Cuba vs Latvia: Economic Indicators Comparison

Cuba with a GDP of $100B ranked the 64th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Cuba and Latvia ranked 130th vs 74th and 82nd vs 51st, respectively.

Gross Domestic Product & Income

StatCubaLatvia
GDP$100B$34.4B
GDP growth, 1 year2.3%4.8%
GDP growth, 5-years average2%3.3%
Population11.5M1.9M
GDP per capita$8.8k$18k
GDP per capita growth2.26%5.47%
Purchasing Power Parity conversion factor0.320.5
Price level ratio of PPP conversion factor GDP to market exchange rateN/A0.59
GDP per capita, PPP adjusted$14k$30k
GNI, Atlas method$84.8B$31.8B
GNI per capita$7.5k$17k
GNI, PPP adjustedN/A$57.4B
GNI per capita, PPP adjustedN/A$30k

Financial system and Human development

StatCubaLatvia
Income Tax Rate50%31.4%
Corporate Tax Rate30%20%
Inflation, consumer prices6.9%2.6%
Inflation, GDP deflator1%4%
Unemployment2.3%7.9%
Economic Freedom Index26.971.9
Personal Freedom Index5.48.65
Human Freedom Index5.28.16
Property Rights Index20.172.3
Judical Effectiveness Index1051.1
Business Freedom Index2077
Fiscal Health Index14.896.5
Labor Freedom Index2072.4
Investment Freedom Index1085
Financial Freedom Index1060
Trade Freedom Index65.686.4
Monetary Freedom Index64.180.2
Government Spending Index058.3
Tax Burden Index49.576.9
Government Integrity Index38.746.4
Corruption Perceptions Index4758
Life expectancy at birth, years78.774.7
Suicide mortality rate, per 100,000 people13.921.2
Mortality caused by road traffic injury, per 100,000 people8.59.3
Intentional homicides, per 100,000 people54.2
International tourism, number of arrivals4.7M1.9M

Government debt & reserves

StatCubaLatvia
Central government debt, % of GDP51%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 GNIN/A6%
Gross savings, % of GDPN/A22.8%
Gross capital formation, % of GDP12%23.5%
Total reserves including gold$144M$4.4B
Foreign direct investment net inflowsN/A$447M

Exports, imports and economic structure

StatCubaLatvia
Exports of goods and services, % of GDP14.5%61.3%
Imports of goods and services, % of GDP12.6%61.5%
Current account balance (balance of payments)N/A-$211M
Revenue excluding grants, % of GDPN/A41.4%
Grants excluding technical cooperation, BoP$510.6M$148.1M
Personal remittances receivedN/A$1.2B
Industry including construction value added, % of GDP25.1%19.5%
Agriculture, forestry and fishing value added, % of GDP3.8%3.6%
Charges for the use of intellectual property, payments BoPN/A$64.6M
Charges for the use of intellectual property, receipts BoPN/A$10.6M
Expense, % of GDPN/A43%
Government Expenditure, % of GDP64.8%37.3%

Compare with countries close by GDP per capita

Cuba vs

CountryGDP
per capita
Population
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M

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
Barbados
$18k
286k
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