Latvia Latvia

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Latvia, is a country located at Northern Europe, it has an area of 64,590 Km2 and it may be considered quite a small country.

Latvia, with a population of 1,883,008 people, it is one of the least populous country in the world and it has a moderate population density, 29 people per km2.

It's capital is Riga and its currency is Euros

Latvia is holding the 97 position by nominal GDP. Its national debt in 2022 was 15,947 millions of euros (17,569 millions of dollars), ( 40.8% debt-to-GDP ratio) and its public debt per capita is €8,469 euros per inhabitant$9,330 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on August of 2023 and it was 5.3%.

In terms of the human development index (HDI) of Latvia, which is the index used by the United Nations to measure the progress of a country, was 0.863 points in 2021, leaving it in 39th place in the table of 191 countries published.

If the reason to visit Latvia are business, you must know it's in the 19th of the Doing Business ranking , which provides objective measures of business regulations for local firms.

In the tables at the bottom of the page, you can see more information about the economy and demography of Latvia, if you want to see information about other countries click here

Riga: Monthly Temp.
Riga: Monthly Rainfall
Latvia Economy
Qu. GDP Per Capita [+]2023Q25,430K
Annual GDP [+]2022€39,063M
Annual GDP [+]2022$42,225M
GDP per capita [+]2022€20,710
GDP per capita [+]2022$22,424
Quarterly GDP [+]2023Q2€10,225M
Debt (M.€.) [+]202215,947
Debt ($M) [+]202217,569
Debt (%GDP) [+]202240.80%
Debt Per Capita [+]2022€8,469
Debt Per Capita [+]2022$9,330
Deficit (M.€) [+]2022-1,721
Deficit ($M) [+]2022-1,529
Deficit (%GDP) [+]2022-4.40%
Expenditure (M.€) [+]202215,714.1
Expenditure ($M) [+]202216,572.4
Education Expenditure (M.€) [+]20181,237.2
Education Expenditure ($M) [+]20181,461.7
Education Expenditure (%Bud.) [+]201811.15%
Gov. Health Exp. (M.€) [+]20222,311,044,000.0
Gov. Health Exp.($M) [+]20222,433,529,332.0
Gov. Health Exp. (%Bud.) [+]20179.00%
Defence Expenditure (M.€) [+]2021766.6
Defence Expenditure ($M) [+]2021906.5
Defence Expenditure (%Bud.) [+]20214.76%
Expenditure (%GDP) [+]202240.20%
Expenditure Per Capita [+]2022€8,345
Expenditure Per Capita [+]2022$8,801
Education Expenditure P.C [+]2018€642
Education Expenditure P.C [+]2018$756
Gov. Health Exp. P.C. [+]2022€1,232
Gov. Health Exp. P.C. [+]2022$1,297
Defence Expenditure P.C. [+]2021€407
Defence Expenditure P.C. [+]2021$479
Moody's Rating [+]04/29/2022A3
S&P Rating [+]12/06/2022A+
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202259
Competitiveness Ranking [+]201941º
Fragile States Index [+]201844.9
RTI Raking [+]01/01/201990º
Innovation Ranking [+]201834º
Unemployment Rate [+]July 20236.6%
Unemployment rate [+]2023Q26.4%
Unemployed [+]2023Q261K
NMW [+]2023$661.3
NMW [+]2023€620.0
Average Wage [+]2022$17,646
Average Wage [+]2022€16,758
Human Capital Ranking [+]201728º
US Dollar exchange rate [+]09/29/20230.9439
Stock ExchangeYTD % [+]12/30/2023-0.10%
CPI (overall index) [+]August 20235.3%
HICP [+]September 20233.5%
PPI Year on Year [+]August 2023-14.8%
Money Market
Key rates [+]09/20/20234.50%
Doing Business [+]202019º
IPI Year on Year [+]July 2023-8.6%
Passengers vehicles Year [+]December 202216,739
Annual Vehicles/ 1,000 p. [+]December 202211.20
Vehicles / 1,000 people [+]2021457.35
Tax Revenue (%GDP) [+]202130.6%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202231.4%
Annual arrivals [+]20191,934,800
Exports [+]2022€22,982.2M
Exports [+]2022$24,200.3M
Exports % GDP [+]202258.83%
Imports [+]2022€28,121.4M
Imports [+]2022$29,611.8M
Imports % GDP [+]202271.99%
Trade balance [+]2022€-5,139.2M
Trade balance [+]2022$-5,411.6M
Trade balance % GDP [+]2022-13.16%
Retail Sales YoY [+]August 2023-2.8%
Global AgeWatch Ranking [+]201535º
Density [+]202229
Global Peace Ranking [+]202235º
Crude divorce rate [+]20212.50‰
Remittance received ($M) [+]20171,090.0
% Immigrant [+]202012.65%
% Emigrant [+]202020.07%
Birth Rate [+]20228.50‰
Remittance sent ($M) [+]2017335.2
Crude death rate [+]202216.40‰
Fertility Rate [+]20211.57
Crude marriage rate [+]20216.00‰
% risk of poverty [+]202222.5%
Population [+]20221,883,008
Immigrant stock [+]2020239,422
Emigrant stock [+]2020380,010
HDI [+]20210.863
Gender Gap Ranking [+]202226º
Life expectancy [+]202274.80
Suicides [+]2021254
Suicide rate [+]202113.40
Number of homicides [+]202157
Rate Homicides per 100.000 [+]20213.04
Energy and Environment
CO2 Tons per capita [+]20213.85
Consumption GWh [+]20216,917
Generation GWh [+]20215,538
COVID-19 - Deaths [+]09/27/20237,378
COVID-19 - Confirmed [+]09/27/2023975,910
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]09/27/20233,918.20
Doses administered [+]07/11/20222,895,716