Published: Monday, 21th October 2024
The Standard of living in Taiwan is 1.03 times lesser as compared to Montenegro.
In this page, you will find side-by-side Standard of Living comparison between Taiwan and Montenegro. 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 Taiwan and Montenegro.
 Indicators  | Taiwan  | Montenegro  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $751.930 billion USD | $7.058 billion USD |
GDP Per Capita (2023)  | 32,339 USD | 11,338 USD |
GINI Ratio (2023)  | 0.34 | 0.33 |
Inflation on Consumer Prices (2023)  | Yet to Update | 8.58 % annually |
Central Government Debt (2023)  | Yet to Update | 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 Taiwan is $751.930 billion USD and that of Montenegro is $7.058 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 Taiwan contributes more to the country's economy compared to a person working in Montenegro.
Indicators | Taiwan | Montenegro |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.926 | 0.844 |
Human Capital Index (HCI) (2024)  | Yet to Update | 0.63 |
Literacy Rate (2023)  | 99% (15 years+ above age) | 98.98% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 81.3 years | 74.7 years |
Healthy Life Expectancy Ratio (2023)  | 73 years | 65.1 years |
Poverty Ratio (2023)  | Yet to Update | 21.2% of total Population |
Unemployment Rate (2023)  | Yet to Update | 15.25% 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 Taiwan is [ 0.926 ] and the HDI of Montenegro is [ 0.844 ].
The data shows that the people living in Taiwan has better income, life expectancy and education level compared to Montenegro.
Indicators | Taiwan | Montenegro |
|---|---|---|
Gross National Expenditure (2023)  | Yet to Update | 118.62 % of GDP |
Total Health Expenditure (2023)  | 6.5 % of GDP | 10.55 % of GDP |
Research and Development Expenditure (2023)  | Yet to Update | 0.36 % of GDP |
Government Expenditure on Education (2023)  | Yet to Update | Yet to Update |
International Tourism Expenditure (2023)  | Yet to Update | 38 million USD |
Number of International Tourists Arrivals (2023)  | Yet to Update | 351,000 |
Military Expenditure (2023)  | Yet to Update | 1.61 (% of GDP) |
Indicators | Taiwan | Montenegro |
|---|---|---|
Number of Doctors (2023)  | 2.3 (Per 10,000 People) | 27.7 (Per 10,000 People) |
Number of Nurses (2023)  | 6.7 (Per 10,000 People) | 56.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | 1.1 (Per 10,000 People) | 2.34 (Per 10,000 People) |
Available Hospital Beds (2023)  | Yet to Update | 3.86 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 97.2 % of total Population |
Taiwan has 12.04 times less Doctors compared to Montenegro (Per 10,000 People).
Taiwan has 8.48 times less Nurses compared to Montenegro (Per 10,000 People).
Indicators | Taiwan | Montenegro |
|---|---|---|
Agricultural Land (2023)  | Yet to Update | 2,555.6 Sq Km |
Forest Area (2023)  | Yet to Update | 8,270 Sq Km |
CO2 Emissions (2023)  | Yet to Update | 0.19 kg per PPP $ of GDP |
Access to Electricity (2023)  | Yet to Update | 100 % of total Population |
Access to Internet (2023)  | Yet to Update | 88.22 % of total Population |
Annual Fresh Water Withdrawals (2023)  | Yet to Update | 0.16 Billion cubic meters |
Indicators | Taiwan | Montenegro |
|---|---|---|
Time Required to Start a Business (2023)  | Yet to Update | 12 Days |
New Businesses Registered (2023)  | Yet to Update | 3,270 (New Businesses) |
New Businesses Registration Density (2023)  | Yet to Update | 8 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | Yet to Update | 1.2 % of GNI Per Capita |
Indicators | Taiwan | Montenegro |
|---|---|---|
Imports of Goods and Services (2023)  | Yet to Update | 69.3 % of GDP |
Total Fuel Imports (2023)  | Yet to Update | 10.36 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 305.56 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 23.22 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 60 USD |
Time to Import Documentary Compliance (2023)  | Yet to Update | 5.5 Hours |
Indicators | Taiwan | Montenegro |
|---|---|---|
Exports of Goods and Services (2023)  | Yet to Update | 50.69 % of GDP |
Total Fuel Exports (2023)  | Yet to Update | 36.65 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | 85 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 7.61 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 26 USD |
Time to Export Documentary Compliance (2023)  | Yet to Update | 5.41 Hours |
Indicators | Taiwan | Montenegro |
|---|---|---|
Gross National Savings (2023)  | Yet to Update | 15.71 % of GDP |
Tax Revenue (2023)  | Yet to Update | Yet to Update |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | Yet to Update | Yet to Update |
Taxes on International Trade (2023)  | Yet to Update | Yet to Update |
Time to Prepare and Pay Taxes (2023)  | Yet to Update | 300 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | Yet to Update |
We hope you enjoyed the detailed guide on the standard of living comparsion between Taiwan and Montenegro.
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