Georgia vs Latvia: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Georgia |  Latvia |
|---|---|---|
| GDP | $17.6B | $34.4B |
| GDP growth, 1 year | 4.7% | 4.8% |
| GDP growth, 5-years average | 4% | 3.3% |
| Population | 3.7M | 1.9M |
| GDP per capita | $4.7k | $18k |
| GDP per capita growth | 4.72% | 5.47% |
| Purchasing Power Parity conversion factor | 1 | 0.5 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.39 | 0.59 |
| GDP per capita, PPP adjusted | $11k | $30k |
| GNI, Atlas method | $16.6B | $31.8B |
| GNI per capita | $4.4k | $17k |
| GNI, PPP adjusted | $42.9B | $57.4B |
| GNI per capita, PPP adjusted | $12k | $30k |
Financial system and Human development
| Stat | Georgia | Latvia |
|---|---|---|
| Income Tax Rate | 20% | 31.4% |
| Corporate Tax Rate | 15% | 20% |
| Inflation, consumer prices | 2.6% | 2.6% |
| Inflation, GDP deflator | 4.4% | 4% |
| Unemployment | 14.1% | 7.9% |
| Economic Freedom Index | 77.1 | 71.9 |
| Personal Freedom Index | 7.4 | 8.65 |
| Human Freedom Index | 7.48 | 8.16 |
| Property Rights Index | 68.6 | 72.3 |
| Judical Effectiveness Index | 57.9 | 51.1 |
| Business Freedom Index | 85.3 | 77 |
| Fiscal Health Index | 94.4 | 96.5 |
| Labor Freedom Index | 76.3 | 72.4 |
| Investment Freedom Index | 80 | 85 |
| Financial Freedom Index | 70 | 60 |
| Trade Freedom Index | 88.6 | 86.4 |
| Monetary Freedom Index | 78.3 | 80.2 |
| Government Spending Index | 73.6 | 58.3 |
| Tax Burden Index | 87.1 | 76.9 |
| Government Integrity Index | 64.8 | 46.4 |
| Corruption Perceptions Index | 58 | 58 |
| Life expectancy at birth, years | 73.4 | 74.7 |
| Suicide mortality rate, per 100,000 people | 8.2 | 21.2 |
| Mortality caused by road traffic injury, per 100,000 people | 15.3 | 9.3 |
| Intentional homicides, per 100,000 people | 1 | 4.2 |
| International tourism, number of arrivals | 4.8M | 1.9M |
Government debt & reserves
| Stat | Georgia | Latvia |
|---|---|---|
| Central government debt, % of GDP | 44.5% | 37.6% |
| External debt stocks, % of GNI | 110.6% | N/A |
| External debt stocks | $17.1B | N/A |
| Short-term debt, % of total reserves | 81.1% | N/A |
| Total debt service, % of exports and primary income | 23.7% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 12.5% | 6% |
| Gross savings, % of GDP | 21% | 22.8% |
| Gross capital formation, % of GDP | 28.1% | 23.5% |
| Total reserves including gold | $3.3B | $4.4B |
| Foreign direct investment net inflows | $1.2B | $447M |
Exports, imports and economic structure
| Stat | Georgia | Latvia |
|---|---|---|
| Exports of goods and services, % of GDP | 50.6% | 61.3% |
| Imports of goods and services, % of GDP | 61.2% | 61.5% |
| Current account balance (balance of payments) | -$1.2B | -$211M |
| Revenue excluding grants, % of GDP | 23% | 41.4% |
| Grants excluding technical cooperation, BoP | $314.1M | $148.1M |
| Personal remittances received | $2B | $1.2B |
| Industry including construction value added, % of GDP | 19.9% | 19.5% |
| Agriculture, forestry and fishing value added, % of GDP | 6.8% | 3.6% |
| Charges for the use of intellectual property, payments BoP | $27.1M | $64.6M |
| Charges for the use of intellectual property, receipts BoP | $270k | $10.6M |
| Expense, % of GDP | 21.4% | 43% |
| Government Expenditure, % of GDP | 29.6% | 37.3% |
