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 1,875,757 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 2021 was 14,688 millions of euros (17,775 millions of dollars), ( 43.6% debt-to-GDP ratio) and its public debt per capita is €7,831 euros per inhabitant$9,476 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on October of 2022 and it was 21.7%.

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 0.866 points in 2019, leaving it in 37th place in the table of 189 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 [+]2022Q25,155K
Annual GDP [+]2021€33,696M
Annual GDP [+]2021$38,898M
GDP per capita [+]2021€17,890
GDP per capita [+]2021$20,546
Quarterly GDP [+]2022Q3€9,868M
Debt (M.€.) [+]202114,688
Debt ($M) [+]202117,775
Debt (%GDP) [+]202143.60%
Debt Per Capita [+]2021€7,831
Debt Per Capita [+]2021$9,476
Deficit (M.€) [+]2021-2,351
Deficit ($M) [+]2021-2,160
Deficit (%GDP) [+]2021-7.00%
Expenditure (M.€) [+]202114,814.2
Expenditure ($M) [+]202117,043.5
Education Expenditure (M.€) [+]20181,237.6
Education Expenditure ($M) [+]20181,462.2
Education Expenditure (%Bud.) [+]201811.15%
Gov. Health Exp. (M.€) [+]20201,395.3
Gov. Health Exp.($M) [+]20201,593.7
Gov. Health Exp. (%Bud.) [+]20179.00%
Defence Expenditure (M.€) [+]2020650.7
Defence Expenditure ($M) [+]2020745.7
Defence Expenditure (%Bud.) [+]20205.11%
Expenditure (%GDP) [+]202144.00%
Expenditure Per Capita [+]2021€7,898
Expenditure Per Capita [+]2021$9,086
Education Expenditure P.C [+]2018€642
Education Expenditure P.C [+]2018$756
Gov. Health Exp. P.C. [+]2020€734
Gov. Health Exp. P.C. [+]2020$839
Defence Expenditure P.C. [+]2020€342
Defence Expenditure P.C. [+]2020$407
Moody's Rating [+]04/29/2022A3
S&P Rating [+]02/21/2020A+
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202159
Competitiveness Ranking [+]201941º
Fragile States Index [+]201844.9
RTI Raking [+]01/01/201990º
Innovation Ranking [+]201834º
Labour
Unemployment Rate [+]October 20227.1%
Unemployment rate [+]2022Q26.6%
Unemployed [+]2022Q263K
NMW [+]2022$527.1
NMW [+]2022€500.0
Average Wage [+]2021$18,060
Average Wage [+]2021€15,276
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]12/05/20220.9446
Stock ExchangeYTD % [+]12/06/2022-11.88%
Prices
CPI (overall index) [+]October 202221.7%
HICP [+]November 202221.7%
PPI Year on Year [+]October 202257.9%
Money Market
Key rates [+]11/02/20222.00%
Business
Doing Business [+]202019º
IPI Year on Year [+]September 2022-3.7%
Passengers vehicles Year [+]October 202215,929
Annual Vehicles/ 1,000 p. [+]October 202210.78
Vehicles / 1,000 people [+]2020395.88
Taxes
Tax Revenue (%GDP) [+]202130.6%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202131.4%
Trade
Annual arrivals [+]20191,934,800
Exports [+]2021€17,650.5M
Exports [+]2021$20,901.7M
Exports % GDP [+]202152.38%
Imports [+]2021€20,694.8M
Imports [+]2021$24,293.1M
Imports % GDP [+]202161.42%
Trade balance [+]2021€-3,044.3M
Trade balance [+]2021$-3,391.4M
Trade balance % GDP [+]2021-9.03%
Retail Sales YoY [+]October 20225.8%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202129
Global Peace Ranking [+]202235º
Crude divorce rate [+]20202.70‰
Remittance received ($M) [+]20171,090.0
% Immigrant [+]201912.44%
% Emigrant [+]201917.41%
Birth Rate [+]20219.20‰
Remittance sent ($M) [+]2017335.2
Crude death rate [+]202118.40‰
Fertility Rate [+]20201.55
Crude marriage rate [+]20205.60‰
% risk of poverty [+]202123.4%
Population [+]20211,875,757
Immigrant stock [+]2019237,266
Emigrant stock [+]2019332,220
HDI [+]20190.866
Gender Gap Ranking [+]202226º
Life expectancy [+]202173.40
Suicides [+]2020299
Suicide rate [+]202015.70
Number of homicides [+]202070
Rate Homicides per 100.000 [+]20203.71
Energy and Environment
CO2 Tons per capita [+]20213.85
Consumption GWh [+]20216,917
Generation GWh [+]20215,538
Others
COVID-19 - Deaths [+]12/04/20226,102
COVID-19 - Confirmed [+]12/04/2022964,959
Fully vaccinated [+]07/11/20221,305,976
COVID-19 - Deaths per million population [+]12/04/20223,253.09
Doses administered [+]07/11/20222,895,716