The Czech Republic vs Latvia: Economic Indicators Comparison
The Czech Republic with a GDP of $245.2B ranked the 46th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, the Czech Republic and Latvia ranked 64th vs 74th and 43rd vs 51st, respectively.
Gross Domestic Product & Income
| Stat |  Czech Republic |  Latvia |
|---|---|---|
| GDP | $245.2B | $34.4B |
| GDP growth, 1 year | 2.9% | 4.8% |
| GDP growth, 5-years average | 3.5% | 3.3% |
| Population | 10.7M | 1.9M |
| GDP per capita | $23k | $18k |
| GDP per capita growth | 2.65% | 5.47% |
| Purchasing Power Parity conversion factor | 12.62 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.58 | 0.59 |
| GDP per capita, PPP adjusted | $37k | $30k |
| GNI, Atlas method | $215B | $31.8B |
| GNI per capita | $20k | $17k |
| GNI, PPP adjusted | $398.8B | $57.4B |
| GNI per capita, PPP adjusted | $38k | $30k |
Financial system and Human development
| Stat | Czech Republic | Latvia |
|---|---|---|
| Income Tax Rate | 15% | 31.4% |
| Corporate Tax Rate | 19% | 20% |
| Inflation, consumer prices | 2.2% | 2.6% |
| Inflation, GDP deflator | 2.5% | 4% |
| Unemployment | 2.4% | 7.9% |
| Economic Freedom Index | 74.8 | 71.9 |
| Personal Freedom Index | 9.13 | 8.65 |
| Human Freedom Index | 8.3 | 8.16 |
| Property Rights Index | 76.8 | 72.3 |
| Judical Effectiveness Index | 49.9 | 51.1 |
| Business Freedom Index | 69.7 | 77 |
| Fiscal Health Index | 97.8 | 96.5 |
| Labor Freedom Index | 77.6 | 72.4 |
| Investment Freedom Index | 80 | 85 |
| Financial Freedom Index | 80 | 60 |
| Trade Freedom Index | 86.4 | 86.4 |
| Monetary Freedom Index | 80.8 | 80.2 |
| Government Spending Index | 52.7 | 58.3 |
| Tax Burden Index | 82 | 76.9 |
| Government Integrity Index | 64.2 | 46.4 |
| Corruption Perceptions Index | 59 | 58 |
| Life expectancy at birth, years | 79.5 | 74.7 |
| Suicide mortality rate, per 100,000 people | 13.1 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 5.9 | 9.3 |
| Intentional homicides, per 100,000 people | 0.6 | 4.2 |
| International tourism, number of arrivals | 10.6M | 1.9M |
Government debt & reserves
| Stat | Czech Republic | Latvia |
|---|---|---|
| Central government debt, % of GDP | 33% | 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 | 10.3% | 6% |
| Gross savings, % of GDP | 26.2% | 22.8% |
| Gross capital formation, % of GDP | 26.2% | 23.5% |
| Total reserves including gold | $142.5B | $4.4B |
| Foreign direct investment net inflows | $8.5B | $447M |
Exports, imports and economic structure
| Stat | Czech Republic | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | 78.4% | 61.3% |
| Imports of goods and services, % of GDP | 72% | 61.5% |
| Current account balance (balance of payments) | $860M | -$211M |
| Revenue excluding grants, % of GDP | 31.8% | 41.4% |
| Grants excluding technical cooperation, BoP | $243M | $148.1M |
| Personal remittances received | $3.9B | $1.2B |
| Industry including construction value added, % of GDP | 32.2% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 3.6% |
| Charges for the use of intellectual property, payments BoP | $1.5B | $64.6M |
| Charges for the use of intellectual property, receipts BoP | $495.7M | $10.6M |
| Expense, % of GDP | 32.1% | 43% |
| Government Expenditure, % of GDP | 39.7% | 37.3% |
