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 15,948 millions of euros (16,806 millions of dollars), ( 41% debt-to-GDP ratio) and its public debt per capita is €8,470 euros per inhabitant$8,925 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on February of 2024 and it was 0.4%.

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
Gouvernement
Qu. GDP Per Capita [+]2023Q45,377K
Annual GDP [+]2023€40,310M
Annual GDP [+]2022$41,167M
GDP per capita [+]2023€21,420
GDP per capita [+]2022$21,947
Quarterly GDP [+]2023Q4€10,200M
Debt (M.€.) [+]202215,948
Debt ($M) [+]202216,806
Debt (%GDP) [+]202241.00%
Debt Per Capita [+]2022€8,470
Debt Per Capita [+]2022$8,925
Deficit (M.€) [+]2022-1,789
Deficit ($M) [+]2022-1,529
Deficit (%GDP) [+]2022-4.60%
Expenditure (M.€) [+]202215,713.4
Expenditure ($M) [+]202216,572.0
Education Expenditure (M.€) [+]20181,237.2
Education Expenditure ($M) [+]20181,461.7
Education Expenditure (%Bud.) [+]201811.15%
Gov. Health Exp. (M.€) [+]20222,311,044,000.0
Gov. Health Exp.($M) [+]20222,433,529,332.0
Gov. Health Exp. (%Bud.) [+]20179.00%
Defence Expenditure (M.€) [+]2022796.8
Defence Expenditure ($M) [+]2022843.9
Defence Expenditure (%Bud.) [+]20225.16%
Expenditure (%GDP) [+]202240.40%
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. [+]2022€422
Defence Expenditure P.C. [+]2022$450
Moody's Rating [+]01/26/2024A3
S&P Rating [+]12/06/2022A+
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202259
Competitiveness Ranking [+]201941º
Fragile States Index [+]201844.9
RTI Raking [+]2022106º
Innovation Ranking [+]201834º
Labour
Unemployment Rate [+]January 20246.9%
Unemployment rate [+]2023Q46.8%
Unemployed [+]2023Q464K
NMW [+]2023$662.4
NMW [+]2024€700.0
Average Wage [+]2022$17,646
Average Wage [+]2022€16,758
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]03/18/20240.9181
Stock ExchangeYTD % [+]03/18/202414.56%
Prices
CPI (overall index) [+]February 20240.4%
HICP [+]February 20240.6%
PPI Year on Year [+]January 2024-12.3%
Money Market
Key rates [+]09/20/20234.50%
Business
Doing Business [+]202019º
IPI Year on Year [+]January 2024-5.0%
Passengers vehicles Year [+]December 202216,739
Annual Vehicles/ 1,000 p. [+]December 202211.20
Vehicles / 1,000 people [+]2021457.35
Taxes
Tax Revenue (%GDP) [+]202230.5%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202231.4%
Trade
Annual arrivals [+]20191,934,800
Exports [+]2023€20,911.0M
Exports [+]2023$20,736.2M
Exports % GDP [+]202259.06%
Imports [+]2023€25,127.5M
Imports [+]2023$24,834.5M
Imports % GDP [+]202272.35%
Trade balance [+]2023€-4,216.6M
Trade balance [+]2023$-4,495.7M
Trade balance % GDP [+]2022-13.29%
Retail Sales YoY [+]December 20232.4%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202229
Global Peace Ranking [+]202327º
Crude divorce rate [+]20222.90‰
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 [+]20221.47
Crude marriage rate [+]20226.30‰
% risk of poverty [+]202322.5%
Population [+]20221,883,008
Immigrant stock [+]2020239,422
Emigrant stock [+]2020380,010
HDI [+]20210.863
Gender Gap Ranking [+]202313º
Life expectancy [+]202274.50
Suicides [+]2021254
Suicide rate [+]202113.40
Number of homicides [+]202267
Rate Homicides per 100.000 [+]20223.62
Energy and Environment
CO2 Tons per capita [+]20213.85
Consumption GWh [+]20216,917
Generation GWh [+]20215,538
Others
COVID-19 - Deaths [+]03/05/20247,465
COVID-19 - Confirmed [+]03/05/2024977,701
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]03/05/20243,964.40
Doses administered [+]07/11/20222,895,716