Barbados vs Latvia: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Latvia and Barbados ranked 74th vs 159th and 51st vs 50th, respectively.

Gross Domestic Product & Income

StatBarbadosLatvia
GDP$5.1B$34.4B
GDP growth, 1 year-0.5%4.8%
GDP growth, 5-years average0.7%3.3%
Population286k1.9M
GDP per capita$18k$18k
GDP per capita growth-0.64%5.47%
Purchasing Power Parity conversion factor1.930.5
Price level ratio of PPP conversion factor GDP to market exchange rate0.970.59
GDP per capita, PPP adjusted$19k$30k
GNI, Atlas method$4.4B$31.8B
GNI per capita$15k$17k
GNI, PPP adjusted$4.7B$57.4B
GNI per capita, PPP adjusted$16k$30k

Financial system and Human development

StatBarbadosLatvia
Income Tax Rate40%31.4%
Corporate Tax Rate5.5%20%
Inflation, consumer prices3.6%2.6%
Inflation, GDP deflator3.6%4%
Unemployment9.6%7.9%
Economic Freedom Index61.471.9
Personal Freedom Index8.228.65
Human Freedom Index7.218.16
Property Rights Index56.672.3
Judical Effectiveness Index36.151.1
Business Freedom Index69.477
Fiscal Health Index63.196.5
Labor Freedom Index6072.4
Investment Freedom Index7085
Financial Freedom Index6060
Trade Freedom Index56.686.4
Monetary Freedom Index77.980.2
Government Spending Index69.258.3
Tax Burden Index73.676.9
Government Integrity Index4446.4
Corruption Perceptions Index6858
Life expectancy at birth, years7974.7
Suicide mortality rate, per 100,000 people0.821.2
Mortality caused by road traffic injury, per 100,000 people5.69.3
Intentional homicides, per 100,000 people10.54.2
International tourism, number of arrivals680k1.9M

Government debt & reserves

StatBarbadosLatvia
Central government debt, % of GDP124.5%37.6%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI-6.8%6%
Gross savings, % of GDP-0.5%22.8%
Gross capital formation, % of GDP11.3%23.5%
Total reserves including gold$431.8M$4.4B
Foreign direct investment net inflows$195.1M$447M

Exports, imports and economic structure

StatBarbadosLatvia
Exports of goods and services, % of GDP42%61.3%
Imports of goods and services, % of GDP40.9%61.5%
Current account balance (balance of payments)-$248.2M-$211M
Revenue excluding grants, % of GDP26.7%41.4%
Grants excluding technical cooperation, BoP$13.8M$148.1M
Personal remittances received$108.3M$1.2B
Industry including construction value added, % of GDP14%19.5%
Agriculture, forestry and fishing value added, % of GDP1.3%3.6%
Charges for the use of intellectual property, payments BoP$12.1M$64.6M
Charges for the use of intellectual property, receipts BoP$33.4M$10.6M
Expense, % of GDP35.2%43%
Government Expenditure, % of GDP32%37.3%

Compare with countries close by GDP per capita

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M

Latvia vs

CountryGDP
per capita
Population
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M