Germany vs Latvia: Economic Indicators Comparison

Germany with a GDP of $3.9T ranked the 4th largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Germany and Latvia ranked 136th vs 74th and 19th vs 51st, respectively.

Gross Domestic Product & Income

Stat	Germany	Latvia
GDP	$3.9T	$34.4B
GDP growth, 1 year	1.5%	4.8%
GDP growth, 5-years average	1.9%	3.3%
Population	83.1M	1.9M
GDP per capita	$48k	$18k
GDP per capita growth	1.2%	5.47%
Purchasing Power Parity conversion factor	0.76	0.5
Price level ratio of PPP conversion factor GDP to market exchange rate	0.9	0.59
GDP per capita, PPP adjusted	$53k	$30k
GNI, Atlas method	$3.9T	$31.8B
GNI per capita	$47k	$17k
GNI, PPP adjusted	$4.5T	$57.4B
GNI per capita, PPP adjusted	$55k	$30k

Financial system and Human development

Stat	Germany	Latvia
Income Tax Rate	47.5%	31.4%
Corporate Tax Rate	15.8%	20%
Inflation, consumer prices	1.9%	2.6%
Inflation, GDP deflator	1.5%	4%
Unemployment	3.4%	7.9%
Economic Freedom Index	73.5	71.9
Personal Freedom Index	9.14	8.65
Human Freedom Index	8.42	8.16
Property Rights Index	80.5	72.3
Judical Effectiveness Index	74.3	51.1
Business Freedom Index	82.8	77
Fiscal Health Index	92.9	96.5
Labor Freedom Index	53	72.4
Investment Freedom Index	80	85
Financial Freedom Index	70	60
Trade Freedom Index	86.4	86.4
Monetary Freedom Index	76.7	80.2
Government Spending Index	42.2	58.3
Tax Burden Index	60.9	76.9
Government Integrity Index	82.8	46.4
Corruption Perceptions Index	80	58
Life expectancy at birth, years	81	74.7
Suicide mortality rate, per 100,000 people	13.6	21.2
Mortality caused by road traffic injury, per 100,000 people	4.1	9.3
Intentional homicides, per 100,000 people	1	4.2
International tourism, number of arrivals	38.9M	1.9M

Government debt & reserves

Stat	Germany	Latvia
Central government debt, % of GDP	59.8%	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	14.1%	6%
Gross savings, % of GDP	29.3%	22.8%
Gross capital formation, % of GDP	21.8%	23.5%
Total reserves including gold	$198B	$4.4B
Foreign direct investment net inflows	$105.3B	$447M

Exports, imports and economic structure

Stat	Germany	Latvia
Exports of goods and services, % of GDP	47.4%	61.3%
Imports of goods and services, % of GDP	41.3%	61.5%
Current account balance (balance of payments)	$289.9B	-$211M
Revenue excluding grants, % of GDP	28.5%	41.4%
Grants excluding technical cooperation, BoP	N/A	$148.1M
Personal remittances received	$18B	$1.2B
Industry including construction value added, % of GDP	27.5%	19.5%
Agriculture, forestry and fishing value added, % of GDP	0.8%	3.6%
Charges for the use of intellectual property, payments BoP	$15.6B	$64.6M
Charges for the use of intellectual property, receipts BoP	$24.4B	$10.6M
Expense, % of GDP	28.2%	43%
Government Expenditure, % of GDP	43.9%	37.3%