Canada vs Latvia: Economic Indicators Comparison

Canada with a GDP of $1.7T ranked the 10th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Canada and Latvia ranked 133rd vs 74th and 21st vs 51st, respectively.

Gross Domestic Product & Income

Stat	Canada	Latvia
GDP	$1.7T	$34.4B
GDP growth, 1 year	1.8%	4.8%
GDP growth, 5-years average	1.9%	3.3%
Population	37.9M	1.9M
GDP per capita	$46k	$18k
GDP per capita growth	0.47%	5.47%
Purchasing Power Parity conversion factor	1.24	0.5
Price level ratio of PPP conversion factor GDP to market exchange rate	0.96	0.59
GDP per capita, PPP adjusted	$50k	$30k
GNI, Atlas method	$1.7T	$31.8B
GNI per capita	$45k	$17k
GNI, PPP adjusted	$1.8T	$57.4B
GNI per capita, PPP adjusted	$48k	$30k

Financial system and Human development

Stat	Canada	Latvia
Income Tax Rate	33%	31.4%
Corporate Tax Rate	15%	20%
Inflation, consumer prices	0.9%	2.6%
Inflation, GDP deflator	1.9%	4%
Unemployment	5.9%	7.9%
Economic Freedom Index	78.2	71.9
Personal Freedom Index	9.26	8.65
Human Freedom Index	8.69	8.16
Property Rights Index	87.7	72.3
Judical Effectiveness Index	72.7	51.1
Business Freedom Index	81.7	77
Fiscal Health Index	83.3	96.5
Labor Freedom Index	72	72.4
Investment Freedom Index	80	85
Financial Freedom Index	80	60
Trade Freedom Index	87	86.4
Monetary Freedom Index	76	80.2
Government Spending Index	50.9	58.3
Tax Burden Index	76.5	76.9
Government Integrity Index	90.3	46.4
Corruption Perceptions Index	81	58
Life expectancy at birth, years	82.2	74.7
Suicide mortality rate, per 100,000 people	12.5	21.2
Mortality caused by road traffic injury, per 100,000 people	5.8	9.3
Intentional homicides, per 100,000 people	1.8	4.2
International tourism, number of arrivals	21.1M	1.9M

Government debt & reserves

Stat	Canada	Latvia
Central government debt, % of GDP	90.6%	37.6%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	6.5%	6%
Gross savings, % of GDP	19.7%	22.8%
Gross capital formation, % of GDP	23.1%	23.5%
Total reserves including gold	$83.9B	$4.4B
Foreign direct investment net inflows	$46.5B	$447M

Exports, imports and economic structure

Stat	Canada	Latvia
Exports of goods and services, % of GDP	32.1%	61.3%
Imports of goods and services, % of GDP	34.1%	61.5%
Current account balance (balance of payments)	-$45.3B	-$211M
Revenue excluding grants, % of GDP	18.1%	41.4%
Grants excluding technical cooperation, BoP	N/A	$148.1M
Personal remittances received	$1.4B	$1.2B
Industry including construction value added, % of GDP	24.8%	19.5%
Agriculture, forestry and fishing value added, % of GDP	1.7%	3.6%
Charges for the use of intellectual property, payments BoP	$11.8B	$64.6M
Charges for the use of intellectual property, receipts BoP	$4.8B	$10.6M
Expense, % of GDP	17.3%	43%
Government Expenditure, % of GDP	40.5%	37.3%