Bhutan vs Latvia: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Bhutan |  Latvia |
|---|---|---|
| GDP | $2.4B | $34.4B |
| GDP growth, 1 year | 5.8% | 4.8% |
| GDP growth, 5-years average | 6.1% | 3.3% |
| Population | 808k | 1.9M |
| GDP per capita | $3.2k | $18k |
| GDP per capita growth | 1.82% | 5.47% |
| Purchasing Power Parity conversion factor | 21.81 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.32 | 0.59 |
| GDP per capita, PPP adjusted | $9.5k | $30k |
| GNI, Atlas method | $2.2B | $31.8B |
| GNI per capita | $3k | $17k |
| GNI, PPP adjusted | $7B | $57.4B |
| GNI per capita, PPP adjusted | $9.3k | $30k |
Financial system and Human development
| Stat | Bhutan | Latvia |
|---|---|---|
| Income Tax Rate | 25% | 31.4% |
| Corporate Tax Rate | 30% | 20% |
| Inflation, consumer prices | 3.6% | 2.6% |
| Inflation, GDP deflator | 1.8% | 4% |
| Unemployment | 2.2% | 7.9% |
| Economic Freedom Index | 62.1 | 71.9 |
| Personal Freedom Index | 6.9 | 8.65 |
| Human Freedom Index | 6.85 | 8.16 |
| Property Rights Index | 69.9 | 72.3 |
| Judical Effectiveness Index | 46.4 | 51.1 |
| Business Freedom Index | 68.2 | 77 |
| Fiscal Health Index | 74.8 | 96.5 |
| Labor Freedom Index | 79.4 | 72.4 |
| Investment Freedom Index | 20 | 85 |
| Financial Freedom Index | 30 | 60 |
| Trade Freedom Index | 79.4 | 86.4 |
| Monetary Freedom Index | 71.6 | 80.2 |
| Government Spending Index | 71.1 | 58.3 |
| Tax Burden Index | 82.9 | 76.9 |
| Government Integrity Index | 51.2 | 46.4 |
| Corruption Perceptions Index | 68 | 58 |
| Life expectancy at birth, years | 71.1 | 74.7 |
| Suicide mortality rate, per 100,000 people | 11.4 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 17.4 | 9.3 |
| Intentional homicides, per 100,000 people | 1.6 | 4.2 |
| International tourism, number of arrivals | 274k | 1.9M |
Government debt & reserves
| Stat | Bhutan | Latvia |
|---|---|---|
| Central government debt, % of GDP | 102.6% | 37.6% |
| External debt stocks, % of GNI | 109.2% | N/A |
| External debt stocks | $2.5B | N/A |
| Short-term debt, % of total reserves | 0.4% | N/A |
| Total debt service, % of exports and primary income | 10.7% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 23.3% | 6% |
| Gross savings, % of GDP | 21.6% | 22.8% |
| Gross capital formation, % of GDP | 47.5% | 23.5% |
| Total reserves including gold | $987.2M | $4.4B |
| Foreign direct investment net inflows | $2.6M | $447M |
Exports, imports and economic structure
| Stat | Bhutan | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | 30.8% | 61.3% |
| Imports of goods and services, % of GDP | 55.9% | 61.5% |
| Current account balance (balance of payments) | -$497.6M | -$211M |
| Revenue excluding grants, % of GDP | 18.5% | 41.4% |
| Grants excluding technical cooperation, BoP | $49.2M | $148.1M |
| Personal remittances received | $58.1M | $1.2B |
| Industry including construction value added, % of GDP | 38.3% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 15.9% | 3.6% |
| Charges for the use of intellectual property, payments BoP | $304k | $64.6M |
| Charges for the use of intellectual property, receipts BoP | $11k | $10.6M |
| Expense, % of GDP | 18.5% | 43% |
| Government Expenditure, % of GDP | 31.1% | 37.3% |
