Published: Monday, 21th October 2024
The Standard of living in Vietnam is 1.01 times better as compared to Gabon.
In this page, you will find side-by-side Standard of Living comparison between Vietnam and Gabon. 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 Vietnam and Gabon.
 Indicators  | Vietnam  | Gabon  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $465.814 billion USD | $19.319 billion USD |
GDP Per Capita (2023)  | 4,623 USD | 8,831 USD |
GINI Ratio (2023)  | 0.37 | 0.38 |
Inflation on Consumer Prices (2023)  | 3.25 % annually | 3.63 % 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 Vietnam is $465.814 billion USD and that of Gabon is $19.319 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 Vietnam contributes less to the country's economy compared to a person working in Gabon.
Indicators | Vietnam | Gabon |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.726 | 0.693 |
Human Capital Index (HCI) (2024)  | 0.69 | 0.46 |
Literacy Rate (2023)  | 96.13% (15 years+ above age) | 85.69% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 73.8 years | 65.1 years |
Healthy Life Expectancy Ratio (2023)  | 65.4 years | 56.3 years |
Poverty Ratio (2023)  | 4.8% of total Population | 33.4% of total Population |
Unemployment Rate (2023)  | 1.6% of total labor force | 20.36% 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 Vietnam is [ 0.726 ] and the HDI of Gabon is [ 0.693 ].
The data shows that the people living in Vietnam has better income, life expectancy and education level compared to Gabon.
Indicators | Vietnam | Gabon |
|---|---|---|
Gross National Expenditure (2023)  | 96.29 % of GDP | 60.96 % of GDP |
Total Health Expenditure (2023)  | 4.59 % of GDP | 2.71 % of GDP |
Research and Development Expenditure (2023)  | 0.43 % of GDP | 0.58 % of GDP |
Government Expenditure on Education (2023)  | 2.9 % of GDP | 2.21 % of GDP |
International Tourism Expenditure (2023)  | 4,360 million USD | 346 million USD |
Number of International Tourists Arrivals (2023)  | 3,837,000 | 526,000 |
Military Expenditure (2023)  | 2.28 % of GDP | 1.26 (% of GDP) |
The total Gross National Expenditure of Vietnam is 96.29% of its GDP and the total Gross National Expenditure of Gabon is 60.96% of its GDP.
From the above data, we can say that Vietnam spends 1.58 times more of its GDP on Gross National Expenditure compared to Gabon.
Indicators | Vietnam | Gabon |
|---|---|---|
Number of Doctors (2023)  | 8.33 (Per 10,000 People) | 5.94 (Per 10,000 People) |
Number of Nurses (2023)  | 15.54 (Per 10,000 People) | 26.8 (Per 10,000 People) |
Number of Pharmacists (2023)  | 3.41 (Per 10,000 People) | 0.61 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.6 (Per 1000 People) | 6.3 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 97 % of total Population | 94.7 % of total Population |
Vietnam has 1.40 times more Doctors compared to Gabon (Per 10,000 People).
Vietnam has 1.72 times less Nurses compared to Gabon (Per 10,000 People).
Indicators | Vietnam | Gabon |
|---|---|---|
Agricultural Land (2023)  | 123,600 Sq Km | 21,532.36 Sq Km |
Forest Area (2023)  | 147,189.9 Sq Km | 235,187.2 Sq Km |
CO2 Emissions (2023)  | 0.31 kg per PPP $ of GDP | 0.16 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 93.5 % of total Population |
Access to Internet (2023)  | 78.59 % of total Population | 71.75 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 81.86 Billion cubic meters | 0.14 Billion cubic meters |
100% of the total Population of Vietnam has access to the electricity in their homes, whereas, in case of Gabon, 93.5% of the total Population has access to electricity.
Indicators | Vietnam | Gabon |
|---|---|---|
Time Required to Start a Business (2023)  | 16 Days | 10 Days |
New Businesses Registered (2023)  | 122,487 (New Businesses) | 1,275 (New Businesses) |
New Businesses Registration Density (2023)  | 1.82 (Per 1000 People) | 0.93 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 5.6 % of GNI Per Capita | 13.3 % of GNI Per Capita |
In the year 2023, 122,487 new businesses got registered in Vietnam and 1,275 new businesses got registered in Gabon.
It usually takes 16 days in Vietnam and 10 days in Gabon to register a new business legally and systematically.
Indicators | Vietnam | Gabon |
|---|---|---|
Imports of Goods and Services (2023)  | 89.98 % of GDP | 17.44 % of GDP |
Total Fuel Imports (2023)  | 7.48 % of Merchandise Imports | 4.31 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 373 USD | 1,320 USD |
Time to Import Border Compliance (2023)  | 56 Hours | 84 Hours |
Cost to Import Documentary Compliance (2023)  | 182.5 USD | 170 USD |
Time to Import Documentary Compliance (2023)  | 76 Hours | 120 Hours |
Indicators | Vietnam | Gabon |
|---|---|---|
Exports of Goods and Services (2023)  | 93.81 % of GDP | 56.7 % of GDP |
Total Fuel Exports (2023)  | 1.17 % of Merchandise Exports | 52.31 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 290 USD | 1,633 USD |
Time to Export Border Compliance (2023)  | 55 Hours | 96 Hours |
Cost to Export Documentary Compliance (2023)  | 139.23 USD | 200 USD |
Time to Export Documentary Compliance (2023)  | 50 Hours | 60 Hours |
Indicators | Vietnam | Gabon |
|---|---|---|
Gross National Savings (2023)  | 32.8 % of GDP | 38.38 % of GDP |
Tax Revenue (2023)  | Yet to Update | 9.13 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | Yet to Update | 13.95 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 19.83 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 384 Hours | 632 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 Vietnam and Gabon.
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