Cyprus vs Latvia: Economic Indicators Comparison

Latvia with a GDP of $34.4B ranked the 100th largest economy in the world, while Cyprus ranked 109th with $25B. By GDP 5-years average growth and GDP per capita, Latvia and Cyprus ranked 74th vs 99th and 51st vs 36th, respectively.

Gross Domestic Product & Income

StatCyprusLatvia
GDP$25B$34.4B
GDP growth, 1 year3.9%4.8%
GDP growth, 5-years average2.8%3.3%
Population1.1M1.9M
GDP per capita$28k$18k
GDP per capita growth2.75%5.47%
Purchasing Power Parity conversion factor0.630.5
Price level ratio of PPP conversion factor GDP to market exchange rate0.740.59
GDP per capita, PPP adjusted$40k$30k
GNI, Atlas method$24.9B$31.8B
GNI per capita$26k$17k
GNI, PPP adjusted$34.7B$57.4B
GNI per capita, PPP adjusted$35k$30k

Financial system and Human development

StatCyprusLatvia
Income Tax Rate35%31.4%
Corporate Tax Rate12.5%20%
Inflation, consumer prices0.8%2.6%
Inflation, GDP deflator1.4%4%
Unemployment8.1%7.9%
Economic Freedom Index70.171.9
Personal Freedom Index8.968.65
Human Freedom Index8.398.16
Property Rights Index77.472.3
Judical Effectiveness Index50.551.1
Business Freedom Index76.677
Fiscal Health Index8096.5
Labor Freedom Index59.772.4
Investment Freedom Index7585
Financial Freedom Index6060
Trade Freedom Index86.486.4
Monetary Freedom Index84.380.2
Government Spending Index58.658.3
Tax Burden Index74.876.9
Government Integrity Index57.646.4
Corruption Perceptions Index5958
Life expectancy at birth, years80.774.7
Suicide mortality rate, per 100,000 people5.321.2
Mortality caused by road traffic injury, per 100,000 people5.19.3
Intentional homicides, per 100,000 people0.64.2
International tourism, number of arrivals3.9M1.9M

Government debt & reserves

StatCyprusLatvia
Central government debt, % of GDP102.5%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 GNI3.2%6%
Gross savings, % of GDP21.8%22.8%
Gross capital formation, % of GDP19.1%23.5%
Total reserves including gold$924.2M$4.4B
Foreign direct investment net inflows$5.2B$447M

Exports, imports and economic structure

StatCyprusLatvia
Exports of goods and services, % of GDP73.1%61.3%
Imports of goods and services, % of GDP72.3%61.5%
Current account balance (balance of payments)-$1.1B-$211M
Revenue excluding grants, % of GDP37.4%41.4%
Grants excluding technical cooperation, BoP$34.2M$148.1M
Personal remittances received$497.8M$1.2B
Industry including construction value added, % of GDP12.2%19.5%
Agriculture, forestry and fishing value added, % of GDP2%3.6%
Charges for the use of intellectual property, payments BoP$127.2M$64.6M
Charges for the use of intellectual property, receipts BoP$174k$10.6M
Expense, % of GDP35.4%43%
Government Expenditure, % of GDP37.1%37.3%

Compare with countries close by GDP per capita

Cyprus vs

CountryGDP
per capita
Population
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k
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

Latvia vs

CountryGDP
per capita
Population
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
Malaysia
$11k
31.6M