The Cayman Islands vs Latvia: Economic Indicators Comparison
Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while the Cayman Islands ranked 158th with $5.1B. By GDP per capita, Latvia and the Cayman Islands ranked 51st vs 6th, respectively.
Gross Domestic Product & Income
| Stat |  Cayman Islands |  Latvia |
|---|---|---|
| GDP | $5.1B | $34.4B |
| GDP growth, 1 year | 3.04% | 4.8% |
| GDP growth, 5-years average | N/A | 3.3% |
| Population | 58k | 1.9M |
| GDP per capita | $81k | $18k |
| GDP per capita growth | 1.72% | 5.47% |
| Purchasing Power Parity conversion factor | 0.93 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 1.12 | 0.59 |
| GDP per capita, PPP adjusted | $73k | $30k |
| GNI, Atlas method | $3B | $31.8B |
| GNI per capita | $47k | $17k |
| GNI, PPP adjusted | $2.8B | $57.4B |
| GNI per capita, PPP adjusted | $44k | $30k |
Financial system and Human development
| Stat | Cayman Islands | Latvia |
|---|---|---|
| Income Tax Rate | N/A | 31.4% |
| Corporate Tax Rate | N/A | 20% |
| Inflation, consumer prices | -0.6% | 2.6% |
| Inflation, GDP deflator | 1.9% | 4% |
| Unemployment | 4.2% | 7.9% |
| Economic Freedom Index | 74 | 71.9 |
| Personal Freedom Index | 8.1 | 8.65 |
| Human Freedom Index | 8.1 | 8.16 |
| Property Rights Index | N/A | 72.3 |
| Judical Effectiveness Index | N/A | 51.1 |
| Business Freedom Index | N/A | 77 |
| Fiscal Health Index | N/A | 96.5 |
| Labor Freedom Index | N/A | 72.4 |
| Investment Freedom Index | N/A | 85 |
| Financial Freedom Index | N/A | 60 |
| Trade Freedom Index | N/A | 86.4 |
| Monetary Freedom Index | N/A | 80.2 |
| Government Spending Index | N/A | 58.3 |
| Tax Burden Index | N/A | 76.9 |
| Government Integrity Index | N/A | 46.4 |
| Corruption Perceptions Index | 76 | 58 |
| Life expectancy at birth, years | 82.2 | 74.7 |
| Suicide mortality rate, per 100,000 people | 0.5 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 14 | 9.3 |
| Intentional homicides, per 100,000 people | 8.5 | 4.2 |
| International tourism, number of arrivals | 463k | 1.9M |
Government debt & reserves
| Stat | Cayman Islands | Latvia |
|---|---|---|
| Central government debt, % of GDP | N/A | 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 | N/A | 6% |
| Gross savings, % of GDP | N/A | 22.8% |
| Gross capital formation, % of GDP | N/A | 23.5% |
| Total reserves including gold | $162.1M | $4.4B |
| Foreign direct investment net inflows | $57.4B | $447M |
Exports, imports and economic structure
| Stat | Cayman Islands | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | N/A | 61.3% |
| Imports of goods and services, % of GDP | N/A | 61.5% |
| Current account balance (balance of payments) | -$997.9M | -$211M |
| Revenue excluding grants, % of GDP | N/A | 41.4% |
| Grants excluding technical cooperation, BoP | $0 | $148.1M |
| Personal remittances received | $15.6M | $1.2B |
| Industry including construction value added, % of GDP | 7.2% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 0.4% | 3.6% |
| Charges for the use of intellectual property, payments BoP | $68M | $64.6M |
| Charges for the use of intellectual property, receipts BoP | $9.3M | $10.6M |
| Expense, % of GDP | N/A | 43% |
| Government Expenditure, % of GDP | N/A | 37.3% |
