Country comparison Latvia vs Palau

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Gouvernement
GDP Growth (%) [+]20252.1%chart1.4%2023GDP Growth (%) [+]
Qu. GDP Per Capita [+]2025Q45,942K
Annual GDP [+]2025€43,026Mchart€254M2023Annual GDP [+]
Annual GDP [+]2025$48,619Mchart$275M2023Annual GDP [+]
GDP per capita [+]2025€23,410chart€14,4452023GDP per capita [+]
GDP per capita [+]2025$26,131chart$15,6232023GDP per capita [+]
Quarterly GDP [+]2025Q4€11,055M
Debt (M.€.) [+]202418,802chart1952023Debt (M.€.) [+]
Debt ($M) [+]202420,343chart2112023Debt ($M) [+]
Debt (%GDP) [+]202446.60%chart76.77%2023Debt (%GDP) [+]
Debt Per Capita [+]2024€10,105chart€10,8382023Debt Per Capita [+]
Debt Per Capita [+]2024$10,934chart$11,7222023Debt Per Capita [+]
Deficit (M.€) [+]2024-732chart32023Deficit (M.€) [+]
Deficit ($M) [+]2024-793chart32023Deficit ($M) [+]
Deficit (%GDP) [+]2024-1.80%chart1.02%2023Deficit (%GDP) [+]
Expenditure (M.€) [+]202418,418.9chart126.72023Expenditure (M.€) [+]
Expenditure ($M) [+]202419,346.4chart137.02023Expenditure ($M) [+]
Education Expenditure (M.€) [+]20221,558.9chart8.72023Education Expenditure (M.€) [+]
Education Expenditure ($M) [+]20221,642.1chart9.52023Education Expenditure ($M) [+]
Education Expenditure (%Bud.) [+]20229.92%chart9.13%2025Education Expenditure (%Bud.) [+]
Gov. Health Exp. (M.€) [+]20241,847.5chart16.82023Gov. Health Exp. (M.€) [+]
Gov. Health Exp.($M) [+]20241,999.7chart18.22023Gov. Health Exp.($M) [+]
Gov. Health Exp. (%Bud.) [+]20239.91%chart13.26%2023Gov. Health Exp. (%Bud.) [+]
Defence Expenditure (M.€) [+]20241,324.4
Defence Expenditure ($M) [+]20241,423.2
Defence Expenditure (%Bud.) [+]20247.49%
Expenditure (%GDP) [+]202445.60%chart49.84%2023Expenditure (%GDP) [+]
Expenditure Per Capita [+]2024€9,900chart€7,0372023Expenditure Per Capita [+]
Expenditure Per Capita [+]2024$10,398chart$7,6112023Expenditure Per Capita [+]
Education Expenditure P.C [+]2022€826chart€4972023Education Expenditure P.C [+]
Education Expenditure P.C [+]2022$876chart$5372023Education Expenditure P.C [+]
Gov. Health Exp. P.C. [+]2024€987chart€9482023Gov. Health Exp. P.C. [+]
Gov. Health Exp. P.C. [+]2024$1,068chart$1,0252023Gov. Health Exp. P.C. [+]
Defence Expenditure P.C. [+]2024€710
Defence Expenditure P.C. [+]2024$757
Moody's Rating [+]01/26/2024A3
S&P Rating [+]05/31/2024A
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202360
Competitiveness Ranking [+]201941º
Fragile States Index [+]202441.4
RTI Raking [+]2024107ºchart140º2024RTI Raking [+]
Innovation Ranking [+]202442º
Labour
Unemployment Rate [+]January 20266.9%
Unemployment rate [+]2025Q36.9%
Unemployed [+]2025Q366K
NMW [+]2026$916.5chart$883.02024NMW [+]
NMW [+]2026€780.0chart€799.12024NMW [+]
Average Wage [+]2024$21,838
Average Wage [+]2024€20,176
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]03/11/20260.8635
Stock ExchangeYTD % [+]03/11/2026-2.80%
Prices
CPI (overall index) [+]February 20262.3%
PPI Year on Year [+]January 20261.2%
Money Market
Key rates [+]06/11/20252.15%
Business
Doing Business [+]202019ºchart145º2020Doing Business [+]
IPI Year on Year [+]January 202613.3%
Passengers vehicles Year [+]December 202433,318
Annual Vehicles/ 1,000 p. [+]December 202211.20
Vehicles / 1,000 people [+]2021457.35
Taxes
Tax Revenue (%GDP) [+]202435.4%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202231.4%
Trade
Annual arrivals [+]2021478,000chart18,4002020Annual arrivals [+]
Exports [+]2025€19,604.9Mchart€1.7M2023Exports [+]
Exports [+]2025$22,153.1Mchart$1.9M2023Exports [+]
Exports % GDP [+]202545.57%chart0.68%2023Exports % GDP [+]
Imports [+]2025€23,255.2Mchart€224.0M2023Imports [+]
Imports [+]2025$26,277.9Mchart$242.2M2023Imports [+]
Imports % GDP [+]202554.05%chart88.09%2023Imports % GDP [+]
Trade balance [+]2025€-3,650.3Mchart€-222.2M2023Trade balance [+]
Trade balance [+]2025$-4,124.8Mchart$-240.4M2023Trade balance [+]
Trade balance % GDP [+]2025-8.48%chart-87.41%2023Trade balance % GDP [+]
Retail Sales YoY [+]January 20265.9%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202429chart392024Density [+]
Global Peace Ranking [+]202430º
Crude divorce rate [+]20242.80‰
Remittance received ($M) [+]20171,090.0chart2.42017Remittance received ($M) [+]
% Immigrant [+]202012.65%chart28.27%2020% Immigrant [+]
% Emigrant [+]202020.07%chart14.76%2020% Emigrant [+]
Birth Rate [+]20246.90‰chart10.90‰2023Birth Rate [+]
Remittance sent ($M) [+]2017335.2chart18.12017Remittance sent ($M) [+]
Crude death rate [+]202414.30‰chart11.50‰2023Crude death rate [+]
Fertility Rate [+]20241.24chart1.912023Fertility Rate [+]
Crude marriage rate [+]20245.50‰
% risk of poverty [+]202522.0%chart24.9%2006% risk of poverty [+]
Population [+]20241,860,565chart18,0002024Population [+]
Immigrant stock [+]2020239,422chart5,0882020Immigrant stock [+]
Emigrant stock [+]2020380,010chart2,6562020Emigrant stock [+]
HDI [+]20220.879chart0.7972022HDI [+]
Gender Gap Ranking [+]202430º
Life expectancy [+]202476.40chart69.272023Life expectancy [+]
Suicides [+]2023267
Suicide rate [+]202314.20
Number of homicides [+]202347chart22018Number of homicides [+]
Rate Homicides per 100.000 [+]20232.50chart11.232018Rate Homicides per 100.000 [+]
Energy and Environment
CO2 Tons per capita [+]20233.56chart62.592023CO2 Tons per capita [+]
Consumption GWh [+]20246,623
Generation GWh [+]20245,913
Others
COVID-19 - Deaths [+]02/08/20267,710chart1002/08/2026COVID-19 - Deaths [+]
COVID-19 - Confirmed [+]02/08/2026977,795chart6,37202/08/2026COVID-19 - Confirmed [+]
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]02/08/20264,143.90chart555.5602/08/2026COVID-19 - Deaths per million population [+]
Doses administered [+]12/23/20232,979,624chart31,93111/04/2021Doses administered [+]
Latvia
Palau
  • Capital: Ngerulmud
  • Population: 18,000
  • Surface Area: 460 km2
  • Currency: United States dollars
  • Religion: Mostly Christianity
  • Belongs to: ACP, IMF, UN, PIF