Denmark vs Latvia: Economic Indicators Comparison

Denmark with a GDP of $355.7B ranked the 38th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Denmark and Latvia ranked 128th vs 74th and 12th vs 51st, respectively.

Gross Domestic Product & Income

Stat	Denmark	Latvia
GDP	$355.7B	$34.4B
GDP growth, 1 year	1.2%	4.8%
GDP growth, 5-years average	2%	3.3%
Population	5.8M	1.9M
GDP per capita	$61k	$18k
GDP per capita growth	1.82%	5.47%
Purchasing Power Parity conversion factor	6.96	0.5
Price level ratio of PPP conversion factor GDP to market exchange rate	1.1	0.59
GDP per capita, PPP adjusted	$52k	$30k
GNI, Atlas method	$348.6B	$31.8B
GNI per capita	$60k	$17k
GNI, PPP adjusted	$327.1B	$57.4B
GNI per capita, PPP adjusted	$56k	$30k

Financial system and Human development

Stat	Denmark	Latvia
Income Tax Rate	56%	31.4%
Corporate Tax Rate	23.5%	20%
Inflation, consumer prices	0.7%	2.6%
Inflation, GDP deflator	0.8%	4%
Unemployment	5%	7.9%
Economic Freedom Index	78.3	71.9
Personal Freedom Index	9.49	8.65
Human Freedom Index	8.73	8.16
Property Rights Index	86.3	72.3
Judical Effectiveness Index	84.6	51.1
Business Freedom Index	88.7	77
Fiscal Health Index	97.7	96.5
Labor Freedom Index	86.2	72.4
Investment Freedom Index	90	85
Financial Freedom Index	80	60
Trade Freedom Index	86.4	86.4
Monetary Freedom Index	84.6	80.2
Government Spending Index	19.7	58.3
Tax Burden Index	42	76.9
Government Integrity Index	93	46.4
Corruption Perceptions Index	88	58
Life expectancy at birth, years	81	74.7
Suicide mortality rate, per 100,000 people	12.8	21.2
Mortality caused by road traffic injury, per 100,000 people	4	9.3
Intentional homicides, per 100,000 people	1.2	4.2
International tourism, number of arrivals	12.7M	1.9M

Government debt & reserves

Stat	Denmark	Latvia
Central government debt, % of GDP	34.3%	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	18.3%	6%
Gross savings, % of GDP	28.7%	22.8%
Gross capital formation, % of GDP	23%	23.5%
Total reserves including gold	$70.9B	$4.4B
Foreign direct investment net inflows	$1.2B	$447M

Exports, imports and economic structure

Stat	Denmark	Latvia
Exports of goods and services, % of GDP	55.6%	61.3%
Imports of goods and services, % of GDP	49.6%	61.5%
Current account balance (balance of payments)	$24.8B	-$211M
Revenue excluding grants, % of GDP	38.9%	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	21.2%	19.5%
Agriculture, forestry and fishing value added, % of GDP	1%	3.6%
Charges for the use of intellectual property, payments BoP	$1.6B	$64.6M
Charges for the use of intellectual property, receipts BoP	$3.3B	$10.6M
Expense, % of GDP	37.6%	43%
Government Expenditure, % of GDP	51.7%	37.3%