Belize vs Latvia: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Belize |  Latvia |
|---|---|---|
| GDP | $1.9B | $34.4B |
| GDP growth, 1 year | 3% | 4.8% |
| GDP growth, 5-years average | 2.2% | 3.3% |
| Population | 375k | 1.9M |
| GDP per capita | $4.9k | $18k |
| GDP per capita growth | 1.07% | 5.47% |
| Purchasing Power Parity conversion factor | 1.13 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.56 | 0.59 |
| GDP per capita, PPP adjusted | $8.5k | $30k |
| GNI, Atlas method | $1.7B | $31.8B |
| GNI per capita | $4.5k | $17k |
| GNI, PPP adjusted | $3B | $57.4B |
| GNI per capita, PPP adjusted | $7.8k | $30k |
Financial system and Human development
| Stat | Belize | Latvia |
|---|---|---|
| Income Tax Rate | 25% | 31.4% |
| Corporate Tax Rate | 25% | 20% |
| Inflation, consumer prices | 0.3% | 2.6% |
| Inflation, GDP deflator | -1.1% | 4% |
| Unemployment | 9.4% | 7.9% |
| Economic Freedom Index | 57.4 | 71.9 |
| Personal Freedom Index | 7.4 | 8.65 |
| Human Freedom Index | 7.37 | 8.16 |
| Property Rights Index | 44.4 | 72.3 |
| Judical Effectiveness Index | 46.4 | 51.1 |
| Business Freedom Index | 60.9 | 77 |
| Fiscal Health Index | 53.9 | 96.5 |
| Labor Freedom Index | 54.3 | 72.4 |
| Investment Freedom Index | 55 | 85 |
| Financial Freedom Index | 50 | 60 |
| Trade Freedom Index | 64.2 | 86.4 |
| Monetary Freedom Index | 80.4 | 80.2 |
| Government Spending Index | 66.3 | 58.3 |
| Tax Burden Index | 79.5 | 76.9 |
| Government Integrity Index | 33.5 | 46.4 |
| Corruption Perceptions Index | 58 | 58 |
| Life expectancy at birth, years | 74.4 | 74.7 |
| Suicide mortality rate, per 100,000 people | 4.7 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 28.3 | 9.3 |
| Intentional homicides, per 100,000 people | 37.9 | 4.2 |
| International tourism, number of arrivals | 489k | 1.9M |
Government debt & reserves
| Stat | Belize | Latvia |
|---|---|---|
| Central government debt, % of GDP | 94.8% | 37.6% |
| External debt stocks, % of GNI | 76.8% | N/A |
| External debt stocks | $1.4B | N/A |
| Short-term debt, % of total reserves | 1.2% | N/A |
| Total debt service, % of exports and primary income | 10.1% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -0.9% | 6% |
| Gross savings, % of GDP | 8.5% | 22.8% |
| Gross capital formation, % of GDP | 19% | 23.5% |
| Total reserves including gold | $294.5M | $4.4B |
| Foreign direct investment net inflows | $119.5M | $447M |
Exports, imports and economic structure
| Stat | Belize | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | 57.7% | 61.3% |
| Imports of goods and services, % of GDP | 58% | 61.5% |
| Current account balance (balance of payments) | -$154.9M | -$211M |
| Revenue excluding grants, % of GDP | 29.4% | 41.4% |
| Grants excluding technical cooperation, BoP | $17.1M | $148.1M |
| Personal remittances received | $92.5M | $1.2B |
| Industry including construction value added, % of GDP | 12% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 9.6% | 3.6% |
| Charges for the use of intellectual property, payments BoP | $7.9M | $64.6M |
| Charges for the use of intellectual property, receipts BoP | $2.5M | $10.6M |
| Expense, % of GDP | 27.6% | 43% |
| Government Expenditure, % of GDP | 33.5% | 37.3% |
