 96% (15 years+ above age) | 53.9% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 71.1 years | 58.6 years |
Healthy Life Expectancy Ratio (2023)  | 61.8 years | 51.5 years |
Poverty Ratio (2023)  | 25% of total Population | 47.7% of total Population |
Unemployment Rate (2023)  | 11.09% of total labor force | 3.18% 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 Saint Lucia is [ 0.725 ] and the HDI of Guinea-Bissau is [ 0.483 ].
The data shows that the people living in Saint Lucia has better income, life expectancy and education level compared to Guinea-Bissau.
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 109.59 % of GDP |
Total Health Expenditure (2023)  | 6.21 % of GDP | 8.22 % of GDP |
Research and Development Expenditure (2023)  | 0.27 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 4.2 % of GDP | 2.13 % of GDP |
International Tourism Expenditure (2023)  | 28 million USD | 88.90 million USD |
Number of International Tourists Arrivals (2023)  | 432,500 | 52,400 |
Military Expenditure (2023)  | Yet to Update | 1.61 (% of GDP) |
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Number of Doctors (2023)  | 6.5 (Per 10,000 People) | 2.2 (Per 10,000 People) |
Number of Nurses (2023)  | 32.22 (Per 10,000 People) | 10.5 (Per 10,000 People) |
Number of Pharmacists (2023)  | 4.46 (Per 10,000 People) | 0.01 (Per 10,000 People) |
Available Hospital Beds (2023)  | 1.3 (Per 1000 People) | 1 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 96.9 % of total Population | 97 % of total Population |
Saint Lucia has 2.95 times more Doctors compared to Guinea-Bissau (Per 10,000 People).
Saint Lucia has 3.07 times more Nurses compared to Guinea-Bissau (Per 10,000 People).
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Agricultural Land (2023)  | 99.4 Sq Km | 8,151.1 Sq Km |
Forest Area (2023)  | 207.7 Sq Km | 19,715.7 Sq Km |
CO2 Emissions (2023)  | 0.19 kg per PPP $ of GDP | 0.08 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 37.4 % of total Population |
Access to Internet (2023)  | 78.1 % of total Population | 35.15 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.04 Billion cubic meters | 0.17 Billion cubic meters |
100% of the total Population of Saint Lucia has access to the electricity in their homes, whereas, in case of Guinea-Bissau, 37.4% of the total Population has access to electricity.
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Time Required to Start a Business (2023)  | 11 Days | 8.5 Days |
New Businesses Registered (2023)  | 244 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 1.88 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 17 % of GNI Per Capita | 88.8 % of GNI Per Capita |
It usually takes 11 days in Saint Lucia and 8.5 days in Guinea-Bissau to register a new business legally and systematically.
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 28.26 % of GDP |
Total Fuel Imports (2023)  | 11.42 % of Merchandise Imports | 17.44 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 842.05 USD | 550 USD |
Time to Import Border Compliance (2023)  | 26.57 Hours | 84 Hours |
Cost to Import Documentary Compliance (2023)  | 97.5 USD | 205 USD |
Time to Import Documentary Compliance (2023)  | 14.07 Hours | 36 Hours |
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 17.92 % of GDP |
Total Fuel Exports (2023)  | 3.4 % of Merchandise Exports | 0.002 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 717.5 USD | 585 USD |
Time to Export Border Compliance (2023)  | 27 Hours | 118 Hours |
Cost to Export Documentary Compliance (2023)  | 62.5 USD | 160 USD |
Time to Export Documentary Compliance (2023)  | 19 Hours | 60 Hours |
Indicators | Saint Lucia | Guinea-Bissau |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 22.62 % of GDP |
Tax Revenue (2023)  | 18.23 % of GDP | 9.16 % of GDP |
Taxes on Exports (2023)  | Yet to Update | 14.71 % of Tax Revenue |
Taxes on Goods and Services (2023)  | 34.8 % of Tax Revenue | 23.41 % of Tax Revenue |
Taxes on International Trade (2023)  | 29.18 % of Revenue | 18.22 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 110 Hours | 218 Hours |
Customs and Other Import Duties (2023)  | 0.61 % of Tax Revenue | 14.75 % of Tax Revenue |
The taxes charged by Saint Lucia on international trade is 29.18% of the total revenue and the taxes charged by Guinea-Bissau on international trade is 18.22% of the total revenue.
The Taxes charged on International Trade by Saint Lucia is 1.60 times more of its total revenue than of Guinea-Bissau.
We hope you enjoyed the detailed guide on the standard of living comparsion between Saint Lucia and Guinea-Bissau.
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