Latvia Latvia

Subscribe to our free email alert service

Latvia, is a country located at Northern Europe, it has an area of 64,570 Km2 and it may be considered quite a small country.

Latvia, with a population of 1,893,223 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 98 position by nominal GDP. Its national debt in 2020 was 12,754 millions of euros (14,568 millions of dollars), ( 43.2% debt-to-GDP ratio) and its public debt per capita is €6,737 euros per inhabitant$7,695 dollars per inhabitant.

The last annual rate of CPI published in Latvia was on December of 2021 and it was 7.9%.

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 [+]2021Q34,355K
Annual GDP [+]2020€29,511M
Annual GDP [+]2020$33,478M
GDP per capita [+]2020€15,530
GDP per capita [+]2020$17,683
Quarterly GDP [+]2021Q3€8,245M
Debt (M.€.) [+]202012,754
Debt ($M) [+]202014,568
Debt (%GDP) [+]202043.20%
Debt Per Capita [+]2020€6,737
Debt Per Capita [+]2020$7,695
Deficit (M.€) [+]2020-1,328
Deficit ($M) [+]2020-1,517
Deficit (%GDP) [+]2020-4.50%
Expenditure (M.€) [+]202012,726.5
Expenditure ($M) [+]202014,536.2
Education Expenditure (M.€) [+]20181,237.6
Education Expenditure ($M) [+]20181,461.7
Education Expenditure (%Bud.) [+]201811.15%
Gov. Health Exp. (M.€) [+]20191,217.2
Gov. Health Exp.($M) [+]20191,362.7
Gov. Health Exp. (%Bud.) [+]20179.00%
Defence Expenditure (M.€) [+]2020678.8
Defence Expenditure ($M) [+]2020770.0
Defence Expenditure (%Bud.) [+]20205.19%
Expenditure (%GDP) [+]202043.10%
Expenditure Per Capita [+]2020€6,722
Expenditure Per Capita [+]2020$7,678
Education Expenditure P.C [+]2018€642
Education Expenditure P.C [+]2018$756
Gov. Health Exp. P.C. [+]2019€636
Gov. Health Exp. P.C. [+]2019$712
Defence Expenditure P.C. [+]2020€357
Defence Expenditure P.C. [+]2020$407
Moody's Rating [+]05/14/2021A3
S&P Rating [+]02/21/2020A+
Fitch Rating [+]04/10/2020A-
Corruption Index [+]202057
Competitiveness Ranking [+]201941º
Fragile States Index [+]201844.9
RTI Raking [+]01/01/201990º
Innovation Ranking [+]201834º
Labour
Unemployment Rate [+]November 20217.3%
Unemployment rate [+]2021Q37.2%
Unemployed [+]2021Q368K
NMW [+]2021$613.6
NMW [+]2021€500.0
Average Wage [+]2020$14,749
Average Wage [+]2020€12,913
Human Capital Ranking [+]201728º
Markets
US Dollar exchange rate [+]01/21/20220.8812
Stock ExchangeYTD % [+]01/21/20220.10%
Prices
CPI (overall index) [+]December 20217.9%
HICP [+]December 20217.9%
PPI Year on Year [+]November 202127.5%
Money Market
Key rates [+]10/17/20170%
Business
Doing Business [+]201919º
IPI Year on Year [+]November 20211.1%
Passengers vehicles Year [+]December 202114,344
Annual Vehicles/ 1,000 p. [+]November 20219.83
Vehicles / 1,000 people [+]2020395.88
Taxes
Tax Revenue (%GDP) [+]202031.8%
Standard VAT [+]07/01/201221.00%
Top tax rate + SSC [+]202031.8%
Trade
Annual arrivals [+]20191,934,800
Exports [+]2020€14,266.1M
Exports [+]2020$16,177.6M
Exports % GDP [+]202048.34%
Imports [+]2020€16,102.8M
Imports [+]2020$18,291.9M
Imports % GDP [+]202054.57%
Trade balance [+]2020€-1,836.7M
Trade balance [+]2020$-2,114.3M
Trade balance % GDP [+]2020-6.22%
Retail Sales YoY [+]November 2021-3.8%
Socio-Demography
Global AgeWatch Ranking [+]201535º
Density [+]202029
Global Peace Ranking [+]202135º
Crude divorce rate [+]20193.10‰
Remittance received ($M) [+]20171,090.0
% Immigrant [+]201912.44%
% Emigrant [+]201917.41%
Birth Rate [+]20209.20‰
Remittance sent ($M) [+]2017335.2
Crude death rate [+]202015.20‰
Fertility Rate [+]20191.61
Crude marriage rate [+]20196.70‰
% risk of poverty [+]202021.6%
Population [+]20201,893,223
Immigrant stock [+]2019237,266
Emigrant stock [+]2019332,220
HDI [+]20190.866
Gender Gap Ranking [+]202011º
Life expectancy [+]202075.70
Suicides [+]2019288
Suicide rate [+]201915.10
Number of homicides [+]201975
Rate Homicides per 100.000 [+]20193.93
Energy and Environment
CO2 Tons per capita [+]20203.93
Consumption GWh [+]20206,706
Generation GWh [+]20205,458
Others
COVID-19 - Deaths [+]01/20/20224,773
COVID-19 - Confirmed [+]01/20/2022319,027
Fully vaccinated [+]01/20/20221,281,626
COVID-19 - Deaths per million population [+]01/20/20222,521.10
Doses administered [+]01/20/20222,725,899